2006年-世界发展银行全球_Mobile_Phones_for_Microfinance_2页_249kb

Mobile Phones for Microfinance: A Summary

Core Content

Mobile phones are increasingly being utilized in the financial services sector to serve low-income populations, offering three primary applications: micropayments (m-commerce), electronic money (e-money), and as a banking channel. These applications aim to provide financial access and services to those who may not have traditional banking options.

Main Uses of Mobile Phones in Financial Services

1. Micropayments (M-Commerce)

• Mobile phones are integrated with credit cards or bank accounts to facilitate small payments.
• Commonly used for transportation and vending machine transactions.
• Customers use their phones as a replacement for debit or credit cards they already possess.

2. Electronic Money (E-Money)

• In the Philippines, Globe Telecom allows customers to load cash (or G-Cash) onto their mobile phones.
• This virtual money can be stored, withdrawn, transferred, or used for purchases.
• Similar services exist in Kenya via Safaricom's M-Pesa.
• Poor customers can use these platforms to repay loans or make deposits with microfinance institutions.

3. Banking Channel

• Mobile phones serve as the primary access point for bank accounts in some regions.
• WIZZIT and MTN Banking in South Africa offer this service.
• These platforms are partnered with traditional banks (e.g., Standard Bank, Bank of Athens).
• Users can load cash into their accounts through branches, ATMs, or direct salary deposits and use their phones for airtime purchases, payments, transfers, and balance checks.

Who Offers Mobile Phone Banking Services?

• Banks and mobile network operators (MNOs), such as MTN, are both involved in providing mobile banking services.
• Banks aim to reach unbanked populations at lower costs than traditional branches.
• MNOs see mobile banking as a revenue-generating opportunity and a way to reduce customer churn.

Reasons for Excitement

• High mobile phone penetration: Many poor people already own mobile phones, and the number is increasing rapidly.
• Familiarity with mobile technology: Poor customers are already using phones for communication, making them more likely to adopt banking services with minimal training.
• Always-on connectivity: Mobile phones are generally always connected, allowing banks to process transactions instantly and provide real-time account updates.
• Existing infrastructure: Mobile operators have established retail networks and prepaid systems, which can be leveraged for financial services.
• Prepaid users' habits: Many poor individuals are accustomed to using cash for airtime, which can be adapted for financial transactions.

Reasons for Caution

• Lack of interoperability: It is not yet possible to transfer money between mobile phones across different platforms at low cost.
• Security concerns: Mobile banking lacks standardized security protocols, making it vulnerable to fraud.
• Profitability issues: For banks, a mobile-only channel has not yet proven to be profitable due to limited product offerings.
• Accessibility limitations: Mobile banking may not reach the most remote or impoverished areas where cash transactions are still necessary.
• Usability challenges: The interface and process may be difficult for illiterate or older users, requiring additional training.
• Unclear regulations: There is no clear regulatory framework for mobile banking, particularly regarding customer protection, e-money issuance, and know your customer (KYC) requirements.

Conclusion

CGAP, in collaboration with the Vodafone Group Foundation and the UN Foundation, is conducting research in the Philippines and South Africa to understand the factors influencing poor people's adoption or rejection of mobile banking services. This research is crucial for guiding banks, microfinance institutions, mobile operators, regulators, and donors in expanding mobile banking to serve large numbers of low-income individuals.

References

• International Telecommunications Union. 2005. "African Telecommunication Indicators, 2004." Geneva.
• Authors: Gautam Ivatury and Mark Pickens

For more information on technology and microfinance, consider the following resources:

• Contact CGAP Specialist Gautam Ivatury at givatury@worldbank.org.
• Visit www.cgap.org for materials including:
  • "Using Technology to Build Inclusive Financial Systems," by Gautam Ivatury. Focus Note 32, January 2006.
  • "Using Technology to Build Inclusive Financial Systems." CGAP Brief, May 2006.