The exponential growth of mobile technology opens new possibilities for microfinances. Billions of peoples don't have access to basic financial services but increasingly have access to cell phones and other mobile devices. It represents an untapped market and potentially huge client base for financial institutions.

The microtransactions poor people need are much more expensive than large retail transactions that financial institutions typicaly manage. But new technologies may make it possible to reduce substantially the cost of serving poor customers.

Poor people need to be able to access to microlending in their villages and slums. Financial Institutions with their high costs and staffing requeriments are clearly not the solution.

Wireless technologies can be used to serve those without access to formal financial services. The project "Community Microtelcos: Telecommunications and Microfinances for The Poor and The Poorest" will provide rural families in the Andes of Peru with access to telecommunications and microfinancial services in their communities for the first time. The project will in particular employ an extremely economical open source technology (Meraki, CUWiN) which support all Web2.0 services, the Wireless Commons License (WCL) which describes the terms and conditions of use, and an unique, cost-efficient and effective way to deliver, commercialize and financing these services.