Banking Through Networks of Retail Agents
affiliation not provided to SSRN
May 1, 2008
CGAP Focus Note, No. 47, May 2008
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.
Number of Pages in PDF File: 24
Keywords: Branchless Banking, Microfinance, Electronic Payments
Date posted: August 9, 2010 ; Last revised: August 22, 2010