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Shortly after, the Gates Foundation announced a $12.5 million grant to support mobile banking christian louboutin in Asia, Africa, and Latin America. So far, 120 such programs have launched in developing countries.Mobile banking has already been successful in countries such as Kenya, where Vodafone's branchless banking service, called M-Pesa, has more than 8 million open accounts. But for the concept to really prove its worth, it will have to work in India. Despite its booming economic growth, India is home to roughly one-third of the world's poor, and 61 percent of rural Indians did not have bank accounts in 2007. Eko is still relatively small, with projects around Delhi and Christian Louboutin Sandals four rural areas of the state of Bihar. After 15 months of operation, more than 30,000 accounts are active.Other obstacles persist. Can you ensure that agents don't open accounts for money launderers or terrorists? And some worry about customer exploitation in the form of little fees - charged by the platform providers like Eko, stores, banks, and even the government. But choice and competition are the best remedies for exploitation, says Ignacio Mas, deputy director of Financial Services for the Poor at the Gates Foundation. "Today, poor people don't have many choices, which is why they often find themselves in the hands of varyingly scrupulous local moneylenders, or opt to just hide their cash," he says.The discounted Christian Louboutin Boots of such services are already clear to Eko customers like Kumar. Hisfamily lives in the city of Meerut, four hours by bus from Delhi. He makes the trip about once a month, bringing cash to his relatives when he can afford to; last time he delivered 12,000 rupees (roughly $264). If Eko or some other branchless banking project truly takes off, Kumar will be able to send funds to his family much like he sends text messages. His relatives, in turn, will go to a shop in Meerut and either redeem the cash or make purchases electronically. Kumar, meanwhile, will be discounted Christian Louboutin Shoes sale to save a bunch of time.Hornabacher shares her experience when she went to the Walker After Hours to see the preview of the new exhibit Abstract Resistance.