BRICKS AND MOBILE: Wipit CEO Richard Kang hopes to take a page from M-Pesa, which built a mobile payments network in Kenya by relying on physical stores that sell prepaid cellphones. "It seems to be working in many parts of the world," Kang says.

Boost Mobile Makes a Play for the Unbanked

The prepaid phone carrier, which is teaming with a mobile banking startup called Wipit, believes that its large retail footprint in low-income neighborhoods offers an opportunity to challenge check cashers and prepaid card issuers.

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