Mobile financial services (MFS) may reduce the number of unbanked in Pakistan by 20 per cent by 2020. In India the number of people with formal savings accounts could increase by 142 million. In Bangladesh it could increase tax revenues with US$500 million. And in Serbia it could lead to 23,000 new jobs being created. These are some of the findings in a recent study, carried out by Boston Consulting Group on behalf of Telenor Group, exploring the effects of mobile financial services in five markets over the next decade.