Digicel's mobile banking service in Haiti has been given a US$2.5 million boost by the Bill and Melinda Gates Foundation.
The money is to help to broaden the reach of financial services to Haitians using their mobile phone, through the Haiti Mobile Money Initiative.
The service allows Haitians to send, receive, and store money using their mobile phones, and is seen as laying the foundation for advanced banking services in Haiti.
Digicel is building the mobile banking service in Haiti, with Scotiabank.
Before the January 12, 2010 earthquake, less than 10% of Haiti's population had access to formal banking services.
The hope is that by using mobile banking services, business activities will be encouraged in Haiti, especially among micro, small and medium sized enterprises.
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