Category: Financial Inclusion

FinTech – Mobile Money, Payments and Banking

Today’s consumer expects a seamless mobile payment experience; failing to meet those expectations can be devastating to a brand, idea, innovation and eventually the payments industry. Banks in particular will need to move swiftly if they are to take advantage of the opportunities on offer in the global payments business, or risk losing out to nimbler competitors.Although Mobile Money had been designed as a peer-to-peer payment system but it has gone much beyond the basic idea..

Financial inclusion (Finclusion) – Need or Opportunity

Financial inclusion is a key enabler in reducing poverty & boosting prosperity and to get delivery of financial services at affordable costs to sections of low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. Getting payment products to “understand” each other, or to be “interoperable,” is a big challenge to solve under financial inclusion model.

Mobile Money – Introduction to Basics Part-1

Mobile Money Services essentially was for unbanked & under privileged customers.
Mobile Money suppose to improves life for the Lower segment of society by
Domestic Remittance from cities to villages
Availability of Agents to withdraw cash
Building Savings Culture
Acceptability of Mobile Money under Mobile Financial Services was the biggest break through
Role of Mobile Money Agent is crucial and very critical for success…