A new report from Mastercard confirms the power of mobile technology to improve financial inclusion. The research shows that 15 countries account for over 60% of the global unbanked population, where 607 million people have a mobile phone, but do not yet have a bank account. Mobile technology could therefore provide them with immediate access to the benefits of financial inclusion.
In 14 of these countries, the number of people with a mobile phone outnumbers the number of people with a bank account by several million (rising to 204 million in China). The only exception is India, where more people have a bank account than a mobile phone.