Literally stuffing cash in a mattress: People in rich countries can drive or walk to the bank, use digital services like PayPal and write checks that can be deposited, sometimes even by taking a picture with a smartphone.
Those aren’t really options if you don’t have a bank account. People in poor countries often keep cash at home, literally stuffing it in the mattress. Or they invest it in an asset like lifestock that can lose value over time.
“If their savings are in the form of jewelry or livestock, for example, they can’t very well chip off tiny pieces to cover routine daily expenses,” Bill and Melinda Gates wrote.
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