Mobile Payment Magazine

Mobile Banking & Payments for Emerging Asia Summit: Oct. 8-9, 2012 – Conrad Bali, Indonesia

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Clariden Global presents the inaugural Mobile Banking & Payments for Emerging Asia Summit to discuss the roles of m-banking and m-payments for emerging Asian markets, how industry stakeholders can move towards enabling implementation & adoption while managing regulatory & interoperability barriers.

This 2012 event will discuss the roles of m-banking and m-payments for emerging Asian markets, how industry stakeholders can move towards enabling implementation & adoption while managing regulatory & interoperability barriers in the drive to provide anytime, anywhere banking services to the emerging Asian population.

The Mobile Banking & Payments for Emerging Asia Summit 2012 brings together Asia’s mobile banking & payments stakeholders to discuss the roles of m-banking and m-payments for emerging Asian markets, how industry stakeholders can move towards enabling implementation and manage regulatory & interoperability barriers, in order to penetrate the emerging markets in Asia.

Key Highlights for the conference:

  • 3 Day Dedicated Mobile Banking & Payments Summit
  • 5+ Key Emerging Market Case Studies: Indonesia, Philippines, India, Pakistan, Bangladesh, Kenya
  • 18+ Mobile Banking and Payments Ecosystem Frontrunners
  • 20+ Solutions Driven Presentations for Mobile Channel Stakeholders
  • 24+ Hours of Professional Learning & Networking Opportunities
  • 2 Industry Practitioner Led Workshops to Maximize Your Mobile Banking & Payments Deployments in Emerging Asian

More information: Clariden Global.

Banking the Unbanked: Report Examines Mobile Banking in Emerging Markets

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World Economic Forum, prepared in collaboration with The Boston Consulting Group.

Despite the broad awareness that mobile financial services can serve as a means for “banking the unbanked” on a global basis, widespread adoption has yet to be achieved, according to the Mobile Financial Services Development Report 2011, a new report released by the World Economic Forum and The Boston Consulting Group. According to the report, to meet the financial needs of underserved populations, most countries—even those that have achieved scale with mobile money transfer—should focus on the flexibility of regulatory provisions for nonbank players, the competitiveness of market structures, and the strengthening of financial literacy skills of individuals.

The report provides a comprehensive analysis of more than 100 variables across 20 countries in Africa, Asia, and Latin America. It measures the critical factors necessary to achieve meaningful scale of mobile financial services and meet the needs of billions excluded from the formal economy, and notes that the adoption of mobile financial services is currently confined to a few countries where, historically, access to financial services has been constrained and the scope of services limited to mobile money transfer. The findings suggest that financial services such as savings, credit, and microinsurance are only now becoming available and that regulatory environments, market competitiveness, and financial literacy of end users all need to be collaboratively addressed before meaningful scale can be achieved.

Countries such as Kenya and the Philippines are among the few covered by the report that have achieved adoption levels of more than 10 percent of the total adult population. A defining characteristic of these countries is a dense network of agents—retail access points where it is possible to register account holders and handle cash transactions. However, as these countries look to achieve scale in mobile financial services other than payments, it will be critical for them to focus on factors such as government disbursements through the mobile platform, the competitiveness of their financial and telecom sectors, and better data collection and monitoring to facilitate “test and learn” approaches.

“Including millions in the formal economy by providing them with tools to transact and save can have strong positive economic and social benefits,” said Marc Vos, a partner in The Boston Consulting Group’s Technology, Media & Telecommunications practice. “But public and private stakeholders must first get the basics right: solid and efficient distribution networks close to the consumer, and regulations that combine openness to innovation with protection of consumers and broader financial stability.”

In terms of the array of enabling factors covered in the report, several countries, such as Brazil and India, demonstrate areas of relative strength when compared with countries that have already achieved scale in mobile payments. The ability to leverage existing agent networks and consumer protection in Brazil may facilitate the development of more complex financial services through the mobile platform. The widespread availability of mobile phones within India, the degree of competition within its telecom sector, and recent regulatory changes may drive dramatic improvements in adoption levels.

Estimates of the levels of adoption of mobile financial services in the 20 countries surveyed were compiled through an analysis of deployments done in collaboration with the GSMA Development Fund. A survey of regulators, conducted jointly with the Alliance for Financial Inclusion, provided data on regulations specific to mobile financial services. Data from a number of secondary sources such as the Consultative Group to Assist the Poor were also integrated into the analysis. The report contains a profile for each country featured in the study, including a summary of the relative advantages and disadvantages within its mobile financial-services ecosystem, as well as an extensive listing of data tables showing results for each variable used in the country profiles. The data set is available for download and can also be analyzed online with other World Economic Forum data sets for deeper and customized analysis.

Some report highlights:

  • Few countries have achieved meaningful scale in mobile money transfer—mobile savings and credit services are still in the initial stages of development.
  • Dense agent networks are characteristic of countries that have achieved scale in baseline mobile money-transfer services.
  • Government disbursements through the mobile platform, continued cooperation and innovation among industry sectors, and improvements in the quality of data sharing are opportunities to help unlock growth.

More information: Mobile Financial Services Development Report 2011

 

Source: Boston Consulting Group (BCG)

Western Union Provides Mobile Money to M-PESA Subscribers in Kenya

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Western Union now provides services for consumers to send money directly to the mobile “wallets” of Safaricom M-PESA subscribers in Kenya from 45 countries and territories. According to the company, it’s the first service of its kind in the world.

The expansion of the service to more than 80,000 Western Union Agent locations worldwide follows the successful debut of the offering from Western Union Agent locations and the Western Union website in the U.K.

The service rides on Western Union’s worldwide network and trusted global “hub” for processing cross-border remittances. It also builds on the unprecedented success of M-PESA, a domestic mobile money transfer service in Kenya offered by Safaricom that has attracted more than 13.5 million customers since its launch in 2007.

“We are pleased to extend our service with Safaricom, and we look forward to adding additional functionality for M-PESA users in the near future,” said David Yates, Executive Vice President and President, Business Development and Innovation, Western Union.

The service will allow people to visit one of more than 80,000 Western Union Agent locations in 45 countries and territories across the globe, including the U.S., Canada, Italy and the U.K., and send funds directly to the mobile “wallets” of M-PESA’s 13.5 million subscribers. Funds are delivered generally in minutes.

The service will likely benefit thousands of Kenyans working abroad. According to the Central Bank of Kenya, Kenyans living outside their home country sent US$642 million home in 2010—up from the US$609 million sent home in 2009.

Safaricom CEO Bob Collymore said, “Our customers are very proud of the revolutionary M-PESA service, and this partnership sees us pushing new boundaries to continue to keep Kenya at the forefront of the mobile world. Through this partnership, our customers and their friends and families will benefit from affordable, faster and more convenient international remittances, and the money is available to use straightaway for any M-PESA transaction, or can be withdrawn as cash at any of our 24,000 Safaricom agents.”

Western Union offers the Mobile Money Transfer Service in the Philippines with Smart Communications and Globe Telecom; in Malaysia with Maxis; and in Canada with EnStream. Western Union also has agreements with other mobile operators and banks to introduce the service in the future.

Source: Business Wire

MoneyGram, Iris Wireless and Globe Telecom to Provide Mobile Phone Load Service in Philippines

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MoneyGram, Iris Wireless and Globe Telecom Partner to Provide Mobile Top-Up to Philippines

U.S. consumers can purchase airtime credits for loved ones in the Philippines at any MoneyGram ExpressPayment agent location

MoneyGram International and Iris Wireless announced an agreement to provide global prepaid mobile top-up services that will make it easier for Filipinos living in the United States to stay connected with friends and family in the Philippines.

Per the agreement, MoneyGram will provide load service for U.S. consumers who want to re-load the cell phone minutes of individuals in the Philippines who use Iris Wireless’ partner Globe Telecom as their service provider. MoneyGram is a leader in the payment services industry, and Iris Wireless is a leading provider of messaging services that is connected to more than 850 network operators in 200 countries.

“It also helps Globe extend our reloading channels beyond the traditional sales network.”

International mobile top-up, a complementary service to MoneyGram’s global money transfer business, gives U.S. consumers another way to support those living or traveling abroad by purchasing airtime credits on their behalf. MoneyGram will offer this service through its network of ExpressPayment® retail agents – 35,000 in the United States – including Albertsons LLC, CVS/pharmacy and Walmart.

“MoneyGram’s alliance with Iris Wireless allows our customers to not only pay bills and send money to loved ones; but now they can also help out their friends and family in the Philippines by providing instant credit on Globe Telecom mobile phones,” said Greg Waltz, vice president and general manager of Global Payments at MoneyGram International.

“As demand continues to grow for international prepaid top-up services, Iris Wireless is excited about partnering with MoneyGram and Globe Telecom to provide international airtime minutes home to friends and family members in the Philippines,” said Peter Rinfret, CEO of Iris Wireless.

Unlike in the U.S., where most consumers have contracts for monthly service with wireless carriers, prepaid billing is the standard for most wireless consumers around the world who replenish minutes as they use them.

“As a mobile phone service provider Globe Telecom keeps people connected. This collaboration for international top-up provides us an opportunity to give millions of Filipinos in the U.S. a different way to stay connected to friends and family back home,” said Ferdinand De la Cruz, head of Consumer Sales at Globe Telecom. “It also helps Globe extend our reloading channels beyond the traditional sales network.”

U.S. customers can visit any MoneyGram agent location to purchase airtime credits for family and friends in the Philippines and load credits in various denominations in USD. The cell phone user will receive a text message that their phone has been topped up for a specific amount.

Source: Business Wire