Mobile Phones for Microfinance

Mobile phones can be used for financial services in three different ways: for micro payments (m-commerce), as electronic money (e-money), and as a banking channel. The report examines who offers mobile phone banking services to poor customers? Why is there so much excitement about banking the poor with mobile phones? What are some reasons to be cautious? This reports that the Consultative Group to Assist the Poorest (CGAP), in partnership with the Vodafone Group Foundation and the United Nations (UN) Foundation, is now doing research in the Philippines and South Africa to find out what makes poor people use or reject these services and how remote mobile phone banking can go. This research can help banks, microfinance institutions, mobile phone companies, regulators, and donors steer mobile banking toward reaching large numbers of the poor.

Bibliographic Details

Main Authors:	Ivatury, Gautam, Pickens, Mark
Language:	English
Published:	World Bank, Washington, DC 2006-04
Subjects:	ACCOUNT BALANCE, ATMS, BANK ACCOUNT, BANK ACCOUNTS, BANK BRANCHES, BANKING SERVICES, BANKS, CASH TRANSACTIONS, COMMERCE, CREDIT CARD, CREDIT CARDS, CUSTOMER ACCOUNT, CUSTOMER ACCOUNT INFORMATION, DEPOSIT, DEPOSITS, DIRECT DEPOSIT, DOMAIN, E-MAIL, E-MONEY, ELECTRONIC MONEY, FINANCIAL SERVICES, FINANCIAL SYSTEMS, INTERFACES, INTERNATIONAL SECURITY, INTERNATIONAL TELECOMMUNICATIONS, LITERACY, LOAN, LOW COST, M-COMMERCE, MATERIAL, MICROFINANCE, MICROFINANCE INSTITUTIONS, MICROPAYMENTS, MOBILE BANKING, MOBILE COMMERCE, MOBILE NETWORK, MOBILE PHONE, MOBILE PHONE SUBSCRIBERS, MOBILE PHONES, NETWORK INFRASTRUCTURE, NETWORKS, PHONE, PHONE BANKING, REGULATORS, RETAIL OUTLETS, SALARY, SECURITY STANDARDS, SMALL PAYMENTS, TELECOM, TELECOMMUNICATION, TRANSACTION, TURNOVER, USERS, WEB,
Online Access:	http://documents.worldbank.org/curated/en/2006/04/9638819/mobile-phones-microfinance https://hdl.handle.net/10986/9621
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