China's pilot of 500,000 banking agents show significant promise for financial inclusion. Allowing these agents to offer a greater variety of services, such as taking deposits and opening new accounts, could lead to faster growth and more usage.
Even though interoperability could potentially benefit the mobile financial services market, thus far there have been few attempts to get mobile money systems to work together. It may be too early for interoperability in some areas, Tanzania seems ready.
The latest data from the Intermedia Financial Inclusion Insights survey suggests that providers continue to focus on basic over-the-counter (OTC) services. Kabir Kumar and Dan Radcliffe discuss lessons learned from the survey and Pakistan’s potential for digital financial inclusion.
Despite the continued dominance of agent-assisted OTC transactions in Pakistan, it is not all doom and gloom. We note four recent developments that just might trigger a rapid expansion in mobile account usage in 2015.