scholarly journals PROTECTING MOBILE MONEY CUSTOMER FUNDS IN CIVIL LAW JURISDICTIONS

2016 ◽  
Vol 65 (3) ◽  
pp. 705-739 ◽  
Author(s):  
David Ramos ◽  
Javier Solana ◽  
Ross P Buckley ◽  
Jonathan Greenacre
Keyword(s):  
Developing Countries ◽  
Financial Services ◽  
Common Law ◽  
Civil Law ◽  
Effective Response ◽  
Mobile Money ◽  
Regulatory Issues ◽  
Potential Customers ◽  
Practical Recommendations ◽  
Direct Regulation

AbstractThe provision of financial services through mobile phones is a powerful tool to foster financial inclusion, and thus economic growth, in developing countries. However, it raises important regulatory issues. Given the vulnerability of most potential customers of these services, the protection of customer funds is important. In common law countries, trust accounts are an effective response to these concerns. In civil law jurisdictions however, in the absence of trusts, protection of customer funds is more difficult. This paper identifies the theoretical and practical problems that regulators in civil law jurisdictions might face when trying to protect customer funds and explores how fiduciary contracts, mandate contracts and direct regulation might be used to achieve this goal. It offers a series of practical recommendations for policymakers in developing countries that provide a range of regulatory options that combine private law and regulation.

scholarly journals Innovations in emerging markets: the case of mobile money

2019 ◽  
Author(s):  
Adeline Pelletier ◽  
Susanna Khavul ◽  
Saul Estrin
Keyword(s):  
Developing Countries ◽  
Emerging Markets ◽  
Transaction Costs ◽  
Emerging Economies ◽  
Financial Services ◽  
Spillover Effects ◽  
Financial Inclusion ◽  
Legal Rights ◽  
Mobile Money ◽  
Policy And Strategy

Abstract Mobile money is a financial innovation that provides transfers, payments, and other financial services at a low or zero cost to individuals in developing countries where banking and capital markets are deficient and financial inclusion is low. We use transaction costs and institutional theories to explain the growth and impact of mobile money. Having developed a new archival dataset that tracks mobile money deployment across 90 emerging economies during 16 years between 2000 and 2015, we address the question of relative economic impact of the banking and telecoms sectors in the provision of mobile money. We show that telecom groups and not banks are more likely to launch mobile money in countries where legal rights are weaker and credit information less prevalent. However, it is when mobile money is offered via a banking channel that the spillover effects on the economy are greater. Findings have significant implications for policy and strategy.

Mobile Money

2021 ◽  
pp. 146-174
Author(s):  
Tavneet Suri
Keyword(s):  
Developing Countries ◽  
Mobile Phone ◽  
Financial Services ◽  
Developing Economies ◽  
Not Given ◽  
Mobile Money ◽  
The Future

The chapter focuses on mobile money—one of the most celebrated innovations in the developing economies, that adds service over the mobile phone. The chapter highlights the economics behind the product, what may have driven to the wide adoption of mobile money in developing countries and the impacts it has had on the users of the financial product. The focus is mainly on the Kenya-based M-PESA given its success, but also discusses more recent innovations that build on mobile money systems to deliver additional financial services and value. It is noted that although these innovations exist, they have not given rise to a thriving Fintech sector. The chapter therefore also discusses the constraints to the growth of mobile money and what this implies for the future of mobile money in developing economies, and where the most exciting opportunities for research may be.

scholarly journals The Diffusion of M-Pesa in Developing Countries: Convergence Program Lead Vodafone Albania Sh.a, Tirane, Albania

2019 ◽  
Vol 5 (2) ◽  
pp. 43
Author(s):  
Elvis Bregu ◽  
Bitila Shosha
Keyword(s):  
Developing Countries ◽  
Case Studies ◽  
Financial Services ◽  
Financial Inclusion ◽  
Review Of The Literature ◽  
Banking Services ◽  
Mobile Money ◽  
The Way

The purpose of this study is to investigate whether this kind of innovative service was successful in all developing countries. Prior to the introduction and implementation of M-Pesa, people used a variety of formal and informal channels to save or send money to others. It is supposed that through mobile money technology, the population currently out of the reach of financial services will be integrated as formal players into the market and that informal ways of transferring money will be reduced (Jenkins, 2008). Financial inclusion is an issue that has gathered a lot of attention among policymakers and researchers and is referred to as a process that guarantees ease on access, availability and also the usage of banking services for all householders of a country (Sarma, 2010). Without doubt, the introduction of M-Pesa in Kenya has deeply changed the way through which transactions occur. Based on the review of the literature but also the case-studies on the application of M-Pesain Albania and other countries, at the end of the paper we give some important conclusions.

Mobile Financial Services in Emerging Countries

2018 ◽  
pp. 109-128 ◽  
Author(s):  
Joseph Kwame Adjei ◽  
Solomon Odei-Appiah
Keyword(s):  
Developing Countries ◽  
Technology Adoption ◽  
Financial Institutions ◽  
Financial Services ◽  
Emerging Countries ◽  
Major Barrier ◽  
Regulatory Issues ◽  
Bus Driver ◽  
Mobile Financial Services ◽  
Financial Transactions

This chapter describes a recent World Bank report which indicated a sizable percentage of households in developing countries do not have access to formal accounts with financial institutions. The situation has created a major barrier in the quest for a world without poverty due to the exclusion of segments of society from the formal financial system. The phenomenon has resulted in the exclusion of many from traditional financial services, thus the use of other means to conduct informal financial transactions. In Ghana, many households rely on domestic informal forms of remittance to relatives and payments. Such informal mediums of remitting money to and from relatives in Ghana (e.g. via “Bus Driver”) received wide patronage irrespective of the associated risks until mobile financial services were introduced. This chapter discussed Mobile Financial Services (MFS) from the perspective of emerging economy and treats the following topics; technology, adoption and the regulatory issues in MFS.

The Evolution of a Nation

2011 ◽  
Author(s):  
Daniel Berkowitz ◽  
Karen B. Clay
Keyword(s):  
Political Competition ◽  
Common Law ◽  
Civil Law ◽  
Legal Institutions ◽  
Colonial History ◽  
Legal Systems ◽  
Water Transportation ◽  
Long Run ◽  
Access To Water ◽  
Late Twentieth

Although political and legal institutions are essential to any nation's economic development, the forces that have shaped these institutions are poorly understood. Drawing on rich evidence about the development of the American states from the mid-nineteenth to the late twentieth century, this book documents the mechanisms through which geographical and historical conditions—such as climate, access to water transportation, and early legal systems—impacted political and judicial institutions and economic growth. The book shows how a state's geography and climate influenced whether elites based their wealth in agriculture or trade. States with more occupationally diverse elites in 1860 had greater levels of political competition in their legislature from 1866 to 2000. The book also examines the effects of early legal systems. Because of their colonial history, thirteen states had an operational civil-law legal system prior to statehood. All of these states except Louisiana would later adopt common law. By the late eighteenth century, the two legal systems differed in their balances of power. In civil-law systems, judiciaries were subordinate to legislatures, whereas in common-law systems, the two were more equal. Former civil-law states and common-law states exhibit persistent differences in the structure of their courts, the retention of judges, and judicial budgets. Moreover, changes in court structures, retention procedures, and budgets occur under very different conditions in civil-law and common-law states. This book illustrates how initial geographical and historical conditions can determine the evolution of political and legal institutions and long-run growth.

Is Style of Reasoning a Fundamental Difference Between the Common Law and the Civil Law?

2017 ◽  
Vol 17 (2) ◽  
pp. 238-290
Author(s):  
Colm Peter McGrath ◽  
◽  
Helmut Koziol ◽  
Keyword(s):  
Common Law ◽  
Civil Law ◽  
Fundamental Difference ◽  
The Common

The Role of Mobile Money in Moderating Financial Exclusion: A Tanzanian Experience

2020 ◽  
Vol 2 ◽  
pp. 1-24 ◽  
Author(s):  
Deogratius Joseph Mhella
Keyword(s):  
Developing Countries ◽  
Financial Institutions ◽  
Banking Sector ◽  
Research Question ◽  
Microfinance Institutions ◽  
Mobile Money ◽  
Access To Credit ◽  
Financial Exclusion

Prior to the advent of mobile money, the banking sector in most of the developing countries excluded certain segments of the population. The excluded populations were deemed as a risk to the banking sector. The banking sector did not work with cash stripped and the financially disenfranchised people. Financial exclusion persisted to incredibly higher levels. Those excluded did not have: bank accounts, savings in financial institutions, access to credit, loan and insurance services. The advent of mobile money moderated the very factors of financial exclusion that the banks failed to resolve. This paper explains how mobile money moderates the factors of financial exclusion that the banks and microfinance institutions have always failed to moderate. The paper seeks to answer the following research question: 'How has mobile money moderated the factors of financial exclusion that other financial institutions failed to resolve between 1960 and 2008? Tanzania has been chosen as a case study to show how mobile has succeeded in moderating financial exclusion in the period after 2008.

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