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New Delhi, India, 14 March 2013
Innovations in Mobile Money
Vijay Mauree,Programme Coordinator, ITU
ITU Workshop on “ICT Innovations in Emerging Countries”
(New Delhi, India, 14 March 2013)
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Overview of Presentation
ICT Innovations RepositoryMobile Money Financial ServicesTypes of Mobile Financial ServicesMobile Proximity PaymentsMobile Payments : Financial InclusionStandardization
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ICT Innovations Repository
The Innovations Repository contains non-exhaustive information about activities on ICT innovations in emerging economies globally.212 ICT InnovationsRepository hyperlink:
• http://www.itu.int/en/ITU-T/focusgroups/innovation/Documents/repository-innovation-v2-may2012.docx
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Various Sectors in which ICT Innovations are being implemented
e-Health e-Educatione-Bankinge-Agriculture Mobile Payment / Mobile Financial Servicese-Environmente-Commerce/Tradee-Governancee-Journalism Rural Mobile ConnectivityProviding electricity in Remote areas e-Transport
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Mobile Money Technology Watch Report
Analysis published under Technology Watch Report on Mobile MoneyReport is in two parts
NFC Mobile PaymentsEnabler for financial inclusion
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Mobile Financial Services
No universal definition for the term mobile money
Mobile money refers to financial transactions and services that can be carried out using a mobile device such as a mobile phone or tablet. These financial transactions and services are sometimes referred to as mobile financial services and may or may not be linked directly to a bank account
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Mobile Financial Services
Lack of global standardsInteroperability Regulatory issues
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Types of Mobile Financial Services
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Mobile Payments (P2P, B2C/C2B)Proximity Mobile PaymentsRemote Payments
Mobile Money Transfer (P2P)DomesticInternational
Mobile Banking
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Spectrum of Mobile Payments
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Mobile Proximity PaymentsMobile Wallets
Google WalletISIS WalletMastercardVisa
Mobile Phone as a PoSSquareVerifone
Cloud YesPay, Mobito
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Mobile Wallets
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Mobile Payments : Financial Inclusion
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Mobile Money : Financial Inclusion
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Applications of Mobile Money in Emerging Economies
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Mobile Money Transfer
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Technologies usedUSSDSecure STKWAPApplication
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Mobile Money Transfer
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Mobile Payments : Ecosystem
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Bank CentricMNO CentricPartnership
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Standardization
ITUISOGlobal PlatformNFC ForumGSMASmart Card Alliance
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Standardization
Areas to considerSecurity of transactionsMobile Payment architecture
Proximity NFC paymentsCloud based payment
Interoperability for smartphone applicationsMobile Money Focus Group
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Thank You
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