Mobile money recommendations to central banks in response to COVID-19
The COVID-19 pandemic has brought about unprecedented challenges for the global economy. It has affected global health systems, affected peoples’ livelihoods and will leave long-lasting economic effects. Many countries have adopted partial or total ‘lockdowns’, restricting movement in a bid to “flatten the curve” and to limit the spread of the virus. In order to shield the most vulnerable user segments, governments and a number of mobile money providers and their regulators have responded with measures outlined in this document.
How can regulators ensure that these measures do not impair the long-term sustainability of mobile money business?
This document examines the impacts of COVID-19 on mobile money business and provides broad recommendations that could be taken to ensure business continuity and sustainability.