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> It seems safe to assume, then, that the services are having similar effects in poverty reduction and economic development around the world. I'm not so sure.
by MarkMc 10y ago
> It seems safe to assume, then, that the services are having similar effects in poverty reduction and economic development around the world.
I'm not so sure. M-pesa-like services haven't really achieved a critical mass in India, for example.
- sandGorgon 10y agofor a simple reason - credit. India works a trillion dollar economy on a lot of unstructured credit products. One of them (semi illegal) is hawala. The other is cash-on-delivery. Almost 4 billion dollars of India's ecommerce works on cash on delivery. Including Uber - in India, you dont pay for Uber until the NEXT TIME you take a cab!
- vinay427 10y ago> in India, you dont pay for Uber until the NEXT TIME you take a cab! Since when has this been an option? Earlier this year when I used Uber in India I either used cash payments at the end of the trip or credit/debit card as in other countries.
- sandGorgon 10y agoadd a credit card. Because of the two factor requirement, you cannot be charged until you put in a pin. Uber does not ask you for this. It gamifies it so that the next time you use Uber, it reminds you to first pay the previous bill before you use it again.
- vinay427 10y agoPerhaps that will change with the demonetization scare recently. If I were holding substantial amounts I would be concerned about the future validity of my money.