GSMA has been promoting the development of a safe and responsible industry for digital financial services through the Code of Conduct for Mobile Money Providers since it was launched in 2014. The Code of Conduct identifies eight principles aimed at promoting mobile money providers’ adoption of consistent risk mitigation practices in certain critical areas of their business such as soundness of services, security of the mobile network and channel, and fair treatment of customers.

More than half of all 134 million active mobile money accounts in 2015 are issued by mobile money providers who have endorsed the Code of Conduct. Endorsing and implementing the Code of Conduct is critical for MNO-led mobile money providers to maintain industry leadership and credibility, particularly by:

• Giving other stakeholders in the public and private sector the confidence to collaborate with and connect to mobile money providers
• Assuring customers that they will be treated fairly and that their funds are safe
• Building trust with regulators and policymakers, which will foster the development of a competitive and level playing field for mobile money services
• Harmonising business and risk mitigation practices, thereby facilitating the implementation of interoperability and cross-border remittances partnerships

The GSMA has worked closely with its members and various technical experts over the past year to identify key practices for operationalising the principles of the Code. The GSMA has developed a set of toolkits that MNO-led mobile money providers can use to assess their compliance against these practices for each of the Code’s eight Principles.

Toolkits available now

We are happy to announce that these self-assessment toolkits are now available to be implemented. Mobile money providers who would like to implement the self-assessment toolkits are encouraged to email us to begin the process.