Boom isn't your everyday mobile banking service.
While much of the attention in mobile payments has focused on affluent smartphone-wielding consumers and their top-tier banks, m-Via has gone the opposite route. The company has built Boom as a service almost entirely devoted to the migrant worker population in the U.S., allowing them to easily set up a bank account they can access on their phone, and use the account to send money back home.
M-Via is tapping into a largely unnoticed, but extremely large segment of the population with its Boom service. The company charges a flat $25 … Read more