African telcos cash in on mobile payments

While mobile network operators have stolen the lead in the provision of mobile payment services to unbanked people in developing countries such as Africa,  their ability to provide full banking services, and get involved in remittances, may be somewhat limited. Partnering with established global banks, seeking to capitalise on unbanked regions, could be the answer, writes Liz Salecka.

Mobile network operators (MNOs) have made a headstart in facilitating mobile payments in regions with high unbanked populations, such as Africa, and are well positioned to exploit the growth in global remittances.