Rather than fooling foreigners, is there a possibility to support and recover economic graves? Maybe by adding flavors of mobile payments, low-cost cross-border remittances, electronic payments, and freedom from cash and real currency. It’s important to study the facts of the game, i.e., offerings, but if you’re presented with a real opportunity, don’t risk losing it.
AI-driven mobile data monitoring and offerings are now escalating the usage. Use of artificial intelligence, internet of things on blockchain based security will penetrate big data analytics with machine learning algorithms and going to transform the internet and its usage to a level which is difficult to predict today.
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.
Accessibility is a critical success factor for any service. The role of informal institutions in providing financial services to the members of the community, and concludes by highlighting the opportunities these are present for formal financial service providers but in order to ensure accessibility of banking services, a bank has to have a wide branch network of fully branded brick and mortar marble banking halls with all the necessary security systems. The set up costs of these are so high and to recoup the same, the bank has to pass on the cost to the ultimate consumer.
Artificial Intelligence will boost info security through behavioural biometric intelligence in coming time. Mobile payments security will play the key role in the importance of info-security and privacy in payments. This industry is changing every day i.e it dynamic so why to relay on static method of security.