Category: Mobile Money
Remittances – Game Changer For Economic Development
If just for a minute we can assume every person on this planet has mobile phone, every mobile user has a bank account/wallet, every bank account is created instantly, virally and at no cost, No bank charges exist,
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2017 Year of AI & Digital Payments
To draw a rough sketch of exaggerated scenario of how these two technologies (AI & FinTech) may interact with us in the future and what warrants the, perhaps perplexing, 2 super powers. AI’s Control systems are widely used. They govern how a simple thermostat adapts to a target temperature.
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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.
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Mobile Money – Subscribers (Thoughts & Experience)
The success of mobile money heavily depends on accessibility. The agent is the primary access channel for mobile money as the conduct agent-centred transactions like registrations, cash-in and cash-out transactions, Agents trade mobile money for a commission.
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Mobile Money Basics : Part-2
Mobile Money, Mobile Payments, Mobile Banking and Mobile Commerce can be termed Mobile Financial Services. The magic word known as “Pay” has gone viral in today’s time and every day we have 1 or 2 new startup’s entering the payment industry, specifically into the Mobile Payment domain. Mobile phones can be used to deliver a range of banking services. Not from Banks, I am separating banking and banks. Banking services dont need banks any more. Transaction data can be used to develop customers’ credit histories to offer other top-up services.
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Mobile Money – Key Stakeholders
Technology is a friend/ helper not as tester or rocket science; MFS product use and accessibility needs to be simple for people to make them comfortable and pull out maximum benefits especially for unbanked who have not seen the real MFS. Study from google shows that globally, mobile money users transacted a total of USD 7.5 billion through 479.5 million transactions in the month of December 2014. If cash-ins and cash-outs are included, mobile money users performed 717.2 million transactions, total of USD 16.3 billion.
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Mobile Money vs Mobile Banking
Mobile Money and Mobile Banking are viewed under the same umbrella and are currently encapsulated in a financial world which is either too complicated or is viewed as complicated. Mobile money requires phone number as account number while Mobile banking requires bank account number as primary transaction identity. As far as Mobile Money and Mobile Banking are concerned
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Apple Pay: Was Innovation or Repetition
What has been transformed in the markets by existing and new companies is their emergence to capture available opportunities. While mobile money or FinTech’s banking often gets described as a money transfer product, the reality is much beyond that. This has a blend of big data, data science, AI, and machine learning built in.
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Mobile Financial Services – Powerful Tool for mCommerce
With the advancement in technology like artificial intelligence, quantum computing, blockchain, etc. organizations outside the banking industry are diversifying and demystifying financial services. Targeting small & succinct margins in the space they are making a lot. These were organizations servicing millions of customers through broad distribution channels, be they, mobile operators, mobile handset manufacturers, retailers, or online merchants.
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Mobile Money Services – Expectations vs Experience
The promotion of financial inclusion has resulted in the development of inclusive digital environments, and this digital revolution has proliferated globally. At the foundation of this shift is an IT system driven by data science and machine learning techniques. The exertion of educating, embracing, and acknowledging customers may have influenced the achievement that has been noted. The growth of including finances has offered greater benefits and advantages to customers and mobile financial services entrepreneurs.
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Mobile Money and Mobile Payments – Intro to MFS
Mobile Money and Mobile Payments – Mobile Financial Services or FinTech Intelligence platform usually allows various users to access its services. Service access channels are […]
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2013 The Year of Mobile Money
From a financial inclusion perspective, mobile money services were essentially for unbanked and underprivileged customers, but due to the unavailability of a Ministry of Innovation as well as strong control from central banks, this got lots of support and attention, resulting in rapid growth for those providers who got the principles right, though the majority of such services failed (no offense to any, just referring to the statistics available across the globe on successful and vanished mobile money deployments).
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Introduction to Mobile Money Basics
The topics of mobile financial transactions and advanced computer intelligence are currently on everyone’s lips. The mobile money industry serves as a prime illustration of how to establish successful business models that require minimal technical assistance through the utilization of effective maturity levels, strategies, and comprehension.
