The "Ultimate Day"

This essay is part of the USAID e-book, ‘Frontiers in Development, which discusses a host of development issues. The essay focuses on how the development of a mobile-phone-based, networked infrastructure with mobile money (mMoney) at its center can change USAID's approach to service delivery and transform its role in the world. It highlights mMoney's ability to accelerate financial inclusion. The essay states that mMoney allows people to safely store and send money to friends and family in need. Payments also become the vehicle for other financial services, such as savings, and remittances. When mMoney reaches scale and becomes networked infrastructure, it leads to lowered transaction costs, private sector creation of sustainable fee-for-service models, and a responsive and accountable government. mMoney also enables direct philanthropy. Kenya's M-PESA is an example of what is possible when mMoney reaches scale. To scale mMoney platform across the developing world, the essay recommends that USAID should:

• Intellectually engage in how best to strengthen this sector;
• Become a courageous user and advocate of these systems;
• Share its infrastructure to enable growth;
• Support public goods such as financial switches and consumer education;
• Expand access to mobile phones to ensure that this future is for everyone, including women.