Mobile Money Services Development : The Cases of the Republic of Korea and Uganda

This study intends to increase understanding of how different types of mobile money services have developed in different environments. For this purpose, two countries were selected, the Republic of Korea and Uganda. From these study cases, some con...

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Bibliographic Details
Main Authors:	Gutierrez, Eva, Choi, Tony
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCOUNT BALANCE AFFILIATE ANTI-MONEY LAUNDERING ATM AUTOMOBILE BACK-UP BANDWIDTH BANK ACCOUNT BANK ACCOUNTS BANK BRANCHES BANK CUSTOMERS BANK OF KOREA BANK SERVICES BANKING MODELS BANKING SERVICE BANKING SERVICES BAR CODE BILL PAYMENT BROADBAND BROADBAND SERVICES BROWSER BROWSERS BUSINESS MODELS CABLE TELEVISION CAPABILITIES CELLULAR TELEPHONES COMMERCIAL BANK COMMERCIAL BANKING COMMERCIAL BANKS COMMUNICATION NETWORK COMMUNICATION STANDARD COMMUNICATION TECHNOLOGIES COMPUTERS CONFIDENTIALITY CONFIDENTIALITY OF DATA CONSUMER PROTECTION CONSUMER PROTECTION REGULATION CONSUMER RIGHTS CREDIT CARD CREDIT CARD COMPANIES CREDIT CARDS CUSTOMER SATISFACTION CUSTOMS DATA PROTECTION DATA SERVICES DEBIT CARDS DEPOSIT DEVELOPING COUNTRIES DIGITAL SIGNATURE DIGITAL TRANSACTION DIRECT DEBIT DISTRIBUTION CHANNEL DOMESTIC SECURITY DUE DILIGENCE ECONOMIC DEVELOPMENT ECONOMIC EFFECTS ECONOMIC GROWTH ECONOMIC REFORMS ELECTRICITY ELECTRONIC CASH ELECTRONIC FINANCIAL TRANSACTION ELECTRONIC FINANCIAL TRANSACTIONS ELECTRONIC PAYMENT ELECTRONIC PAYMENT SYSTEMS ELECTRONIC SIGNATURE ELECTRONIC SIGNATURE LAW ELECTRONIC TRANSACTIONS ENABLING ENVIRONMENT ERA FACE-TO-FACE TRANSACTION FINANCIAL ACTIVITIES FINANCIAL DEVELOPMENT FINANCIAL INFORMATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENT FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL TRANSACTION FINANCIAL TRANSACTIONS GLOBALIZATION GOVERNMENT REVENUES HOUSING ICT ID NUMBER IDENTIFICATION INFORMATION IDENTIFICATION TECHNOLOGY IDENTITY MODULE INCOME INCOME DISTRIBUTION INFLATION INFORMATION PROTECTION INFORMATION SERVICES INFORMATION TECHNOLOGY INNOVATION INNOVATIONS INSTITUTIONAL DEVELOPMENT INSURANCE INTERFACE INTERNATIONAL BANK INTERNET ACCESS INTERNET BANKING INTEROPERABILITY LABOR FORCE LEGAL FRAMEWORK LEGISLATION LIQUIDITY LOGGING LOW-INCOME COUNTRY MARKET DEMAND MARKET DEVELOPMENT MARKET SHARE MARKET SHARES MARKETING MARKETING STRATEGY MENU MICRO PAYMENT MOBILE ACCESS MOBILE APPLICATION MOBILE BANKING MOBILE COMMUNICATION MOBILE COMMUNICATIONS MOBILE DEVICES MOBILE NETWORK MOBILE PHONE MOBILE PHONES MOBILE SERVICE MOBILE SERVICES MOBILE TELEPHONY MOBILE TRANSACTIONS MONEY TRANSFER MULTIPLE ACCESS NATURAL RESOURCES NETWORK SERVICE NETWORK TRAFFIC NEW ENTRANTS NEW TECHNOLOGIES NONBANK FINANCIAL INSTITUTIONS NONBANKS NUMBER OF USERS OIL OPEN ACCESS OPERATING SYSTEM OPERATING SYSTEMS PAYMENT FUNCTION PAYMENT METHODS PAYMENT PLATFORM PAYMENT SERVICE PAYMENT SERVICES PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENT TRANSACTIONS PAYMENTS SYSTEM PENALTIES PENETRATION RATE PENSION PHONE NUMBER PORTABILITY PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PUBLIC TRANSPORT PUBLIC TRANSPORTATION RADIO RADIO COMMUNICATION RADIO FREQUENCY RADIO FREQUENCY IDENTIFICATION RADIO-FREQUENCY IDENTIFICATION RAPID ECONOMIC GROWTH REGULATORY ENVIRONMENT REGULATORY ENVIRONMENTS REGULATORY FRAMEWORK REGULATORY FRAMEWORKS RELIABILITY REMOTE AREAS RESULT RETAIL PAYMENT RETAIL PAYMENTS RFID SAVINGS SCAMS SCIENTIFIC RESEARCH SERVICE PROVIDER SERVICE PROVIDERS SET OF STANDARDS SITES SMART CARD SMART CARD COMPANIES SMART CARDS SMART PHONE SMART PHONES STAKEHOLDERS STREAMS SUBSCRIBER IDENTITY MODULE SUPERVISION TAX TECHNICAL STANDARD TECHNOLOGICAL DEVELOPMENTS TELECOM TELECOMMUNICATION TELECOMMUNICATIONS TELECOMMUNICATIONS INFRASTRUCTURE TELEPHONE TELEPHONE SERVICE TELEPHONES TERRORIST TRANSACTION SERVICES UCC USER USERS WIRELESS APPLICATION WIRELESS APPLICATION PROTOCOL WIRELESS NETWORK WIRELESS TECHNOLOGIES WORLD ECONOMIES
Online Access:	http://documents.worldbank.org/curated/en/2014/02/19123594/mobile-money-services-development-cases-republic-korea-uganda http://hdl.handle.net/10986/17339

Description
Summary:	This study intends to increase understanding of how different types of mobile money services have developed in different environments. For this purpose, two countries were selected, the Republic of Korea and Uganda. From these study cases, some conclusions emerge. The development of mobile banking services can appear at different stages of financial sector development, but it requires a vibrant and competitive telecommunications sector. The regulatory environment does not need to be very sophisticated for the mobile industry to emerge. However, some elements appear to be important. The legal framework should allow (or at least not explicitly forbid) nonbank financial institutions to issue money and use banking agents or correspondents. To ensure wider use of the service by the population, it is important to educate the population on the benefits of mobile money services.

Mobile Money Services Development : The Cases of the Republic of Korea and Uganda

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