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Introduction

In: The Regulation of Mobile Money

Author

Listed:
  • Sunduzwayo Madise

    (University of Malawi)

Abstract

This chapter provides a background to the book. In sub-Saharan Africa, it is not electricity, water and food that come first but the mobile phone. The mobile money service rides on the mobile phone platform. Kenya’s M-Pesa is the industry standard. It is a revolutionary form of payment which does not require a bank account. The mobile phone is used as the payment device and unlike plastic money, there is an instantaneous transfer of value. Mobile network operators are uniquely placed to offer the service as they already are in the mobile telephone business. However, existing regulatory frameworks for mobile money, which are based on the traditional architecture of financial service regulation, do not address the specific issues and challenges posed by mobile money.

Suggested Citation

  • Sunduzwayo Madise, 2019. "Introduction," Palgrave Macmillan Studies in Banking and Financial Institutions, in: The Regulation of Mobile Money, chapter 0, pages 1-14, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-030-13831-8_1
    DOI: 10.1007/978-3-030-13831-8_1
    as

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