A PRESENTATION ON MOBILE MONEY TRANSFER IN GHANA

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MOBILE MONEY TRANSFER IN GHANA : 

MOBILE MONEY TRANSFER IN GHANA BY FRANCIS ARTHUR DOROTHY S. AYIKU EUGENE KANDA NOVEMBER 15, 2010

INTRODUCTION & OVERVIEW : 

INTRODUCTION & OVERVIEW What is money transfer? How was money transferred before? The challenges with the old system The need for a better money transfer system

TRENDS IN MONEY TRANSFER : 

TRENDS IN MONEY TRANSFER Wire transfer Bank Draft Internet Money Transfer services Money orders through a Third Party Provider

MOBILE PHONE AS A BUSINESS TOOL : 

MOBILE PHONE AS A BUSINESS TOOL The unbanked population The greater majority cell phone users Bridging the gap between the “unbanked” and mobile phone users

THE QUEST FOR A CASHLESS SOCIETY : 

THE QUEST FOR A CASHLESS SOCIETY integration of Mobile Technology with the large unbanked population The partnership of Telecommunication companies and financial institutions. E-ZWICH

MOBILE MONEY SERVICE PROVIDERS : 

MOBILE MONEY SERVICE PROVIDERS AFRIC XPRESS MTN GHANA ZAIN GHANA TIGO

PATRONAGE : 

PATRONAGE MTN Mobile Money– about 2 million subscribers Zap from Zain – 70,000 subscribers

MERITS OF THE MOBILE MONEY TRANSFER SERVICE : 

MERITS OF THE MOBILE MONEY TRANSFER SERVICE Fast and secure transfer ReductionCost of doing business Use of service No need for a bank account convenience

CHALLENGES : 

CHALLENGES sensitization Attitude to change Accessibility of the service

THE WAY FORWARD : 

THE WAY FORWARD Increasing outlets of partner institutions into the rural areas Recruiting more Dealers/ Agents merchants/vendors Public education

Conclusion : 

Conclusion “mobile money transfer services has the potential to positively impact the Ghanaian society. It is about time we embrace the system so as to enjoy a stress free environment for handling financial transactions and increase productivity on the whole”.

THANK YOU : 

THANK YOU 12

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