Increasingly, people around the world, especially in Africa, are paying their school fees, healthcare and utility bills using mobile phones today. Businesses use mobile money phones to pay their staff and suppliers. Poor people who have never entered a bank are using mobile services to send or receive remittances and to save their money.
‘Mobile money’, as it has been dubbed, is growing at an amazing pace on the continent and at an even faster rate in East Africa.
Read more: http://blogs.worldbank.org/africacan/a-bank-in-your-pocket-the-mobile-money-revolution-in-tanzania