Will Banks ever be successful in Mobile Financial Services

– This article is only meant for discussion and healthy arguments, its not a conclusion by any means this is just an assumption and current picture focused on African & few other markets. Today payment industry can be compared with either payment war, payment jungle or even just payment storm. On the other hand how Mobile Financial Services have brought FinClusion (financial inclusion) to millions of people that have no access to traditional methods of banking. In many parts of Africa, there simply exists no bank infrastructure for people to be able to bank in the traditional way. Even where they do exist, people do not dare to enter into the big bank halls due to killing charges, KYC requirement equivalent to climbing the mount everest and time to travel miles to go or even time to stand in long queues or have the patience to go through the bank's processes.