The document discusses mobile payment in the Middle East and North Africa region. It notes that the region has high mobile penetration, around 90% overall. Mobile payment is growing globally and in the MENA region it is seen as an opportunity for financial inclusion, especially for expat workers and unbanked individuals. The region is comfortable with mobile payment and sees it as an alternative to cash and credit cards. Major players like banks, payment companies, and mobile operators are active in developing mobile payment solutions in the region.
Enabling Online Mobile Payment in MENA talk by T-Pay; ArabNet Beirut 2015ArabNet ME
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Speaker: Sahar Salama, Founder and Head, T-Pay
T-PAY - Giving online merchants the ability to transact with 200+M subscribers in 19 + Operators in the MENA region using DCB. Born with the vision to avail the world most powerful mobile payment method in terms of coverage and user experience to fill the gap in MENA region.
M-Pesa Case study.
This is our last teamwork university project. This time we had to analyze M-Pesa, that is a mobile SIM card based company that facilitates the way to transfer money. M-Pesa is the first "Fintech" company because they used before everyone else the SIM card system to financial services purposes.
This app allows people to transfer money in safety and fast way.
This company was born in Kenya, they were the first to bring 4G in the country. M-Pesa represents a milestone for the African innovation ecosystem.Â
I want to thank my colleagues for the excellent workflow, for the collaboration during the process and for a full and totally work ethic.
Thanks to Sofia Auddino, Carlo Liviero, Giovanni Fabris, Alessandra Cancellari, Lucrezia Wally Bestetti, Francesco Ghezze.Â
And Thanks to H-FARM EducationÂ
#lessons #innovation #Africa #digitalpayments #bank
#economy #digital #hfarmÂ
2018 - Thinking beyond borders in Global Retail Import Export TradeRolf
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By Rolf Visser, "Thinking beyond borders in Global Retail" is all about the How and drivers for cross-border ecommerce. Cross-border e-commerce is a profound driver of positive-sum growth, far outpacing the growth of the economy as a whole. The unstoppable rise of a global e-commerce marketplace could create a trigger for governments to lower trade barriers and harmonize procedures and trade rules. Research includes rare Import and Export facts & figures.
With 20% of the Indians connected over internet and Smartphones, there has not been a more exciting and challenging time in the history of Indian retail.
Consumer is moving ahead of time and with multiple avenues of shopping - be it online, social or mobile - customers have been spoilt for choice.
With millions of Indian buying online and billions of $ of investment pumped in, pure play online retail companies are changing the retail game! An industry which was not even existing 5 years back will clock $4 Billion revenues by end of 2014!
Enabling Online Mobile Payment in MENA talk by T-Pay; ArabNet Beirut 2015ArabNet ME
Â
Speaker: Sahar Salama, Founder and Head, T-Pay
T-PAY - Giving online merchants the ability to transact with 200+M subscribers in 19 + Operators in the MENA region using DCB. Born with the vision to avail the world most powerful mobile payment method in terms of coverage and user experience to fill the gap in MENA region.
M-Pesa Case study.
This is our last teamwork university project. This time we had to analyze M-Pesa, that is a mobile SIM card based company that facilitates the way to transfer money. M-Pesa is the first "Fintech" company because they used before everyone else the SIM card system to financial services purposes.
This app allows people to transfer money in safety and fast way.
This company was born in Kenya, they were the first to bring 4G in the country. M-Pesa represents a milestone for the African innovation ecosystem.Â
I want to thank my colleagues for the excellent workflow, for the collaboration during the process and for a full and totally work ethic.
Thanks to Sofia Auddino, Carlo Liviero, Giovanni Fabris, Alessandra Cancellari, Lucrezia Wally Bestetti, Francesco Ghezze.Â
And Thanks to H-FARM EducationÂ
#lessons #innovation #Africa #digitalpayments #bank
#economy #digital #hfarmÂ
2018 - Thinking beyond borders in Global Retail Import Export TradeRolf
Â
By Rolf Visser, "Thinking beyond borders in Global Retail" is all about the How and drivers for cross-border ecommerce. Cross-border e-commerce is a profound driver of positive-sum growth, far outpacing the growth of the economy as a whole. The unstoppable rise of a global e-commerce marketplace could create a trigger for governments to lower trade barriers and harmonize procedures and trade rules. Research includes rare Import and Export facts & figures.
With 20% of the Indians connected over internet and Smartphones, there has not been a more exciting and challenging time in the history of Indian retail.
Consumer is moving ahead of time and with multiple avenues of shopping - be it online, social or mobile - customers have been spoilt for choice.
With millions of Indian buying online and billions of $ of investment pumped in, pure play online retail companies are changing the retail game! An industry which was not even existing 5 years back will clock $4 Billion revenues by end of 2014!
The whitepaper presents a holistic view of the digital retail space. It decodes the impact of technologies like NFC, Beacons and Apple Pay while giving a glimpse into trends and challenges associated with m-Commerce.
Big wins are to be had by travel merchants that capitalize on this enthusiasm for mobile and integrate a seamless payment flow into their mobile experience. But while some industry leaders are already reaping the rewards, it is still early days for mobile payments in travel. Adyen's Mobile Payments Index - Travel Edition provides a detailed breakdown of travel mobile payments and insights direct from industry experts.
Funded by large global investors, the e-tailing market in India is growing exponentially. Going forward, what are the megatrends likely to emerge in this market?
Over the last decade, Africa has become a global leader in mobile money with the rate of smartphone adoption at twice the global scale. But what challenges is the industry facing and how can these be overcome? Our new article, sponsored by Mazars, explores.
MOL's zGold-MOLPoints platform is a world leading payment platform for online games, virtual goods and digital services for the emerging market with low credit cards penetration and high unbanking population.
Sample Report: Global Mobile Payment Methods: Full Year 2015yStats.com
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Free Report Samples for our publication "Global Mobile Payment Methods: Full Year 2015 ".
Find the full report available for purchase at: https://ystats.com/shop/global-mobile-payment-methods-2021-and-post-covid-19s-recovery/
Biggest Vietnam Mobile Content and Service ProviderVO Tu Duc
Â
An introduction about the biggest Mobile Content and Service Provider in Vietnam.
We are welcome all you guys for cooperation in Mobile VAS in Vietnam Market.
An overview of the mobile wallets in China, we have gathered relevant research to assess the current state and future potential of mobile wallets in China that marketers should know-including the prominent wallet types, usage trends, key challenges and future prospects.
The whitepaper presents a holistic view of the digital retail space. It decodes the impact of technologies like NFC, Beacons and Apple Pay while giving a glimpse into trends and challenges associated with m-Commerce.
Big wins are to be had by travel merchants that capitalize on this enthusiasm for mobile and integrate a seamless payment flow into their mobile experience. But while some industry leaders are already reaping the rewards, it is still early days for mobile payments in travel. Adyen's Mobile Payments Index - Travel Edition provides a detailed breakdown of travel mobile payments and insights direct from industry experts.
Funded by large global investors, the e-tailing market in India is growing exponentially. Going forward, what are the megatrends likely to emerge in this market?
Over the last decade, Africa has become a global leader in mobile money with the rate of smartphone adoption at twice the global scale. But what challenges is the industry facing and how can these be overcome? Our new article, sponsored by Mazars, explores.
MOL's zGold-MOLPoints platform is a world leading payment platform for online games, virtual goods and digital services for the emerging market with low credit cards penetration and high unbanking population.
Sample Report: Global Mobile Payment Methods: Full Year 2015yStats.com
Â
Free Report Samples for our publication "Global Mobile Payment Methods: Full Year 2015 ".
Find the full report available for purchase at: https://ystats.com/shop/global-mobile-payment-methods-2021-and-post-covid-19s-recovery/
Biggest Vietnam Mobile Content and Service ProviderVO Tu Duc
Â
An introduction about the biggest Mobile Content and Service Provider in Vietnam.
We are welcome all you guys for cooperation in Mobile VAS in Vietnam Market.
An overview of the mobile wallets in China, we have gathered relevant research to assess the current state and future potential of mobile wallets in China that marketers should know-including the prominent wallet types, usage trends, key challenges and future prospects.
A short summary of trends and technology in mobile payments. A brief look into the past, present and future of mobile payments. We will have detailed sessions on each in the coming versions.
[MobileMonday Switzerland #2 : Mobile payments and banking.]
Simon Cavill is an acknowledged industry expert in mobile phone, payments and digital broadcasting with over 25 years of industry experience and a raft of patents to prove it. As the CTO of Mi-Pay, Simon was instrumental in the creation and development of this company from start-up to a mature mobile payments business with operations on four continents.
http://www.mi-pay.com/
The mobile money movement by mpay connect dec 2010 innovations publication ...Menekse Gencer
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The genesis of this publication came from a presentation I gave at Columbia University during spring 2010. This publication was written by Menekse Gencer of mPay Connect, a mobile money consulting firm, and will come out in hard copy with MIT Press Innovations Magazine in 2011. To contact the author: http://www.mpayconnect.com/contact
A Mobile Wallet is a container where any financial service can be virtually kept. Your mobile phone can securely connect to all of your bank accounts, managing your coupons, credit cards, loans and money transfers seamlessly.
Mobile Banking – A Transformation of Traditional BankingInfosys Finacle
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www.infosys.com/finacle
How comfortable are we with Mobile Banking? Not very much, it seems. Even today, most of us who use mobile banking do so merely to check account information, transfer funds or pay bills. How many of us are aware of mobile technologies like Near Field Communication (NFC) and Remote Deposit Capture (RDC), which have evolved in response to customers’ need for a mechanism to make quick in-store/ transit purchases and check deposits without visiting a branch or an Internet banking site?
Presentation on mobile payments and mobile money at the June 2013 SmarterCommerce Global Summit in Monaco. Includes description of relevant IBM product families that support mobile money and mobile payments.
A need for peer to-peer strong local authentication protocol (p2 pslap) in mo...IJNSA Journal
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Mobile phones are considered to be the most common devices in history of humankind. They have involved
in financial transaction such as mobile banking and mobile payment, which include sensitive information.
Public key cryptography is the proven solution that can provide secure transaction at every point of
interaction in mobile banking value chain. This paper proposes a need for peer-to-peer Strong Local
Authentication Protocol (p2pSLAP) for Mobile Banking Transaction that implements a peer-to-peer
architecture to provide local authentication mechanism between the customer and the agent. It employs
public key infrastructure (PKI).
South Africa: A Digital Innovation Hub for Financial ServicesSeymourSloan
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South Africa is fast becoming one of the leading digital players in financial services along with Kenya and Tanzania. This piece explores how they have succeeded where others have stalled.
GCC based funds are racking up their investments in Indian start-ups. Saudi based Public Investment Fund (PIF) has announced to invest USD 1 billion into the Reliance Jio platform rivaling Abu Dhabi Investment Authority (ADIA) that has also poured in a similar amount Jio.
2. Mobile Payment in the MENA Region
All around the globe, mobile phones are becoming an integral part of daily lives. There are
presently 5 Billion mobile phone users across the globe. The role of a handset is not just
restricted to talk. It is being used for diverse purposes- text messages, photographs, surf, social
network, multi media consumption etc.
One of the areas where mobiles have made headway in the recent past is payment. Usage of
mobile devices to transfer money or make purchases is mounting up across the globe. The
emergence of sophisticated smart phones has given it a further boost. Presently there are 1.08
Billion Smart Phones users around the world. M-commerce- as it’s commonly known- can be
done either by linking the handset to the bank account or by simply topping up. The later part
is more popular in many of the emerging economies in Asia, Africa & Middle East- regions
marked by high mobile penetration but low penetration of bank accounts.
240
250
200
150
100 69
50
2.4
0
2001 2009 2011
Fig 1: Shows the growth of Mobile-payment or M-Payment over the last ten years in us $
billions. Source: Inter Bank Financial service infographics.
Types of mobile payment
Paritosh Kashyap Page 2
3. Mobile Payment in the MENA Region
Mobile as a point of sale: with the help of a dongle, merchant’s mobile phones can be
used for processing credit card payments.
Contactless payment: works on the NFC technology. NFC, or near field communication
is set of protocols which allow smart phones to communicate with each other or other
devices, with in a very small distance. Credit card info or some other loyalty program
info could be loaded into the mobile phone – which could be eventually used for making
the payment at the point of sales.
Direct Carrier billing: phone number is shared with the merchant & the charge appears
on the mobile bill. Is costliest among all the existing solution, but ensures a very high
degree of security. It’s used more in selling digital goods & applications.
Types of M-payment Companies involved
Mobile as a point of sale Square, intuit, PayPal,
VeriFone
NFC Isis, Visa pay wave, Google
wallet, Master Card pay pass
Direct Carrier billing Zong, Boku, Bill to Mobile,
mopay, payfone
Table 1: Shows the list of various companies active across various types of Mobile payment.
Source: Venturebeat.com
Major Players involved in M-Payment
Paritosh Kashyap Page 3
4. Mobile Payment in the MENA Region
Payment processing network companies- Companies like Visa, MasterCard & American
Express are digitizing their wallets. They are also collaborating with device
manufacturers to develop NFC enabled mobile payment.
Banks: Banking operations such as balance inquiry, payment & transfer of money can be
done over the mobile phone. The initial form of Mobile Banking initiated via SMS was
known as SMS banking. Advent of better technologies eventually lead to advance
version such as WAP & web based banking. This further graduated to installation of
advanced banking application on the mobile phone. These applications ensure better
user interface & experience, enhanced security & pre stored user data.
Technology startups- Lot of application developers & technology startups such as-
Square, Zong are emerging with high end technological solution, designed for the
mobile payment landscape. Some of the leading players are as follows –
a) Card.io: Have developed an application to process credit card payments through
phone. One needs to hold the credit card up to the phone. The camera in the phone
will read the details in the card & authenticate the payment without involving any
typing.
b) Zong: A carrier billing solutions, where the phone number is shared with the
merchant & the charge appears on the mobile bill.
c) Square: Are dongles attached to the merchant’s smart phone our tablet & can process
credit cards.
Network Operators- Operator led money transfer can be an additional source of income
for operators. It can be implemented either by linking the network with a bank account
Paritosh Kashyap Page 4
5. Mobile Payment in the MENA Region
of credit card or with the help of top ups. The top ups do not require existing bank
accounts.
Web Companies- Web giants like Google are also entering into the rapidly evolving
market of mobile payments.
Present industry scenario
As discussed, due to the increase in popularity of M-commerce, many big financial institutions,
web companies, payment companies, application developers are jumping on the bandwagon.
Visa has made strategic investment in Square (mentioned above)- a mobile payment platform.
Google has launched “Google Wallet”- a mobile payment system. The 3 giants in USA- AT&T,
Verizon & T-Mobile have joined hand to incubate ISIS- a mobile payment space, expected to be
piloted in mid 2012. PayPal has acquired mobile payment provider Zong (mentioned above) for
US $ 240 Millions.
7,000 6,200
6,000
5,000
4,000
3,000
2,000
670
1,000 240
0
Global credit card Mobile payment (2011) Mobile Payment
payment (2010) (2015, est)
Fig 2: shows figures for credit card & mobile payments. Source: Visa 2011 annual report. Values
are in US $ billions.
Paritosh Kashyap Page 5
6. Mobile Payment in the MENA Region
Mobile Payment in the Mena region
Middle East & North Africa Region (MENA) is one of the most fertile grounds for Mobile
Payment. It basically has two types of market base-
High end customers residing in Gulf countries & other parts of the region with
sophisticated smart phones & high disposable income.
Unbanked individuals which includes vast population in North Africa & Levant as
well as expat workers living in GCC. They can use mobile phones for money
transfer, remittances & payment. Mobile technology in convergence with financial
institutions & network operators can be a very effective tool for financial inclusion.
Such model has been extremely successful in Kenya in the form of M-Pesa &
requires neither a sophisticated handset nor a bank account.
Advantage Middle East & North Africa
High mobile penetration: MENA has an overall mobile penetration of around 90%. By
the end of 2012, it’s expected to see 250 Million mobile phone subscriptions. By 2016,
additional 100 Million phone subscriptions are expected to be added. In terms of volume
Iran is the biggest market, followed by Saudi Arabia.
Paritosh Kashyap Page 6
7. Mobile Payment in the MENA Region
Uae 99%
Saudi Arabia 95%
Iran 91%
Egypt 90%
Morocco 90%
Oman 77%
Jordan 75%
0% 20% 40% 60% 80% 100%
Fig 3: Shows mobile penetration for some of the selected mena countries. (Multiple handsets
have not been considered). Source: Insights Mena
Expat Work Force: In Gulf countries, a large percentage of population comprises of
expat population- large no. of which are part of industrial work force. Large volume of
remittances is send through them. Saudi Arabia itself witnesses an annual outflow of
US$ 100 Billion as remittances. Mobile payment can be a suitable option for money
transfer as well as salary payment for such workforce- given the fact that many of them
do not have bank accounts.
Comfortable with mobile payment: In MENA region people are credit card shy. Cash &
carry culture predominates over credit cards. Fortunately the same does not hold true, in
case of mobile payment. A research conducted by Plus 7 on 4000 smart phone users in
the region, shows that individuals intend paying by their mobile phones.
Paritosh Kashyap Page 7
8. Mobile Payment in the MENA Region
Bahrain 40%
Qatar 33%
Kuwait 33%
Uae 33%
Saudi Arabia 33%
Egypt 33%
Oman 25%
0% 5% 10% 15% 20% 25% 30% 35% 40%
Fig 4: shows the percentage of respondents for various countries who are comfortable
purchasing products on their phone. Source: Plus 7.
Other than the above mentioned points, there is lot of other factors- conducive for the growth of
Mobile Payments in the MENA region. One of them is the young demography in the MENA
region. A vibrant younger population ensures quick adoption of newer technologies.
Given the fact that MENA is a fertile ground for Mobile Payment, many companies, across the
globe are entering or planning to enter in to the market. Some of them are Brick2Click.com, Mi-
Pay, Mobibucks, and Gemalto etc. The given list table shows, some of the companies –
Name Country Type/ services
Mi-pay UAE M-payment services
for -Fin, utility,
network operator &
Paritosh Kashyap Page 8
9. Mobile Payment in the MENA Region
media comp.
M-pay Kuwait Top ups, bill
Mobibucks Uae M-payment solution
provider to bank &
merchants
Jiring Iran Salary, purchase
Gemalto (planning Pan Middle east Service provider for
phase) bank, network
operator
Table 2: shows some of the M-payment providers in the region. Source: Zawya, Wamda
The unique socio-economic factors, coupled with the young demographics in the region makes
the MENA region optimum for M-commerce & M-payment to flourish. Many consumers have
jumped directly from cash payments to mobile payments, by passing the credit card mode. For
many merchants, inclusion of a M-payment system is not just optional but indispensable. But
there are some bottlenecks as well. Not all local banks are well equipped to provide M-Payment
gateway. There is also a very serious dearth of local Arabic applications. A lot more needs to be
done to consolidate MENA as a strong base of M-Payment. In order to realize this- network
operators, technological solution provider, financial institutions & regulators- all need to work
in convergence.
Source: Read Write Web, Infosys.com, Mashable, Digby, IBFS, Zawya, Wamda,
DailyMenadeals, Thenextweb, Zawya, Wamda, Insights MENA, Venture beat.
Paritosh Kashyap Page 9