T-Mobile recently announced a partnership with BankMobile to offer mobile money accounts to serve the underbanked population in the U.S.; the wireless carrier is looking to succeed in a space that has largely flopped in the U.S.; mobile money accounts have been a big success overseas, like M-Pesa in Kenya; this isn’t the first time T-Mobile has tried to court younger customers, they previously launched a prepaid card and mobile wallet joint venture; the new accounts will be a good test case for the market as more consumers are using digital means for banking than ever before. Source.
