Network Approach
Networks are fundamental to successful and sustainable financial infrastructures. The Mobile Money Ecosystem is all about network connections:
- connecting people’s mobiles to their money
- connecting their accounts to payment mechanisms
- connecting payment to goods and service providers
- enabling interoperability between banked and unbanked consumers
- ensuring access for people across all handsets, all mobile networks, all forms of money
- connecting sending and receiving countries globally.
Without such connections, Mobile Money will not flourish because it means that:
- consumers have to sign-up separately for multiple services
- services will only be available on certain handsets
- there will be a fragmented experience with multiple single-function services
- services will be closed-loop ‘I can only pay if I have a special account and you have a special account’
- established, resilient, regulated infrastructures will not be leveraged
- change will be hindered by the inflexibility of multiple bi-partite connections.
Providing networked propositions for the end customer means establishing technical and commercial connectivity between the businesses in the Mobile Money ecosystem.
Monitise's network approach provides the opportunity to create these connections, providing more than just a superb technical solution. It means that by working with Monitise, businesses have the opportunity to form third-party connections on an outsourced, aggregated basis, and to be connected to our increasing network of partners. All of which enables joined-up propositions to the end-user. Which is ultimately how mobile money will flourish.
