Unstructured supplementary service data (USSD), a communications service controlled by mobile network operators, is a critical piece of infrastructure used to provide mobile financial services on most phones, at low cost, and without requiring access to the user’s SIM card.
The rate of mobile money (MM) adoption among poor people remains low. However, the mechanisms driving adoption are similar to those of other segments. This analysis revealed that social networks and social interactions influence mobile money uptake.
While many banked people already use mobile banking in China, the country also has the potential to emerge as an important success story for branchless banking and financial inclusion and potentially a new paradigm.
Smartphone applications offer a powerful tool for financial service providers to offer services to their customers—if done right. CGAP reviewed six smartphone apps currently available in India to find out what design elements are essential to fully deliver on the promise of marrying a financial service with a smartphone interface.
This Working Paper explores three approaches banks in Kenya have used to respond to mobile money. While nonbank mobile financial services can fundamentally reshape the financial sector in a developing market, as they have clearly done in Kenya, mobile services need not represent an existential threat to the traditional banking industry.