Source: Foundation for Development Cooperation.

Original press release available online.

BRISBANE, Australia, October 27 – The Foundation for Development Cooperation is proud to present the occasional paper series: FDC Nai Sema. Nai Sema means “to connect” in the Fijian language. Through this occasional paper series, FDC aims to promote an exchange of ideas amongst those working in international development and cooperation and to generate discussion on the topics presented within.

Mobile Financial Services: Extending the Reach of Financial Services Through Mobile Payment Systems

As part of FDC’s work with the Asia Pacific Economic Cooperation’s Business Advisory Council on Financial Sector Capacity Building, it became clear that there was limited summary information about the actual status of various mobile financial service initiatives around the world. Accordingly, FDC moved to compile an overview of the current literature on mobile financial services, with the intention of evaluating how effective mobile phones may be in providing financial services to the unbanked population in developing countries. This document highlights what the mobile financial services industry entails, including the benefits and challenges facing the industry, while also providing case studies to evaluate its effectiveness.