Enter mobile banking. Allowing the world’s poor to set up digital bank accounts accessible via cell phones has a significant impact on quality of life and poverty reduction. M-banking allows people to check their balances, pay bills, receive payments, and send money home without giant transfer fees, as well as avoid the increased personal security risks that come from carrying cash. In Kenya, where many poor people work very far away from home, workers would frequently disappear for three to four days after getting paid—the amount of time it took to get that money to their families— so being
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