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.
Mobile Payments – Customer interfaces like NFC, USSD, Mobile App and SMS for payments via mobile are in existence for a long time. In-spite of this reality some banks and retailers are still not willing to participate fully. They have legacy reasons like fear of low adoption rate and […]
Payments industry of today has transformed into Payment-Intelligence and this intelligence came after a handshake with artificial intelligence and its bundle technologies. It would not be wrong if we compare it with either payment war, payment jungle or even just payment storm. The disruption in mobile payments domain brought in by well-known technology campus boys i.e. Apple, Android, Microsoft & Samsung can’t be ignored. Though all of them have no prior experience or knowledge in the banking industry. Yet these guys manage to force us to adopt digital money and discard the papers.
Economic Growth – Any country with a solid, stable and raising economy always has a very strong payment system. The impact of electronic payments i.e. money in the form of bits and byte rather than tangible items like paper or coins on economic growth is much higher and […]
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…