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  • Mobile Money Services Study

    Country Report with In-Country Findings for:

    Romania

    Georgia

    Ukraine

    Turkey

    Russian Federation

    Kazakhstan

    Kyrgyz Republic

  • EBRD Mobile-Money Country Report January 2013

    Document Control

    Document

    Authors

    Mihir Parikh, Andreas Rindler, Stepan Konstantinov,

    Alejandro Garcia-Monterde, Christian Bruck

    Reference EBRD Mobile Money Country Report

    Version 7

    Date 4th January 2013

    Approval

    Sibel Beadle, Operation Leader, EBRD

    Bradley van Leeuwen, Associate Banker, EBRD

    Document Security

    Any person, other than the authorised holder, upon obtaining possession of the

    document should take it to the nearest Police Station or forward it, together with

    their name and address in a sealed envelope to:

    BearingPoint

    16 Great Queen Street

    London

    WC2B 5DG

    United Kingdom

    Telephone: +44 (203) 2069670

  • EBRD Mobile-Money Country Report January 2013

    TABLE OF CONTENTS 1. OVERVIEW OF MOBILE MONEY SERVICES...................................................................................................... 1

    INTRODUCTION ................................................................................................................................................. 1 1.1.

    TAXONOMY OF SERVICES .................................................................................................................................... 2 1.2.

    BANKING AND PAYMENT CONVERSION CHAINS ....................................................................................................... 5 1.3.

    KEY BENEFITS OF M-MONEY ............................................................................................................................... 8 1.4.

    BUILDING BLOCKS OF MOBILE MONEY SERVICES ................................................................................................... 13 1.5.

    KEY SUCCESS CRITERIA FOR MOBILE MONEY SERVICES ........................................................................................... 14 1.6.

    ANALYSIS OF KEY SUCCESS CRITERIA ................................................................................................................... 16 1.7.

    2. COUNTRY RATINGS AND RECOMMENDATIONS ........................................................................................... 18

    3. COUNTRY PROFILE: ROMANIA..................................................................................................................... 23

    4. COUNTRY PROFILE: GEORGIA ...................................................................................................................... 45

    5. COUNTRY PROFILE: UKRAINE ...................................................................................................................... 63

    6. COUNTRY PROFILE: TURKEY ........................................................................................................................ 79

    7. COUNTRY PROFILE: RUSSIAN FEDERATION .................................................................................................. 98

    8. COUNTRY PROFILE: KAZAKHSTAN ............................................................................................................. 113

    9. COUNTRY PROFILE: KYRGYZ REPUBLIC ...................................................................................................... 130

    10. POTENTIAL NEXT STEPS WITH INTERESTED ENTITIES ................................................................................. 147

    11. APPENDIX .................................................................................................................................................. 149

    KEY OCCASIONS OF PAYMENT ....................................................................................................................................... 149

    TABLE OF FIGURES

    Figure 1, Taxonomy of Mobile Money Services ............................................................................................ 4

    Figure 2, Unbanked to Banked Conversion................................................................................................... 5

    Figure 3, Cash to Mobile Wallet Conversion ................................................................................................. 6

    Figure 4, Mobile Money Building Blocks ..................................................................................................... 13

    Figure 5, Key Success Criteria for Mobile Money Services ................................................................. 15

    Figure 6, Analysis of Subset of Key Success Criteria ................................................................................... 17

    Figure 7, Mobile Money Opportunity Attractiveness - Country shortlist ................................................... 18

    Figure 8, Guide to Ratings Scorecard .......................................................................................................... 19

    Figure 9, Ratings for 29 countries based on BearingPoint analysis ............................................................ 20

    Figure 10, Sample Country Evaluations ...................................................................................................... 21

  • Page 1 of 163

    EBRD Mobile-Money Country Report January 2013

    1. OVERVIEW OF MOBILE MONEY SERVICES

    Introduction 1.1.

    Rapid developments in mobile phone technology, network capability and

    availability, and consumer adoption are providing unprecedented opportunities for

    businesses and governments alike to offer new types of products and services to

    the market, consumers and citizens. The same radical forces of technology and

    service innovation that enabled emerging market countries to skip the fixed

    telephone line infrastructure investments are now at play to potentially

    revolutionise the world of financial services and to financially connect the world

    through mobile. According to The World Bank, remittance flows to the developing

    world are set to reach $406 billion in 2012 (a 6.5% rise on last year) with a rise in

    mobile remittances.

    In 2012 the GSM Alliance was tracking approximately 144 live deployments and

    105 planned deployments of mobile money services globally1. Mobile money

    services typically include the provision of mobile banking, mobile money transfer

    and mobile payment services. These services are centred on the movement of

    money, but are considered to be part of the more widely defined mobile financial

    services, which can include other financial services like insurance, loans etc.

    This study includes an analysis of mobile money services across EBRDs core

    countries of operation including CEE, CIS and North Africa. The primary purpose of

    the study is to provide EBRD bankers with a fact base on what the current situation

    of mobile money services looks like and what obstacles and opportunities for the

    establishment and further development of mobile money services exist in these

    countries.

    It should be noted that mobile phone technology, designs and user preferences are

    rapidly changing and that the lines between mobile phones and other mobility

    devices like tablets are being blurred. While this study is primarily focused on

    mobile feature phones and mobile smart phones, many of the concepts will also

    hold true for these other types of mobility devices.

    1 http://www.gsma.com/developmentfund/programmes/mobile-money-for-the-unbanked/

    http://www.gsma.com/developmentfund/programmes/mobile-money-for-the-unbanked/

  • Page 2 of 163

    EBRD Mobile-Money Country Report January 2013

    Taxonomy of Services 1.2.

    In order to ensure a common understanding of the core concepts this section

    describes the key types of mobile money services. As no commonly agreed

    taxonomy of services is in existence anywhere in the literature or industry

    publications, the authors of the study developed the following taxonomy based on

    industry experience, publications and academic literature.

    Mobile Money Services are divided into the following three groups:

    Mobile Banking

    Mobile Money Transfer

    Mobile Payments

    Mobile Banking includes informational services and transactional services linked to a

    regular bank account and delivered via a mobile app, mobile website or simply via

    2-way SMS/USSD messaging. It is usually offered by financial services

    organisations that treat mobile as an additional channel for convenient access for

    existing customers or to extend their reach into new customer segments. This

    particularly holds true for countries with a mature financial services industry.

    Mobile Money Transfer includes domestic money transfer and international

    remittances delivered where one actor in the value chain uses a mobile phone (e.g.

    mobile to cash or cash to mobile). These services are usually provided by a

    remittance service providers and telco operators, but can also be provided by

    regular financial services organisations. Contrary to mobile banking these services

    are not regularly linked to a bank account, and therefore, dont require a full

    banking relationship.

    Mobile Payments includes proximity payments and remote payments. Proximity

    mobile

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