Mobile Banking and Financial Inclusion : The Regulatory Lessons

Mobile banking is growing at a remarkable speed around the world. In the process it is creating considerable uncertainty about the appropriate regulatory response to this newly emerging service. This paper sets out a framework for considering the d...

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Bibliographic Details
Main Authors:	Klein, Michael, Mayer, Colin
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	ACCESS PRICING ACCESS TO FINANCE ACCESS TO PAYMENTS ACCOUNT HOLDER ACCOUNT HOLDERS ACCOUNT OWNERS ACCOUNTING ADVANCED ECONOMIES ANTI-MONEY LAUNDERING ANTI-MONEY LAUNDERING LEGISLATION ASSET CLASSES ATM BANK ACCOUNT BANK ACCOUNTS BANK BRANCH BANK BRANCHES BANK DEPOSITS BANK FOR INTERNATIONAL SETTLEMENTS BANK REGULATION BANKING MODELS BANKING REGULATION BANKING SERVICES BANKING SUPERVISION BANKING SYSTEM BANKS BARRIER BARRIER TO ENTRY BASIC BENEFICIARY BOOK ENTRY BOOK-ENTRY BORROWING BUSINESS MODELS CAPITAL ADEQUACY CAPITAL CONTROL CAPITAL REQUIREMENTS CASH ECONOMY CASH MANAGEMENT CASH WITHDRAWALS CENTRAL BANK CHECKING ACCOUNT CHECKS CLEARING SYSTEMS COLLATERAL COMMERCIAL BANKING COMMERCIAL LAW COMMUNICATION TECHNOLOGIES COMMUNITIES COMPETITION POLICY COMPETITIVE MARKETS COMPONENTS CONSUMER PROTECTION CONTRACTUAL RELATIONSHIP CREDIT CARD CREDIT CARDS CREDIT GROWTH CREDITS CUSTODY CUSTOMER DEMAND DEPOSIT DEPOSIT INSURANCE DEPOSITOR DEPOSITORS DEPOSITS DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVICES DISCLOSURE REQUIREMENTS DISPUTE RESOLUTION DIVERSIFICATION E-MONEY ECONOMIC ACTIVITY ECONOMIC POLICY ELECTRONIC ACCOUNT ELECTRONIC FORMS ELECTRONIC PAYMENTS ELECTRONIC TRANSFERS EMERGING MARKETS EMPLOYEE EXPENDITURE EXTERNALITIES FAIR PRICE FINANCIAL DEVELOPMENT FINANCIAL REGULATION FINANCIAL REGULATORS FINANCIAL REVOLUTION FINANCIAL RISKS FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FINANCIAL VIABILITY FOREIGN CURRENCY FRAUD HEALTH SERVICES HOLDING HOUSEHOLD APPLIANCES INCOME LEVEL INCUMBENT PROVIDERS INFLATION INNOVATIONS INSTITUTIONAL INFRASTRUCTURE INSTRUMENT INSURANCE INTEREST INCOME INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTEROPERABILITY INVESTING INVESTMENT BANKING INVESTMENT RISK INVESTMENT RISKS LEGAL BARRIERS LEGAL PROTECTION LEGISLATION LIQUIDITY LOAN LOAN PAYMENTS LOAN PRODUCTS LOCAL CURRENCY MARGINAL COSTS MARKET FAILURE MARKET PARTICIPANTS MARKET SHARE MATURITY MATURITY TRANSFORMATION MEANS OF EXCHANGE MERCHANT MERCHANTS MICRO-FINANCE MICRO-LENDING MICROCREDIT MICROFINANCE MOBILE BANKING MOBILE PAYMENT SYSTEM MOBILE PHONE MOBILE PHONES MODERN FINANCIAL SYSTEMS MONETARY AUTHORITIES MONEY SUPPLY MONEY TRANSFER MONOPOLY NETWORK INDUSTRIES NETWORKS NEW BUSINESS NEW ENTRANTS NEW TECHNOLOGIES NEW TECHNOLOGY NOW ACCOUNTS OPERATIONAL RISK OUTPUT PAYMENT MECHANISM PAYMENT MECHANISMS PAYMENT OBLIGATIONS PAYMENT OF INTEREST PAYMENT SERVICES PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENTS SERVICES PAYMENTS SYSTEM PAYMENTS SYSTEMS PHONE BANKING POINT OF SALE POINT-OF-SALE PORTFOLIOS POST OFFICE PRIVATE INFRASTRUCTURE PRIVATE SECTOR DEVELOPMENT PROFITABILITY PRUDENTIAL REGULATION RECEIPTS REGISTRATION REQUIREMENTS REGULATOR REGULATORY APPROACHES REGULATORY AUTHORITIES REGULATORY REQUIREMENTS REGULATORY SYSTEM REGULATORY TREATMENT REMITTANCE REMITTANCES REPAYMENTS RETURN RETURNS RISK OF LOSS SAFE INSTRUMENTS SAVINGS SETTLEMENT SETTLEMENT SYSTEM SUBSIDIARY SYSTEMIC RISKS TAX TELECOMMUNICATIONS TELEPHONE SERVICE TERMINALS TRADITIONAL BANKING TRANSACTION TRANSACTION COSTS TRANSPARENCY TRANSPORT UNION VILLAGES WITHDRAWAL WITHDRAWAL FEE
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110518143113 http://hdl.handle.net/10986/3427

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Summary:	Mobile banking is growing at a remarkable speed around the world. In the process it is creating considerable uncertainty about the appropriate regulatory response to this newly emerging service. This paper sets out a framework for considering the design of regulation of mobile banking. Since it lies at the interface between financial services and telecoms, mobile banking also raises competition policy and interoperability issues that are discussed in the paper. Finally, by unbundling payments services into its component parts, mobile banking provides important lessons for the design of financial regulation more generally in developed as well as developing economies.

Mobile Banking and Financial Inclusion : The Regulatory Lessons

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