Moves Afoot to Bring Money Services to Migrant Workers

| News alert
Jean Diop, Vice President of Capgemini’s TME Consulting practice was quoted in Mobile Media (29 February 2008).

Speaking about the considerable opportunity for operators and banks in offering mobile banking services, Jean explained the attractiveness of a market which is sizeable, fast-growing and largely untapped.  In fast-growing immigrant communities we often see a large contingent which is low-income, low-credit risk and ‘unbanked’ (no bank account).  To this demographic, an m-wallet – a prepaid mobile account which act as a cash substitute and allows peer-to-peer transactions, micro-payments for goods and remittance services via a mobile phone – is very attractive, not least because the mobile phone is ubiquitous.  Diop forecasts that such services could be offered in UK imminently, mirroring similar services which have been widely adopted in Africa.