A2 RW Ch2 L4 · Mobile Money & Staying Safe — Chapter 2 Review
People living in extreme poverty (under $1.25 a day)
Middle East & North Africa 1.7%
Latin America & the Caribbean 4.6%
East Asia & the Pacific 7.9%
China 11% · Russia 13%
India 22% · South Asia 24.5%
Sub-Saharan Africa 46.8%
Dem. Rep. of Congo 86%
📘 Học trước khi làm · 🛡️ Soft skill · Protecting your money
“Protect Yourself and Your Money”
Protect your data — never share your bank account or card details with a person or business you don’t trust.
Check — if a website doesn’t use https, it is not safe. Don’t use it.
Report it — if you have been scammed or received a threatening email, tell Student Services or the police.
Check, then share your ideas 🛡️
1Although some people worry that mobile money could hurt the poor, others believe that digital cash could actually help end poverty. According to the Bill and Melinda Gates Foundation, around 2 billion people do not have bank accounts. Most people who live on less than two dollars a day do not live near a bank. Many live in rural areas—not in cities—and pay with cash. As a result, it can be hard for them to receive money from employers, pay bills, and send money to others. These financial difficulties can maintain or keep the cycle of poverty going.
2Companies around the world are trying to create mobile payment systems that could reach the poor. One example of a successful mobile payment system like this is M-Pesa™. Safaricom™ and Vodafone®, two mobile telecom companies, started M-Pesa in 2007 in Kenya. Today, more than two-thirds of the adults in Kenya have M-Pesa accounts. It works on a basic mobile phone, which is a lot cheaper than a smartphone. People can go to a Safaricom shop and give them cash to add to their M-Pesa account. Then they can use their phone to make payments and transfer money. Safaricom does not charge high fees for making transactions.
3Unfortunately, most people in rural Asia and Sub-Saharan Africa do not have access to the Internet or to reliable electricity. However, scientists and companies are focused on changing this. They are trying to bring reliable electricity and Internet to rural populations. This would help the poor have access to mobile financial systems that would make it easier to save and transfer money. It is time to find ways to include the poor in mobile payment systems. This could help break the cycle of poverty.
1Although some people worry that mobile money could hurt the poor, others believe that digital cash could actually help end poverty. According to the Bill and Melinda Gates Foundation, around 2 billion people do not have bank accounts. Most people who live on less than two dollars a day do not live near a bank. Many live in rural areas—not in cities—and pay with cash. As a result, it can be hard for them to receive money from employers, pay bills, and send money to others. These financial difficulties can maintain or keep the cycle of poverty going.
2Companies around the world are trying to create mobile payment systems that could reach the poor. One example of a successful mobile payment system like this is M-Pesa™. Safaricom™ and Vodafone®, two mobile telecom companies, started M-Pesa in 2007 in Kenya. Today, more than two-thirds of the adults in Kenya have M-Pesa accounts. It works on a basic mobile phone, which is a lot cheaper than a smartphone. People can go to a Safaricom shop and give them cash to add to their M-Pesa account. Then they can use their phone to make payments and transfer money. Safaricom does not charge high fees for making transactions.
3Unfortunately, most people in rural Asia and Sub-Saharan Africa do not have access to the Internet or to reliable electricity. However, scientists and companies are focused on changing this. They are trying to bring reliable electricity and Internet to rural populations. This would help the poor have access to mobile financial systems that would make it easier to save and transfer money. It is time to find ways to include the poor in mobile payment systems. This could help break the cycle of poverty.