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This paper introduces the actualities of branchless banking, a financial enterprise without branches, to show that, despite its current difficulties, it can effectively help developing countries modernize. It enables the poor in these countries to easily access to financial services. I describe the characteristics of this new financial project in comparision with microfinance and mobile banking. Then, by taking M-PESA in Kenya
as a pioneering example of branchless banking, I suggest that M-PESA's success crucially illuminates the future expansion of the brand-new banking.