New York to Create "Public Venmo"

A lot of other states will likely follow suit.

The World Bank estimates that 1.7 billion adults remain "unbanked" today. That is to say, they do not have a bank account with a financial institution or with a mobile money provider.

This is a global issue, but it is most damaging in developing economies:

Thus far, proposed solutions have arrived from giant technology companies like Facebook and Google. …