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Review of Digital Financial Services Interoperability in Developing Countries

EPAR TECHNICAL REPORT #313

Tue, 09/08/2015

AUTHORS: Pierre Biscaye, Caitlin Aylward, Sarah Coney, C. Leigh Anderson, Travis Reynolds

Mobile Money Interoperability

ABSTRACT: 

We review the literature on the status of interoperable payment schemes and regulations for financial services (particularly mobile money) in 46 developing countries, and identify examples of countries with interoperable mobile money schemes and/or regulations pertaining to mobile money and/or interoperability. Following a brief introduction to mobile money and interoperability, we present an overview of the status of mobile money in the 46 selected countries. We then review country regulations regarding both mobile money and payment systems as well as the form of these regulations (National Payment Law or Strategy, regulations, guidelines, etc.) for each country. We further discuss mobile money regulations, specifically regulations that pertain to bank-based versus non-bank based mobile money schemes, regulatory safeguards, and agent banking. In the final section we review regulations pertaining to interoperable mobile money services and outline where such regulations have been documented, highlighting countries with interoperable mobile money markets. 

TYPE OF RESEARCH: Literature Review

RESEARCH TOPIC CATEGORY: Technology; Information & Mobile Technology

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