Disqus
At this session, we’ve heard representatives of regulators discussing their views of the current and future requirements of mobile money regulation. The general and corporate requirement perspective as well as the consumer demand perspective has been presented.
Key points/questions of the panel:
- Brand and distribution are seen to be the key assets required to deliver mobile money services.
- Financial services regulation for non-banks is alive in some markets and has been blocked in others.
- Solving regulatory barriers for mobile money.
Panelists were:
- Stephen Mwaura, Central Bank, Kenya
- Kim Vada, Deputy Director General, National Bank of Cambodia
- Carlo Corazza, Payment Systems Development Group, The World Bank
- and a guy from Mexico, whose name I forgot and who came instead of James Olekah from Nigeria
And here’s what we’ve learned from the panel:
- They all talked about challenges they faced when tried to implement mobile payment solutions.
- We’ve heard how things are developing in Kenya, Cambodia and Mexico, their respective regulatory frameworks, and what they do (and still need to do) to foster mobile financial services adoption.
- How to protect customers was one of the key points.
- Mobile money related services are seen as huge opportunity, and governments plan to invite/license more service providers.
- Micro-finance institutions along with operators can reach those people that banks can’t.
- World Bank does its share to assist the payment reform in developing countries by helping governments implement clearing systems, assist them in legal framework, and help them include the retail sector. So far, involving central banks in the process proved successful.
That’s it for this panel. The next presentation is on…
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
