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Mobile money services development : the cases of the Republic of Korea and Uganda

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  • Gutierrez, Eva
  • Choi, Tony

Abstract

This study intends to increase understanding of how different types of mobile money services have developed in different environments. For this purpose, two countries were selected, the Republic of Korea and Uganda. From these study cases, some conclusions emerge. The development of mobile banking services can appear at different stages of financial sector development, but it requires a vibrant and competitive telecommunications sector. The regulatory environment does not need to be very sophisticated for the mobile industry to emerge. However, some elements appear to be important. The legal framework should allow (or at least not explicitly forbid) nonbank financial institutions to issue money and use banking agents or correspondents. To ensure wider use of the service by the population, it is important to educate the population on the benefits of mobile money services.

Suggested Citation

  • Gutierrez, Eva & Choi, Tony, 2014. "Mobile money services development : the cases of the Republic of Korea and Uganda," Policy Research Working Paper Series 6786, The World Bank.
    • Handle: RePEc:wbk:wbrwps:6786
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    References listed on IDEAS

    as
    1. World Bank, 2012. "The World Bank Annual Report 2012," World Bank Publications - Books, The World Bank Group, number 11845, December.
    2. World Bank, 2011. "The World Bank Annual Report 2011 [Banco Mundial - informe anual 2011 : reseña del ejercicio]," World Bank Publications - Books, The World Bank Group, number 2378, December.
    3. David Porteous, 2009. "Mobilizing Money through Enabling Regulation," Innovations: Technology, Governance, Globalization, MIT Press, vol. 4(1), pages 75-90, January.
    4. World Bank, 2012. "The World Bank Annual Report 2012," World Bank Publications - Books, The World Bank Group, number 11846, December.
    5. World Bank, 2012. "The World Bank Annual Report 2012," World Bank Publications - Books, The World Bank Group, number 11844, December.
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    Cited by:

    1. Lashitew, Addisu A. & van Tulder, Rob & Liasse, Yann, 2019. "Mobile phones for financial inclusion: What explains the diffusion of mobile money innovations?," Research Policy, Elsevier, vol. 48(5), pages 1201-1215.
    2. Conrad Murendo & Meike Wollni & Alan De Brauw & Nicholas Mugabi, 2018. "Social Network Effects on Mobile Money Adoption in Uganda," Journal of Development Studies, Taylor & Francis Journals, vol. 54(2), pages 327-342, February.
    3. Josephat Lotto, 2018. "Examination of the Status of Financial Inclusion and Its Determinants in Tanzania," Sustainability, MDPI, vol. 10(8), pages 1-15, August.

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    More about this item

    Keywords

    E-Business; Banks&Banking Reform; Environmental Economics&Policies; E-Finance and E-Security; Emerging Markets;
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