Obopay, Grameen Solutions | BankABillion
This is a groundbreaking announcement today from Obopay, and Grameen. [hat tip paymentsnews].
Note the inclusion of payments as the focus.
Payments News: Obopay, Grameen Solutions for Mobile Banking, Payments – August 06, 2008
the Grameen-Obopay Bank A Billion Initiative will provide access to affordable financial services, including cross-border remittances, money transfer, payments, savings and credit accounts. By empowering life and work endeavors with mobile technology that is ubiquitous even in the most impoverished and remote corners of the world, Grameen-Obopay are bringing the full power of banking to those who need it most.By 2018 the world’s poor will benefit
fully from mobile banking services because everyone with a mobile phone
will have access to affordable financial services that empower their
life and work. This includes access to
- Savings
- Money Transfer
- Payments
- Micro-Credit
Obopay have been featured on netbanker, and Grameen are well known as the micro-credit Bank featuring prominently in Bangladesh, and having reached billion dollar status. The founder, Mohamed Yunus is a Nobel Prize winner. I have covered here.
I recall something about Grameen extending internationally, however this announcement is now one to watch. Interesting to see this announcement just as we see CitiBank pull in its international plans.
Couldn’t agree more on the significance. Since mobile technology has become so pervasive the ability to filter into the poorest of areas is definitely a big move to eradicating poverty and w/ Obopay helping those people with cell-to-cell transactions…the potential is there.
Very excited to see where this partnership goes.
Brad Garland
August 6, 2008 at 15:03
[...] Banks. How long will banks’ watch the likes of PayPal (with Bill Me Later) and Grameen (bankabillion with Obopay) taking away fundamental parts of banking. The former being small loans (think [...]
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October 6, 2008 at 17:39