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:
ATM
TAX
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
id okr-10986-3427
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic 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
spellingShingle 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
Klein, Michael
Mayer, Colin
Mobile Banking and Financial Inclusion : The Regulatory Lessons
geographic_facet The World Region
The World Region
relation Policy Research working paper ; no. WPS 5664
description 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.
format Publications & Research :: Policy Research Working Paper
author Klein, Michael
Mayer, Colin
author_facet Klein, Michael
Mayer, Colin
author_sort Klein, Michael
title Mobile Banking and Financial Inclusion : The Regulatory Lessons
title_short Mobile Banking and Financial Inclusion : The Regulatory Lessons
title_full Mobile Banking and Financial Inclusion : The Regulatory Lessons
title_fullStr Mobile Banking and Financial Inclusion : The Regulatory Lessons
title_full_unstemmed Mobile Banking and Financial Inclusion : The Regulatory Lessons
title_sort mobile banking and financial inclusion : the regulatory lessons
publishDate 2012
url 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
_version_ 1764386980743872512
spelling okr-10986-34272021-04-23T14:02:09Z Mobile Banking and Financial Inclusion : The Regulatory Lessons Klein, Michael Mayer, Colin 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 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. 2012-03-19T18:02:16Z 2012-03-19T18:02:16Z 2011-05-01 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 English Policy Research working paper ; no. WPS 5664 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper The World Region The World Region