One of the hottest start-ups in the U.S. is Square, a credit-card reader and mobile app developed by Twitter co-founder Jack Dorsey. But Monitise and Fundamo – two technology companies that have teamed up with credit card company Visa — are helping traditional players such as mobile operators and banks to push such services to people in countries like Pakistan, where 85% of the population is unbanked, as well as customers in developed markets like the U.S. and Europe, a far bigger and more lucrative business.Read more

With all the hype around Google Wallet, many people think mobile money will be driven by the U.S. But the biggest growth – and the greatest amount of innovation – is coming from the developing world, in places like Pakistan, India and Bangladesh.

Over half of the world’s population lives without reliable banking institutions, relying instead on cash stuffed under the mattress and the use of informal couriers. In India alone there is an opportunity to add at least 300 million people to the banking system.Read more