Leveraging mobile money to increase access to banking services

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Leveraging mobile money to increase access to banking services

  1. 1. Leveraging New Partners & Platforms to IncreaseAccess to Banking Services
  2. 2. Microenterprise Access to Banking Serviceswww.rbapmabs.org Bank Accounts vs. Mobile Phone Subscriptions Philippines (in Millions) 90 80 70 60 50 GCASH and Smart Padala 40 was launched 30 20 10 0 19981999 2000 2001 2002 2003 2004 2005 2006 2007 Bank Accounts Mobile Phone Subscriptions 2008 2009 2010 2011
  3. 3. Mobile Money Platforms•Card-less Mobile Money Platform •Card-based Mobile Money Platform•EMI - G-Xchange Inc (GXI) •EMI – Banco de Oro (manages float)•Float held in multiple banks •EMNSP – Smart Communications•Payments •Payments•Money Transfer •Money Transfer•Mobile Banking •Mobile Banking
  4. 4. The Rise of MPESAMobile Money solution launched in March 200714 million subscribers vs 7 million bank accountsMore transactions daily than ATM,debit & credit cards combined
  5. 5. Today, Rural Banks Can Offer the Following Mobile Phone Banking Services…
  6. 6. Banks partnering with Mobile Money Issuers & Third Parties• Rural Banks, Commercial Banks, & ATM networks now linked to GCASH & Smart Money in the Philippines• Multiple Banks in Kenya now linked to MPESA
  7. 7. Rural Banks using GCASH to Expand Outreach RBs registered over 380,000 clientsOver PhP 15 Billion ($350 million) in mobile phone banking transactions via GCASH
  8. 8. Rural Bank Mobile Money Ecosystem via GCash Text-a-Payment / Int’l & Domestic Remco’s PGCash2Load P2P(Airtime Credit Purchase) (Domestic Remittance) Text-A-Withdrawal Text-A-Sweldo (Withdrawal from Bank (Salary Account to GCash Wallet) Disbursement) RURAL Rural Bank BANKS Text-A-Credit Text-A-Remittance (Loan / Credit Cash-in/Cash-out Disbursement) (Face-to-Face Wallet Funding) Text-a-BillPay Text-A-Deposit P2P (Bills Payment) (Deposit to Bank Account) (Purchase of Goods/Services)
  9. 9. Branchless Banking via Third-Party AgentsPartnering with third-party agents to expandaccess to banking services, challenging butgetting easier
  10. 10. Third party agents – key to providing access CUSTOMER BANK Third partySupport FacilitatingServices Banking Services
  11. 11. Integrating with existing POS/ATM systems Trend in linking mobile money with ATM/POS enabled cards – good opportunity for banks – GCASH wallet ATM/Debit Card – Smart Money MasterCard/ATM Card – MPESA – PesaPoint System card-less ATM access
  12. 12. Scaling up of Branchless Banking Services Challenges Solutions1) Regulators & Regulations 1) Get regulators on board early & get them to the field 2) Leverage existing networks2) Building an agent network of mobile money / others 3) Integrate mobile money &3) Bank legacy systems branchless banking with existing payment/ATM systems
  13. 13. Scaling up of Branchless Banking Services Challenges Solutions4) How to promote 4) Make sure to address realbranchless banking services need/use cases5) Working with Banks - 5) Partnerships take time butMobile Money Issuers & leveraging each others coreOther Third Parties competencies6) Business proposition for all 6) Proper Market Research &parties Business Planning – There is a Business Case!
  14. 14. Thank You Email: jowens@chemonics.com Twitter: Jvowens Websites:http://www.mobilephonebanking.rbap.org/ http://blog.mobilephonebanking.rbap.org/

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