Can E-Payment Systems Revolutionize Finance of the Less Developed Countries? The Case of Mobile Payment Technology

Helmi Hamdi


Technological progress in mobile industry makes mobile phones the most adopted technology of the last decade by the rich as well as poor. Mobile phones were at first intended for voice communication; nowadays they are used for sending and receiving information and they provide many advanced services to their users.  Recent generation of mobile phones allows consumers to carry out transactions in the real and the virtual world by the use of mobile devices through mobile network. It is done by using mobile device such as Cell phone or PDA which is connected to payment access using mobile operator network. The aim of this paper is to analyze the technological evolution of mobile phones and to identify the macroeconomic consequences of their introduction into the financial sector.

Keywords: E-payment system; Mobile payments; Financial exclusion; Economic growth

JEL Classifications: G21; O30; R11

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