Tag Archives: payments and banking

Liquidity Is King: Mobile Savings Vehicles For Poor Individuals

This is the final post of this three-part blog series co-authored by Lisa Kienzle, Ali Ndiwalana,Olga Morawczynski and Ignacio Mas on saving with mobile money using deferred payments or “Me2Me” transactions. Thefirst postexplored user reactions to deferred payments and to goal-based accounts, gathered through focus groups. Thesecond postlooked at rewards that help individuals set aside money to meet financial goals. Today, the authors discuss ways to encourage individuals to keep money in their savings vehicle(s). During the focus groups in Fort Portal, in western Uganda, people quickly grasped the notion of deferred payments as a means of saving

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Cash In, Cash Out Kenya: The Role of M-PESA In The Lives Of Low-Income…

Author: Stuart, Guy, Monique Cohen Publication Type: Report/White paper Publication Date: Sep 2011 Publisher/Journal: The IRIS Center at the University of Maryland, College Park and Microfinance Opportunities Publication language: English Abstract: This study examines how low-income Kenyans use M-PESA, that country’s pioneering mMoney service. The study focuses on (1) the value of M-PESA to low-income individuals; (2) the most likely areas for M-PESA’s future growth; and (3) whether M-PESA can serve as a platform for financial services beyond remittances.Taken from the transactions of 92 individuals over eight months, the study found that “cash is king.” mMoney’s share of transactions was less than 6 percent, compared to more that 94 percent for cash. M-PESA is still primarily used to send money home, usually from urban to rural, and cash out almost always happens quickly, often the same day the remittance is received. Respondents did not appear to use M-PESA as a de facto savings account, but the services was an important part of their coping strategies for unusual large expenses, particularly hospital bills.The study looks at ways M-PESA usage mimic cash usage patterns. It also examines the “e-money loop” – the number of times an e-money unit is transferred between being cashed out.

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Mobile Money Savings Systems: What Do Users Think?

Editor’s note: This post is co-authored by Lisa Kienzle, OlgaMorawczynski and Ali Ndiwalana of Grameen Foundation and Ignacio Mas.Mobile money can provide a safe and affordable means of offering the poor in developing countries access to formal savings products and services. In this post, the authorsintroduce and user-test one concept of savings: deferred payments over mobile money. Grameen Foundation’s AppLab Money believes that mobile money is essentially a liquidity-management platform. Put differently, it could be described asLiFi: Conncting people to an electronic payment system via their mobile phones that providesLiquidity withFidelity. What does it take to turn mobile money systems into a full-fledged savings platform?

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March Madness! Mobile Events for the Month

Ready for some mobile tech and social change events? This month has a little something for everyone – whether you’re looking for a developing-focused convention, a discussion about open source solutions, or a women-oriented mobile tech night, March events have what you want. Read on for upcoming events:Mobile Monday is an loosely organized, international community based around interest in mobile technology. Chapters hold get-togethers to discuss a variety of topics; here is a sampling of some of this month’s events:5 March (Dar-es-Salaam, Tanzania) This is a women-only event based around the theme “Social Media and What it Can Do for You.” There will be female bloggers, entrepreneurs, and students discussing how social media technology can be used for professional and personal uses.19 March (Sydney, Australia) If you’re interested in monetizing your mobile work, check out this presentation from the Google Australia group.19 March (Washington, D.C., USA) This Mobile Monday event will focus on mobile opportunities in education.7-8 March, AITEC Banking and Mobile Money COMESA 2012 (Nairobi, Kenya) This is the 6th year of this mobile banking event, and this year the discussions will focus on regional banking, regulation and innovation, micro-finance, and Sharia-compliant banking.9-13 March, South by Southwest: Interactive (Austin, USA) The South by Southwest Interactive conference brings together people who are passionate about new media technology.

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Southern Innovator Magazine, Issue 1: Mobile Phones and Information…

Author: Gitta, Cosmas; Editor Publication Type: Magazine or newspaper article Publication Date: May 2011 Publisher/Journal: UNDP Publication language: English Abstract: These success stories culled from across South America, Asia, Africa and the Middle East profile entrepreneurs, public private partnerships and civil society efforts to meet the challenges of life in the modern world from the perspective of the developing world. This first issue of Southern Innovator showcases the transformative role that mobile phones and information technology have played in the developing world over the past decade.In searching out these stories of development progress that span the globe, we have seen instances where home-grown ingenuity and technologies to solve every-day problems offer real solutions, as in the case of Maker Faire Africa. We are also looking for those stories that have far-reaching applicability, as in the case of Ushahidi—a crisis-mapping technology developed in Kenya that has gone global. These snapshots of Southern triumphs also show a generation concerned about meeting the Millennium Development Goals and it is our hope that they spur others to action.

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Does Mobile Money Matter? A Rebuttal to the Mobile Disconnect

More here: Does Mobile Money Matter? A Rebuttal to the Mobile Disconnect

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Check out our Newest Case Study on Boom: Mobile Banking in the Americas

We’ve written and shared much on mobile banking , including case studies on M-PESA , research on branchless banking , and issues of security in mobile banking. Success in mobile banking servicces have varied with some highly successful, and others less so. We also observed that services are highly dependent on many factors, including: reach, reliability, user retention, ease of use, approach with agents or operators, number of customers, geography, mobile infrastructure and landscape, technology used, language, cost, and regulatory issues.

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Cheaper and Easier Remittances in the Americas? Boom Mobile Banking

When it comes to mobile money, the hype is on these days. There are more and more mobile money services in an increasing number of countries. Success is highly dependent on many factors, including: reach, reliability, user retention, ease of use, the availability of agents, number of customers, geography, mobile infrastructure and landscape, technology used, language, cost, and banking and telco regulations.

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February Events Round Up: Stay in the Loop!

February may be the shortest month, but there’s no shortage of upcoming mobile events. Read on to find out what’s happening this month in the mobile world, and please add in your own events in the comments! 7-9 February, BlackBerry DevCon Europe (Amsterdam, Netherlands) If you’re curious about what’s involved in developing for the BlackBerry market, check out the BlackBerry DevCon.

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Real-Time Charitable Giving

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International Finance Corporation Mobile Money Study 2011, Summary Report

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It’s not yet mPesa: mKesh, Mobile Money in Mozambique Is Slow To Take Off

Editor’s Note: This guest post is by

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The Mobile Financial Services Development Report 2011

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Zap It To Me: The Short-Term Impacts of Mobile Cash Transfer Program

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