icoderz
Senior Member
- Mar 9, 2014
- 135
- 83
Topic: Enable universal acceptance of mobile money payments to create an economic ecosystem that will help lift the poorest out of poverty
The Challenge:
We are seeking novel solutions that promote adoption and use of mobile payments by smaller merchants (such as local sellers of goods), service providers (such as local schools and health clinics), and other members of the ecosystem serving the poor.
Solutions should seek to address the need for any provider of products and services to be able to easily accept mobile payments from customers with a mobile money wallet provided by any competing bank, telecommunication company or third party provider.
In addition to mobile payments, the foundation will consider novel solutions that promote the use of digital transactions on any format that effectively reach and serve the poor.
Mobile is targeted by the foundation because of the high penetration of mobile phone ownership among people with very low incomes.
What We Are Looking For:
We will consider proposals with solutions relevant to those living on less than $2 a day in developing regions in these opportunity areas: Devices. Apply or create new technology for exchange of mobile funds at the time of purchase.
Preference will be given to solutions that address as many of the following objectives as possible:
We will not consider funding for:
Source: Mobile Money Payments Round 14
The Challenge:
We are seeking novel solutions that promote adoption and use of mobile payments by smaller merchants (such as local sellers of goods), service providers (such as local schools and health clinics), and other members of the ecosystem serving the poor.
Solutions should seek to address the need for any provider of products and services to be able to easily accept mobile payments from customers with a mobile money wallet provided by any competing bank, telecommunication company or third party provider.
In addition to mobile payments, the foundation will consider novel solutions that promote the use of digital transactions on any format that effectively reach and serve the poor.
Mobile is targeted by the foundation because of the high penetration of mobile phone ownership among people with very low incomes.
What We Are Looking For:
We will consider proposals with solutions relevant to those living on less than $2 a day in developing regions in these opportunity areas: Devices. Apply or create new technology for exchange of mobile funds at the time of purchase.
- Software. Apply or create software and/or applications that enable mobile transactions.
- Business models. Develop alternative business and market models and/or processes that meet the needs of buyers and sellers."
Preference will be given to solutions that address as many of the following objectives as possible:
- Scalable: Solutions should be able to reach a broad number of users in multiple villages, cities and/or countries. Proposals should describe the manner in which the solution could achieve broad use.
- Ease of use: Making and accepting mobile payments should be as easy as using cash, including for those with limited reading ability.
- Interoperable: Solutions should enable mobile payments between buyers and sellers that choose to use competing mobile money providers.
- Reliable: Users should feel confident that transactions are executed as directed; payments should be complete and certain at the time of purchase.
- Low cost: Transaction fees charged to buyers and sellers should be low and affordable by those living on less than $2 a day.
- Secure: Users should feel confident that their funds, payment, and personal data are secure.
- Portable Coverage: Users should be able to take their mobile financial service history and mobile funds with them when moving between providers.
- Transparent: Relevant fees should be readily apparent to buyers and sellers before confirming payments.
- Geographically aligned: Solutions should target or be applicable to mobile payment systems serving the poor in Africa and Southeast Asia.
We will not consider funding for:
- Ideas that simply replicate or repackage payment processes and ideas from developed countries.
- Ideas that are not applicable or affordable to those living on under $2 a day in developing countries.
- Ideas that have a limited or unrealistic path to broad use, including those that rely on long-term financial subsidies.
- Solutions to sign up a large number of merchants to accept mobile payments without a realistic approach to provide sustained support to those merchants.
- Projects that do not clearly consider the current context of available financial systems and infrastructure for the poor. For example, ideas that require expensive devices or require government-issued IDs in a country where few people have them.
- Approaches that present significant data safety risks, relative to the risks inherent in developed world mobile payment systems."
Source: Mobile Money Payments Round 14
