Problem: The way that credit is calculated today is not scalable to countries where credit cards are not used (e.g. only 16% of people in Mexico have a credit card).
Solution: A credit agency that in addition to using factors such as credit card debt to determine a credit score also uses non-traditional sources of worthiness such as ability to pay subscriptions (and length of subscription service accounts), recurring bill payments (even if these payments are not on credit cards), and/or mobile-phone/cardless payments.
Monetization: Since the business is essentially a credit agency, institutions that want to check the “mobile credit” of a customer would have to pay a nominal fee. Target market would be the “next 3 billion users” (Africa, India, and China).
Contributed by: Billion Dollar Business Ideas