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Group Working on Plan for Cell Phone Banking

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Group Working on Plan for Cell Phone Banking

Economy

Group Working on Plan for Cell Phone Banking

Group Working on Plan for Cell Phone Banking

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  • <iframe src="https://www.npr.org/player/embed/11630589/11630590" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

In developing nations, many people still do not have bank accounts — but they do have cell phones.

Now, a group with the World Bank is trying to develop a way to allow poor people to use their cell phones to save and transfer money.

Kabir Kumar of the Consultative Group to Assist the Poor talks to Debbie Elliott about the project.