The GSMA (www.gsmworld.com) has launched a Mobile Money Exchange initiative designed to help financial services companies who are entering the mobile environment by providing a common voice and formal business forum for business collaboration. The Mobile Money Exchange will feature an online knowledge portal with social business networking and community functionality.
Visa and Globe Telecom are the first two founding partners. The Mobile Money Exchange builds on the Mobile Money Program launched by GSMA in 2006. Fundamental principles and requirements that are not currently being met, such as fragmentation and lack of ability to scale, will be addressed, according to GSMA chief commercial officer, Bill Gajda.
The Mobile Money Exchange is open to any organization and seeks to establish a broad-based stakeholder community that comprises key areas including mPayments, mBanking, Mobile Money for the Unbanked (MMU), and Mobile Money Transfer (MMT).
The Mobile Money Exchange was announced at the GSMA Mobile Money Summit, which was sponsored by Visa, and organized by Consultative Group to Assist the Poor (CGAP) (www.cgap.org), the UK Department for International Development (DFID) (www.dfid.gov.uk), and the International Finance Corporation (IFC) (www.ifc.org/).
-Stuart Whitaker
Monday, July 6, 2009
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