A New Mobile Money Toolkit

Posted by MelissaUlbricht on Jan 19, 2011

At MobileActive.org, we’ve written about initiatives and research in the field of mobile money and mobile banking. It's a burgeoning industry and there is no shortage of relevant projects, services, and advances. Which is why we’re interested in the Mobile Money Toolkit from the International Finance Corporation, a member of the World Bank Group.

We caught up with Margarete O. Biallas of the IFC to learn more about the toolkit and how it can be used by our MobileActive.org readers.

Q: Who would be interested in using the Mobile Money Toolkit?

A: Anyone engaged in providing electronic banking services using mobile technology.

The toolkit is useful for anyone interested in providing electronic banking services using mobile channels. IFC clients will derive the greatest benefit as they can access the entire toolkit and receive IFC's advice using modules of the toolkit.

Q: What is the best way for someone to use the Toolkit?

A: It depends on where you are in your business development.

For example, an established company might not benefit from the call center modules, but would benefit from the financial awareness modules. IFC can help clients to identify which tools are applicable to them at a given point in time.

Those seeking to develop a new business may benefit from starting with the first two modules, which look at the business case and the drivers of success. Payment service providers, banks, or mobile network operators who have already made the decision to launch a mobile channel or deploy a mobile wallet have often found the financial modeling tool or the agent training modules useful.

Q: What is unique to the Toolkit?  

A: Aggregation and convenience.

Most of the publicly available modules are not unique. What is unique is that we have cited a large number of materials and collected what we thought to be the best and most relevant sources in one space, making it easier to access. There are also a number of tools that have been developed specifically for this toolkit.

Q: What are your plans to update and keep it current?

A: It’s a living document; the IFC encourages contributions from readers.

The toolkit is designed as a living document. Modules will be updated and replaced as additional experiences with mobile payments and other electronic banking solutions are gathered. To the extent that IFC is aware of new publications becoming available, information will be cited and posted in the toolkit as relevant.

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