Is the world truly ready to adopt mobile payments? To give in
indication, MasterCard’s thought leadership unit Global Insights
has issued a research paper, titled Mobile Payments
Readiness Index (MPRI).
MasterCard has listed 34 markets across the
globe in terms of mobile payment adoption readiness.
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Theodore Iacobuzio, vice-president, Global Insights, wrote on
the MasterCard blog:
“The headline of the Index is simple and compelling: It’s early
days for mobile payments but we are making significant progress. On
a scale of zero to 100, the MPRI average is 33.2. The 34 countries
range from 22.4 to 45.6 (a narrow spectrum) and no one market has a
monopoly on mobile payments adoption. The MPRI’s top five markets
are Singapore, Canada, the United States, Kenya, and South Korea.
(…)
“It allows anybody with a browser to get in-depth information on
individual markets, compare countries, and obtain a unique snapshot
of where the industry stands regarding mobile payments—a critical
element in our strategy to create a world beyond cash.”
The MPRI Index visualises data and is what Iacobuzio calls a
“dynamic web-based tool”.
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Microfinance with m-services
In a separate, but related, announcement, MasterCard revealed
that it is working with the IFC to support financial inclusion of
the unbanked in Africa.
The IFC is a member of the World Bank Group and provides
financing services and advice for ventures and projects in
developing countries.
Reeta Roy, President and CEO of The MasterCard Foundation,
said:
“As we scale institutions and support new mobile financial
service opportunities, this partnership will also create knowledge
that will be invaluable in promoting greater financial
inclusion.”
The partnership is worth USD37.4m and will focus mostly on
microfinance banks that are looking to grow their product and
service portfolios. Low-cost mobile payment and other related
financial services will be a key focus.
Since 2006, the MasterCard foundation has supported microfinance
projects in Sub-Sahara. Its partnership deals to date are worth
USD230m.
