LATEST PUBLICATIONS
WP-2012-07
Regulatory Impact Assessment Adoption Determinants: A Diagnostic Framework
WP-2012-06
Exploring Responses to the Employment Impact of Excise Tax Reform: The Case of the Philippine Tobacco Industry
WP-2012-05
Mapping Out Employment Opportunities in the Cultural Heritage Sector A Strategic Framework
WP-2012-04
Enhancing Decent Work Outcomes in Small-Scale Gold Mining

LATEST AV MATERIALS
PIDS WB 2021-0904
Annual Public Policy Conference Webinar 3: Green And Inclusive Recovery
PIDS WB 2021-0903
Annual Public Policy Conference Webinar 2: Ethical Business
PIDS WB 2021-0902
Opening Program and Annual Public Policy Conference Webinar 1: Resetting Capitalism
PIDS WB 2021-0901
19th Development Policy Research Month Kick-Off Forum
Publication Detail
CGAP 2006-01: Mobile Phones for Microfinance

This paper explores the possibility of mobile phones benefiting poor microfinance clients. It begins by listing the ways in which mobile phones can be used for financial services: * For micro payments (m-commerce); * As electronic money (e-money); * As a banking channel. The paper elaborates that: * Both banks and network operators offer mobile phone banking services to poor customers; * The following are the reasons why there is so much excitement about banking the poor with mobile phones: o The number of merchants and poor people who have mobile phones is growing fast; o Poor customers are already familiar with mobile phones; o Mobile phones are always on; o Mobile phone operators already know how to handle cash transactions for customers. The paper finds the following reasons for exercising caution about mobile phone banking: * They are not yet inter-operable; * Payments may not yet conform to international security standards; * For banks, a mobile phone only channel has not yet proved profitable; * They may not be able to reach the most remote and poor areas; * They might not be easy to use for illiterate and older users; * Their regulation is not yet clear. The paper concludes that research on what makes poor people use or reject these services can help banks, microfinance institutions, mobile phone companies, regulators and donors steer mobile banking toward reaching large numbers of the poor.

PinoyME Foundation
Authors Keywords
CGAP; microfinance; mobile phones; mobile banking; House Bill No. 6229;
Download PDF Number of Downloads
Published in 2006 and available in the CGAP or Downloaded 345 times since November 25, 2011
×
Please let us know your reason for downloading this publication. May we also ask you to provide additional information that will help us serve you better? Rest assured that your answers will not be shared with any outside parties. It will take you only two minutes to complete the survey. Thank you.


To use as reference:
If others, (Please specify):
Name: (optional)
Email: (required, but will not display)
Age:
Gender:
If Prefer to self-describe, please specify:
Level of Education:
Occupation:
If employed either part-time or full-time, name of office:
If others, (Please specify):
Would you like to receive the SERP-P UPDATES e-newsletter? Yes No
Use the space below if you have any comment about this publication or SERP-P knowledge resources in general.