Digital Transactions

Mobile money systems allow users to visit a store or kiosk and deposit cash into a unique account accessed via cell phone. Once cash is deposited, customers can make payments to individuals and businesses through their phone network, avoiding the need to carry cash or to have access to a bank account. 

​​​​​​In the absence of widespread banking infrastructure and Internet access, mobile money offers people in countries with developing economies the first real alternative to using physical currencies to make transactions. Mobile money was first developed in Kenya in 2007 under the name M-Pesa. The M stands for mobile and pesa is a word for money in Kiswahili, a language spoken in Kenya.

​​​​​​Cryptocurrencies are not issued by a government or single authority, but instead are generated by a computer protocol and rely on an electronic peer-to-peer network. Their value comes from the mutual agreement of their users and their limited supply. The first cryptocurrency, Bitcoin, emerged in 2009 and has received the most attention from the media. Many other cryptocurrencies have been established since.