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.

Bibliographic Details

Main Author:	International Finance Corporation
Format:	Working Paper biblioteca
Language:	English en_US
Published:	Washington, DC 2015-03
Subjects:	ACCESS TO FINANCE, ACCESS TO FORMAL FINANCE, ADVERTISEMENTS, ADVERTISING, ADVISORY SERVICES, ATM, BANK ACCOUNT, BANK ACCOUNTS, BANK BRANCHES, BANK CUSTOMERS, BANK DEPOSITS, BANKING NETWORK, BANKING SECTOR, BANKING SERVICES, BANKING SYSTEM, BANKING SYSTEMS, BANKS, BARRIER, BENEFICIARIES, BEST PRACTICES, CELL PHONE, CELLPHONE, CELLPHONES, CHECKING ACCOUNT, CLIENT BASE, COMMERCIAL BANK, COSTS TO CUSTOMERS, CURRENCY CONVERSION, CUSTOMER BASE, CUSTOMER BEHAVIOR, DELIVERY SYSTEM, DEMAND FOR SAVINGS, DEPOSIT, DEPOSIT ACCOUNTS, DEPOSIT SERVICES, DEPOSITS, DEVELOPING COUNTRIES, DIRECT DEPOSIT, DISBURSEMENTS, DISTRIBUTION CHANNEL, DISTRIBUTION NETWORK, ECONOMIC CRISIS, ENTREPRENEURS, FAMILIES, FARMER, FINANCIAL ACCESS, FINANCIAL EXCLUSION, FINANCIAL INSTITUTIONS, FINANCIAL PRODUCT, FINANCIAL PRODUCTS, FINANCIAL SERVICES, FINANCIAL_ACCESS, FIXED COST, FOREIGN EXCHANGE, FORMAL BANKING, FORMAL BANKS, FORMAL FINANCIAL SECTOR, FORMAL FINANCIAL SERVICES, HOUSEHOLDS, INCOME, INCOME STREAMS, INCOMES, INFORMAL PROVIDERS, INNOVATION, INTERNATIONAL COMPARISONS, KNOWLEDGE SHARING, LENDER, LIQUIDITY, LOAN, LOCAL CURRENCY, MARGINAL COSTS, MARKETING, MASS MARKET, MEDIA, MERCHANTS, MFI, MFIS, MICROFINANCE, MICROFINANCE INSTITUTION, MICROFINANCE INSTITUTIONS, MIGRANT WORKERS, MOBILE BANKING, MOBILE NETWORK, MOBILE NETWORKS, MOBILE PAYMENT SYSTEM, MOBILE PAYMENT SYSTEMS, MOBILE PHONE, MOBILE PHONES, MOBILE SERVICE, MONEY TRANSFER, MONEY TRANSFERS, MOVEMENT OF FUNDS, NATIONAL BANK, NEW PRODUCTS, NEW TECHNOLOGY, ONLINE BANK, OUTREACH, PAYMENT FACILITIES, PAYMENT SYSTEM, PENETRATION RATE, PENETRATION RATES, PHONE NETWORKS, PHONE PENETRATION, POWER PARITY, PRODUCT DESIGN, PRODUCT DEVELOPMENT, PRODUCT INNOVATION, PRODUCT INNOVATIONS, PROFITABILITY, PROSPECTIVE CUSTOMER, PROVISION OF CREDIT, PURCHASING POWER, PURCHASING POWER PARITY, RADIO, RAPID GROWTH, REAL TIME, REGULATORY CONSTRAINT, REPAYMENTS, RESULT, RESULTS, RETURN, SAVINGS, SAVINGS ACCOUNT, SAVINGS ACCOUNTS, SAVINGS PRODUCTS, SERVICE PROVIDERS, SMALL BUSINESSES, TELEVISION, TRADING, TRANSACTION, TRANSACTION COSTS, TRANSPARENCY, USERS, VILLAGE, VILLAGES, VOLATILITY,
Online Access:	http://documents.worldbank.org/curated/en/2015/03/24158206/wing-mobile-payments-product-design-case-study http://hdl.handle.net/10986/21680
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