IFC Mobile Money Study 2011 : Summary Report
Mobile money (m-money) refers to the use of mobile phones to perform financial and banking functions. However, the technology is far ahead of the infrastructure of financial and technical network service providers needed for an m-money system to fu...
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| Language: | English en_US |
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Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2011/01/24117659/ifc-mobile-money-study-2011-summary-report http://hdl.handle.net/10986/21743 |
| Summary: | Mobile money (m-money) refers to the use
of mobile phones to perform financial and banking functions.
However, the technology is far ahead of the infrastructure
of financial and technical network service providers needed
for an m-money system to function. This study was undertaken
to increase the understanding of m-money and to address key
issues in scaling up development of m-money services
globally. It examines the potential demand for m-money,
national regulatory environments, major obstacles, and the
requirements of potential service providers and networks to
run m-money services as viable businesses. Four countries -
Brazil, Nigeria, Sri Lanka, and Thailand - each of which
represents a different world region, socioeconomic
situation, and financial sector context, were included in
the study. The countries were analyzed in terms of m-money
business models, money flows and demand, potential user
perceptions and behavior, regulations, and agent networks.
In each country, an m-money service provider acted as a
partner institution. To place these four countries in the
wider context of m-money developments, three case studies -
Japan, Kenya, and the United States were also examined. The
size of potential opportunities for m-money were quantified
through demand estimates and compared with estimates in the
three reference countries. Chapter one provides an
introduction to the study's objectives and context, and
explains the definition and positioning of m-money used in
this report. Chapter two presents case studies of the
prominent m-money countries Kenya and Japan, as well as the
United States. Chapter three presents an overview of the
four country study findings and analysis. Chapter four
describes the m-money business models adopted in each
country and the challenges that each country faces. Chapter
five concludes by placing each country along an m-money
demand curve and explains the impact of this placement on
the development of an opportunity for m-money. |
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