The Daily Stat: Even the Very Poorest Like Mobile Banking

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Are you having trouble viewing this email? If so, click here to see it in a web browser. HOME   |   BLOGS   |   THE MAGAZINE   |   BOOKS   |   AUTHORS   |   STORE RSS   |   Mobile APRIL 5, 2010 Even the Very Poorest Like Mobile Banking About 65% of the lowest-income households surveyed by McKinsey in the Philippines want to use banking accounts accessed through mobile phones — contrary to the accepted wisdom that poor people tend to be indifferent to banking. Across all income groups, only about 50% of households in the survey say they want to use mobile money. The average balance of the poorest segment of mobile-money subscribers in the Philippines is about $31, McKinsey says. Source: Capturing the promise of mobile banking in emerging markets Copyright © 2010 McKinsey & Company. All rights reserved. Reprinted by permission. Share Today's Stat: RELATED PRODUCT Even the Poorest Can Be a Thriving Market Harvard Business Review Article Though many multinationals see little business potential in serving the poorest people in developing countries, two innovative mobile phone companies are making profits and improving local economic conditions by doing exactly that. ADVERTISEMENT Follow the Stat: BEST SELLERS 10 Must-Read Articles from HBR How to Get the Right Work Done Guide to Better Business Writing HBR's Must-Reads on Managing Yourself Strategy-Focused Organization 10-Volume Library (CD-ROMs) PREVIOUS STATS Newsroom Cuts Seen as Very Costly Eighteen Months in the Life of a Fool Gaps Seen in Oversight of Organics Industry Some "Natural" Products Are Far from It Weakening Firms Focus on Cuts, Not New Products Little Rest for the Weary Vietnamese Business Owner Gender Parity: Not a Corporate Priority Nike Goes to Court to Fight Cybersquatting Most Doctors Admit to Practicing Defensive Medicine Mergers Market Seems Poised to Accelerate HBR Online Trial Access HBR's in-depth business archives FREE for 14 days. Register today » UNSUBSCRIBE   |   UPDATE YOUR PROFILE   |   MORE EMAIL NEWSLETTERS   |   PRIVACY POLICY Was this email forwarded to you? If so, sign up to start receiving your own copy. ABOUT THIS MAILING LIST You have received this message because you subscribed to the "The Daily Stat" email newsletter from Harvard Business Review. If at any point you wish to remove yourself from this list, change your email address, or sign up for other email newsletters and alerts, please visit the Harvard Business Review Email Newsletter Preference Center. ADVERTISE WITH HBR This enewsletter is read by thousands of decision makers every day. Learn more about connecting your brand with this audience. Copyright © 2010 Harvard Business School Publishing, an affiliate of Harvard Business School. All rights reserved. Harvard Business Publishing | 60 Harvard Way | Boston, MA 02163 Customer Service: 1-800-545-7685 (617-783-7600 outside the U.S. and Canada)