Dashboard Members Organizations Community Updates Login Sign Up
Copy linkCopy link to post
Angel L. Apr 15, 2022
General Updates
Last active in the past 7 days
Last active in the past 7 days
I find the M-PESA model of combining physical money with electronic money fascinating in terms of how it has helped countries in Africa move money around in a controlled and safe way. Bringing an element of banking to a huge unbanked population.

What are your thoughts? Do you have other examples of e-money style services helping the underbanked / unbanked people of the world.

#fintech #innovation #payments #underbanked #unbanked
2022 04 15 10 11 22
  2 comments
Alexis C. B. May 2, 2022 -10:18AM 2/ The responsibility for that kind of fraud risk management framework rests with the telecom companies and the super agents (typically banks).
Alexis C. B. May 2, 2022 -10:16AM Hi, Angel. I investigated one of the first mobile money (M-PESA) cases in Uganda, Africa. From a fraud risk management perspective there are inherent risks at the bank level (super agent), the store level (agent), the customer level (end user), and even at the telecom itself. There are a lot of benefits for the unbanked to transfer minutes rather than pay cash for a transaction. In some countries, it is pervasive enough that they can buy a bus ticket, purchase groceries, pay for services, buy gas, etc. using this alternative remittance system (ARS). This is especially helpful to those that live in remove villages. My word of caution would be that this kind of ARS needs a fraud risk management framework just like any other asset.

Return to Updates
More Updates From Angel
Angel L. Jan 17, 2025
Last active in the past 7 days
  1 comment
Angel L. Dec 10, 2024
Last active in the past 7 days
 
Angel L. Aug 19, 2024
Last active in the past 7 days
 
Angel L. Jun 11, 2024
Last active in the past 7 days
  2 comments
Angel L. Jun 11, 2024
Last active in the past 7 days
 
Members online now (8)
Online and active
Online and active
Online and active
Online and active
Online and active
See more