recommended reading

The world's largest payment platform can reach 2 billion people

style-photography.de/Shutterstock.com

When Jana co-founder Nathan Eagle needed to connect to a cell carrier in the developing world, he'd come to meetings with a duffel bag full of cash and say that he wanted to buy airtime. For carriers who were taking on more customers than ever, but struggling with declining revenue per user, it was an irresistible sales pitch. The result, two years later, is that Jana is now the largest payment platform in the world.

Eagle describes Jana as an "opt-in mobile network" that pays users to fill out consumer surveys and try products. The company has access to 100% of the users on 237 cell carriers in 101 countries throughout Asia, Africa and Latin America.

By 2004, there were more mobile subscribers in the developing world than in developed countries, and the gap has been widening ever since. In 2012, Jana estimates that of the 6.5 billion mobile subscriptions on Earth, 5 billion are in emerging markets. The World Bank estimates that 75% of the people on Earth have access to a mobile phone. According to the McKinsey Quarterly, three billion people are projected to move into the middle class in the next twenty-five years. Right now their mobile devices are in some respects the most direct way to reach them.

Eagle comes from an academic background--he has appointments at Harvard and MIT and once more than a year as a Fulbright professor in Kenya--and his roots lie in using technology for development and social good. Jana was born, in part, of Eagle's success in setting up a network in rural villages in Kenya for nurses to text in status reports on supplies of hospital blood banks.

Jana's network, which is connected directly to the computer systems used by mobile carriers around the world, doesn't send actual money; instead, it gives mobile-phone credit. In emerging markets, where, according to Eagle, the average user spends 8%-12% of his or her income on prepaid mobile service, that's almost as good as cash.

Read more at Quartz.

(Image via style-photography.de/Shutterstock.com)

Threatwatch Alert

Network intrusion / Stolen credentials

85M User Accounts Compromised from Video-sharing Site Dailymotion

See threatwatch report

JOIN THE DISCUSSION

Close [ x ] More from Nextgov
 
 

Thank you for subscribing to newsletters from Nextgov.com.
We think these reports might interest you:

  • Data-Centric Security vs. Database-Level Security

    Database-level encryption had its origins in the 1990s and early 2000s in response to very basic risks which largely revolved around the theft of servers, backup tapes and other physical-layer assets. As noted in Verizon’s 2014, Data Breach Investigations Report (DBIR)1, threats today are far more advanced and dangerous.

    Download
  • Featured Content from RSA Conference: Dissed by NIST

    Learn more about the latest draft of the U.S. National Institute of Standards and Technology guidance document on authentication and lifecycle management.

    Download
  • PIV- I And Multifactor Authentication: The Best Defense for Federal Government Contractors

    This white paper explores NIST SP 800-171 and why compliance is critical to federal government contractors, especially those that work with the Department of Defense, as well as how leveraging PIV-I credentialing with multifactor authentication can be used as a defense against cyberattacks

    Download
  • Toward A More Innovative Government

    This research study aims to understand how state and local leaders regard their agency’s innovation efforts and what they are doing to overcome the challenges they face in successfully implementing these efforts.

    Download
  • From Volume to Value: UK’s NHS Digital Provides U.S. Healthcare Agencies A Roadmap For Value-Based Payment Models

    The U.S. healthcare industry is rapidly moving away from traditional fee-for-service models and towards value-based purchasing that reimburses physicians for quality of care in place of frequency of care.

    Download
  • GBC Flash Poll: Is Your Agency Safe?

    Federal leaders weigh in on the state of information security

    Download

When you download a report, your information may be shared with the underwriters of that document.