Presented at AITEC Conference in Nairobi, Kenya; March 8, 2012.
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1. Mobile MoneyProduct InnovationDriving financial inclusion
through research and development Lisa Kienzle Grameen Foundations
AppLab Money March 8, 2012
2. 70% of adults in Kenya Less than 10% of mobileuse M-PESA
phone banking customersdemonstrating that the are poor, new
tomobile channel can banking, and doingsuccessfully reach poor
anything more than
3. Few providers have moved beyond payments in their product
offering ~100% offer standard payments 120 38% # operators offering
the 100 provide other payment types 29% product type 80 enable
interaction 60 with financial institutions 10% facilitate 40 loans
4% offer 20 insurance 0 Traditional Other Bank Credit Insuran
Payments Payments Linkage ce (Transfer, Bill Pay, Airtime) Payments
Beyond PaymentsSource: GSMA deployment tracker, November 2011.
4. So why arent we seeing more innovation? People dont buy
products they buy solutions.
5. How do we drive innovation?In villages inUganda,the
entireeconomy isdriven by theagriculturalcycle.
6. How do we drive innovation? Education is an untouchable
expenditure.
7. Insights arise from close studies of the end-userOne of the
largest schools inUganda but not using mobilepayments.
8. Insights arise from close studies of the end-user No stress,
no more lines, pay instantly anywhere, anytime but not being
9. So why arent we seeing more innovation? The payments process
is not the pain point for the poor facing big expenses during low
earnings cycles is.Make saving for A savings sub-wallet money
isschool fees painless diverted every time airtime isand secure
purchasedHelp customers plan Create an annual mobile education fund
your phone prompts you tofor the expenses put away more in harvest
times, less otherwiseIncentive early For early payers, 1 individual
perpayment, when cash region awarded annualis available
scholarship
10. Insights arise from close studies of the
end-userwww.grameenfoundation.applab.org
11. So why arent we seeing more innovation? Lets make a
quarter-inch hole.