3.667 bln devices run Mobile Cash!
MobileCash is a revolutionary product. It enables users to use their mobile phones as a computer. MobileCash opens up a whole new world of possibilities.
MobileCash is a mobile app that provides an electronic payment system for microfinance facilities in South Africa. MobileCash provides a convenient way for microfinance clients to receive payments from microfinance institutions (MFIs). At the same time, it enables MFIs to collect loan repayments, savings, and other payments from clients.
South Africa 53M
Mobile cash is a wide concept. It refers to any financial instrument that works on mobile phones, other mobile devices, or the internet. This largely includes prepaid electronic money.
The coverage of mobile cash varies by region, but the largest share of mobile cash users is in Asia. In 2017, over 4 billion people were using mobile cash in India, China, Indonesia, the Philippines, and Vietnam.
Hong Kong 7M
South Korea 50M
Mobile cash is already in use in many European countries. In 2010 Sweden and Denmark started pilot projects using mobile cash. Germany, Austria, Switzerland, and Norway followed in 2011. In 2012, France started a mobile money pilot project.
United Kingdom 64M
Today, nearly 354 million people in North America use cash. In a world of electronic payments, cash still plays a crucial role. If we include Canada and Mexico, the share is closer to 30 percent.
United States 319M
The application is currently implemented in Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guatemala, Mexico, Panama, Paraguay, Peru, and Uruguay and is currently in the process of being rolled out to the rest of Latin America.
Cash, therefore, is far from dead.