Mobile Banking

This note summarises the findings of a 3-month project by MicroSave India to clarify prospects for a sound business model for Banking Correspondent operators under the current regulations.

This e-bulletin focuses on the role of e/m-banking in fostering financial inclusion. There is growing consensus that e/m-banking offers a unique opportunity to address mainstream banks’ two major barriers to serving the low-income market: the need for a branch infrastructure and managing high volumes of low value transactions.

There is growing recognition that effectively managing agents is key to the success of e-banking and indeed m-banking systems. There is growing literature on the functioning of agent networks and strategies to get the best out of them. This note examines some of the international experience using the “8Ps of marketing” as a framework – focusing on the first 3Ps: Product, Price and Process.

This note explains about strategies and provides guidance in handling the challenges and issues concerning institutional issues; regulatory & compliance issues; monitoring and feedback from customers and merchants during pilot test and rollout; partnership support and coordination in pilot testing and rolling out mobile phone banking services.