First, mobile payment systems can provide only a remittance facility; they cannot provide other benefits under financial inclusion such as overdrafts, credit and micro-insurance. Also, banks are heavily regulated and this allows us to address concerns about KYC/AML as also customer service. With mobile payment companies, we have neither similar regulatory authority nor comfort.
Economic development cannot be considered durable when: –  natural resources are being depleted;  –  growth rates do not fully reflect potential long-run costs to society;  –  - and short-term gains of a small group are achieved at the expense of the long-term health and stability of the system as a whole.