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.