Mobile will eat the branch

August 26, 2014

Where mobile money accounts outnumber bank accounts and where they will:

…because most Africans never had access to traditional bank accounts, there are no powerful incumbent interests keeping people locked in them. Almost everyone thinks the mobile payments revolution will come to America someday, but it’s already arrived in much of Africa and will come to dominate that continent before any other.

In the US, Square Cash transactions over a 24-hour period in August:

Square Cash transactions

Meet your customers on their terms.

Via Leo Mirani at Quartz, Matthew Yglesias at Vox, and Brian Grassadonia at Square.