2015年-世界发展银行全球_WING_Mobile_Payments___A_Product_Design_Case_Study_13页_1mb

报告摘要

WING Mobile Payments Case Study Summary

Core Content

The WING Mobile Payments case study is a product design initiative by IFC in Cambodia aimed at improving access to formal financial services for the underserved population. It demonstrates how mobile technology can be leveraged to overcome financial exclusion, particularly in rural and low-income areas.

Main Objectives

To bridge the gap between product design/innovation and financial inclusion.
To increase awareness of product design and its impact on financial inclusion.
To generate knowledge and publicity around successful financial product innovations.

Key Information

WING is a mobile-based money transfer service launched in January 2009.
It targets the unbanked population in Cambodia, particularly migrant workers in the textile industry and students.
WING offers cash-in, cash-out, bill payment, and person-to-person money transfers.
It is operator-agnostic, working on most mobile networks in Cambodia, and is available to non-customers.
The service is designed to be simple, safe, and affordable.

Main Viewpoints

Financial Exclusion in Cambodia

Cambodia has a low banking penetration rate (96 accounts per 1000 adults).
Many people, especially in rural areas, lack access to formal financial services.
The poor often resort to informal methods for money transfers and savings, which are costly and risky.

The Innovation: Mobile Banking

WING was launched to provide a cheaper and safer alternative to traditional money transfer methods.
It was inspired by the success of M-PESA in Kenya, which demonstrated the potential of mobile banking in financial inclusion.
WING's design includes features such as no cash-in fee, a three-tier pricing structure, and the ability to send money to non-customers.

Behavioral Barriers

Status quo bias: People are resistant to changing their established methods of transferring money.
Lack of trust: Customers may not trust mobile banking, especially if they have no prior experience with mobile phones.
Low mobile phone penetration: Only 20% of Cambodians owned a mobile phone at the time of launch, making it a significant challenge.

Design Features

Operator-agnostic design: Allows WING to operate across multiple mobile networks, increasing accessibility.
Availability to non-customers: Enables people without WING accounts to receive money via a passcode.
Affordable pricing: On average, WING is 19% cheaper than traditional banking for similar services.

Challenges and Solutions

Distribution Network

WING partnered with VisionFund, a microfinance institution, to build a nationwide distribution network.
It also expanded to include retail agents such as airtime resellers, foreign exchange offices, and grocery stores.
This network helps reach remote areas and provides a trusted point of contact for users.

Customer Outreach

WING used television and radio to market its services, emphasizing convenience and safety.
It employed WING Pilots, young salespeople, to educate and promote the service.
These pilots often come from the same communities as their customers, enhancing trust and adoption.

Changes During Implementation

WING initially focused on migrant workers but later expanded to include other groups.
It increased the number of agents from 130 to 700 within a year.
It introduced airtime top-up as a marketing tool to familiarize users with mobile money.
In 2010, WING received permission to use US dollars, which helped it compete with informal money changers.

Results

WING has grown to serve 260,000 customers.
Most of its users were previously unbanked, with 60% making less than $3 a day.
It has significantly reduced the cost of money transfers, with customers saving over 50% compared to informal methods.
WING is used primarily for small money transfers and airtime top-ups, which have become a popular alternative to scratch cards.

Comparison to Other Systems

WING is cheaper than most other mobile banking systems in Cambodia and globally.
It is more effective in reaching unbanked households compared to M-PESA, which serves only about 35% of unbanked users.
Its cost per month is $2.80 in PPP terms, below the cross-country average of $3.90.

Lessons Learned

For Design

Operator-agnostic design is crucial in countries with high mobile network competition.
Allowing non-customers to access the system helps overcome technological barriers.
Profitability through scale is achievable in mobile banking with proper implementation.

For Product Innovation

Cheaper service alone is not enough to overcome behavioral resistance.
Airtime top-up can serve as a bridge to trust and adoption.
Using existing distribution channels (e.g., microfinance institutions) can help build a trusted network.

Future Improvements

WING aims to expand its services to include loan disbursement and repayment through existing MFI channels.
It could use nominal transfers to demonstrate reliability and build trust.
Airtime discounts could be used as a marketing tool to attract new users and increase familiarity with mobile money.

References

Banerjee, Abhijit and Esther Duflo, 2011. Poor Economics, Public Affairs.
CGAP 2010. "Financial Access 2010: The State of Financial Inclusion Through the Crisis".
Jack, William and Tavneet Suri, 2011. The Economics of M-PESA, NBER Working Paper No. 16721.
Kahneman, Daniel, Jack Knetsch, and Richard Thaler, 1991. Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias.
Vada, Kim, National Bank of Cambodia. "Financial Inclusion for Development", Presentation at FinNet Conference 2010.

Conclusion

WING Mobile Payments has successfully increased access to formal financial services in Cambodia by addressing behavioral and infrastructural challenges. Its design and implementation strategies offer valuable insights for future financial product innovations aimed at underserved populations.

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