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> Posted by Juan Blanco, Associate, Financial Inclusion 2020, CFI
Mobile money services have spread like wildfire, making people less cash-reliant and able to easily carry out transactions like bill payments and money transfers. GSMA’s Mobile Money for the Unbanked program identified 14 mobile money sprinters – leaders of some of the fastest growing mobile deployments in the world. Among these, three case studies from mobile money services in Pakistan, Somaliland, and Zimbabwe have been published. The case studies highlight the reasons why these particular schemes have achieved significant customer bases and transactions volumes since their deployments.
Easypaisa (Pakistan). After only 11 months, Easypaisa registered 5 million transactions and by the end of 2012 it had 100 million transactions with a volume of $US 1.4 billion. Easypaisa was created in late 2009 by the MNO Telenor Pakistan and Tameer Bank, after Telenor acquired a 51 percent stake in Tameer. Telenor acknowledged that launching a mobile wallet product wouldn’t be the ideal way to set up Easypaisa since they only had a 22 percent market share and so the product wouldn’t encompass 40 million non-Telenor customers. Furthermore, regulations in the country called for very comprehensive Know-Your-Customer (KYC) procedures, creating the additional obstacles of increased registration cost and time.
> Posted by Joshua Goldstein aka Mr. Provocative
#452198062 / gettyimages.com
Since October, more than 52,000 unaccompanied children, mostly from Honduras, El Salvador, and Guatemala have illegally entered the United States, mostly through the Rio Grande Valley. Until the justice system processes their cases, they’re being held in miserably overcrowded border detention centers, military bases, and other facilities in Texas and elsewhere.
All kinds of reasons are given for this exodus – gang violence, lack of economic opportunity, the perception that under a “liberal president” amnesty will be granted. The policy wonks and talking heads can debate the causes of this humanitarian crisis and assign blame to their hearts’ content. And of course, we have to “study” the situation and make sure that if we allow some of these frightened minors to join family members in the United States, this doesn’t incentivize other youth to risk life and limb to set off on a dangerous journey from their homelands to reach the United States.
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