Alberto Jimenez, director of mobile payments at IBM has written an article on TechCrunch, that explains the implications of electronic payments. Ability to generate money related requirements in the society today, like banking, Credit or simple recognition can change lives. But it will have a far wider implications than just opening a bank account. It can open up doors to larger markets for people in both developed and emerging markets.
Jimenez summerizes his thoughts with;
In summary, electronic payments can both accelerate traditional financial inclusion but also open access to relevant services that meet real needs and, more importantly in low-income segments, create new opportunities to generate income.Jimenez, Alberto @ TechCrunch