More than a third of the world’s population has no access to bank services. However, 5 billion people have a mobile-phone subscription. An m-commerce ecosystem can bridge the gap, bank the unbanked and under-banked, and bring together all relevant stakeholders to provide financial services via the mobile device.
A converged approach to mobile financial services – an m-commerce ecosystem

The m-commerce ecosystem encompasses a large number and wide variety of stakeholders from several industries, each with diverse business goals. These players include agents, operators, banks, money transfer organizations, different types of service provider, as well as internal actors from the operator. Agents provide cash-in/out points for the consumer; and operators and other service providers deliver the m-commerce ecosystem’s functions.

The objective is to create a sustainable m-commerce ecosystem that gives the unbanked and under-banked access to a global payment network and financial services. Each stakeholder can provide key elements of the m-commerce ecosystem so that it is both accessible and widespread.

By combining telecom and financial services into a converged m-commerce ecosystem, network operators can make the most of the open opportunity to provide financial services to the under-served.

A converged approach to mobile financial services – an m-commerce ecosystem