Mobile Banking International Updates - Dec 22

The Race (For Marketshare) Is On: Commercial Launch of Mobile Banking in Haiti
"And they’re off! Amid endless turmoil – earthquakes, cholera, and political unrest – Haitians finally have some good news. Two mobile banking platforms: TchoTcho by Digicel and T-Cash by Voilà have just launched for commercial use. Relief organizations, NGOs, and government agencies throughout the country have already begun to put the new technology to use. For an economy that has always been cash based, this is a huge leap forward. The public, most of which was previously excluded from banking, has responded enthusiastically."

Fraud and security concerns fail to slow the growth of mobile banking in Africa
"Developing Telecoms recently examined some of the factors that have led to mobile banking’s success across many African markets. Mobile money transfers in particular represent a far more secure alternative to handling devalued currency in a cash economy, and for this reason adoption has been widespread. However, the informality of mobile banking infrastructure in Africa can appear challenging to the developed world, and raises serious questions about the potential impact of fraud in the mobile finance sector."