In developing markets, where branch
networks are typically less dense, particularly
in rural areas, physical distribution will
continue to evolve, and banks are more
likely to partner with new entrants to
create alternative distribution channels. For
example, M-PESA in Kenya, handles deposits
and payments using customers’ cellphones
and a network of agents. According to a
recent report, the service is now being
used by 90% of the adult population in the
country