Comments on: Mobile banking in India – hyped or popular? Questions for Vodafone’s Naushad Contractor http://technology.cgap.org/2008/10/21/mobile-banking-in-india-hyped-or-popular-questions-for-vodafones-naushad-contractor/ How can technology increase the reach of microfinance? Mon, 06 Feb 2012 18:55:24 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: CK http://technology.cgap.org/2008/10/21/mobile-banking-in-india-hyped-or-popular-questions-for-vodafones-naushad-contractor/comment-page-1/#comment-1048 CK Tue, 21 Apr 2009 03:06:28 +0000 http://technology.cgap.org/?p=518#comment-1048 The question is WHY do we need the banks ? Why do we need to use the banks to transfer funds between their accounts when we know the exorbitant costs and lack of physical access for unbanked users. Imagine if all the telco's networks are connected then electronic currency will need not be cashed out, hence at least 70 % of the population can pay anyone on any network without the need to ask for real cash (which is the real issue - See M-Pesa problem with agents having to horde cash and recieve cash -). No physical cash equals no banks and with no banks, less costs and faster deployment. The question is WHY do we need the banks ? Why do we need to use the banks to transfer funds between their accounts when we know the exorbitant costs and lack of physical access for unbanked users. Imagine if all the telco’s networks are connected then electronic currency will need not be cashed out, hence at least 70 % of the population can pay anyone on any network without the need to ask for real cash (which is the real issue – See M-Pesa problem with agents having to horde cash and recieve cash -). No physical cash equals no banks and with no banks, less costs and faster deployment.

]]> By: Prateek Shrivastava http://technology.cgap.org/2008/10/21/mobile-banking-in-india-hyped-or-popular-questions-for-vodafones-naushad-contractor/comment-page-1/#comment-530 Prateek Shrivastava Thu, 20 Nov 2008 11:00:14 +0000 http://technology.cgap.org/?p=518#comment-530 In response to Panganai's comment. I completely agree with your thought and this is what we do at Monitise. We have built hubs in the UK and the US that allow banks and operators to talk together and deploy products and services that are meaningful to them and their customers. We have successfully driven the cost of deployment of mobile-banking down for banks and operators. This makes it a better proposition for the consumer. In response to Panganai’s comment. I completely agree with your thought and this is what we do at Monitise. We have built hubs in the UK and the US that allow banks and operators to talk together and deploy products and services that are meaningful to them and their customers.

We have successfully driven the cost of deployment of mobile-banking down for banks and operators. This makes it a better proposition for the consumer.

]]> By: M-banking en India « Telefonía Móvil y Acceso a Servicios Financieros en América Latina y Caribe http://technology.cgap.org/2008/10/21/mobile-banking-in-india-hyped-or-popular-questions-for-vodafones-naushad-contractor/comment-page-1/#comment-468 M-banking en India « Telefonía Móvil y Acceso a Servicios Financieros en América Latina y Caribe Fri, 24 Oct 2008 12:40:05 +0000 http://technology.cgap.org/?p=518#comment-468 [...] tendencias de la banca celular en India, Jim Rosenberg publica en el blog de CGAP una interesante entrevista (en inglés) a Naushad Contractor, Director de Marketing para comercio móvil en Vodafone Essar y miembro del comité regulatorio del [...] [...] tendencias de la banca celular en India, Jim Rosenberg publica en el blog de CGAP una interesante entrevista (en inglés) a Naushad Contractor, Director de Marketing para comercio móvil en Vodafone Essar y miembro del comité regulatorio del [...]

]]> By: TECHNOLOGY FOCUS: Mobile Banking in India - hyped or popular? A CGAP Interview http://technology.cgap.org/2008/10/21/mobile-banking-in-india-hyped-or-popular-questions-for-vodafones-naushad-contractor/comment-page-1/#comment-466 TECHNOLOGY FOCUS: Mobile Banking in India - hyped or popular? A CGAP Interview Fri, 24 Oct 2008 06:01:07 +0000 http://technology.cgap.org/?p=518#comment-466 [...] the Poor (CGAP), the leading microfinance think tank housed at the World Bank, recently posted and interview with with Naushad Contractor about India’s mobile banking trends in their technology blog. [...] [...] the Poor (CGAP), the leading microfinance think tank housed at the World Bank, recently posted and interview with with Naushad Contractor about India’s mobile banking trends in their technology blog. [...]

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