For example, the financial crisis may have altered expectations of longer-run income growth and attitudes toward risk such that consumers may be more cautious about spending gains in income and wealth that are perceived to be temporary. Modest growth in consumer spending would be significant because strength in other categories of aggregate demand remains elusive.
I have been told that the number of mobile phone subscribers in Pakistan is around 120 million and Mobilink has the largest share of over 36 million subscribers. The current tele-density is above 72% which is much higher than the level of financial access that hovers around 12 percent. This factor alone highlights the immense potential for mobile banking in the country.