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Payment Innovation: How to Engage 5.1billion Phone Users

Payment Innovation: How to Engage 5.1billion Phone Users

According to the American Academy of Cosmetic Dentistry, 5.1 billion people have a cellular phone but only 4.2 billion people have a toothbrush. There are more mobile phone users in the world than toothbrushes users. For those companies involved in the payment chain, this statistic should illustrate that the phone technologies present an opportunity. Phones technology allows access to a previously inaccessible new customer base that formerly relied on the existence of formal bank accounts.

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