Dotfinance Panel

Did you remembered my post from June-2014,

 Will – Banks ever be successful in Mobile Money or Payments ?.

Enjoyed a great panel on #fintech #mobilemoney & products for next billion consumers with industry leaders. In April met excellent leaders from west and north Africa at  NGT Summit in Pretoria – South Africa and now in 1st week of May met with another set of good people in Nairobi-Kenya at dot finance Africa. Here is the link for my presentation at South Africa.  Africa is far ahead from rest of the world.

Mobile Money & Mobile Payments

Africa is the land/Home of Mobile Money and Mobile is most frequently used and widely acceptable technological device then any other. Financial services are a key need for most people due to almost less negligible banking penetration and it makes sense to enable Mobile devices with set of financial tools and features as mobile handset penetration is more then 10 to 15 times higher then banking. Finance sector can take advantages of Mobile devices to penetrate all classes of society so the birth of Mobile Money

  1. Mobile Money Services essentially was for unbanked & under privileged customers.
  2. Mobile Money suppose to omproves life for the Lower segment of society by
    1. Domestic Remittance from cities to villages
    2. Availability of Agents to withdraw cash
    3. Building Savings Culture
  3. Acceptability of Mobile Money under Mobile Financial Services was the biggest break through
  4. Role of Mobile Money Agent is crucial and very critical for success of service
  5. Who can be an agent , how agent distribution needs to be plotted on city/country map is also very very critical
    1. Mobile money refers to Payment Services operated under financial regulation and performed from or via a mobile device. Instead of paying with cash, cheque, or credit cards, a consumer can use a mobile phone to pay for a wide range of services and digital or hard goods.
    2. In developing countries mobile money solutions have been deployed as a means of extending financial services to the community known as the “unbanked” or “underbanked,” which is estimated to be as much as 50% of the world’s adult population.
  6. How Mobile Money Improve life of Lower segment of society
    1. Mobile money is mostly used for domestic remittances. Remittance transactions are usually from cities to villages. They emanate from the need for the working class to take care of the kinsmen in the rural areas. International remittances are also taking good share of this pie
    2. Mobile money thrives on accessibility of services and a wide agent network in both cities and rural areas is required
    3. Savings clubs have been a recent add on to mobile money services and this has assisted club members to save up in an easy and electronic way outside the banking system
  7. Acceptability of Mobile Money
    1. Over the years, acceptability of mobile money as payment media has improved with most economies embarking on a cashless society drive to reduce dependence on a paper currency
    2. Most vendors, retailers and transport operators accept mobile payment as an alternative to cash due to its elimination of cash handling expenses and risks
    3. The introduction of NFC driven payments has revolutionised the market for micro payments
  8. Role & Importance of Agents
    1. The success of mobile money heavily depends on accessibility
    2. The agent is the primary access channel for mobile money as the conduct agent centred transaction like registrations, cash in and cash out transactions
    3. Agents trade mobile money for a commission
    4. They also act as the first contact for subscribers and it is prudent for a mobile money operator to invest in agent education.
  9. Who can/should be an agent
    1. Agent qualification criterion is defined by the operator after considering the requirements of the regulator
    2. Individuals and companies can qualify to be agents and they have to meet the required KYC requirements
    3. The operators agent officers are responsible for recruiting and managing relations with the agents.
    4. The density of agents has to be predefined by the operator to maintain profitability of agents as well as accessibility to subscribers.


Dot Finance Africa

Mobile Money & Mobile Payments

Although Mobile Money had been designed as a peer-to-peer payment system but it has gone much beyond the basic idea and as on date it helps Utility bill payments, Airtime topup, micro savings, micro loans etc. and this forms Mobile Payments ecosystems. Africa especially the eastern / southern part is the home of Mobile Money. Mobile Payments are most frequently used and widely acceptable technological payment instruments.

====================== About the Author =================================

Read about Author  at : About Me   

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Posted by V Sharma

Technology specialist in Financial Technology(FinTech), Photography, Artificial Intelligence. Mobile Financial Services (Cross Border Remittances, Mobile Money, Mobile Banking, Mobile Payments), Data Science, IT Service Management, Machine Learning, Neural Networks and Deep Learning techniques. Mobile Data and Billing & Prepaid Charging Services (IN, OCS & CVBS) with over 15 years experience. Led start ups & new business units successfully at local and international levels with Hands-on Engineering & Business Strategy.


  1. Rob. Shanguro May 2, 2017 at 15:06

    Dear Vinod

    Kindly share presentation on



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