During the Mobile Money Summit, the GSMA announced that the first three applications to the Mobile Money for the Unbanked Fund have been approved to compete for the MMU Award.
The first MMU Award category will be part of the Asia Mobile Awards to be presented in Hong Kong at the Mobile Asia Congress on November 18th. The award will recognise the mobile money service or application that has had the most significant impact on unbanked customers in developing markets over the last year. The Asia Mobile Awards will open for entry in early July and close on September 15th. This new MMU category will also be included in the GSMA’s Global Mobile Awards.
Eligibility criteria for the MMU Fund:
- The project must involve providing mobile money services to unbanked customers living on under $2 per day;
- The mobile money service proposed must be innovative, market based and its development likely to be accelerated with the support of the MMU Fund;
- Applicants must explain why the project cannot readily obtain commercial finance or other sources of finance;
- Funding must be utilised within the project timeframe of 2 years.
The Bill & Melinda Gates Foundation provided $12.5 million to GSMA for the project…