Be the first to like this
In this paper we argue that mobile banking offers the opportunity to diminish the financial exclusion suffered by the poor by offering access to credit and to savings which are key tools capable of transforming the livelihoods of the poor as well as the efficiency of the market. However, mobile phones need a complete ecosystem that supports its application to a functioning mobile banking service. The aim of this paper is to contribute to existing knowledge of mobile money across the value chain by providing insight into the mechanisms of m-money, the value propositions within the business of m-banking and what is preventing its swifter adoption and usage in the developing world. We develop a taxonomy of the key drivers of the business model which provides insights for assessing the replicability of these models. We focus on models developed in Kenya, the Philippines, and Brazil and explore what is lacking for a widespread adoption of m-money for the BoP1 in other countries.