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Mobile Financial Services
- Banking is complicated. There are thousands of banks, and once you select one, disclosures and fine print can confuse even the most experienced consumer. And then there’s the rates and fees …
- MobiCash provides a SINGLE CASHLESS PLATFORM spanning multiple payment channels and authentication mechanisms, enabling payment transactions process with Speed, Affordability and high level of Confidence and Security.
- Mobile Financial Services is an approach to offering financial services that combines banking with
mobile wireless networks which enables users to execute banking transactions.
- This means the ability to make deposits, withdraw, andto send or receive funds from a mobile account.
- Often these services are enabled by the use of bank agents that allow mobile account holders
to transact at independent agent locations outside of bank branches.
- Banking beyond branches uses agents or other third-party intermediaries as the primary point of contact with customers and relies on technologies such as card-reading point-of-sale (POS) terminals and mobile phones to transmit transaction details. Why is banking beyond branches important?
- Its reliance on existing technology, infrastructure, and retail establishments has significant potential to lower the costs of delivery and reach financially excluded households that cannot be served profitably with conventional bank branches, especially in remote and sparsely populated areas.