Mobile Money Catching on Worldwide as Banks Join the Action

Dubai, United Arab Emirates, August 19, 2012 --( More than 1000 mobile money industry experts and speakers as well as 70 global technology providers will gather for the annual Mobile Money Global Summit & Expo as part of the Connected World Forum in Dubai in November.

Mobile Money Global’s director Stuart Barker says the event is focussed on providing a full picture of everything that is happening throughout the global market and the full array of services being developed and offered by both banks and MNOs.

Banks seeing the opportunities
“The industry is starting to overcome the inertia around mobile money,” says the event director Stuart Barker. "There have been a lot of deployments (124 with 92 more planned), regulators are becoming far more enlightened and banks are really starting to see this as an opportunity rather than a threat, with some launching their own services." He says this development has given rise to an interesting split between bank led models and operator led models. He continues: “Africa is the mobile financial services hub of the globe, but the mobile money trend is catching on worldwide, from the Middle East, Europe and the US.”

According to the Mobile Money Global director the industry still faces certain challenges such as forming the right partnerships and JVs to offer widely acceptable service and then driving adoption of these services. Other challenges include creating interoperable and cross network services, agent selection, agent recruitment and incentivizing new agents and agent exclusivity.

NFC mobile payments
According to Stuart Barker the growth of the mobile money industry in the developed markets is driven by more advanced services including NFC mobile payments. He explains: “For example in stores or for transportation; banks allowing customers virtual access to their credit cards on the mobile phone; loyalty reward scheme to encourage mobile payments at merchant stores; ability to purchase digital goods and services through the mobile phone. To recognise this Mobile Money Global 2012 has a stream dedicated to NFC.”

Top speaker panel
The event boasts a speaker panel that represents the who’s who in the industry, with some 100 speakers from banks and MNOs such as Abu Dhabi Commercial Bank, Airtel Chad, Airtel Ghana, Axis Bank, Bank of Jamaica, Barclays, Citi, Dialog Telkom, Digicel, du, Dutch Bangla Bank, Etisalat, Garanti Bank, Grameenphone, Indusland Bank, Mobitel, Orange Group, Orange Jordan, Orange Madagascar, Q-tel, Shaka Mobile, Stanbic Bank, Standard Bank, Standard Chartered Bank, Telkom Kenya, Turkcell, UAE Exchange, United Bank Limited, Vodafone and Warid Telecom.

The Connected World Forum consists of three separate streams: Mobile Money, Mobile Health and Mobile Life.

Event dates:
19 November: Pre-conference workshop, Mobile Money Academy
20-21 November: Mobile Money Conference days
22 November: Post-conference workshop: Mobile Money Academy
Location: Dubai, UAE
Mobile Money Global
Annemarie Roodbol
+27 21 700 3558