DIGITAL FINANCIAL SERVICES
Global framework to speed up spread of mobile money
The imminent release of a global framework on digital financial services is expected to accelerate the adoption of mobile money transfer and payments in emerging markets. The International Telecommunications Union focus group on digital financial services was established two years ago to find ways to help local policy makers improve financial inclusion. It will hold its final meeting in December to share its findings after consultation with more than 60 public and private organisations, including banks, mobile network operators and policy makers from more than 30 countries. The recommendations are expected to be released in January. With 2-billion people still unbanked globally, mobile devices present one of the most affordable and simple ways to broaden financial inclusion. Although mobile money penetration rates are still low, there are a number of successful services run by mobile network operators. The poster child is Kenya’s M-Pesa platform, which is now being adopted on other ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.