Somalialand is the latest large-scale mobile money adopter. Launched in 2009 by mobile network operator Telesom, Zaad is being used for everything from livestock trade to retail, payment education fees to utility bills.
It's Time for Open Money
The freedom to send, spend and receive money with a mobile phone is quickly becoming an essential part of life for billions of people. It's a cornerstone of the Networked Society, a strong driver of ubiquitous access to mobile money, and a great business opportunity. It also calls for change. A change where existing payment networks are connected and interoperable.
We drive this change of making money more open by developing secure, flexible m-commerce platforms that help build an interconnected and transparent financial ecosystem.
We believe that when money is open, everyone will benefit.
The Call for Change Blog
While the global consumption of online media is exploding, buying media content through a smartphone remains a complicated procedure. Without simple digital payment tools, consumers can’t access services and content owners without access to important markets.
The global m-commerce industry continues to develop rapidly, driven by consumer needs, expectations and convenience. Mobile network operators can play a central role in the m-commerce value chain but targeted regulatory guidance is key.
Africa was an early adopter of mobile financial services and today supports a thriving ecosystem with hundreds of deployments complete or underway. As m-commerce initiatives evolve, the market is expanding far beyond payments and transactions.
Bill Gates’ blog post Inclusion Through Technology, really hits the nail on the head when it comes to the potential of mobile technology to empower India’s poorest and offer them a path towards financial inclusion.