The first is the ability to use a wireless phone or other mobile device to conduct financial transactions and exchange payments over the Internet. The second is the ability to deliver information that can facilitate a transaction. Mobile commerce consists of two primary components.
FOR TODAY Using mobile initiatives to provide access to your core services and systems Anywhere Anytime
SOME ATTRIBUTES Technology Attribute SMS Store & Forward Need connection to each MNO Generally SMPP Can get costly at high volumes USSD Session based Session limits imposed by MNO 20c per 20 seconds for user SOAP/XML type interfaces MMS Pricey Similar to email Vendor specific IP based services Huge growth area .mobi Applications Removes dependance from MNO
Financial Institutions e Wallet MNO’s Unbanked population
MNO’s Banked/Unbanked Market e Wallets P2P Remittance Pioneers of the first mobile money initiatives Systems, Credibility, Trust amongst The customers Financial Institutions Pre-Paid Micro Insurance Micro Finance First offering to the market Agreement
QUICK FACTS eWallet services was launched in October 2009. As at April 2011 close to 523 108 eWallets had been created. In April 2011 alone, more than R69,000,000 was sent to cellphones with FNB eWallet