In a mountain village in Gilgit-Baltistan, shopkeepers now use mobile banking to pay wholesalers in Rawalpindi. Before the service, cash was sent with drive...
Question 1 Report
In a mountain village in Gilgit-Baltistan, shopkeepers now use mobile banking to pay wholesalers in Rawalpindi. Before the service, cash was sent with drivers travelling on roads that are sometimes closed by landslides. A fieldworker is assessing the change in communication and financial security.
(a) State one item of equipment needed to make a mobile banking payment. [1]
(b) Describe one risk of sending cash with a driver. [1]
(c) Explain two ways mobile banking can support small-business development in this village. [2]
Answer Details
(a) Mobile phone / smartphone. [1] (b) The cash may be stolen / lost / delayed if the road is blocked. [1] (c) Any two: payments can be made quickly without a physical journey [1]; traders can order stock more regularly from distant suppliers [1]; reduced cash handling improves security [1]; links to wider markets may increase sales and income. [1]
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