WING Mobile Payments : A Product Design Case Study

Economists have long known that financial services have benefits for users by allowing them to smooth consumption, save for bulky purchases, etc. But the recognition of their importance even for people with relatively low incomes those earning one...

Full description

Bibliographic Details
Main Author:	International Finance Corporation
Format:	Working Paper
Language:	English en_US
Published:	Washington, DC 2015
Subjects:	ACCESS TO FINANCE ACCESS TO FORMAL FINANCE ADVERTISEMENTS ADVERTISING ADVISORY SERVICES ATM BANK ACCOUNT BANK ACCOUNTS BANK BRANCHES BANK CUSTOMERS BANK DEPOSITS BANKING NETWORK BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKING SYSTEMS BANKS BARRIER BENEFICIARIES BEST PRACTICES CELL PHONE CELLPHONE CELLPHONES CHECKING ACCOUNT CLIENT BASE COMMERCIAL BANK COSTS TO CUSTOMERS CURRENCY CONVERSION CUSTOMER BASE CUSTOMER BEHAVIOR DELIVERY SYSTEM DEMAND FOR SAVINGS DEPOSIT DEPOSIT ACCOUNTS DEPOSIT SERVICES DEPOSITS DEVELOPING COUNTRIES DIRECT DEPOSIT DISBURSEMENTS DISTRIBUTION CHANNEL DISTRIBUTION NETWORK ECONOMIC CRISIS ENTREPRENEURS FAMILIES FARMER FINANCIAL ACCESS FINANCIAL EXCLUSION FINANCIAL INSTITUTIONS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL SERVICES FINANCIAL_ACCESS FIXED COST FOREIGN EXCHANGE FORMAL BANKING FORMAL BANKS FORMAL FINANCIAL SECTOR FORMAL FINANCIAL SERVICES HOUSEHOLDS INCOME INCOME STREAMS INCOMES INFORMAL PROVIDERS INNOVATION INTERNATIONAL COMPARISONS KNOWLEDGE SHARING LENDER LIQUIDITY LOAN LOCAL CURRENCY MARGINAL COSTS MARKETING MASS MARKET MEDIA MERCHANTS MFI MFIS MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MIGRANT WORKERS MOBILE BANKING MOBILE NETWORK MOBILE NETWORKS MOBILE PAYMENT SYSTEM MOBILE PAYMENT SYSTEMS MOBILE PHONE MOBILE PHONES MOBILE SERVICE MONEY TRANSFER MONEY TRANSFERS MOVEMENT OF FUNDS NATIONAL BANK NEW PRODUCTS NEW TECHNOLOGY ONLINE BANK OUTREACH PAYMENT FACILITIES PAYMENT SYSTEM PENETRATION RATE PENETRATION RATES PHONE NETWORKS PHONE PENETRATION POWER PARITY PRODUCT DESIGN PRODUCT DEVELOPMENT PRODUCT INNOVATION PRODUCT INNOVATIONS PROFITABILITY PROSPECTIVE CUSTOMER PROVISION OF CREDIT PURCHASING POWER PURCHASING POWER PARITY RADIO RAPID GROWTH REAL TIME REGULATORY CONSTRAINT REPAYMENTS RESULT RESULTS RETURN SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SAVINGS PRODUCTS SERVICE PROVIDERS SMALL BUSINESSES TELEVISION TRADING TRANSACTION TRANSACTION COSTS TRANSPARENCY USERS VILLAGE VILLAGES VOLATILITY
Online Access:	http://documents.worldbank.org/curated/en/2015/03/24158206/wing-mobile-payments-product-design-case-study http://hdl.handle.net/10986/21680

id	okr-10986-21680
recordtype	oai_dc
spelling	okr-10986-216802021-04-23T14:04:04Z WING Mobile Payments : A Product Design Case Study International Finance Corporation ACCESS TO FINANCE ACCESS TO FORMAL FINANCE ADVERTISEMENTS ADVERTISING ADVISORY SERVICES ATM BANK ACCOUNT BANK ACCOUNTS BANK BRANCHES BANK CUSTOMERS BANK DEPOSITS BANKING NETWORK BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKING SYSTEMS BANKS BARRIER BENEFICIARIES BEST PRACTICES CELL PHONE CELLPHONE CELLPHONES CHECKING ACCOUNT CLIENT BASE COMMERCIAL BANK COSTS TO CUSTOMERS CURRENCY CONVERSION CUSTOMER BASE CUSTOMER BEHAVIOR DELIVERY SYSTEM DEMAND FOR SAVINGS DEPOSIT DEPOSIT ACCOUNTS DEPOSIT SERVICES DEPOSITS DEVELOPING COUNTRIES DIRECT DEPOSIT DISBURSEMENTS DISTRIBUTION CHANNEL DISTRIBUTION NETWORK ECONOMIC CRISIS ENTREPRENEURS FAMILIES FARMER FINANCIAL ACCESS FINANCIAL EXCLUSION FINANCIAL INSTITUTIONS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL SERVICES FINANCIAL_ACCESS FIXED COST FOREIGN EXCHANGE FORMAL BANKING FORMAL BANKS FORMAL FINANCIAL SECTOR FORMAL FINANCIAL SERVICES HOUSEHOLDS INCOME INCOME STREAMS INCOMES INFORMAL PROVIDERS INNOVATION INTERNATIONAL COMPARISONS KNOWLEDGE SHARING LENDER LIQUIDITY LOAN LOCAL CURRENCY MARGINAL COSTS MARKETING MASS MARKET MEDIA MERCHANTS MFI MFIS MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MIGRANT WORKERS MOBILE BANKING MOBILE NETWORK MOBILE NETWORKS MOBILE PAYMENT SYSTEM MOBILE PAYMENT SYSTEMS MOBILE PHONE MOBILE PHONES MOBILE SERVICE MONEY TRANSFER MONEY TRANSFERS MOVEMENT OF FUNDS NATIONAL BANK NEW PRODUCTS NEW TECHNOLOGY ONLINE BANK OUTREACH PAYMENT FACILITIES PAYMENT SYSTEM PENETRATION RATE PENETRATION RATES PHONE NETWORKS PHONE PENETRATION POWER PARITY PRODUCT DESIGN PRODUCT DEVELOPMENT PRODUCT INNOVATION PRODUCT INNOVATIONS PROFITABILITY PROSPECTIVE CUSTOMER PROVISION OF CREDIT PURCHASING POWER PURCHASING POWER PARITY RADIO RAPID GROWTH REAL TIME REGULATORY CONSTRAINT REPAYMENTS RESULT RESULTS RETURN SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SAVINGS PRODUCTS SERVICE PROVIDERS SMALL BUSINESSES TELEVISION TRADING TRANSACTION TRANSACTION COSTS TRANSPARENCY USERS VILLAGE VILLAGES VOLATILITY Economists have long known that financial services have benefits for users by allowing them to smooth consumption, save for bulky purchases, etc. But the recognition of their importance even for people with relatively low incomes those earning one to two dollars a day, for instance is relatively recent. This recognition has been spurred by a better understanding of the financial lives of the poor, and of the critical role played by uncertainty and volatility. The objective of this case study is to describe the design and implementation of WING, a Cambodian mobile-phone-based payment system. The product has been successful in providing access to formal banking to the previously unbanked in Cambodia. The following sections present the problem of financial exclusion, how WING meets this problem by providing a mobile banking network, the unique aspects of WING s design compared to other products, challenges in achieving technology adoption and other constraints faced by the product, and how WING has responded to these challenges throughout implementation. Finally, the case study presents lessons learned and behavioral applications for future products. 2015-04-02T20:58:42Z 2015-04-02T20:58:42Z 2015-03 Working Paper http://documents.worldbank.org/curated/en/2015/03/24158206/wing-mobile-payments-product-design-case-study http://hdl.handle.net/10986/21680 English en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ International Finance Corporation Washington, DC Publications & Research Publications & Research :: Working Paper East Asia and Pacific Cambodia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCESS TO FINANCE ACCESS TO FORMAL FINANCE ADVERTISEMENTS ADVERTISING ADVISORY SERVICES ATM BANK ACCOUNT BANK ACCOUNTS BANK BRANCHES BANK CUSTOMERS BANK DEPOSITS BANKING NETWORK BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKING SYSTEMS BANKS BARRIER BENEFICIARIES BEST PRACTICES CELL PHONE CELLPHONE CELLPHONES CHECKING ACCOUNT CLIENT BASE COMMERCIAL BANK COSTS TO CUSTOMERS CURRENCY CONVERSION CUSTOMER BASE CUSTOMER BEHAVIOR DELIVERY SYSTEM DEMAND FOR SAVINGS DEPOSIT DEPOSIT ACCOUNTS DEPOSIT SERVICES DEPOSITS DEVELOPING COUNTRIES DIRECT DEPOSIT DISBURSEMENTS DISTRIBUTION CHANNEL DISTRIBUTION NETWORK ECONOMIC CRISIS ENTREPRENEURS FAMILIES FARMER FINANCIAL ACCESS FINANCIAL EXCLUSION FINANCIAL INSTITUTIONS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL SERVICES FINANCIAL_ACCESS FIXED COST FOREIGN EXCHANGE FORMAL BANKING FORMAL BANKS FORMAL FINANCIAL SECTOR FORMAL FINANCIAL SERVICES HOUSEHOLDS INCOME INCOME STREAMS INCOMES INFORMAL PROVIDERS INNOVATION INTERNATIONAL COMPARISONS KNOWLEDGE SHARING LENDER LIQUIDITY LOAN LOCAL CURRENCY MARGINAL COSTS MARKETING MASS MARKET MEDIA MERCHANTS MFI MFIS MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MIGRANT WORKERS MOBILE BANKING MOBILE NETWORK MOBILE NETWORKS MOBILE PAYMENT SYSTEM MOBILE PAYMENT SYSTEMS MOBILE PHONE MOBILE PHONES MOBILE SERVICE MONEY TRANSFER MONEY TRANSFERS MOVEMENT OF FUNDS NATIONAL BANK NEW PRODUCTS NEW TECHNOLOGY ONLINE BANK OUTREACH PAYMENT FACILITIES PAYMENT SYSTEM PENETRATION RATE PENETRATION RATES PHONE NETWORKS PHONE PENETRATION POWER PARITY PRODUCT DESIGN PRODUCT DEVELOPMENT PRODUCT INNOVATION PRODUCT INNOVATIONS PROFITABILITY PROSPECTIVE CUSTOMER PROVISION OF CREDIT PURCHASING POWER PURCHASING POWER PARITY RADIO RAPID GROWTH REAL TIME REGULATORY CONSTRAINT REPAYMENTS RESULT RESULTS RETURN SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SAVINGS PRODUCTS SERVICE PROVIDERS SMALL BUSINESSES TELEVISION TRADING TRANSACTION TRANSACTION COSTS TRANSPARENCY USERS VILLAGE VILLAGES VOLATILITY
spellingShingle	ACCESS TO FINANCE ACCESS TO FORMAL FINANCE ADVERTISEMENTS ADVERTISING ADVISORY SERVICES ATM BANK ACCOUNT BANK ACCOUNTS BANK BRANCHES BANK CUSTOMERS BANK DEPOSITS BANKING NETWORK BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKING SYSTEMS BANKS BARRIER BENEFICIARIES BEST PRACTICES CELL PHONE CELLPHONE CELLPHONES CHECKING ACCOUNT CLIENT BASE COMMERCIAL BANK COSTS TO CUSTOMERS CURRENCY CONVERSION CUSTOMER BASE CUSTOMER BEHAVIOR DELIVERY SYSTEM DEMAND FOR SAVINGS DEPOSIT DEPOSIT ACCOUNTS DEPOSIT SERVICES DEPOSITS DEVELOPING COUNTRIES DIRECT DEPOSIT DISBURSEMENTS DISTRIBUTION CHANNEL DISTRIBUTION NETWORK ECONOMIC CRISIS ENTREPRENEURS FAMILIES FARMER FINANCIAL ACCESS FINANCIAL EXCLUSION FINANCIAL INSTITUTIONS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL SERVICES FINANCIAL_ACCESS FIXED COST FOREIGN EXCHANGE FORMAL BANKING FORMAL BANKS FORMAL FINANCIAL SECTOR FORMAL FINANCIAL SERVICES HOUSEHOLDS INCOME INCOME STREAMS INCOMES INFORMAL PROVIDERS INNOVATION INTERNATIONAL COMPARISONS KNOWLEDGE SHARING LENDER LIQUIDITY LOAN LOCAL CURRENCY MARGINAL COSTS MARKETING MASS MARKET MEDIA MERCHANTS MFI MFIS MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MIGRANT WORKERS MOBILE BANKING MOBILE NETWORK MOBILE NETWORKS MOBILE PAYMENT SYSTEM MOBILE PAYMENT SYSTEMS MOBILE PHONE MOBILE PHONES MOBILE SERVICE MONEY TRANSFER MONEY TRANSFERS MOVEMENT OF FUNDS NATIONAL BANK NEW PRODUCTS NEW TECHNOLOGY ONLINE BANK OUTREACH PAYMENT FACILITIES PAYMENT SYSTEM PENETRATION RATE PENETRATION RATES PHONE NETWORKS PHONE PENETRATION POWER PARITY PRODUCT DESIGN PRODUCT DEVELOPMENT PRODUCT INNOVATION PRODUCT INNOVATIONS PROFITABILITY PROSPECTIVE CUSTOMER PROVISION OF CREDIT PURCHASING POWER PURCHASING POWER PARITY RADIO RAPID GROWTH REAL TIME REGULATORY CONSTRAINT REPAYMENTS RESULT RESULTS RETURN SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SAVINGS PRODUCTS SERVICE PROVIDERS SMALL BUSINESSES TELEVISION TRADING TRANSACTION TRANSACTION COSTS TRANSPARENCY USERS VILLAGE VILLAGES VOLATILITY International Finance Corporation WING Mobile Payments : A Product Design Case Study
geographic_facet	East Asia and Pacific Cambodia
description	Economists have long known that financial services have benefits for users by allowing them to smooth consumption, save for bulky purchases, etc. But the recognition of their importance even for people with relatively low incomes those earning one to two dollars a day, for instance is relatively recent. This recognition has been spurred by a better understanding of the financial lives of the poor, and of the critical role played by uncertainty and volatility. The objective of this case study is to describe the design and implementation of WING, a Cambodian mobile-phone-based payment system. The product has been successful in providing access to formal banking to the previously unbanked in Cambodia. The following sections present the problem of financial exclusion, how WING meets this problem by providing a mobile banking network, the unique aspects of WING s design compared to other products, challenges in achieving technology adoption and other constraints faced by the product, and how WING has responded to these challenges throughout implementation. Finally, the case study presents lessons learned and behavioral applications for future products.
format	Working Paper
author	International Finance Corporation
author_facet	International Finance Corporation
author_sort	International Finance Corporation
title	WING Mobile Payments : A Product Design Case Study
title_short	WING Mobile Payments : A Product Design Case Study
title_full	WING Mobile Payments : A Product Design Case Study
title_fullStr	WING Mobile Payments : A Product Design Case Study
title_full_unstemmed	WING Mobile Payments : A Product Design Case Study
title_sort	wing mobile payments : a product design case study
publisher	Washington, DC
publishDate	2015
url	http://documents.worldbank.org/curated/en/2015/03/24158206/wing-mobile-payments-product-design-case-study http://hdl.handle.net/10986/21680
_version_	1764448963496247296

WING Mobile Payments : A Product Design Case Study

Similar Items