...Enabling Mobile Money Policies in Sri Lanka The Rise of eZ Cash Simone di Castri July 2013 4—5 GSMA — Mobile Money for the Unbanked Creating enabling mobile money policies in Sri Lanka: The rise of eZ Cash Introduction For the Central Bank of Sri Lanka (CBSL), 2012 was the culmination of a 5-year effort to establish an enabling regulatory framework for mobile money that opened the market to both bank and non-bank providers and extended services to Sri Lanka’s unbanked population. Marking this shift was the launch of eZ Cash, a new mobile money service that has signed up over 1 million customers in just one year. eZ Cash is operated by Dialog Axiata PLC (Dialog), a mobile network operator (MNO) that was awarded a licence to operate as a payment services provider following revisions to the central bank’s regulations.1 As Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka, explains, “Achieving financial inclusion through progressive regulation and innovation has been a principal and consistent ethos of the Central Bank of Sri Lanka.” The Sri Lankan case offers important lessons for both regulators and MNOs working to achieve the dual objectives of financial inclusion and economic growth. Lessons for regulators: ■■ ■■ ■■ ■■ ■■ Enabling regulatory frameworks play a fundamental role in expanding the reach and improving the efficiency of the financial sector. Building an inclusive digital financial system requires a level playing field...
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...all to minimize poverty By: Carlos Mbingo Maundu REG NO. 111/04937 Date:14-10-2014 1. Problem Statement The purpose of this report is to identify the effect that M-Pesa has on the living standards of the people living in Kenya 2. Justification of the study One may expect alternative money transfer methods of different money channeling systems to differ in their efficacy in achieving different goals. Several reports have suggested that since the inception of mobile money transfer, poverty has significantly dropped in Kenya. This findings needed to be carefully interpreted and the accompanying prove of the statement justified. The establishment of M-Pesa in Kenya has usually been regarded as the best means of ensuring that the of Safaricom subscribers can easily transfer money safely from their mobile gadget to another and also carry out transactions like payment of bills electronically. The review of available literature also does not give a precise arid uniform picture about the performance of M-Pesa system in minimizing poverty relative to other money channeling systems. The current state of knowledge about the structure and performance of alternative forms money channeling systems in Kenya thus clearly warrants further investigations, and it was against this background that the present study was undertaken. 3. Hypothesis The basic hypothesis is that poverty can be significantly lowered by increasing the use of M-Pesa services within Kenya. 4. Objectives...
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...INTRODUCTION The present specifications concern the supply, the installation and the launch of a Mcommerce system enriched with value added services, such as direct money transfer, mbanking, m-payment, etc., through the Operator network in partnership based on a model of revenue sharing which will be approved by all the signatory parties. 2. PROFILE At present the Operator operates on bands of 900 and 1800MHz with approximately 300 000 subscribers distributed on the whole of the national territory. The Internet network counts more than 6 000 subscribers. We also specialize in the development of Internet contents in particular the creation and the hosting of Websites, messaging, storage of data and supply of sub-domains. We are now constructing more sites to cover 70 % of the territory with GSM network and to develop value-added services to meet the expectations of growing populations. 3. FEATURES The implementation of this system aims at supplying the following features: a) creation and management of electronic wallet with all the access channels (STK, SMS, Web, USSD) b) Payment of airtime by using the electronic wallet. c) transfer of money between accounts by OTA / SMS / WEB / USSD d) Payment of invoices (electricity, water, etc.) e) Use of Mobile banking: Management of banking systems by use of mobile f) System of commission and discount to retailers g) Use of online...
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...IMPACT OF MOBILE MONEY SERVICES ON THE PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN AN URBAN TOWN IN KENYA BY KENNETH M. NYAGA A DISSERTATION SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTER OF BUSINESS ADMINISTRATION (CORPORATE MANAGEMENT) IN THE SCHOOL OF BUSINESS AND PUBLIC MANAGEMENT AT KCA UNIVERSITY NOVEMBER, 2013 DECLARATION I declare that this dissertation is my original work and has not been previously published or submitted anywhere for award of a degree. I also declare that this contains no material written or published by other people except where due reference is made and author duly acknowledged. Student Name: ______________________ Sign: __________________________ Registration Number: ________________ Date: ___________________ I do hereby confirm that I have examined the master’s dissertation of: Kenneth Miriti Nyaga And have certified that all revisions that the dissertation panel and examiners recommended have been adequately addressed. Signed _______________________________ Date ___________________ Dr. Okonga-Wabuyabo, Brigitte M. Dissertation Supervisor ii ABSTRACT Since the launch of mobile money services in Kenya in 2007, the number of subscriptions has grown to approximately 48% of entire the Kenyan population. This overwhelming uptake has been attributed to the affordability and accessibility of the service, especially among low income earners. The main challenges of mobile money technology...
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...UNIVERSITY OF NAIROBISCHOOL OF BUSINESSTHE IMPACT OF MOBILE MONEY SYSTEM INNOVATION ON THE SAVINGS LEVEL OF LOW AND MIDDLE INCOME EARNERS IN KENYABY MASILA JOSHUA MULI D33/32510/2010 VIRGINIA NYAKIO WAIRIMU D33/20134/2009 DECIMA AKOTH OYUKE D33/32014/2010| MUTINDA ELIZABETH MUMBUA D33/32196/2010| | | | | A Research Project Submitted in Partial Fulfillment of the Requirements of the Award of the Degree of Bachelor of Commerce 2013 Table of Contents INTRODUCTION 2 1.1 Background of the study 2 1.2 Problem statement 4 1.3 Objectives of the study 6 1.4 Significance of the study 6 LITERATURE REVIEW 7 2.1 Introduction 7 2.2.2 Buffer stock model 10 2.2.3 Institutional theories 10 2.3.1 Income and savings 11 2.3.2 Reasons for savings 12 2.3.3 Precautionary/emergency reasons 12 2.3.4 Household reasons: 13 2.3.6 The need to save 15 2.3.7 The population structure 16 Methodological review 20 2.6 Summary 21 RESEARCH METHODOLOGY 22 3.1 Introduction 22 3.2 Research Design 22 3.3 Research population 22 3.4 Data Collection 23 3.5 Validity test and reliability test 23 3.6 Data analysis and Presentation 24 DATA ANALYSIS & PRESENTATION OF FINDINGS 26 4.1 Introduction 26 SUMMARY, CONCLUSION AND RECOMMENDATIONS 35 5.1 Summary 35 5.2 Conclusion 36 5.3 Policy Recommendations………………………………………………………………………….37 5.4 Limitations of the study …………………………………………………………………………...
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...UNIVERSITY OF CAPECOAST COLLEGE OF DISTANCE EDUCATION (CoDE) MASTER OF BUSINESS ADMINISTRATION MANAGEMENT INFORMATION SYSTEMS GROUP ASSIGNMENT GROUP MEMBERS: 1. CLEMENT NGISSAH SB/DMK/14/0008 2. JOSHUA ACKAH SB/DMK/14/0007 3. ELIZABETH BAAPA BUAH SB/DMK/14/0012 4. EZEKIEL ARTHUR MENDS SB/DMK/14/0002 5. NATHANIEL DUAH ADJEI SB/DMK/14/0003 6. FREDRICK A. ASIEDU SB/DMK/14/0010 CASE STUDY MONITORING EMPLOYEES ON NETWORKS: UNETHICAL OR GOOD BUSINESS?. LAUDEN & LAUDEN (2014), PAGE 296-7 Question 1. Should managers monitor employee e-mail and internet usage? Why or Why not? Employee email and Internet usage monitoring in the workplace may put employers and employees in conflict because both sides are trying to protect personal interests. Employees want to maintain their personal privacy while employers want to ensure company resources are not misused. Employers monitor Internet use in the workplace to protect their companies from legal problems that could arise if employees use company computers for inappropriate or illegal online activities, such as racist, sexually explicit or other potentially offensive materials accessed or traded by their employees which could result in adverse publicity. They are also concerned about a decline in productivity as some workers use the Internet to handle personal activities such as checking personal email, responding to instant messages or sneaking in...
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...immensely over the past century, we now use cards, computers, and even mobile phones to pay for everything from our morning coffee to a taxi cab. Yes, technology is changing drastically, but what does it have to do with "the death of cash?" In this research paper I will define what is meant by "the death of cash," how studies show this may take place, and reasons why it may or may not be a good idea. Cash has been on the decline for a while. Bills, health insurance, rent and most day to day necessities are most likely not being paid by cash, ever since the making of credit/debit cards and the invention of e-payments.The way we bank is changing everyday thanks to online technology and smartphones. Most banks now allow you to transfer money and pay bills online. Some have systems that allow you to deposit funds with just a picture. And some allow you to swipe your phone over a reader in order to pay a cashier.As people become more comfortable paying with credit cards and electronic payment options, cash will become less important, hints the quote, "the death of cash." The Death of Cash article talks about an up and coming Company by the name of Square. Square is, as it says on their website, the easiest way to get paid, and to pay. Some of Square's products are the Square Card Reader, Square Register and the Pay with Square app. The Square Card Reader allows you to accept credit cards using your mobile device. The Square Register app allows you to accept credit card payments...
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...can now open a UBL Omni bank account at any UBL Omni Dukaan of their choice, whether close to their home or place of work, by using their CNIC number and mobile phone number - their mobile phone number will effectively become their bank account number irrespective of which service provider they use. UBL Omni account holder will subsequently be able to deposit and withdraw cash, make utility bill payments, send or receive money, purchase mobile card vouchers, make postpaid mobile bill payment and much more by using diversified array of convenient channels which includes UBL Netbanking/ WAP, SMS, Contact Centre or ATM. No longer will they have to visit a bank branch to conduct their basic banking transactions nor will they be limited by standard banking hours. People without a UBL Omni bank account will also be entertained at a UBL Omni Dukaan where they can make utility bill payments, send or receive money, purchase mobile card vouchers and make postpaid mobile bill payments. Bills Payment Why stand in long queues or worry about payment of utility/mobile bills when you can pay your utility/mobile bills anytime at conveniently located UBL Omni Dukaan. Just visit any UBL Omni Dukaan to pay your utility/mobile bills instantly without any additional charges. You can pay utility/mobile bills of Registered Utility/Mobile Companies How to Pay Utility Bill at UBL Omni Dukaan? • Visits UBL Omni Dukaan for utility bill payment •...
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...Immediate Payment Service (IMPS): Introduction IMPS is a service provided by Indian banks to their customers to help them carry out interbank funds transfers in real-time. Customers do not need to wait for the bank to open to transfer money and are free to transfer funds on weekends, holidays or weekdays. The terms of service may be slightly different from one bank to another. The maximum amount that the customers can transfer using IMPS is Rs. 2 lakh. Here are a few ways people can use IMPS: • Transfer funds • Receive payments • Carry out mobile banking transactions • Make merchant payments • Search Aadhaar Seeding status with the bank account IMPS Transaction Charges Banks levy fees on each IMPS transaction. The rate may vary slightly...
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...will evaluate the benefits realized by consumers because of the ability to gain access to their own data via mobile applications, discuss some of the benefits and how they affect consumers, and finally, I will also compare how consumers conducted themselves prior to these mobile applications. Some of the benefits that are realized are convenience and portability of the information such as email, web services, and account information. It allows people to expand the work and recreational spaces in which they can operate. Consumers are no longer tied to a desk or office because of these services. Mobile applications have matured in such a manner that office space may soon be a thing of the past. “Potential Wireless Internet customers may only need to be made aware that these services can be delivered via high-speed wireless data communication services to convert them from the traditional wired (e.g., Internet access) to new wireless services” (Kikta, Fisher, & Courtney, 2002). With these expanded capabilities people are now able to telecommute (work from home or other locations). Being able to view bank account data prior to making a purchase could potentially save money by not incurring overdraft charges, documentation can be processed or shared from anywhere with mobile devices, and communication can remain constant. In addition, some consumers can utilize mobile applications to pay bills online which saves the environment by reducing global warming (no fueled vehicle...
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...Web or Mobile Application Paper Connie Santos CIS319 June 17, 2013 Robert Juszynski Web or Mobile Application Paper JP Morgan Chase Mobile Bank application is one of the most important applications I have in my iPhone. Chase has created a new way of banking with their application. It is user friendly, it offers amazing capabilities, it is a time and money saver, and it has room for improvement. Chase has brought banking into our hands. The purpose of the application is to make banking for their customers stress-free. With this application customers can deposit checks from their iPhone, iPad, iPod touch, Android, Kindle Fire, and Windows Phone. All they do is input the amount of the check, take a front and back picture of the check and click submit. Customers can also view their banking and credit card balances and transaction history. Customers can transfer money between Chase and non-Chase accounts, in different ways. They offer Transfer Money, Wire Transfer, and Chase QuickPay. I just used the QuickPay feature today. My little sister bought my tickets to Lollapalooza so I paid her back through QuickPay. In order for the money to get deposit to her account, we both have to enrolled in the Person-to-Person QuickPay. Once we both signed up, I type her e-mail or phone number and the amount to transfer and submit it. Once sent, she approves the transaction, and it is complete. I am also able to pay bills with the application. This feature is truly helpful; I set up...
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...How Blind People Identify Paper Money Submitted by Tom on Wed, 02/17/2010 - 09:17 accessibility Blind Money Technology Before you pay for a movie ticket or for a new pair of shoes, you would always make sure you’re handing the seller the right amount. This is really simple, you just have to give a quick look at your money, take out the right amount, and that's it. But for people who cannot see, this becomes a difficult task. Here, we will talk about the problem faced by blind people, and discuss the possible solutions for this issue. The Problem with Paper Money In countries such as the U.S., all denominations of money have similar sizes. This makes it very difficult for blind people to distinguish one denomination from another. Solutions Done By Governments Governments have devised a way to help the blind tell apart different money denominations. In countries such as Australia and Malaysia, each denomination of money has a distinct width and length. Along with this, blind people can use a small card device to quickly measure and distinguish money. Meanwhile, a more specific approach has been done by the Canadian government. In Canada, money is being produced such that there are Braille dots in the bills that represent a specific denomination. Blind people can in turn find the corner containing the Braille dots and read them to know the amount they are holding. Solutions Done By Blind People The above steps made by governments...
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...transfer of funds, there has always been a way for one person to give money to another. However, all of these methods are cumbersome, and require either a physical activity (writing a check or completing a wire transfer), or exchanging physical currency. This complicates the process, requiring two people to meet in person, one to have physical currency (or to have and write a check), and then the eventual deposit of the recipient’s funds into a bank account. However, with the rise of the internet and the proliferation of smartphones, a major innovation has been made in the way that people exchange money. To clarify, this is not talking about a person paying an established business, but rather paying someone for babysitting, mowing a lawn, splitting the cost of gas, or paying back a friend for a meal. This innovation is Image from WashingtonPost.com Image from WashingtonPost.com known as peer-to-peer payment systems. The need for a quick, easy way to pay someone, split a bill, share utilities payments, or contribute to a fundraiser became apparent in a society that carries less and less cash. Most millenialls do not even carry cash on their person anymore, and thus, if they needed to pay a friend, it would require a trip to the ATM, a drive to the meet the other friend, and then for that friend to deposit those funds. The mobile application marketplace created various applications that allow users to send money to a friend, relative or family member with the ease and simplicity...
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...could only take cash as they got back into their car. Now normally I pay for gas at the pump with a credit card even though I usually have cash on me, mainly because I do not have to deal with pre-paying and guessing how much gas I need, and I prefer to pump my gas and go about my day with a minimum of human interaction. This is a phenomena getting more and more common throughout a world where currency and coinage are quickly becoming items that people no longer carry as their primary instrument of payment and businesses would rather not accept. We all want a quantifiable measurement for what our wealth is but don’t really care if it is in actually hard currency or just expressed in the zeros and ones in the digital world. Call the money a Dollar, Euro, Pound, Deutschmark or any other name you want as long as we know, on paper, we have an amount of them is all we care about. Why have currency and checks become less and less important as a form of payment when they were once responsible for 100 percent of all payments? The answer is the rise of the credit/debit card and the advancement of technology. Some countries are more ahead in adoption of cashless options. Examples are Sweden, where physical currency makes up just 3 percent of the nation’s total supply (Newman) and our neighbor to the north, Canada, which is experimenting with ways to get rid of currency...
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...CURRICULUM VITAE PERSONAL DETAILS NAME ASARE FRANK NYANTAKYI DATE OF BIRTH 30TH DECMBER 1979 PLACE OF BIRTH KUMASI NATIONALITY GHANAIAN RELIGION CHRISTIAN MARITAL STATUS SINGLE LANGUAGE ENGLISH, TWI ADDRESS P.O.BOX WJ 920. WEIJA, ACCRA. MOBILE NO. 0207523915. E-MAIL fasare@ecobank.com HOBBIES READING, SPORTS, MUSIC EDUCATIONAL BACKGROUND INSTITUTION CERTIFICATE YEAR 1. IPE Management School- Bachelor of Business Administration 2013-2015 Paris 2. Accra Polytechnic Higher National Diploma (HND) 2002-2005 Mechanical Engineering (Plant Option) 3. Armed Forces 1994-1997 Secondary Technical School Senior Secondary School ...
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