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Kenya Goat Traders And Their Bank-Less Mobile Payments

Written by Evan Schuman
February 25th, 2008

The stops and starts of mobile commerce in the U.S. has been well reported, along with the fact that many parts of Europe and Asia are well ahead of us. But here is a fascinating CNN report out of Kenya that details mobile-commerce efforts among–so help me–goat traders.

No, we’re not talking about Wall Street sorts, as in oil traders. We’re talking people working the fields selling and buying goats, where all funds quickly get converted into virtual dollars. There are no bank accounts nor credit cards behind these transactions. It goes from cash to mobile.

Posted in E-Commerce, Payment Systems, Security/Fraud
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