34. Some services are offered primarily “over-the-counter” (OTC), rather than the user transacting via their mobile money account. In this scenario, a mobile money agent performs transactions on behalf of the customer, who does not need to register to use the mobile money service. This may happen formally, as a deliberate commercial strategy employed by the mobile money provider, or informally, driven by a myriad of supply and demand-side factors. “Direct deposits” are a sub-set of informal OTC. A direct deposit refers to a money transfer that is conducted by cashing-in directly to the account of the recipient, circumventing the intended flow of a P2P transfer. Customers or agents may see an incentive to cheat the system, or simply prefer the fewer steps involved to transfer funds. This is the type of OTC many mobile money deployments around the globe have experienced. MicroSave has recently analysed this type of OTC in Uganda, highlighting its impact on the business case for mobile operators.
set allocation. They hold a dominant position in developing mobilefinancialservices, which, by far, have been provided by over 20 banks. For financialservices, the dependence upon outlets can also be reduced by the in- ternet. Many commercial banks are now attracted to the mobile finance industry for they have seen the great market demand due to the simplified process and lower cost. With the mobile communication terminals in the era of 4G, internet players have found new ways in fierce competition. However, there are also a lot of interfe- rences on the way of deepening financial transformation. For commercial banks under such profoundly changing economic behavior mode, how to eliminate interference of the internet industry, promote the development of mobile finance by advantage of the internet, enhance their core competitiveness and hold their market position has now become important issue concerned by both financial and academic circles.
Access channels are a critical dimension in ensuring a competitive MFS market. Here, we consider the importance of the main channels and their pricing in Kenya and Tanzania, as well as how this can undermine competition. Important implications for regulation are explored. In the market for MFS, financial institutions are customers of, and competitors to, mobile network operators (MNOs). This creates a fundamental conflict of interest, because MNOs control access to the mobile network and have sufficient incentive to restrict access to competitors. There are several potential adverse consequences for competition that may arise from restrictions in channel access (Hanouch & Chen, 2015; Mas & Staley, 2014; Mazer & Rowan, 2015), including potential foreclosure of the market to providers competing in the same space as the MNOs, constituting a barrier to entry; product range in the market may consequently be limited; there is limited scope for innovation by firms with potentially high-value and high-demand products and services, who cannot use prevailing access channels to serve potential customers; high costs may be passed through to consumers in the form of increased prices, due to the cost of channel access.
the needs of low-income, unbanked populations – such as the Mzansi account in South Africa – confirms the huge demand for entry-level formal financial products among the low-income market. However, in the case of the Mzansi account, the experience so far suggests a growing proportion of its users who belong to those ‗currently banked‘ (and not those who are ‗unbanked‘), when comparing the profile of users between the launch year (2004) and the end of 2008. A recent study also points out that while a total of 6 million new accounts have been opened – of which two-thirds cover those who have never had a bank account before – 42% of the accounts opened have actually become inactive and were eventually closed, indicating that the product does not seem to meet entirely the needs and wants of the target market. In the same study, it was shown that while expectations of the participating banks on the take-up of the new product have been exceeded, the revenue generated per Mzansi account and account balances were substantially lower than the banks‘ other equivalent accounts. Interestingly, the banks reported that they lost money on each account (even considering only direct costs). See Bankable Frontiers Associates (2009).
EcoCash therefore took a holistic approach to their retail solution specifically meant to address this local context. They seeded the POS market by purchasing 10,000 POS devices which used transaction processing technology that alleviated the speed concerns, were able to print receipts, and could function via SMS for rural locations without data coverage. For smaller merchants, where a POS device was not economical, EcoCash developed a mobile-only solution. These devices were then effectively leased to retailers at flexible rates based on their transaction volumes, eliminating the upfront capital cost, and with rates which were affordable to merchants of all sizes. EcoCash also created a separate corporate entity, Transaction Payment Solutions (TPS), which would be responsible for providing support for the POS devices and was designed to alleviate merchant concerns about potential operational problems with the devices. This support could include training merchants, setting up devices, or providing ongoing maintenance. Finally, EcoCash is actively promoting the service to consumers, and spent $600,000,000 on their initial marketing campaign to help educate consumers on the benefits of paying by mobile, drive the necessary change in consumer behavior, and generate demand.
The conceptualization and pilot phase took years and started when Voda- fone support expertise landed in Nairobi early 2005 (ibid.). The develop- ment work addressed six basic issues: i) Safaricom’s capabilities are pivotal for implementation and sustainability, ii) the target audience is the unbanked and the assumption was (our interpretation) that there was no need for tra- ditional bank accounts, iii) the transactions will be carried out with virtual or e-money which necessitates a financial framework to meet the require- ments by the central bank. In short, e-money floating around in Safaricom’s system must have corresponding value of real currency deposited at a bank. iv) the technology must work across all types of handsets, even the sim- plest ones. It was decided that SMS using a platform built on the STK plat- form (SIM toolkit) for setting up user menus. v) the “offer” must meet a real market need that could relatively easy translate into a demand. Although there is a perceived need for moving money in Kenya, it was not clear if the market was ready for mobile solutions. Discussions with local MFIs con- vinced Safaricom/Vodafone that the time was ripe. vi) The process of cash in/cash out was seen as the final stumbling block for convincing customers. It was decided to use Safaricom’s existing dealers that had to apply to become M-Pesa dealers as well.
Lastly, mobile banks will have to design efficient means to gather information about their (prospective) clients and target product and sales to their individual profiles. Information about consumers is important in order to inform commercial decisions, estimate credit risks and shed light on client demand features. Historically, much of this information has come from costly long term investments in relationships. But where available, consumer and market statistics can substitute for relationship based information. Where they are not available, or are scarce or unreliable – such as in developing markets - mobile banks may need to revert to developing relationship based sources of information, especially if they are interested in expanding beyond basic payment services. Similarly, whereby many financial products are marketed and sold remotely in mature markets, low financial literacy and immature product standards in developing markets may make mobile banks more reliant on proximity based sales strategies than the advent of mobile communication might suggest. Face-to-face relations could be more important than in sophisticated markets and mobile banks may therefore need to develop a greater local presence, through partners or branches of their own, than they at first expect. Insofar as knowledge gathering of this kind remains expensive, mobile banks will curtail services to the poorest sections of society and seek to share costs with relevant partners.
In the digitalized world, the spread of information technology, increased use of personal computers, easing internet connectivity, and the widespread use of mobile phones have encouraged mobile companies to provide financialservices. A success story is the use of M- Pesa in developing countries. Zandi and Singh (2010), report that there is a strong correlation between electronic payment instruments and economic growth. In a research done by Hasan et al (2012), for 27 European countries during 1995-2009, the results turned out that switching from the form of cash payments to electronic payments prompted the entire economy of these countries. Referring to a Canadian study (Arango & Taylor 2008), when a merchant decides to accept electronic or cash payments, he should think about the costs and benefits.
We conclude results show the better performance CloudMoV, in conditions of efficiency, timely social communication, scalability and transcoding. In video gallery from watching mobile users can get a live or on- demand video and chat with their friends concurrently while enjoying the video. We introduced a mobile application that giving a front room experience while viewing a video. The quickly expanding influence of individual cell phones (Smartphone, tablets, and so forth.) is giving much wealthier substance and social communications to clients progressing. This pattern however is throttled by the constrained battery lifetime of cell phones and unsteady remote availability, making the most astounding conceivable nature of administration experienced by versatile clients not plausible. The late distributed computing innovation, with its rich assets to make up for the restrictions of cell phones and associations, can conceivably give a perfect stage to bolster the coveted versatile administrations. We are utilizing the IaaS cloud benefits, the open source instrument that utilized is open cloud and the forthcoming open cloud sunstone innovation is utilized for the execution.
The analysis of main effects regarding financial service attributes can lead to valuable insights for designing financial products (S CHRIEDER 1996). The main effects are investigated by using part- worth and total utilities, and the relative importance of single attributes. A utility is a measure of relative desirability or worth. When computing utilities using logit, every attribute level is assigned a utility (also referred to as part-worth). The higher the utility, the more desirable the attribute level. Attribute levels with high utilities have a large positive impact on influencing respondents to choose products. Just because a level receives a negative utility value does not mean that this level is unattractive. But relatively speaking, other levels are better. Utilities are zero-centered within the attribute and therefore sum to zero in each attribute. The relative attractiveness of a concept can be assessed by adding up the utilities for its component attribute levels (total utility). Utilities cannot directly be compared between different attributes or between different market segments. Therefore, the relative importance of each attribute is calculated to enable comparisons between attributes. 10 The logit analysis is evaluated by the chi-square statistics. Both the credit and savings models have seven degrees of freedom. With seven degrees of freedom, a chi-square of about 25 would be significant at the 0.001% level. The chi-Squares obtained from the logit analysis, which are recorded in Table 7, Table 8, and Table 9, are safely larger than this. Therefore, it is safe to say that respondent choices are significantly affected by the attribute composition of the concepts.
alternative payment networks with potential to compete with existing networks in which they not only participate but may also be investors / co-shareholders High uncertainty associated with the potential success of mobile and agent banking, small absolute returns in poor markets and the level of required investment can all diminish the attractiveness of investments in this domain Business &
The cost of transfer, usually charged as a percent of the amount sent, is considered expensive for small amounts for both local and international transfers (Au and Kauffman, 2008). The informal systems of money transfer such as individuals carrying money on themselves or sending drivers and conductors are susceptible to highway robberies and thefts (Kim .et al., 2010 and Hughes and Lonie, 2007). Sander (2003) also noted that money sent through friends and relatives is sometimes misused and at times never reaches its destination while money sent through letters and parcels of the courier companies may be stolen. Other challenges associated with the formal and semi-formal systems, include delays and long queues, network limitations, insolvency of branches, unreliable communication and misdirected parcels (Au and Kauffman, 2008). This situation has changed dramatically in the last few years with the introduction of mobile phone-based money transfer (MMT) services. The introduction of prepaid cards of low denominations and the fallen prices of mobile handsets have lead to a rapid spread of mobile phones in the developing countries (Orozco, 2003). This has opened up diverse opportunities for it to be used beyond voice communication. At the centre of this experience is money transfer.
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In addition, Table 3 shows a comparison between the UCS and the Bank of Italy’s Survey on Household Income and Wealth (SHIW), which is a nationally representative sample. To improve comparability, we selected three sub-samples from the SHIW: the sample of household heads (because in the SHIW financial literacy tests are asked only to household heads), the sample of those who hold an account at a bank or at a post office (because the UCS only samples account holders), and finally the sub-sample of household heads who hold a bank/post account. In general, the Unicredit sample is older, more educated, more likely to live in the North, and with higher family income. Given that financial literacy is correlated with education, income and is usually higher in northern regions, it is reasonable to expect the UCS sample to display higher financial literacy than the SHIW one. However, it is hard to make financial literacy comparisons. First, it is not possible to compare single items since tests are different. 14 Second, it is not easy to make comparisons even by looking at the overall performance. On average UCS respondents report more correct answers, display a considerably lower number of “do not know”s and a lower fraction of individuals gave zero correct answers. Nevertheless, in the UCS there is a higher share of incorrect answers than in the SHIW.
Two types of solutions may be employed to control communications services end-to-end: control plane – signalling – and management mechanisms. It is felt that purely control-plane-oriented solutions – MPLS  , GMPLS  , SIP  , and RSVP-TE  – have serious limitations. Unification of the control plane would give each node within the domain a complete view of the packet/circuit topologies and would provide that view to the domain manager. Nevertheless, this view is often limited to the domain boundaries. In particular, reliability and trust considerations are key here: indeed, operators have limited trust for inter-domain signalling because of the complex translation rules, network address translation (NAT) traversals and especially security vulnerability issues – distributed/denial of service attacks (DoS/DDoS), etc. Other operations and management functions such as network planning and resource inventory, service-level agreement (SLA) assurance, accounting and, most importantly, cross-domain management are still required.
In literature, the adoption of new technologies has gained considerable attention, and many scholars use technology acceptance model (TAM) to explore the determinants influencing the use of technology . In fact, TAM is an information systems theory that models how users come to accept and use a technology. Currently, many studies have used the TAM concept to investigate the mobile domain . In this model, perceived ease-of-use and perceived usefulness are two critical predictors influencing the adoption of new technologies. Perceived ease-of-use refers to the degree to which a person believes that using a particular system would be free from effort, while perceived usefulness refers to the degree to which a person believes that using a particu- lar system would enhance his or her job performance . Thus, TAM focuses on individual preferences rather than situation or external factors. Although TAM has been well examined in mobile data services and it shows a moderate prediction model , few studies use this model to predict consumer behavior in the context of MFS. Due to the mobility, MFS can allow customers to manage the accounts in the bank and use the financialservices anytime and anyplace. Personal habit with the cell phone fosters the intention to use MFS. Thus, this study mainly explored the effects of perceived ease-of-use, perceived usefulness, perceived mobility and personal ha- bit on the use of MFS. A case study research was conducted to investigate a renowned bank in Taiwan which provided a variety of MFS for customers. The contribution of the study is to advance the theory of TAM in the context of mobile commerce, and also provide the practical suggestions for the practitioners.
different advantages and opportunities. Among the many other advantages which it provides is the ability to transfer money at a low cost within a branchless bank (Ngaruiya et al., 2014). It is abundantly evident, from the literature which the researcher consulted, that users of Mobile Money services in Kenya and Ghana are no longer confronted with obstacles pertaining to making cash available at short notice, because the system has made financial transactions easier, safer, and cashless (Ngaruiya et al., 2014; Amponsah, 2018). The concept of a cashless economy is being enthusiastically promoted by many central banks throughout Africa (Amponsah, 2018; Chimaobi & Chizoba, 2014). Ngaruiya et al. (2014) point out that the adoption of the system has facilitated decision making and the exchange of information, improved the ability of businesses to network successfully, and increased the competitiveness of SMEs. The findings of a study which was conducted by Chimaobi and Chizoba (2014) revealed that SMEs in Nigeria which traded by means of mobile systems were able to shorten their delivery times significantly. Both Ngange and Beng (2017) and Chimaobi and Chizoba (2014) maintain that using Mobile Money services facilitates communication between users and improves relationships between buyers and sellers. Effective communication has also significantly reduced the effects of the phenomenon which is known as asymmetric information or information failure between users, which results from one user in a transaction having significantly more information pertaining to it than the other. Amponsah (2018) recommends that MNOs should strive to offer innovative services, as opposed to the ranges of products which they offer, in order to increase the appeal of the services to users. In Cameroon this recommendation could be put into effect by offering interest on money which is stored in Mobile Money accounts or offering microloans to users who make regular transactions. Increasing the range of opportunities which are available to users would create added value for SMEs and enable them to reduce their operational expenses and, indirectly, improve their performance.
The objective of this study is to determine the role that obesity plays in how often Canadians visit their family doctors or general practitioners. Doctor visits are analyzed using mixtures of ordered probability models applied to sample survey data from the 2010 Canadian Community Health Sur- vey. This procedure is shown to be superior in terms of likelihood criteria to the more usual one involving count models of doctor visits. The main result is that obesity is one of the leading causes of doctor visits. Obesity has become more important in the demand for physician services than smoking for all Canadians. Other factors including diabetes, the individual’s level of education, po- sition in the income distribution, and drinking behavior are also important. The application of la- tent class’s ordered probability models by age-group and gender leads to results which are dif- ferent from what others have found. While obesity is shown to be a serious problem in Canada, it has not yet reached the stage which some researchers have described as critical.
Research has suggested that the most attractive WAP applications are news, entertainment, ticketing and reservations, as well as banking. These are actually among the most common online services used with computers as well. To conclude, while many 3G services are operated via the Internet, browsing the Internet from mobile phones or PDAs will not be a mobile version of fixed-line access. In fact, people do not use the Internet in the same way from mobile terminals as they do when accessing the Internet via larger screens from computers. France Telecom Research & Development (2004) predicts that mobile Internet offers the advantage of always being near at hand, and of being a personal tool. On this basis possible successful services might be services developed for travelling purposes like ticketing, checking schedules, traffic reports and related services.
This case study is part of a number of reports prepared in the framework of the extension of the European Cluster Observatory. Two additional case studies also present results for the creative industries and the eco industries. The methodology for the case studies is described in more detail in a separate methodology report on the identification and benchmarking of ideal framework conditions. The definitions of emerging industries are detailed in the methodology report for the classification of the most active, significant and relevant new emerging industrial sectors. Emerging industries can be defined as the establishment of an entirely new industrial value chain, or the radical reconfiguration of an existing one, driven by a disruptive idea (or convergence of ideas), leading to turning these ideas/opportunities into new products/services with higher added value. The European Cluster Excellence Scoreboard Pilot Version measures regional strength in emerging industries and presents results in the fields of creative industries, eco industries and mobileservices. The methodology applied by this scoreboard is described in more detail in a separate methodology report. Furthermore, a policy roadmap prepared by the European Forum for Clusters in Emerging Industries (EFCEI) introduces recommendations for actions for new linkages to promote the development of emerging industries through clusters in Europe. All reports – together with further maps by country, industry and indicators – can be found at http://www.clusterobservatory.eu/index.html#!view=aboutobservatory;url=/about-observatory /emerging-industries/ and http://www.emergingindustries.eu/.