Brazillian Government Has Approved Mobile Bank Markets

The poor in Brazil are underserved, with many of them having no bank accounts and thus relying upon their own cash management to get them through until the next pay day.

However, now it seems that the Brazillian government has approved the use of mobile banking and thus allowed these underserved to tap into mobile banking and payments services through their phones – an item that almost all of the working poor have access to in the country.

The mobile market is growing rapidly in Brazil, setting it up perfectly for new mobile payments and banking providers, as well as a raft of new systems and services for the region as people can now spend and save far more easily.

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