Mobile Money’s Qualified Success – An Alternative Look at the Numbers
The mobile financial services (MFS) industry is over 12 years old. Yet, outside of a handful of a few well-publicised success stories in East Africa, mobile money’s success has been limited. The risk for the industry (and for the unbanked) is that mobile operators no longer see the value in continuing to offer these services, stop investing and ultimately wind their MFS units down.
But it doesn’t have to be this way. Here at Digital Baobab we have seen a number of MFS product launches and believe that industry participants would benefit by focusing more attention on their Digital Product Innovation and also their Digital Product Marketing. This applies as much to expanding their footprint into mCommerce as it does expanding the MFS ecosystem.
We will examine these areas more closely in our next blog, but in the meantime take a look at our infographic for an alternative look at the industry’s success statistics. They are intended to be slightly controversial with the intent of sparking dialogue. So let us know what you think.