A boon to businesses everywhere, mobile payments have proliferated, and their ability to cater to underserved populations in low-income countries is considerable. But with growth come numerous risks. Moving the process of oversight toward greater uniformity will be essential to protect consumer funds, ensure the public trust and maintain the integrity of payment systems. getAbstract recommends this succinct yet comprehensive study from the International Monetary Fund to entrepreneurs who want to gain a toehold in this dynamic marketplace, to businesses looking to expand their market share, and to financial regulators responsible for oversight.
In this summary, you will learn
- What constitutes a mobile payment,
- How demand for the service has grown, and
- What regulatory and oversight challenges these systems present.
About the Author
Tanai Khiaonarong is a senior financial sector expert with the International Monetary Fund.