Banking Through Networks of Retail Agents

CGAP Focus Note, No. 47, May 2008

24 Pages Posted: 9 Aug 2010 Last revised: 22 Aug 2010

Ignacio Mas

Tufts University

Hannah Siedek

affiliation not provided to SSRN

Date Written: May 1, 2008

Abstract

Technology can enable banks and their customers to interact remotely in a trusted way through existing local retail outlets. Customers can be issued bank cards with appropriate personal identification number (PIN)-based or biometric security features, and the local store - the “banking agent” - can be equipped with a point-of-sale (POS) device controlled by and connected to the bank using a phone line or wireless or satellite technology. Infrastructure requirements can be further reduced by using mobile phones both to hold “virtual cards” for customers and as a POS device at the store.

Keywords: Branchless Banking, Microfinance, Electronic Payments

Suggested Citation

Mas, Ignacio and Siedek, Hannah, Banking Through Networks of Retail Agents (May 1, 2008). CGAP Focus Note, No. 47, May 2008. Available at SSRN: https://ssrn.com/abstract=1655259

Ignacio Mas (Contact Author)

Tufts University ( email )

Medford, MA 02155
United States

Hannah Siedek

affiliation not provided to SSRN ( email )

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