Today, Telefonica announced that they were launching a new mobile banking program in Latin America, aimed at populations who don't have banking access but have cell phones. The official numbers say this move could impact 175 million consumers. "Building on a number of other major Telefónica initiatives aimed at reducing social and economic exclusion, the project's principal aim is to improve financial access in Latin American markets by providing an m-banking solution to some of the most vulnerable in society - those groups that do not currently have access to banks or financial services," said Matthew Key, CEO of Telefónica Europe.There have been complaints in some Latin American countries about Telefonica and their pricing policies.
Sources : MediaBistro, Cellular News
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