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Like a few other banks with similar initiatives, Wells Fargo is not counting on a financial return for its new accelerator program. Rather, it's looking for more intangible benefits.
August 20 -
Theres no magic potion for providing low-income people with low-cost financial services. But the combination of technology, ingenuity and the capitalist incentive has solved many problems before.
June 24 -
A dearth of relationships with the underbanked has perpetuated the shortage of insight into how low-income consumers manage their finances. Enter the U.S. Financial Diaries.
July 1
The Bill and Melinda Gates Foundation will provide $100,000 to organizations that promote the use of digital payments for the poor.
The grants are part of the foundation's
The current funding round focuses, in part, on increasing the use of mobile payments by small merchants in communities at or near the poverty level.
"The majority of transactions conducted by poor and low-income people still take place using cash including within the small merchant community," Konstantin Peric, a deputy director at the foundation, said in a
The foundation is accepting applications for the Grand Challenges initiative through Nov. 12.
