Mobile Money Solutions for a Smartphone-Dominated World
Lien, Jerry, Hughes, Laura, Kina, Jorge and Villasenor, John, Mobile Money Solutions for a Smartphone-Dominated World (July 1, 2015), Journal of Payments Strategy & Systems, Forthcoming
11 Pages Posted: 19 Jul 2015 Last revised: 20 Jul 2015
Date Written: July 1, 2015
Mobile money is playing a critical role in promoting financial inclusion in developing countries. Simultaneously, continued price declines are placing entry-level smartphones within reach of a rapidly increasing fraction of the global population. In addition, many of the unbanked live in urban or peri-urban regions where wireless network coverage is good and/or rapidly improving with continued wireless network infrastructure build-outs. This paper addresses the intersection of these trends, which provides both opportunities and challenges. The opportunity lies in using the interface and options available in a smartphone to provide mobile money solutions that are more flexible, more accessible to persons with a wide range of literacy levels, and more secure than solutions based on traditional “feature” phones. The challenge, which the work described in this paper aims to address, lies in actually designing the interfaces and architectures to provide these solutions.
Available at SSRN: http://ssrn.com/abstract=2632372.
Keywords: mobile money, smartphones
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