Mobile money refers to financial transactions and services that can be carried out using a mobile device such as a mobile phone or tablet. These services may or may not be linked directly to a bank account. Previously, recharging your mobile meant
adding more airtime but now increasingly you will be able to add money to it, keep all your credit cards and loyalty coupons, access your bank account and use it like your ordinary wallet for payments. Innovations in mobile money could lead to a drastic change in the way people pay for goods and services in the near future.
Part 1 of the report focuses on innovations in the mobile payments landscape, and in particular on NFC contactless mobile payments and the likely impact on future standardization activities.
The second part highlights mobile money transfer and mobile banking services and their link to enabling financial inclusion.
