Author Archives: Sharath Dorbala

Infographic: the impact of MFS loyalty programs on consumer usage

Many MFS providers are grappling with the unyielding challenge of how to accelerate usage and adoption 2-3 years after deploying an MFS solution. Often times, many forget the Pareto Principle –  whereby 80% of your revenue comes from 20% of your loyal customers  Many tend to neglect this key target audience- which can be a gold mine if catered to appropriately. In a recent joint Ovum & Amdocs survey, both consumers and services providers were asked about MFS loyalty programs from their perspectives – the results were surprising. The survey clearly shows MFS providers are missing out- either by not […]  More >>

Focus on Loyalty or Lose

In Game of Thrones, loyalty is frequently earned through conquest, arranged marriages, or fighting with powerful friends. Mobile wallet service providers, on the other hand, don’t have to take such extreme measures to get their customers to “bend the knee.” They can foster loyalty through more socially acceptable means, such as reward points, discounts, or cash back. So why aren’t they doing more to develop customers like Ser Davos Seaworth, the most loyal knight in the seven kingdoms of Westeros? We commissioned Ovum, a leading analyst firm to conduct two parallel surveys and try to better assess where the gaps […]  More >>

How Mobile Remittance Technology Will Ignite Financial Inclusion

How Mobile Remittance Technology Will Ignite Financial InclusionTake a second and imagine a life where you don’t have the luxuries and conveniences that many of us enjoy. You need to work, but you live in a country oversaturated with able bodies and a serious lack of job opportunities. This forces you to travel across national borders to find employment, often for months or years at a time. To complicate things further, your family is back in your home country, dependent on the financial support that you provide. Here’s the vital challenge: how do you send your hard-earned wages back to your family with the confidence that your remittance […]  More >>

What Does 2016 Hold for MFS?

2015 was a landmark year for mobile financial services. Throughout the year, we witnessed unprecedented growth in all areas of MFS, connecting mature markets with the formerly untapped potential in emerging economies through the introduction of digital banks, greater volumes of international transactions, and overall growth in mobile payments. How will 2016 build on the successes and innovations of 2015? Here are our predictions.   Mature Markets Trends Increased NFC Adoption—Mobile wallets like Apple Pay, Samsung Pay, and Android Pay will become more popular. In addition, POS systems will increasingly become equipped with NFC terminals, making payments faster and easier. […]  More >>

The Gigantic Opportunity of Mobile Financial Services in Africa

Meet Bob, a busy professional from New York City who is on his lunch break. Bob takes a stroll to his local coffee shop and pays for his drink with a credit card. He then takes out his iPhone and transfers money to his daughter via the PayPal app. On his way back to the office, Bob realizes his wallet was empty, so he stops at an ATM to withdraw some cash. For the average U.S. citizen, Bob’s story seems fairly simple—but for the 66% unbanked population in Sub-Saharan Africa (SSA), these actions are a luxury. Mobile financial services (MFS) […]  More >>

MFS Opportunities in India – Why Everyone Wants In

Around the world, people are becoming increasingly reliant on mobile technology and are constantly looking for new secure apps that make daily life more convenient. Despite the increased availability of innovative mobile financial services (MFS) technology, people have been slow to shift their focus from standard banking and payment processes to more mobile options. The biggest opportunity for MFS growth is in emerging markets such as India, especially when you consider the fact that 73% of locals in these sectors aren’t using MFS at all. The low adoption rates in emerging markets present a major opportunity for companies offering MFS […]  More >>

How Can Mobile Operators Become the Key to Economic Inclusion?

A recurring topic in the world of mobile financial services is that they could and should be offered to make a difference to the lives of 2 billion unbanked people around the world. By meeting certain challenges, mobile operators could just become the key that will enable financial inclusion and revolutionize the mobile world for a huge segment of the world’s population.  More >>

Why Mobile Money Services Need to Tackle the Security Issue

Mention the word security, and most people associate it with burden and hassle. Extra time spent waiting in line at the airport, or remembering one of the dozens of passwords we keep to protect our accounts. So it’s no surprise that one of the biggest barriers to adopting mobile payments and banking around the world is security.  More >>