What is Mobile Money?
On this page you will find an interesting video about the increase in using “mobile money” in Afghanistan. Having a whole society that has been separated for it’s entire existence, Afghanistan is quickly becoming tied together, with the increase in cell phone technology. This system of cell phone towers, allows towns separated by mountains, that would previously have been isolated from one another to be connected momentarily. It also provides what they called, “mobile money”, this is using an account to transfer your real money into electronic money. Which can then be spent electronically, or you can transfer those electronic dollars into real dollars at a phone agent.
Why this is important
This is important for Afghanistan, because only 4 % of the people of their country have a bank account. That means that any money that somebody is saving, is more than likely tucked in a mattress or buried in the ground somewhere. Now if you can build a system that is safe, secure and convenient, you will be able to encourage people to inject their economy with all of this money that up until now, has not been a vital part of the Afghan economy. This will be a giant step forward in improving the economy of Afghanistan. The goal is to encompass the whole country under cell phone use, thus providing a type of unity and connectivity that they have never known.