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Mobile banking

This category contains 8 posts

Mobile wallet payment system

Mobile Wallet Gaining Currency. Nowadays, when Edward McLaughlin is paying for aspirin at the Walgreens drug stores in New York, he just has to tap his Nexus S mobile phone on a terminal device. He not only avoids having to fumble through his wallet and hold up the line, but the tapping also automatically adds [...]

Mobile banking in the emerging world

In Tanzania, a hospital sends money by text message to women in remote areas so they can pay for bus fare to travel for critically needed surgery. In Afghanistan, the government pays its police officers by text message to skirt corrupt middlemen. In Pakistan, the biggest financial network is not a bank, but a unit [...]

“Ecosystem” is a big buzzword in mobile banking

“Ecosystem” seems to be a big buzzword in the mobile money space. Many mobile network operators (MNOs) are extending their focus beyond what they consider to be the killer applications – storing and transferring money and cultivating strategies to offer financial services at scale. The cornerstones of a viable network are trust and ubiquity, but [...]

M-PESA in Tanzania: A second round success?

There’s been a lot of talk recently comparing M-PESA in Kenya with that in neighboring Tanzania. I shared some of my initial impressions a few months ago after visiting both countries. While on the surface the countries appear to be similar, there are some important differences in geography, culture and market structure that have impacted [...]

Converting cash into electronic money

Merchants in the Philippines are finding they have the capacity and the interest to offer financial services to consumers as a new line of business. However, in order for these new ventures to succeed, a network of providers will need to be selected, and issues such as cash management, investment levels, large loan disbursement capability, [...]

Branchless banking

Ten years ago, there was no active mobile banking (m-banking). The Brazilian Central Bank was promulgating the first set of regulations that would allow bank correspondents to open banking agents. Microfinance had caught the eye of some beyond its circle of enthusiasts and practitioners, but financial access was considered a niche, and not a mainstream [...]

How do poor people use mobile financial services?

Despite growing agreement on the potential of technology to expand access to finance, or branchless banking, there is surprisingly little data publicly available about low-income users. A new CGAP Brief by Olga Morawczynski and Mark Pickens draws on some of the first ethnographic research on  M-PESA, one of the earliest success stories in mobile phone-based [...]

How can you deposit cheques by phone?

The Internet and mobile banking have taken a lot of the paperwork out of banking, but there is no avoiding paper when someone gives you a check. Now one bank wants to let customers deposit checks immediately — through their phones. USAA, a privately held bank and insurance company, plans to update its iPhone application [...]

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