Mobile Payments Africa
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Accueil > Nouvelles The mobile payment industry will change the way consumers interact with financial services and make payments. Mobile financial services will include consumer accounts information, updates, alerts, bill payments, person to person transactions and remittances. The mobile will play a key part in the foundation of sustainable development in Nigeria. In a country where electricity and transportation are unreliable, the mobile phone is a driving force for change – and not just for voice calls. Mobile phones can address one of the biggest cost barriers in the value chain.
Mobile Payment : Potential and reality for Nigeria
IFC evaluates investment in Nigeria’s mobile money market « Mobile Money Africa
The International Finance Corporation may invest in the Nigerian mobile money industry if it is satisfied with the result of the due diligence it is currently carrying out on the industry. Our correspondent gathered that the IFC was keen to play a major role in the country’s emerging mobile money ecosystem and was currently evaluating opportunities available therein. Areas currently being evaluated by the IFC include technology acquisition, e-Float management and agency network, according to investigation. The Principal Associate, Mobile Money Africa, Mr. Emmanuel Okoegwale, who spoke with our correspondent about the development, said a number of international development organisations had also expressed interest in the country’s fledgling mobile money landscape.
Mobile Money also known as mobile banking or mobile payment (m-payment) is the transfer of monetary value from one person to the other via mobile phones. Already, the success so far recorded in the telecommunications sector, where mobile telephony services are available to several millions of Nigerians, has brought m-payment into the front-burner of discussions towards accelerating measures to deliver Nigera’s own version of m-payment. Recent Pyramid Research report has projected that the global mobile money industry would generate over $200bn by 2015 with a submission that the expected growth will ride on subscribers’ growing trust in the system in respective countries. According to experts, with over 89 million mobile subscribers in the country, Nigeria is key to the new mobile money growth in Africa after the success it recorded in Kenya with the Mpesa scheme. The essence of mobile money is to bring banking services to the unbanked in Nigeria.
Mobile payment gathers momentum in Nigeria « Mobile Money Africa
With the success of M-PESA in Kenya, Tanzania, South Africa, mobile payments have become an alternative to retail banking and other banking transactions in Africa. Infact, M-PESA attracted 9.4 million Kenyan users in just under three years and has recently partnered with Kenya’s Equity Bank to offer subscribers a savings account, called M-Kesho. Interestingly, Nigeria’s mobile payment space is heating up with several licences granted to operators by the Central Bank of Nigeria (CBN). Here are 7 mobile payment solutions for Nigeria to watch in 2011.
TechLoy ≡ 7 Nigerian Mobile Payment Solutions To Watch in 2011
Capturing the promise of mobile banking in emerging markets - McKinsey Quarterly - Telecommunications - Strategy & Analysis
Financial services for the unbanked are among the most promising opportunities for mobile-telecom operators hoping to counter slowing subscription growth with auxiliary offerings, such as banking, health care, and education services. In emerging markets, formal banking reaches about 37 percent of the population, compared with a 50 percent penetration rate for mobile phones. For every 10,000 people, these countries have one bank branch and one ATM—but 5,100 mobile phones. A new focus on bringing financial services to the unbanked—those without easy access to traditional banking channels—represents a strategic shift for mobile operators. The very small deposits and loans held by poorer customers make them unprofitable for banks that use traditional delivery models.
2011 the year of Mobile Money in Nigeria
Mobile money has been a major game changer in African economies. In 2010 M-PESA for example continued to make major headlines and win awards for it’s success in it’s wide acceptance and usage in Kenya. Mobile money has been hailed as the best tool to bring financial inclusion to the many unbanked in Africa and other developing regions.