A Stakeholder Analysis for Collaborative Mobile Money Service

2013 ◽  
Vol 64 (1) ◽  
Author(s):  
Azza Z. Karrar ◽  
Azizah Abdul Rahman
Keyword(s):  
Mobile Phone ◽  
Financial Services ◽  
Service Provision ◽  
Stakeholder Analysis ◽  
Financial System ◽  
Analysis Approach ◽  
Mobile Money ◽  
Face To Face ◽  
Regulatory Bodies

Mobile money is the use of mobile phone to access financial services by unbanked users who were not previously connected to formal financial system. Providing mobile money service requires collaboration between different stakeholders from different sectors: financial, telecommunication, regulatory bodies and retail agents. The aim of this study is to understand the different mobile money stakeholders’ interests in participating in mobile money ecosystem, their position from collaborative mobile money service provision policy, the different resources that they are willing to participate with and the possible collaboration alliances that they can formulate. Qualitative semi-structured face-to-face interviews were conducted to collect data from different stakeholders in different sectors in Sudan. The data was analyzed using stakeholders analysis approach and results of the analysis were presented using different diagrams that contributes toward better understanding to the mobile money ecosystem in Sudan.

scholarly journals Analysis of Electronic Payment Systems in Ghana - A Case Study of Mobile Payment System

2018 ◽  
Vol 6 (06) ◽  
Author(s):  
Francis Agbenyegah Kwadzo ◽  
Regina Kafui Adroe ◽  
Dr. Michael Asante
Keyword(s):  
Mobile Phone ◽  
Financial Services ◽  
Banking Sector ◽  
Mobile Payment ◽  
Electronic Payment ◽  
Payment Systems ◽  
Next Of Kin ◽  
Bank Account ◽  
Mobile Money ◽  
Money Transfers

Mobile payment is an electronic payment made through a mobile device. As the number of mobile phone subscribers in Ghana increases, so does the market for mobile money services. The majority of Ghanaians lack any formal bank account. An estimated 80 percent of Ghanaians are “unbanked” – meaning they conduct their transactions outside the banking sector with no access to financial services. Products like “mobile money,” that enable safe and secure money transfers without the use of a bank account, could have a major impact on this unserved segment of the population. Mobile money gives anyone with a mobile phone the ability to transfer money, make cash payments and conduct other financial transactions over the phone. Currently, there are four mobile money payment systems in Ghana, namely, MTN mobile money, Vodafone (VF) cash, Tigo cash and Airtel money. For an effective operation of these systems, Privacy, Traceability, Cost of Transaction, and Simplicity of the Processes involved are of much interest. The study examined the loopholes in the current mobile payment systems and proposed a framework to address the loopholes such as: Entering of information on next of kin into the system during registration, acceptance of year of birth as PIN, transactional PIN decrypted, no entering of a Valid ID number into the system, no provision for security word during token cash out, no provision for guarantor information, no provision for BoG permit number, no provision for police clearance number, and data in transit not encrypted. Keywords: Transactions, mobile money, traceability

A skills perspective on the adoption and use of mobile money services in Uganda

2018 ◽  
Vol 35 (5) ◽  
pp. 724-738 ◽  
Author(s):  
Rebecca I Kiconco ◽  
Gerrit Rooks ◽  
Giacomo Solano ◽  
Uwe Matzat
Keyword(s):  
Mobile Phone ◽  
Financial Services ◽  
Adult Population ◽  
The Other ◽  
Sub Saharan Africa ◽  
Cognitive Resources ◽  
Mobile Money ◽  
Mobile Financial Services ◽  
Sub Saharan ◽  
English Literacy

Adoption rates of mobile financial services within sub-Saharan Africa still appear to be below par. The 2016 Groupe Spéciale Mobile Association report shows that over 60 per cent of the adult population in sub- Saharan Africa do not use mobile financial services. We investigate how cognitive resources, namely, mobile phone skills and English literacy, influence the use of mobile financial services. We test our hypotheses using a sample of 208 individuals from an urban location in Central Uganda. We measure actual mobile phone skill using a newly developed scale. The results show that a marginal increase in mobile phone skills has a strong effect on the odds of adopting mobile money, but a less strong effect on the extent to which the functionalities of the mobile money application are used. On the other hand, English literacy has no influence on both adoption and the magnitude of services individuals use.

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 Collaborative Mobile Money Service Provision: Recommendations for National Issues

2018 ◽  
Vol 7 (3.20) ◽  
pp. 304
Author(s):  
Azza Zeinelabdin Karrar ◽  
Azizah Abdul Rahman
Keyword(s):  
Financial Services ◽  
Service Providers ◽  
Multiple Perspectives ◽  
Mobile Money ◽  
It Service ◽  
International Remittances ◽  
Financial Exclusion ◽  
Value Propositions ◽  
Regulatory Bodies

Recently, the developing countries are considering the development of mobile money ecosystems that supports more inclusive financial systems to overcome the high financial exclusion of their population. Such ecosystems can be enabled by facilitating the collaboration between diverse stakeholders from different sectors: financial, telecommunication, regulatory bodies and IT service providers. This development of mobile money ecosystem emphasized on considering existing issues of main stakeholders’ and their conflicting interests. The aim of this paper is to discuss set of recommendations that can help in resolving national issues when participating in collaborative mobile money ecosystem. The research used the Sudanese national mobile money project as case study. The data collection method was qualitative interpretive interviews with different stakeholders in different sectors in Sudan. The researchers analyzed the collected data using qualitative data analysis approach. The results of the analysis focus on representing the multiple perspectives of stakeholders on each identified government’s issue. The research identified six national issues and the interrelation between these issues. The identified issues are: non utilized huge deposits, accountability of big transactions amount, strict customer registration procedures, unsatisfying batch processing, responsibility of customer management and monitoring international remittances. These findings contribute toward better understanding to the mobile money ecosystem in Sudan from government’s perspective. This understanding can facilitate building successful value propositions between mobile money stakeholders which can results in better financial services. 

Mobile Money - A Catalyst for Financial Inclusion in Developing Economies: A Case Study of Zimbabwe using FinScope Survey Data

GIS Business ◽  
2016 ◽  
Vol 12 (4) ◽  
pp. 45-56
Author(s):  
Kingstone Mutsonziwa ◽  
Obert K. Maposa
Keyword(s):  
Rural Communities ◽  
Developing Economies ◽  
Adult Population ◽  
Financial System ◽  
Financial Inclusion ◽  
Viable Option ◽  
Mobile Money ◽  
Bank Branches ◽  
Financial Transactions

Mobile money in Zimbabwe has extensively extended the frontiers of financial inclusion to reach millions who were earlier excluded within a relatively short space of time. The growing use of mobile phones in transferring money and making payments has significantly altered the countrys financial inclusion landscape as millions who had been hitherto excluded can now perform financial transactions in a relatively cheap, reliable and secure way. The FinScope results found out that 45% of the adult population use mobile money services. Of those using mobile money, 65% mentioned that is convenient, while 36% mentioned that it is cheap. Mobile money is accessible. These drivers are in the backdrop of few or no bank branches in rural communities as well as time and cost of accessing the bank branches. In Zimbabwe, mobile money is mostly used as a vehicle for remittances. While some people are enjoying mobile money services, it is important to mention that there are still people who are excluded from the formal financial system. The reasons why people do not use mobile money are mainly related to poverty issues. Mobile money remains a viable option to push the landscape of financial inclusion in Zimbabwe and other emerging markets where the formal financial system might not be strong.

scholarly journals The value of in-person banking: evidence from U.S. small businesses

2021 ◽  
Author(s):  
Song Zhang ◽  
Liang Han ◽  
Konstantinos Kallias ◽  
Antonios Kallias
Keyword(s):  
Interest Rates ◽  
Interpersonal Communication ◽  
Rural Areas ◽  
Financial Services ◽  
Small Businesses ◽  
Business Owners ◽  
Soft Information ◽  
Face To Face ◽  
Treatment Effect Models ◽  
The U.S

AbstractWe produce the first systematic study of the determinants and implications of in-person banking. Using survey data from the U.S., we show that firms which are informationally opaque or operate in rural areas are liable to contact their primary bank in-person. This tendency extends to older, less educated, and female business owners. We find that a relationship based on face-to-face communication, on average, lasts 17.88 months longer, spans a wider range of financial services, and is more likely to be exclusive. The associated loans mature 3.37 months later and bear interest rates which are 11 basis points lower. For good quality firms, in-person communication also relates to less discouraged borrowing. These results are robust to multiple approaches for endogeneity, including recursive bivariate probits, treatment effect models, and instrumental variables regressions. Overall, our findings offer empirical grounding to soft information theory and a note of caution to banks against suppressing channels of interpersonal communication.

scholarly journals Exploring the Role of Islamic Fintech in Combating the Aftershocks of COVID-19: The Pen Social Innovation of the Islamic Financial System

2021 ◽  
Vol 7 (2) ◽  
pp. 136
Author(s):  
Mustafa Raza Rabbani ◽  
Abu Bashar ◽  
Nishad Nawaz ◽  
Sitara Karim ◽  
Mahmood Asad Mohd. Ali ◽  
...  
Keyword(s):  
Financial Services ◽  
Open Innovation ◽  
Financial Stability ◽  
Social Innovation ◽  
Global Financial Crisis ◽  
Financial System ◽  
Real Economy ◽  
Business Context ◽  
The World

The purpose of the current study is to investigate the role of the Islamic financial system in recovery post-COVID-19 and the way Fintech can be utilized to combat the economic reverberations created by COVID-19. The global financial crisis of 2008 has established the credentials of the Islamic financial system as a sustainable financial system which can save the long run interests of the average citizens around the world while adding value to the real economy. The basic ethical tenets available in the Islamic financial system make it more suited and readymade to fight the economic aftershocks of a pandemic like COVID-19. The basic principles of ethical Islamic finance have solid connections to financial stability and corporate social responsibility within the wide-reaching business context. With the emergence of Financial technology (Fintech) it has provided a missing impetus to the Islamic financial system to compete on equal ground with its conventional counterpart and prove its mettle. The study uses discourse analysis along with the content analysis to extract content and draw a conclusion. The findings of the study indicate that COVID-19 pandemic has provided the opportunity for the social and open innovation to grow and finance world have turned to open innovation to provide a speedy, timely, reliable, and sustainable solution to the world. The findings of the study provide significant implications for governments and policy makers in efficient application of Fintech and innovative Islamic financial services to fight the economic consequences of the COVID-19 pandemic.

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