Data protection in mobile money

Thursday 28 Mar 2019 | Digital Inclusion | Ecosystem payments | English | Financial services products | Global | Mobile Money | Policy and regulation | Report | Resource |

Data protection in mobile money image

This paper delves into some of the key areas of data protection affecting mobile money services. These include:

  • Data processing, which is concerned with the lawful bases for processing of personal data;
  • Data security, which looks at the physical and logical security of the data;
  • Data localisation, which considers the limitations of cross-border data transfer; and
  • Data sharing, which takes into consideration the sharing of data between industry players and how this interplays with the need for privacy and data protection frameworks.

While recognising the multifaceted nature of data protection, this paper serves as an introductory piece on these specific issues. It highlights some of the potential implications of new requirements, and opens the conversation to mobile money providers as well as policy makers and regulators, so that these actors can subsequently develop frameworks that will protect the consumer, while boosting the development of the digital economy.

Accompanying blog

Data protection in mobile money

Today, we’re pleased to release insights into the key areas of data protection impacting the provision of mobile money services. As the value of data continues to grow, so does the need to safeguard the use of data for the protection of the consumer, to the benefit of the ...