Financial Inclusion in Action

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Over The Counter Transactions – Liberation Or A Trap? – Part I

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The Cause For Concern I am back obsessing about over the counter (OTC) transactions again. Before we dive in let’s quickly define OTC transactions as they come in many forms in different markets – from the direct deposit by the agent into the end-user’s wallet in Kenya to the transfer of money from one agent… Continue reading

Survival of the Fittest: The Evolution of Frauds in Uganda’s Mobile Money Market (Part-II)

In the first blog of this series we outlined the evolution and increasing sophistication of fraud in Uganda. The ingenuity of fraudsters is impressive. But what about the MNOs’ response? Have the providers set up systems improvements and processes geared toward checking such frauds? Talking to the staff of leading mobile money providers in Uganda,… Continue reading

Survival of the Fittest: The Evolution of Frauds in Uganda’s Mobile Money Market (Part-I)

Uganda has seen an explosive growth in mobile money adoption in the last few years, growing from 550,000 active users in 2009 to 5.2 million in 2012 (active on a 30 day basis) according to the Economic Regulation Unit’s Broadcasting & Telecommunications Market Review 2011/12. Now, the rate of mobile money account ownership outstrips bank… Continue reading

The OTC Trap – Impact on the Business Case for Uganda’s Mobile Network Operators

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Mobile money providers in Uganda are well aware of the Over The Counter (OTC) trap and its implications, but their response to it will be the subject of another, later blog. This blog examines why OTC matters – enormously – to all stakeholders in digital financial services (DFS). As highlighted by Pawan Bakshi, in “Beware the… Continue reading

Mobile Money Agents in Uganda: Sprinting ahead, but the marathon’s not yet over

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With 50% of cash-in/cash-out agents conducting at least 30 transactions per day, it is evident that Uganda is one of the world’s leading digital finance markets. However, despite its impressive growth, many operational challenges still persist. The Helix Institute of Digital Finance’s ‘Agent Network Accelerator Survey: Uganda Country Report 2013’ (conducted by MicroSave and the Bill & Melinda Gates… Continue reading

Choosing An Agent Management Model

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One important question service providers have to ponder prior to entering the market is the agent hierarchy structure. Adopting a model which fits the market will save time, and money, and reduce stress levels for Senior Executives! The three models below illustrate the most common options available for service providers: The Direct Agent Hierarchy Model enables the… Continue reading

Can India Achieve Financial Inclusion Without the Mobile Network Operators?

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India is attempting to create financial inclusion using direct benefit transfers as the flywheel that turns the engine of an electronic payment system, the creating volumes and interoperability necessary for real financial inclusion. Currently volumes at rural agents are simply not adequate – resulting in very low commissions and debilitating levels of agent churn. Furthermore,… Continue reading