Category Archives: Banking

Mobile Money in South Africa: The nature of the beast by Flo Mosoane

The 2015 State Of The Industry Report (SOTIR) for Mobile Money published by GSMA, reveals a picture of a service that continues to change the landscape of financial inclusion in developing and poor countries across the globe. In December of 2015, the industry processed transactions in excess of a billion, most of which were in […]

Also posted in Africa, African Consumer Market, Airtime, Alternative currency, Analysis, Assumption filter, Base of the Pyramid, Business Models, Cashless transactions, Consumer Behaviour, Design, Ecosystem, Emerging Markets, Mobile platform, Platforms, Prepaid Economy & Informal Sector, Research, Savings, South Africa, Strategy, Sub Saharan Africa, Technology, User research | Tagged , , , | Leave a comment

Design of Digital Financial Services for Inclusion Needs More Respect and Humility to Succeed

In the past week alone, I’ve seen three glaring cases of unquestioned assumptions around the design and implementation of Digital Financial Service (DFS) particularly for financial inclusion, but also otherwise. This gives rise to the question whether the industry is prepared to undertake the mission they have set for themselves. The first is that their […]

Also posted in Africa, Airtime, Alternative currency, Assumption filter, Cashless transactions, Consumer Behaviour, Design, Emerging Markets, Kenya, Mobile platform, Perspective, Prepaid Economy & Informal Sector, Technology, User research | Tagged , , , , , , , , , | Leave a comment

The 5C’s of Cashless

The Reserve Bank of India has unveiled their Vision 2018, an ambitious plan to shove the juggernaut into a cashless future. Here are their pithy yet to the point 5C’s, which focus the framework on a set of objectives. Coverage – by enabling wider access to a variety of electronic payment services Convenience – by […]

Also posted in Cashless transactions, Design, Economy, Ecosystem, Frameworks, India, Innovation Planning, Mobile platform, Prepaid Economy & Informal Sector, Research, Strategy, Systems, Technology | Tagged , , , , , | Leave a comment

Mpesa takes on Banks with Mobile wallet linked Prepaid Card

On June 10th, Kenya’s leading mobile payments platform, Mpesa, announced it was piloting a Lipa na Mpesa prepaid card linked to mobile wallets. The card is an interesting product in a Kenya’s payment market turf wars. Banks versus a dominant Telcos, Safaricom. According to Techweez, “The card, mirrors a user’s M-Pesa account, meaning whatever amounts […]

Also posted in Kenya, Mobile platform, Sub Saharan Africa, Technology | Tagged , , , , | Leave a comment

Untapped opportunities in Francophone Africa for design of apps and smartphone solutions

Bacely Yorubi frames the opportunity space for local app design and development in The Toronto Star: “Lots of young Africans who’ve studied elsewhere and returned home have expectations of mobile services that don’t yet exist,” said Bacely Yorobi, an app developer from Ivory Coast. “So they’re the ones coding and putting new African-made apps out […]

Also posted in Africa, Afrique francophone, Analysis, Assumption filter, Business Models, CEMAC, Commerce en ligne (e-commerce), Compétitivité, Consommateurs, Design, Ecosystem, Emerging Markets, Innovation Planning, Marchés africains, Mobile platform, Perspective, Platforms, Senegal, Strategy, Technologie, UEMOA | Tagged , , , , | Leave a comment

Customer-Centric Business Model Design for Financial Inclusion

The Challenge Digital financial services (DFS) seek to bridge the chasm between the structures, policies and institutions of the formal economy, and the cash intensive informal and rural economy. Current day approaches tend to take the perspective of the service providers when assessing the market opportunity and the needs of the intended customers. And so […]

Also posted in Africa, Airtime, Alternative currency, Assumption filter, Business Models, Cashless transactions, Consumer Behaviour, Design, Ecosystem, Frameworks, Innovation Planning, Mobile platform, Platforms, Prepaid Economy & Informal Sector, Process, Research, Systems, Technology, User research | Tagged , , , , , , , , , , | Leave a comment

First world trends: Financial inclusion, the unbanked, and the prepaid business model

The Economist explains just how expensive banking can be for the lower income population, even in the United States. Financial inclusion for the unbanked and underbanked must include cost/benefit analysis based on the limitations of income streams of those whom they hope to serve. The cost of ownership is often overlooked in current day literature, […]

Also posted in Analysis, Assumption filter, Business Models, Consumer Behaviour, Economy, Expenses, Flexibility, Income, Innovation Planning, Marketing, Perspective, Prepaid Economy & Informal Sector, urban | Tagged , , , , , , , , , , | Leave a comment

Uncertainty and The Prepaid Economy: Time and Money

Uncertainty characterizes the entire global Prepaid Economy and is the underlying driver for decision making. Systems are unreliable Inadequate infrastructure, variability in basic services (will we have electricity this morning?), obsolete or incomplete systems; all of these, and more, are part and parcel of life in the emerging regions of the world. Will we wake […]

Also posted in Airtime, Alternative currency, Business Models, Cashless transactions, Consumer Behaviour, Culture, Economy, Ecosystem, Emerging Markets, Flexibility, Frameworks, global, Income, Mobile platform, Perspective, Prepaid Economy & Informal Sector, South Africa, User research | Tagged , , , , , | Leave a comment

3 Myths of Financial Inclusion

This article has been co-authored with Michael Kimani @pesa_africa Banking the unbanked is very popular right now, as financial inclusion is seen as a key milestone on the path to development. In parallel, a plethora of “cashless” or “cash lite” solutions have begun permeating the cash intensive informal economy. These can be broadly described as […]

Also posted in Alternative currency, Analysis, Assumption filter, Base of the Pyramid, Consumer Behaviour, Culture, Economy, Ecosystem, Indigenous & Traditional, Informal & Flexible, Mama Biashara, Mobile platform, Prepaid Economy & Informal Sector, Research, Rural Economy, Savings, Strategy, Systems, User research | Tagged , , , , , | Leave a comment

Purchasing Patterns in Cash Based Markets and Informal Economy

When cash flow is irregular and not always unpredictable, both in amount and frequency, such as it is for the majority earning a living in the informal economy, buyer behavior is not quite the same as for mainstream consumers with access to credit cards and regular paychecks. I’ve quite often made reference to how operating primarily […]

Also posted in African Consumer Market, Base of the Pyramid, Cashless transactions, Consumer Behaviour, Mama Biashara, Perspective, Prepaid Economy & Informal Sector, Research, Retail in Africa, Sub Saharan Africa, User research | Tagged , , , , , , , , , | Leave a comment