The following is a partial transcript of a panel discussion held at the Mobile Money Summit in June 2009 featuring Jojo Malolos of SMART Money and Rizza Maniego from G-Xchange. Jojo and Rizza address timely issues surrounding mobile money, including:
- Their approaches used to understand the customer
- Approaches used to drive adoption
- Perspectives on interoperability
UPDATED: On 1st July 2009, a new Amendment Act to RICA (the Regulation of Interception of Communications and Provision of Communication-Related Information Act) comes into effect. The Act is intended to assist law enforcement agencies with tracing criminals where mobile phones are used to commit major crimes; however, this new regulatory requirement has had the unintended consequence of making it more difficult for customers to register for mobile services, including mobile money.
Our recent survey in the Philippines suggests that the early adopters of mobile money are unique in two important ways: the way that they use of voice and data services, and the frequency that they purchase load.
Earlier in the year, the GSMA and our friends at CGAP conducted a consumer survey in the Philippines, one of the most advanced markets for mobile money. To understand some of the factors that contribute to mobile money adoption, we spoke to over 1,000 unbanked Filipinos, including current mobile money users and those who do not use the service. One theme that emerged from the analysis is the importance of network reliability and signal strength.
