WING Mobile Payments : A Product Design Case Study
Economists have long known that financial services have benefits for users by allowing them to smooth consumption, save for bulky purchases, etc. But the recognition of their importance even for people with relatively low incomes those earning one to two dollars a day, for instance is relatively recent. This recognition has been spurred by a better understanding of the financial lives of the poor, and of the critical role played by uncertainty and volatility. The objective of this case study is to describe the design and implementation of WING, a Cambodian mobile-phone-based payment system. The product has been successful in providing access to formal banking to the previously unbanked in Cambodia. The following sections present the problem of financial exclusion, how WING meets this problem by providing a mobile banking network, the unique aspects of WING s design compared to other products, challenges in achieving technology adoption and other constraints faced by the product, and how WING has responded to these challenges throughout implementation. Finally, the case study presents lessons learned and behavioral applications for future products.