This document discusses how mobile banking and payments can help penetrate emerging markets in Asia. It argues that while banking involves taking deposits and lending money, payments are a subset that allows transferring value between people. Mobile banking and payments represent the latest improvements to this ancient service of banking, providing convenient new ways for customers to store, access, and transfer money via mobile and digital channels. Though the core functions of banking have not changed, mobile is revolutionizing who can provide these services and how customers access them, with significant impacts like lower costs, broader financial inclusion, and new business opportunities that can reduce poverty.