developing countries are revolutionizing mobile banking
TRANSCRIPT
A presentation on
Developing Countries Are Revolutionizing Mobile Banking
Presented By:Tanvirul Hakim
What is MFS
Mobile financial services is a term used for performing, financial transactions, financial payments, balance checks and other banking transactions through a mobile device such as mobile phones.
First MFS in UK On February 16, 2012,
Barclays of U.K. launched Pingit, a service that lets people send and receive money using a Smartphone.
- Pingit isn’t the first innovation in mobile banking
- Developing countries already use this phenomenon
Inter-Bank Mobile Payment Service (IMPS) in Developing Countries
• M-Pesa in Africa
• NPCI in India
• Bkash in Bangladesh
Reasons behind the necessity of MFS in India
• Large un-banked population
• 840+ million mobile subscribers
• Fast & easy to Serve • Available banking
services in 24/7
• Convenient to use • Nationwide & Affordable• Secure & safe • Performed by the
customer
How MFS Work
Products of MFSMode of Transaction Name of Products
Person to Person (P2P) Mobile Banking
Money Transfer (Cash Receive or Send) P2P
Person to Business (P2B) Mobile Banking
Cash Out to Agent A/C, Merchant payments
Business to Business (B2B) Mobile Banking
Bill payments, Cash-on-delivery payments, Corporate cash management
Business to Person (B2P) Mobile Banking
Cash In (Receive from Agent), Receive from International remittance
Perspective: Bangladesh • Since 2011, mobile financial services (MFS) had proved
to be the finest integration of finance and technology in Bangladesh.• where only 29.1% of adult population had access to
financial services, whereas 78% of the total population possessed mobile phones. • Bangladesh Bank has allowed 28 banks to offer MFS • In which 19 banks have already start their journey
Market share of leading MFS company February 2015
58%17%
9%
8%
3%6%
bkash
DBBL
mCash
Ucash
MYCash
Others
Transactions share as of February 2015In USD Millions
0%
42%
37%
19%1% 1% 1% Inward Re-
mitance
Cash In
Cash Out
P2P
B2P
Utility P2B
Others
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