Developing world blazes trail for 2.5bn with no banking access

Jude Webber

Mobile banking could prevent prices from spiking in Peruvian street markets on pay days.

Mobile banking could prevent prices from spiking in Peruvian street markets on pay days.

It is a weekday morning and a dozen or so women are gathering in the patio of a house in Xochimilco, a working-class district in the south of Mexico City.

Ericka López, who sells flowers grown on Xochimilco’s traditional floating gardens, is in charge as one by one, the women step up to the table and hand over bundles of notes, pulling them from their aprons or their fists. Two others write everything down in an exercise book; they are recording the weekly repayments on loans they have taken out.

This is an excerpt of an article originally published at the Financial Times. Please click here to read the entire version.

 

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