Abstract

http://ssrn.com/abstract=1825122
 
 

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Savings as Forward Payments: Innovations on Mobile Money Platforms


Ignacio Mas


Independent

Colin Mayer


University of Oxford - Said Business School; Centre for Economic Policy Research (CEPR); European Corporate Governance Institute (ECGI)

September 2, 2011


Abstract:     
This paper presents a new framework which allows people to manage their diverse payment, cashflow management and commitment savings needs simply and intuitively, from a single account. It builds on the logic of mobile money platforms, which provide customers with the ability to initiate real-time electronic payments from their mobile phone and to keep funds in a store-of-value account. By introducing the notion of forward (or deferred) payments, it is possible to create a much richer set of uses for the basic transactional account which cater to people’s need for commitments and ear-marking of funds for specific goals. It is functionally equivalent to a system where the customer can create multiple sub-accounts, but it is much easier to conceive and manage by the customer since it does not entail multiple account opening or multiple account numbers.

Number of Pages in PDF File: 14

Keywords: Mobile money, mobile banking, electronic payments, branchless banking, access to finance, financial inclusion, financial systems, financial sector development, banking

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Date posted: April 29, 2011 ; Last revised: September 4, 2011

Suggested Citation

Mas, Ignacio and Mayer, Colin, Savings as Forward Payments: Innovations on Mobile Money Platforms (September 2, 2011). Available at SSRN: http://ssrn.com/abstract=1825122 or http://dx.doi.org/10.2139/ssrn.1825122

Contact Information

Ignacio Mas (Contact Author)
Independent ( email )
No Address Available
Colin Mayer
University of Oxford - Said Business School ( email )
Park End Street
Oxford, OX1 1HP
Great Britain
+44 1865 288112 (Phone)
+44 1865 288805 (Fax)
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
European Corporate Governance Institute (ECGI)
c/o ECARES ULB CP 114
B-1050 Brussels
Belgium
HOME PAGE: http://www.ecgi.org
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