Moreover, if payment methods are fast, inexpensive, and have ubiquity, this will expand the frontier of businesses that use them – for example, businesses that provide e-commerce, music, or software by precisely taking into account customer needs. Second, new technologies arising from financial innovations will possibly be applied to other means.
The number of mobile phone subscribers has reached 120 million. Turning now to the use of mobile technology to promote financial access, there is an emerging consensus amongst policy makers around the world to improve access to financial services for poor people, through supporting the safe and sound spread of new modes of financial service delivery capable of reaching the poor.