Papua New Guinea (PNG) is a country so complex it defies easy description. A place of such diversity it hosts 850 distinct languages for a population of about 7 million. The population figure, mind you, is only a guess as nobody really knows.
CGAP, in collaboration with the College of Agricultural Banking, just completed a national survey, which captured the big picture on agents across the country. In India, the term customer service point (CSP) is used to refer to individuals who act as agents on behalf of banks.
Until recently, Zoona, formerly known as Mobile Transactions could have been considered the best kept secret in Africa. Operating in Zambia on a shoe-string budget, they have been developing their own unique business model for electronic financial services slowly and with little media attention. Now, as of February 2012, this small company has secured investments from three big investors, Omidyar Network, ACCION Frontier Investments, and Sarona Asset Management. All three are banking on the fact that Zoona’s experience and innovative approach to serving a range of consumers situates them to fill crucial gaps in the mobile money transactions and payments market in Africa.
Eko was the first company dedicated to a mobile phone-based basic savings account and payment service for the unbanked in India. Launched in 2007, Eko has carefully developed a mobile-based service usable on the most basic of handsets and continually revised and re-fashioned its approach.
One of the keys to high levels of customer activity is getting it right from the very beginning – ensuring that the registration agent and first customer transactions are both focused on long-term customer activity.
This is the third post in our series on interoperability and related issues in branchless banking and mobile money. Read the first post that presented the overall framework for the discussion and the second post that looked at the interconnection of mobile money platforms. Today, we discuss interoperability at the agent level as it relates to agent exclusivity. We include agent exclusivity in the topic of interoperability because it raises many of the same issues as platform interoperability.
CGAP’s Branchless Banking Database synthesizes a mass of data into a short 12-image “story” about what branchless banking is and the key hurdles we face in 2011. We’ve converted that into a three-part series, which we conclude today.