Moving from Mobile Money to Digital Financial Services

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

Moving from Mobile Money to Digital Financial Services

for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

Who are the are the Movers, Shakers & Supporters?

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

http://www.mobileworldlive.com/mobile-money-tracker

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

Countries with more mobile money agents than bank branches

GSMA Mobile Money for the Unbanked

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

Countries with More Mobile Money Accounts Than Bank

Accounts

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

Countries where Mobile Money Transactions are Significant

% Equivalen

t to Country

GDP 60 % in

Kenya 30% in

Tanzania

20% in Uganda

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

Third-Party Players

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

Shift to Broader Digital Financial Services: Gates Foundation

Rationale for the Better Than Cash Alliance

An alliance of Governments, Private Sector, and Development Organizations to create a global movement from cash to electronic payments;

Billions of dollars in cash payments are made every day in emerging and developing economies for salaries, to

suppliers, for pensions and social welfare, relief etc.With appropriate digitization of these payments both

payee and payer can have great benefits...

Digital money can bring five main social benefits

Cost Savings: decrease costs of cash or in-kind payments.

Transparency: increase accountability and tracking, reducing corruption and theft.

Security: typically safer and faster delivery.

Financial Inclusion: can accelerate access to financial services.

New Market Access: open doors for new business models for previously excluded people.

Partnerships Are Key

BusinessesThird-Parties Clients

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

Digital Financial Services for Financial Inclusion: Key Steps in the Road Map

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

Donors & the Benefits of the Collaboration Digital Financial Service Provider• Technical assistance and R&D• Work with regulators• Pilot testing of new servicesDonor Agencies• Leveraging of resources• Technical platformProject Implementation Partners• Greater Efficiency• Lower Costs• Improved Outreach

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

G2P Disbursements via Digital Financial Service Platforms

Mobile Banking andMobile money

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

The Shift from Mobile Money Alone to Integration with Broader Digital Financial

Services

Businesses: Leveraging Digital Financial Services

MTN Ghana, UT Life & MicroEnsure

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

Bank or Mobile Money Agents

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

Building TRUST in Digital Financial Services is Key!

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

Convenience & Access are Key!

Moving from Mobile Money to Digital Financial Services for Financial Inclusion

CHEMONICS TECHNICAL PRACTICES | FINANCIAL SERVICES

Thank YouTwitter:

@jvowens

Blog:www.mobilemoneyfordevelopment.wordpress.com

www.chemonics.com