A tiny town with no banks gets electronic banking

Santiago Nuyoo in Oaxaca, Mexico, has less than 2,000 residents and no bank. But it offers solid evidence that an unbanked community can still access financial services. Under a partnership between the government-owned telecommunications company Telecomm -Telegrafos, Banorte (the country’s largest Mexican-owned bank) and MasterCard, Santiago Nuyoo now has easy access to a financial network. […]