fintech bestie

Is the Financial Services Industry the Friend or Foe of MFS? (Hint: Think Bestie)

Mobile financial services are gaining traction. According to the GSMA 2015 State of the Industry: Mobile Money report, mobile money is reaching more than 411 million people globally. Moreover, it is available in 85% of countries where the vast majority of the population lacks access to a formal financial institution. This in itself is good news for all stakeholders in the MFS ecosystem: banks, telcos, policy makers, technology partners and NGOs. FinTech is a main driver of MFS since it enables the convergence of financial services and telecommunications. Mobile operators and FinTech companies active in the financial services industry are […]  More >>
Africa MFS

The 5 Main MFS Game Changers in Africa

The impact of mobile financial services in Africa extends far beyond financial; it also has a positive socio-economic ripple effect. Particularly in African countries, digital money enables individuals and institutions to transfer funds instantly and securely without the need for a middleman. It also drives international commerce, supports financial inclusion, and changes the way people shop, handle savings and conduct business. Here are five permanent ways that mobile financial services are shaping and changing life in Africa. Building a bright new financial future for Africa’s unbanked Mobile money offers the underbanked and unbanked access to financial services that were previously […]  More >>
B2B2C

B2B2C and Banking-as-a-Platform – Finding the New Frontier for CSPs and Retailers

With the year-over-year increase in active mobile money accounts and the monthly value of total mobile money transactions in developing markets reaching US $19 billion at the end of 2015, one would expect this would translate into a thriving ecosystem of use cases and accelerated digitization. Yet this is not happening. Today, the retailer ecosystem is a closed top-down system with nearly 60% of transactions being cash-in and cash-out (CICO) and funds being transferred between the depositing and withdrawing parties (P2P).  This means that although MFS is evolving, it is not expanding, since the use cases remain the same. However, […]  More >>
plastic is the companion opening world of opportunity

Why Companion Cards Are the MFS Industry’s Blue Ocean

Companion cards (debit or prepaid cards that are tied to a mobile money account) are the “blue ocean” of the MFS market, since they not only help diversify the use cases offered in mobile money but also help ensure that the money continues to circulate within the mobile money ecosystem. The latter is especially important, since currently 90% of transactions are P2P and cash in cash out (CICO) leaving a whole ocean of untapped MFS open to be conquered. As a result, the ecosystem is static and although MFS are growing in volume, they are hardly expanding since only a […]  More >>
Edson Paiva, VP Sales CALA, accepts award from journalist Miriam Aquino

Amdocs’ MFS Solution Takes First Prize in the Prestigious Tele.Síntese 2016 Award Ceremony

On September 26, Amdocs won first place in the Prêmio Tele.Síntese 2016, the prestigious Annual Innovation Award ceremony organized by Tele.Síntese. During the ceremony, which was attended by entrepreneurs, policy makers and opinion leaders in the industry, 20 winners were honored in 6 categories: service communication service providers, regional operators, providers of software and services, product providers, apps and content developers, and national technology. Amdocs won first prize in the category suppliers of software and services. Edson Paiva, VP Sales CALA at Amdocs, accepted the award from journalist Miriam Aquino, Director of Momento Editorial. (Momento Editorial is the owner of […]  More >>
shutterstock_405313117

2017 Trends: The Synthesis of Mobile and Digital Technology

According to the latest proximity mobile payments forecast from eMarketer, the total value of mobile payment transactions in the US will grow 210% in 2016, as advances in digital technology fuel the rise in the number of people using their phones to pay for goods and services at the point of sale. These advances are altering the way business is done around the globe, and are making it crucial for mobile payment providers to not only track, but also adapt to what’s trending within mobile and digital technology. Here are three particular digital trends set to transform mobile financial services […]  More >>
tokenization transfer

Building a bright new Tokenized future for MFS

Users of mobile financial services are getting more and more sophisticated, resulting in a growing demand for a seamless and connected omni-channel shopping experience. They also want to be sure that their digital payment experience is secure and not vulnerable to hacks. With cyberattacks becoming more and more sophisticated and prevalent, tokenization has become key in payment data security. To protect consumers’ accounts from fraud, tokenization has become the latest weapon to secure card free and frictionless payments in online and mobile commerce environments. Mobile wallets have become the epicenter of all connected devices. By utilizing tokenization technologies, sensitive data […]  More >>
Fast pace of technology is driving innovation in your wallet

New Technology Innovations Impacting MFS Success

As a MFS provider, you operate in a fast-changing world. New technologies, trends, socio-economic and regulatory changes – they all shape and impact the customer experience that your end users will have when they utilize mobile financial services. Fast-moving technologies are driving the convergence of retail, mobile and telecom, allowing telcos to offer their customers more flexible yet cost effective means to transact via their mobile phone. According to KPMG, mobile technologies can cut the cost of financial transactions by up to 80 percent, which will help MFS providers to onboard new customers. Let’s explore three new innovation-driven developments in […]  More >>
MFS Keys elements

3 key elements to drive long term commercial success, scale and profitability with MFS

Many MFS providers struggle to bring their mobile payment solution to the next level in order to grow adoption and increase profitability. However, they find that growth and profitability are hampered by their current MFS platform’s inability to scale to meet their market and customers’ evolving needs. This prevents them from enhancing their solution to incorporate broader, more innovative use cases that will extend their user base and drive their current and future profitability. To understand what drives scalability in MFS, and whether it is different than scalability across other domains, it is crucial to dissect the MFS key business […]  More >>
road to growth

The Road to Growth – Key insights on MFS growth for mobile money providers

As the global mobile financial services deployment count nears close to 300 mobile money deployments, 33 million transactions processed daily and 12 billion processed annually – the industry continues to show great promise and great potential to be profitable. Providers are anticipating and expecting to reap great benefit from their deployments due to combination of direct fee revenues and indirect benefits that they may earn via this channel (churn reduction and lower airtime-sales-channel costs being the most significant). For those providers that have initially set up their mobile money solution and are not yet seeing their success come to fruition, […]  More >>