ONLINE PAYMENTS
Digital payment apps and systems are transforming the banking ecosystem in emerging countries. It would be highly beneficial for the financial institutions of the G7 countries (the most powerful economic entities in the world) to draw inspiration from the mobile wallet phenomenon in Kenya (the M-Pesa system) and in Peru (the BiM system). For a majority of Peruvians and Kenyans, their mobile phone has become both a bank account and a wallet as well.