How Cellphone Technology Can Mobilise Microfinance
This presentation, commissioned by the mobile network operator, Vodafone, describes how cell phone technology can mobilize microfinance. It focuses particularly on Vodafone's M-Pesa Project, located in Kenya.The presentation details the:
- Main features of Vodafone;
- Advantages of using a mobile phone;
- M-Pesa project, that aims to:
- Improve the efficiency of microfinance by using mobile technology to make transactions faster, cheaper and more secure;
- Create a mobile-enabled version of an existing microfinance system, by partnering with Kenyan businessmen;
- Transaction types that M-Pesa can support;
- Expected benefits like:
- Consumer convenience;
- Real time view of cash flow;
- Reduction in the costs of the microfinance institution.
- Status of the Microfinance-Pesa business trial that is being held in various provinces of Kenya;
- Challenges faced by this technology:
- Need to fine-tune the technology;
- Business processing, and training the consumers and the regulator.
The presentation concludes with a look into the future and identifies:
- Further concepts to be launched in Kenya;
- Other countries that are interested in the concept;
- The goal of low-cost international remittances.