International Mobile Banking Updates - Jan 16

Filling the Gap: Mobile Banking in the Developing World
"In many parts of India and the Philippines, women hide the little money they save under mattresses or in various places throughout the house. That means it’s difficult if not impossible for them to say no when a relative or friend comes looking to “borrow” money. (Plus, the money is not secure or accruing interest). Because banks are often scarce and difficult to access for many people in Asia, a savings account isn’t an option for most, says Julie Peachey, program manager of the microsavings initiative at Grameen Foundation, a nonprofit based in Washington, D.C. and a partner of Qualcomm’s Wireless Reach initiative."

Ethiopia: Mobile Banking Legal At Last
"Without much deviation from its draft state, the long awaited directive that will allow banks and Micro Financial Institutions (MFI) to provide transaction-based mobile and agent banking services was issued, on January 1, 2013. Now clients of banks and MFI's, offering mobile banking services, will be able to make deposits and withdrawals through their mobile phones. They can also make payments to businesses or transfer money to clients using their mobile phones."

New mobile service M-Shwari brings banking to underserved Kenyans
"A little over two months since launching M-Shwari, Safaricom says the mobile microcredit service has performed better than expected, with billions of shillings deposited and loaned out to help small and emerging businesses. Safaricom launched M-Shwari in November in partnership with the Commercial Bank of Africa to provide savings and loan services to the 15 million users registered for its M-PESA service, which allows Kenyans to transfer money via text messaging."

The Netherlands Showcases Europe’s Enthusiasm for Mobile Banking
"Mobile banking has been among the most popular mobile money activities among users, and the Netherlands is one country where that’s more than evident. According to Telecompaper, citing numbers provided by major banks within the country, Dutch broadcaster NOS reports that mobile banking apps users doubled last year. Rabobank and ING each said they served more than 1 million mobile banking customers, while ABN Amro had about 760,000 and 10 percent of SNS Bank’s customers conducted business through its mobile app."