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For all those U.S. operators hoping that mobile payments and mobile banking will become lucrative revenue streams with an associated stickiness factor in the coming years, they may have to think again. If a report published recently by Lightspeed is indicative of the mood of the American public, the vast majority really ‘don’t give a damn!’ Not satisfied with just surveying 10,000 ordinary people, Lightspeed targeted existing bank customers and found that only about one-third were...

I’ve just read a heart-wrenching story about a Somali man robbed of $200 then shot dead by his assailants, no doubt a common story in a country racked by over 19 years of anarchy. However, a new mobile money transfer and banking system being introduced by mobile operator Hormuud Telecom could have saved this one life and is set to save many others. Hormuud Telecom is the biggest network in Somalia with more than a million subscribers. It designed the software for its SAAD money transfer service,...