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The Consumer Logic

Today there are more people with a mobile phone than people with a bank account. In fact, there are over 1 billion unbanked people in lower- and middle-income countries around the world who already have access to a mobile phone. This group represents an ideal target market for mobile wallet offerings and a massive opportunity for mobile financial services.

We see the collaboration between operators and banks where each party brings their own unique assets to create a platform for success. Operators provide superior consumer relationships, agent networks and real-time transactions, and banks likewise bring payment and banking skills, a wealth of financial services and access to the larger financial ecosystem.


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The Consumer Stories

In markets with limited access to basic financial services, mobile money - and the use of a mobile wallet in particular - has the potential to make a huge social and economic impact. Here are some common situations where The Consumer Logic can make a difference:

The overseas worker

More than 215 million people live and work outside their country of birth, often doing so to provide for their family back home. But sending money across borders can be complicated and expensive. With mobile wallets and new types of international remittance platforms it could be significantly easier and more affordable.

Service providers who want to create this kind of service will have to join forces with international partners, such as banks, operators and Money Transfer Organizations (MTOs).

The air time top-up

Topping up prepaid accounts can be costly and time consuming in many parts of the world. Operators have an excellent opportunity to integrate a mobile wallet solution with their charging system to make top-ups more affordable and available from any type of phone, anywhere.

The urban family

Family members often need to transfer funds to one another, and cash can be both inconvenient and insecure. Mobile wallets provide a secure and affordable way to send money to family members directly from a mobile phone.

By involving the whole family, service providers have a great opportunity to more easily capture new customers and foster increased customer loyalty.