Today the MMU team is releasing a paper that for the first time explores mobile money platforms and builds on lessons learned globally around the correct choice of a technology partner. Almost 50% of mobile money sprinters from the 2012 Mobile Money Adoption Survey are migrating or planning to migrate their platform and there is a new round of RFPs issued from many other mobile money providers around the world. The paper was written after extensive research with help from both mobile money providers and vendors and its aim is to provide useful guidelines for mobile money services that are planning to set out on the process of looking for a (new) technology partner.
To begin with the paper describes how mobile money is a unique service for MNOs and very different to most other products or services they have launched in the past. This is true from both a technology and service execution standpoint. As the industry grows and matures this realisation becomes clearer and the case is made for MNOs to really move into the role of service provider, establishing an ecosystem that can truly function as a financial service hub.
Following that, the various technical and functional elements that make up a mobile money platform are presented and consideration is given to the future scalability of the platform and the service. The paper concludes with an exploration of how MNOs can evaluate an RFP response in order to make the best choice for a mobile money platform provider.
Mobile money platforms will be discussed further at the MMU Global Event in Nairobi on July 9th. The panel entitled Mobile Money Tech: Platform stability, functionality & scalability will be moderated by Susie Lonie (the co-author of this paper with MMU) and will feature both MNOs and vendors.
Download the full report, Platforms for Successful Mobile Money Services, and keep an eye on this blog as the MMU will continue to focus on this area.