Partnership to Broaden Financial Inclusion Through “Mobile Money” Technology in Developing Countries

USAID and Citi are broadening financial inclusion by fostering the rapid adoption of “mobile money” technology in developing countries.

Partnership to Broaden Financial Inclusion by Fostering the Rapid Adoption of “Mobile Money” Technology in Developing Countries

Of the five billion mobile phone users worldwide, nearly two billion lack access to banking services and instead rely on cash transactions that expose them to potential theft, fraud or loss, and high-cost lending and remittance providers that leave them vulnerable to endless debt and high fees. USAID and Citi will work with governments, donors, industry and other participants in the payments system. USAID expects to continue to support local mobile money platforms with over $23 million and Citi will integrate its core banking services with mobile money platforms to provide seamless integration between banking and last-mile, mobile-based payment services.

Partners

  • United States Agency for International Development (USAID)

    Funding Agencies
    United States | Staff size: Unknown

    USAID is the lead U.S. Government agency that works to end extreme global poverty and enable resilient, democratic societies to realize their potential.

    U.S. foreign assistance has...

  • Citi

    Service Providers
    United States | Staff size: Unknown

    Citi is a global bank that has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and...

More Resources

Key Information

LocationGlobal, Kenya, Colombia, Haiti, Philippines, Indonesia
StatusAnnounced
  • Start Date 2012
Sectors