Mobile money in emerging markets pdf files

Mobile money transaction volumes emerging markets 20112017. Consumer protection issues for digital financial services in. Having developed a new archival dataset that tracks mobile money deployment across 90 emerging economies during 16 years between 2000 and 2015, we address the question of relative economic impact. The report includes a detailed examination of business models employed by leading mfs players. Most people and small businesses in emerging economies today do not fully participate in the formal financial system. Ericsson and homesend partner to make remittances easy and. These services include the extension of traditional brick and mortar branches to agent branches, mobile phone. Financial regulatory frameworks for mobile money are evolving at a fast pace in emerging markets fast for financial regulation, and regular. In particular, what steps can developing and emerging markets take to increase financial inclusion and economic development through fintech. The gsma mobile money for the unbanked handbook january 2010, the ifc mobile money toolkit june 2010.

Mobile phones ar e still not prevalent in some emerging countries such as ethiopia, as well as in some rural areas, leaving room for foreignaffiliated companies to enter and expand into. We explore factors that may affect remittance growth in the context of the global recession. There will be two main trends in communications infrastructure in emerging countries. Pdf mobile payment, which refers to a payment service conducted via. Getting to scal e in emerging markets 4 for example, managing liquidity is the largest cost for agents, representing onethird of their total costs. Working paper guidelines on international remittances through. It highlights differences among the 4 countries and their financial regulatory environment. Future trends in remittances to latin america and the caribbean manuel orozco this briefing offers some reflections on future trends in family money transfers, or remittances, made by immigrants. The regulation of dfs, and mobile money in particular, is currently the focus of considerable discussion and debate among development partners, policy think tanks, industry researchers and academics.

Getting to scale in emerging markets, mckinsey quarterly, february 2012. While the speed, portability, and security of mobile money make it a preferred service in emerging markets, the same qualities make it a preferred channel. Over the next five years, the emerging markets will continue to grow and vehicle sales in the developed world will recover 25. The mobile banking and payment revolution by sunil gupta mobile technology is revolutionizing the global banking and payment industry. The term mobile banking is often used to refer only to customers. Communications infrastructure in emerging countries. The economic and social commission for asia and the pacific.

Mobile money services design and development for financial. Transportation and marketing farmers market promotion program. Mobile money has played a major role in advancing financial inclusion, and the mobile phone is arguably the most powerful instrument of development in history. Acknowledging the limitations of internet banking as opposed to widespread mobile phone penetration, dasgupta et al. By capitalising on the growth of mobile banking technology, virtual currencies represent the next stage in digitally advancing financial inclusion. New technologies enable dfs providers to extend financial services to populations who previously lacked access. Digitally delivered credit policy guidance note cemc fair market practices equitable treatment disclosure redress data privacy and protection unsecured mobile moneybased loan high interest charges due to short term and unsecured nature of loan. This is a paradox the opportunity now exists for greater. From money transfer system to mobile money ecosystem reaches the poor, other barriers might inhibit innovation in financial services for this population segment. Financial inclusion enabler itut technology watch report may 20 globally, more than 2. It identifies and assesses monetisation models and strategies for mfs providers operating in these emerging markets.

Epayments in emerging markets a first data white paper unbanked and rural markets are huge unserved populations looking for a solutionand lower income does not mean that electronic payments are out of reach. With access to homesends growing network of money transfer operators mtos, cash. Role of money role of banks mobilemoney mobilepayments. Even still, these documents may not cover all digital credit products, such as products that exclusively use online platforms instead of mobile money channels. Guideline note mobile financial services alliance for financial. This guideline note on mobile financial services mfs. Mobile money in emerging markets mobile money in emerging markets is the second consecutive report from berg insight that gives first hand insights into the latest developments on the mobile money and remittances markets. Official pdf, 100 pages world bank documents world bank group. The asian development bank adb plays an important role in porting financial inclusion sup fintech across using developing asia. In fact, over the years many successful initiatives targeting lowerincome segments have been established, such as micro payments. It further examines different regulations that have influenced the development of financial inclusion through the use of the mobile financial services in the 4 countries.

Beth cobert, brigit helms, and doug parker, mobile money. The main objective of the research was to identify factors that influence consumers intention to. In terms of manuals for providers, major publications include. Regulatory impact on mobile money and financial inclusion in. This is largely due to the widespread adoption of mobile phones in developing and emerging markets, coupled with the spread of 3g and 4g connectivity. Why emerging markets are dominating mobile browsing. This information was verified with operators via a number of interviews and an online survey of telecoms executives, which resulted in a series of fiveyear forecasts into mobile data usage by service category, traffic and revenues.

Future trends in remittances to latin america and the caribbean. The mobile banking and payment revolution harvard business. Sep 27, 2016 mobile money users will now enjoy new levels of remittance flexibility, choice and value. In emerging markets, lack of earlystage financing leads to inefficient innovation seed prototype, founding team venture pilot, iterate, marketing, sales growth sales, impact mature companie s expand, diversify emerging markets developed markets broad source of funding available. Nartey, phd assistant professor sonoco international business department darla moore school of business 1014 greene street columbia, sc 29208 lite. Mobile money is a financial innovation that provides transfers, payments, and. Finally, mobile money may simply not lower clients and providers costs enough to be truly transformative. Low levels of financial inclusion represent a barrier to socioeconomic development in developing countries. Pdf developing countries lack effective infrastructure.

Juniper researchs mfs mobile financial services in emerging markets report comprehensively evaluates mobile money services in emerging markets. Financial inclusion, the development of novel methods to enable individuals at the base of the pyramid to access formal financial services and become part of the formal. The markets currently operate 7 sites and will expand to 14, in 2020, to meet demonstrated need. Mobile money systems offer a dual promise, as an engine for financial inclusion and as an emerging market business opportunity for providers. This study attempts to draw insights about the implementation of p2g services that might be useful for mobile money providers and governments in others markets, and to highlight the opportunity for partnerships between mobile money. Community development investment center working paper. One is the intensification of competitive environments. Winning in ghana by thembani nkomo 2 with an interest in expanding their operations in ghana need to be aware of why the countrys consumers are attractive, which segments they should focus on, and how they can capture the markets potential most effectively. Emerging trends in consumers financial practices erin b.

This strategic research report from berg insight provides you with 160 pages of unique business intelligence and expert. There was significant research and analysis on this issue in the early years of the development of mobile money, between 2009 and 2011. However, mobile money transfer is at different stages of adoption in emerging markets. Mobile phones offer numerous benefits in emerging markets. Brief protecting consumers, providers, and the system. Mobile markets connect consumers to local producers by sourcing, aggregating and marketing local produce, along with healthy grocery staples, directly to customers. Community development working paper federal reserve bank of san francisco federal reserve bank of san francisco 101 market street san francisco, california 94105 investment center c o m m u n i t y d e v e lop m n t i n v e s t m e n t s c e n t er august f o r money in a mobile age. Mobile financial services in emerging markets juniper research. Pdf mobile payment in emerging markets researchgate. Apr 11, 2017 focusing on consumer protection, competition, mobile money or electronic transactions, agent or branchless banking, customer service or dispute resolution, or payment systems and banking. Overview juniper research provides an in depth evaluation of mobile financial services in emerging markets and future monetisation prospects for key mfs services.

These flows continue to exceed both foreign direct investment and official development assistance. It is my pleasure to present the newly completed toolkit for regional mobile application laboratories mlabs, which was funded by the government of finland. This mustread report provides an indepth analysis of key growth drivers and 5year forecasts for mfs segments, including mobile. In the last five years, many emerging markets have seen an explosion in digital financial services dfs solutions. Mobile money services are being deployed rapidly across emerging markets as a key tool to further the goal of financial inclusion. Mobile money transfer has proved transformational in emerging markets but developed markets are at a much earlier stage of growth. Consumer protection issues for digital financial services in emerging markets september 2015 working paper louise malady1 abstract consumers in many emerging markets are not becoming active users of the digital channels which are now readily available. The adoption and widespread use of mobile phones in emerging markets have opened up diverse opportunities in financial services such as mobile money transfer. Emerging markets are growing faster than developed markets. Pdf on may 1, 2017, fatuma namisango and others published understanding user experience of mobile money services in emerging markets find, read and cite all the research you need on researchgate.