GSMA has invited Bharti Telesoft, the leading provider of integrated VAS solutions for mobile operators in emerging markets to be a founding member of the Mobile Money for the Unbanked (MMU) Working Group.
The GSMA launched the Mobile Money for the Unbanked Programme and the MMU Working Group at the Mobile World Congress in Barcelona. The MMU unites industry players with a view to sharing learnings from the market, educating the market regarding the opportunities for mobile banking, and supporting mobile money deployments targeting the unbanked.
The MMU aims to enable 20 million unbanked consumers to have access to financial services by 2011 and is particularly focused on delivering mobile financial services to people with incomes of under US$2.00 a day.
The correlation between mobile communications and economic growth is undisputed with various studies from the World Bank and ITU showing that growth in the penetration of mobile communications leads to growth in GDP. Access to formal financial institutions for the unbanked should also spur economic well-being. A further aim of the MMU is to ensure mobile money is a mainstream service delivered by mobile operators and drive down the costs of financial services delivered over the mobile.
Anil Gajwani, CTO and EVP mCommerce, Bharti Telesoft, said, Bharti Telesoft works closely with operators in emerging markets and is a keen proponent of the positive impact that mobile money services can have on the unbanked community. We are committed to extending mobile money services to unserved segments and supporting the enrichment of lives and economic and social well-being with mobile solutions.
|
