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  • Mobile Money in GHANA

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    The document discusses the history of money transfer and challenges with previous systems. It introduces newer methods of money transfer using wire transfers, bank drafts, internet services, and money orders through third parties. It focuses on integrating mobile technology with the large unbanked population in Africa by forming partnerships between telecom companies and financial institutions. Examples from Ghana are provided on mobile money transfer services that have millions of subscribers but still face challenges with sensitization, accessibility, and expanding agent networks in rural areas. The document concludes that mobile money transfer has great potential to benefit Ghanaian society by providing stress-free financial transactions and increasing productivity.

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    The document discusses the history of money transfer and challenges with previous systems. It introduces newer methods of money transfer using wire transfers, bank drafts, internet services, and money orders through third parties. It focuses on integrating mobile technology with the large unbanked population in Africa by forming partnerships between telecom companies and financial institutions. Examples from Ghana are provided on mobile money transfer services that have millions of subscribers but still face challenges with sensitization, accessibility, and expanding agent networks in rural areas. The document concludes that mobile money transfer has great potential to benefit Ghanaian society by providing stress-free financial transactions and increasing productivity.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
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    64 views12 pages

    Mobile Money in GHANA

    Uploaded by

    meone99
    The document discusses the history of money transfer and challenges with previous systems. It introduces newer methods of money transfer using wire transfers, bank drafts, internet services, and money orders through third parties. It focuses on integrating mobile technology with the large unbanked population in Africa by forming partnerships between telecom companies and financial institutions. Examples from Ghana are provided on mobile money transfer services that have millions of subscribers but still face challenges with sensitization, accessibility, and expanding agent networks in rural areas. The document concludes that mobile money transfer has great potential to benefit Ghanaian society by providing stress-free financial transactions and increasing productivity.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
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    of 12

    BY

    FRANCIS ARTHUR DOROTHY S. AYIKU EUGENE KANDA

    NOVEMBER 15, 2010

    What is money transfer? How was money transferred before?

    The challenges with the old system


    The need for a better money transfer system

    Wire transfer Bank Draft

    Internet Money Transfer services


    Money orders through a Third Party Provider

    The unbanked population

    The greater majority cell phone users


    Bridging the gap between the unbanked and mobile

    phone users

    integration of Mobile Technology with the large unbanked

    population The partnership of Telecommunication companies and financial institutions. E-ZWICH

    AFRIC XPRESS

    MTN GHANA
    ZAIN GHANA TIGO

    MTN Mobile Money about 2 million subscribers Zap from Zain 70,000 subscribers

    Fast and secure transfer

    ReductionCost of doing business


    Use of service No need for a bank account

    convenience

    sensitization

    Attitude to change
    Accessibility of the service

    Increasing outlets of partner institutions into the

    rural areas Recruiting more Dealers/ Agents merchants/vendors Public education

    mobile money transfer services has the potential to positively impact the Ghanaian society. It is about time we embrace the system so as to enjoy a stress free environment for handling financial transactions and increase productivity on the whole.

    THANK YOU

    12

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