Can We implement mobile microfinance in USA?
If the question is, “Do I think mobile microfinance will be successful in the United States of America; then my answer is yes it could be. India, United States and other countries around the world are plagued with poverty. Mobile microfinance provides opportunities to those who otherwise would not be able to afford. There are plenty of low income families in the USA that could utilize and benefit from financial services. Whether it’s help to buy a cell phone, financial literacy training or credit rebuilding etc; mobile microfinance gives an individual who might not have a permanent residence the apply for jobs etc. For example, the District of Columbia alone has a poverty rate that exceeds the national average. Mobile microfinance could be a catalyst to building money minded people. Mobile microfinance is also a great idea because it gives self-employed people an opportunity to tap in to a cell phone industry and provide even more competition. I also think it is important that mobile microfinance provide education about a financial lifestyle and not just a quick fix. There so many opportunities for mobile microfinance to team up with other programs and organizations. Name recognition is one of the keys to providing the service to a specific group of people. Another reason why I think it will work in USA is that in today’s generation trending topics and the new thing pushes the supply and demand. So, if mobile microfinance team up with the right organization and the right sponsorship. It would have just enough momentum to open new doors on how things are done.