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Demystifying regulatory concerns around the use of cloud services in mobile money

Globally, players in the financial services industry are now adapting their business models to embrace the cloud, and leverage new solutions provided by financial technology providers (fintechs) in order to improve their services and lower their investment costs.

Addressing the financial needs of women: Ensuring data protection in the use of gender disaggregated data

The theme of the 2019 AFI Global Policy Forum was Using technology for inclusion of women and youth. The forum, hosted by the National Bank of Rwanda and Alliance for Financial Inclusion (AFI), organised a break-out session on Addressing the financial needs of women in the ...

GSMA-led industry collaboration launches updated harmonised API Specification for mobile money

We are proud to release a new version 1.1 of the Mobile Money API Specification, advancing the mobile money industry towards the use of harmonised APIs that are easy and secure. Since its inception in 2016, the Mobile Money API has already been adopted by a range of ...

A fresh look at the Mobile Money Regulatory Index

We are pleased to announce that the Mobile Money Regulatory Index has been refreshed covering 90 countries with data current up to 2019.

Mobile money APIs – Towards seamless integrations

Mobile money continues to grow exponentially across developing markets. As of December 2019, the industry has over one billion registered mobile money accounts and processes over $1.9 billion dollars a day. What is interesting compared to a few years ago, is the growth of ...

The GSMA Inclusive Tech Lab launches a new platform to test mobile money interoperability

Today, the GSMA Inclusive Tech Lab is releasing its Interoperability Test Platform, the first joint test environment including two key technologies, the GSMA Mobile Money API and the Bill & Melinda Gates Foundation’s Mojaloop. With this test platform, the GSMA provides ...

Interconnecting mobile money providers: why is interoperability testing so important?

Interoperability – In the world of mobile money, this has been one of the industry’s buzz words for years, as it holds the promise of an interconnected world in which people in emerging markets can send money to each other regardless of the mobile money service they are ...

A regulatory model assessment of Payments Banks in India: The story of a glass half full, yet half empty

India’s Payments Banks (PBs) regulatory model has garnered a lot of global attention, partly because of its expected potential to tackle financial exclusion. It has also served as an example for countries such as Nigeria, which has developed a similar regulatory model for ...

Scaling up agri insurance via mobile

Agricultural insurance can act as a safety net when smallholder farmers experience losses and can enable greater potential for productivity, for instance by allowing farmers to use multiple varieties of seeds. Agricultural insurance services available through mobile also ...

The value of PAYG solar for mobile operators: A look at Benin

Benin is a relatively new market for the Pay-as-you-go (PAYG) Solar home system (SHS) industry, but growth has been strong in recent years. According to GOGLA, West Africa as a whole has been a key growth market for PAYG solar providers, “In the first half of 2019, sales [of ...

Digital finance: Cybersecurity requires deeper industry collaboration

This blog was co-authored by Silvia Baur-Yazbeck, a financial sector analyst at CGAP, whose recent work focuses on data protection and cybersecurity. Mobile financial services have been a significant driver of financial inclusion over the past several years. As of 2018, the ...

Indonesia’s tech giants and unicorns catapult MSMEs into the digital economy

Merchant payments is one of the more complex use cases of mobile money. Providers need to cater to the differing needs of both customers and merchants. Arguably, digitising payments alone is unlikely to be incentivising enough for merchants. Instead, success relies on ...

Making the connection between mobile money and climate change

Climate change has rapidly become a concern for central banks, financial regulators, and ministries of finance. In September 2017, AFI member institutions formulated the Sharm El Sheikh Accord on Financial Inclusion, Climate Change and Green Finance, which sets commitments ...

Social commerce: blurring the line between social interaction and online shopping

The global spread of social media coupled with the rapid growth of e-commerce is giving rise to a new trend where content sharing, messaging and payments converge. Social commerce—the use of social interactions combined with the transactional nature of e-commerce—has led to ...

Learning by seeing and doing: How our field trip to Indonesia is stretching our thinking on all things payments

Earlier this year, we published a paper exploring the potential pathways for evolving the mobile money business model. With internet and smartphone penetration in emerging markets at an all-time high, the paper seeks to clearly articulate how mobile money providers can adapt ...

Financial Inclusion Week 2019: Unleashing the power of mobile money to achieve the Sustainable Development Goals

Each year Financial Inclusion Week convenes organisations from around the world into a global conversation exploring the progress made and the remaining challenges to building a more inclusive financial ecosystem. This year we explored the theme of “Financial Inclusion: For ...

The GSMA’s Instant Payment Notification (IPN) Hub is transitioning to the industry

The GSMA created the Instant Payment Notification (IPN) Hub as an industry utility to enable pay-as-you-go (PAYG) solar providers, and other pre-paid utility service providers (e.g. energy, water and sanitation), to integrate more easily with mobile money operators across ...

Mobile money: A product of choice for women to send and receive remittances

Earlier this year, I had the privilege to participate in an International Experts Roundtable in Rome on the topic of “Women’s financial inclusion and the role of remittances”. This roundtable marked the occasion of the United Nations International Day of Family Remittances ...

The promise of mobile money for further advancing women’s financial inclusion

The findings of this blog are based on Findex 2017 microdata released in October 2018. In this blog, we discuss the role of mobile money in driving financial inclusion, particularly for women. Mobile money has the potential to close the gender gap in account ownership Since ...

Introducing the GSMA Inclusive Tech Lab: a testing ground for transformative digital innovations

In developed and developing markets alike, societies are becoming increasingly digital, and technological innovations are emerging at an ever increasing rate. The mobile money industry is now fast evolving against a backdrop of increased internet access and smartphone ...