Allows customers to conduct financial transactions using mobile devices. Due to the higher cost of traditional banking (i.e. establishment of physical presence) in developing countries, mobile banking expands financial inclusion among the poor and among populations living in remote locations. Beyond commercial banking services, the same system can be used to pay taxes, receive Government benefits or regulate other payments (e.g. payments for ecosystem services). Associated systems allow for microenterprise loans financing solar panels and other environmentally beneficial investments.
A wide array of banks offer smartphone applications which allow for mobile banking to occur, especially in the developing world. The largest bank in India, the State Bank of India, offers a wide range of online and mobile banking services. To view their website and understand some of the services offered through Mobile Banking, please visit their website here.
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Return-Based Investments —> Debt: Leasing, Bank Loans, Notes and Trade Finance