Payments News


Pulling funds from bank accounts: best practices for mobile money providers

“In our 2017 Edition of The State of The Industry report, we highlighted an increase in funds entering and leaving the mobile money system in digital form. The most pronounced change was in bank-to-mobile transactions, from 1 per cent of total transaction values in 2012 to 9.2 per cent in 2017. In another blog post, we noted how bank-to-mobile and mobile-to-bank transfers are enabling merchants and small businesses to interact with the broader financial system and to digitise their respective value chains through supplier and salary payments.”