How does mobile technology contribute to financial inclusion? 🔊
Mobile technology contributes to financial inclusion by providing access to banking services through smartphones. Mobile banking apps allow underbanked populations to conduct transactions, save money, and access credit without needing traditional banking infrastructure. This accessibility empowers individuals and small businesses, fostering economic development. Additionally, mobile payment systems enable secure transactions, enhancing user convenience. By leveraging mobile technology, financial institutions can reach wider audiences, driving financial literacy and overall economic growth in emerging markets.
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