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50 Things That Made the Modern Economy

M-Pesa

08:58 | Dec 31st, 2016

1 recommendation
Transferring money by text message is far safer and more convenient than cash. M-Pesa, as it is known, first took off in Kenya. The idea was to make it easier for small businesses to repay micro-finan...Show More

Recommendations

epekilis recommended:Jan 13th

Listen to this episode right after the episode on the historical roots of banking. The Crusaders had to find a way to access money across thousands of miles; the impoverished billions of current day society need creative ways to use and access micro amounts of money that are too small for current banking systems to handle. Both are examples of problem solving to meet specific economic needs in specific circumstances. Africa is leap-frogging whole generations of technology, from direct payment that cuts out the national banking system to RFIDs to small scale community run, pay-as-you-go alternative energy.