Mobile money technology changes lives on a daily basis: hear the success stories in Dubai

Published October 28th, 2009 - 07:41 GMT

Mobile Money technology has already revolutionised the way customers pay their bills and companies collect revenue.  Using the mobile phone to make payments can empower millions of people who have no access to a bank accounts to make safe and long distance transactions whilst helping companies to streamline their billing and revenue collection strategies.

 

“Already millions of people in Africa who do not have access to a bank account are using mobile money technology to convert cash into credits on their cell phones in order to make safe and easy payments – in fact, annually already billions of rands in bill payments, payroll etc. are transferred through this method”, says Steve Clarke, director of the upcoming Mobile Money Transfer Global Summit taking place in Dubai from 25-28 October 2009.

 

The growing success of mobile money technology has provided huge business opportunities in developing countries and Africa has led the way in Mobile Money strategic development, particularly South Africa and Eastern Africa with companies such as Safaricom (M-PESA) and Zain (ZAP) being among the top players and innovators.

 

Other success stories hail from seemingly unlikely destinations such as Afghanistan and Cambodia with Roshan and Wing Cambodia making great strides in the roll-out of this alternative payment method.


Mobile Money Transfer Global Summit
Many leading lights in the ever-accelerating world of Mobile Money Technology will be speaking at the upcoming MMT Global Summit taking place in Dubai from 25-28 October 2009. This follows the hugely successful launch of the event last year and will feature presence from the complete mobile money ecosystem with all the key stakeholders represented.

 

Mobile networks will rub shoulders with banks, MFIs and NGOs, 3rd party operators and mWallet vendors (often the same people!), Exchange Houses and the Money Transfer Networks themselves - even governments and regulators. A large scale exhibition featuring 35 booths will showcase the leading mWallet vendors, system integrators and global hubs.

 

Amongst the industry elite speakers telling their success stories from all over the world are:

Jan Chipchase, Principal Scientist, Nokia
Jan Chipchase is a much sought after visionary speaker and is one of the world's foremost experts on the mobile usability, with a particular interest in how mobile phones are used in emerging markets.

Chris Gabriel, CEO, Zain Africa
Live in Kenya and Tanzania, Zain will launch their mobile money service Zap in all 23 countries they cover across the Middle East and Africa. Zap uses a revolutionary agent incentive model.

Gautam Ivatury, Microfinance Specialist, CGAP
The Consultative Group to Assist the Poor CGAP is an independent policy and research center housed at the World Bank. Gautam and his team pioneer research into mobile microfinance.

Brad Jones, Managing Director, Wing Cambodia
Wing Cambodia, a joint venture with ANZ Bank, is a new launch service bringing mobile money to Cambodia, starting with applications such as payroll and micro-entrepreneurial loans

Zouhair Khaliq, CEO, Orascom International Investment Holdings
Zouhair heads Orascom Telecom's Group strategy on Banking, Mobile Financial Services and Infrastructure Sharing. Orascom is one of the world’s leading telecom operators.

Jojo Malolos, Group Head of Financial Services, SMART
SMART are the original mobile money pioneers, having launched over 7 years ago, and they serve millions of customers in The Philippines.

Karim Khoja, CEO, Roshan
Afghanistan's largest mobile network operator and largest employer, Roshan's M-PAISA mobile money service has brought microfinance loans to rural areas in a country with literacy rates of less than 30%.

Cenk Serdar, Director, Mobile Payment Solutions, Vodafone
Vodafone have pioneered the development of M-PESA, with over 6.5 million customers in Kenya, also recently launched in Tanzania.


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