PlaNet Finance to Enhance the Poor’s Access to Financial Services

PARIS -- PlaNet Finance received a $1.7 million grant from the Bill & Melinda Gates Foundation to support a Mobile Banking Project. The Mobile Banking Project, which is co-developed with Orange, will help PlaNet Finance use its existing mobile phone platform and infrastructure to provide microfinance clients with enhanced access to banking services.

Today, 1 billion people have a bank account, but 3 billion have a mobile phone. Mobile banking has the potential to bring financial services to the most rural and remote populations, providing poor people with limited access to these services the opportunity to save money, pay bills and apply for microloans.

To read the full press release, visit the PlaNet Finance web site.