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2019 | OriginalPaper | Chapter

3. Developments in Mobile Technology and the Emergence of Mobile Money

Author : Sunduzwayo Madise

Published in: The Regulation of Mobile Money

Publisher: Springer International Publishing

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Abstract

This chapter analyses the development of the mobile phone and how this has uniquely led to the success of the mobile money service in sub-Saharan Africa. It provides a brief overview of the development of the telephone and the challenges faced by the landline in sub-Saharan Africa. The chapter looks at how mobile network operators developed a revolutionary solution to the remittance dilemma facing most parts of sub-Saharan Africa by developing the mobile service, as an add-on service based on the small messaging service. Using the framework developed in Chapter 2, it analyses mobile money and airtime credit as emerging forms of money. The chapter also examines how the mobile money payment system interacts with the national payment system.

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previous chapter Introduction to Money

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Also called sim card.

GSMA (2017) ‘Brief History of GSM & the GSMA’ (GSM Association), http://www.gsma.com/aboutus/history. 10 March 2017.

Ignacio Mas and Daniel Radcliffe (2011) ‘Mobile Payments Go Viral: M-PESA in Kenya’ 32 The Capco Institute Journal of Financial Transformation 169, p. 170.

GSMA (2017).

Jenny Aker and Isaac Mbiti (2010) ‘Mobile Phones and Economic Development in Africa’ 24 (3) Journal of Economic Perspectives 207, p. 4, https://www.aeaweb.org/atypon.php?doi=10.1257/jep.24.3.207. 13 December 2018.

Adeyemi Adepetun (2015) ‘Africa’s Mobile Phone Penetration Now 67%’ The Guardian, http://www.ngrguardiannews.com/2015/06/africas-mobile-phone-penetration-now-67/. 12 December 2018.

Anon (2015) ‘Why Africa Mobile Phone Penetration Rising to 79% by 2020 Is Good News’ (Amgoo Telecom Co., Ltd.), http://www.amgoo.com/blog/why-africa-mobile-phone-penetration-rising-to-79-by-2020-is-good-news. 12 December 2018.

Aker and Mbiti (2010), p. 3.

Porteous (2006), p. 3.

Jack and Suri (2011), p. 7.

Mas and Radcliffe (2011), p. 170.

Ibid., p. 172.

CF Myers and LS Crosby (1953) Principles of Electricity Applied to Telephone and Telegraph Work (American Telephone and Telegraph Company, New York), p. 154.

Ibid., p. 165.

Of course, licences must be procured to be allowed to transmit radio signals.

Myers and Crosby (1953), p. 165.

Christopher Haslett (2008) Essentials of Radio Wave Propagation (Cambridge University Press, Cambridge), p. 1.

Ibid., p. 3.

Joel Young (2009) ‘Weird & Wireless: RF “Line of Sight”’ Electronics Weekly (21 October 2009), http://www.electronicsweekly.com/blogs/electro-ramblings/weird-wireless/weird-wireless-rf-line-of-sight-2009-10/. 10 March 2018.

John M Senior (1951) Optical Fiber Communications (Prentice-Hall International, Inc.), p. 6.

Ibid., p. 6.

Ibid.

Ibid., p. 7.

For a comparison between optical fibre and copper see: ‘Submarine Cable Map’ (PriMetrica, Inc., 2015), http://www.submarinecablemap.com/#/. 5 May 2018.

See ibid.

Gabriella Mulligan (2015) ‘Is Fibre Optic Cable Key to Africa’s Economic Growth?’ BBC Business News (London, 31 March 2015), http://www.bbc.co.uk/news/business-32079649. 9 May 2018.

‘Mobile Phone Base Stations—How Mobile Phone Networks Work’ (Ofcom 2001), http://www.ofcom.org.uk/static/archive/ra/topics/mpsafety/school-audit/mobilework.htm. 27 March 2018.

Jon Agar (2003) Constant Touch: A Global History of the Mobile Phone (Icon Books, Cambridge) Chapter 4.

Ibid., Chapter 7.

Ibid.

Ofcom (2001) ‘Mobile Phone Base Stations—How Mobile Phone Networks Work’ (Office of the Communications Regulator, UK), http://www.ofcom.org.uk/static/archive/ra/topics/mpsafety/school-audit/mobilework.htm. 12 December 2018.

Ibid.

David Smith (2014) ‘Internet Use on Mobile Phones in Africa Predicted to Increase 20-fold’ The Guardian (5 June 2014), http://www.theguardian.com/world/2014/jun/05/internet-use-mobile-phones-africa-predicted-increase-20-fold. 10 March 2018.

ITU (2009) Information Society Statistical Profiles 2009—Africa (International Telecommunications Union), p. 1, http://www.itu.int/dms_pub/itu-d/opb/ind/D-IND-RPM.AF-2009-PDF-E.pdf. 12 December 2018.

GSMA (2015) The Mobile Economy Sub-Saharan Africa 2015, https://www.gsmaintelligence.com/research/?file=721eb3d4b80a36451202d0473b3c4a63&download. 12 December 2018.

Smith (2014).

Giridaran Saubramaniam (2013) ‘Mobile Money: A Theoretical Study of Alternative Media of Exchange, and an Empirical Study with Respect to M-Pesa in Kenya’ (Toulouse School of Economics), p. 6, http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2278679. 15 December 2018.

Mas and Radcliffe (2011), p. 170.

Ibid., p. 172.

Porteous (2006), p. 44.

Ibid.

Author’s personal knowledge.

Amrik Heyer and Ignacio Mas (2009) Seeking Fertile Grounds for Mobile Money (Mobile Money for the Unbanked, GSMA, London), p. 5, http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2012/03/fertile_grounds_mobile_money55.pdf. 14 February.

Ibid., p. 5.

Ibid., p. 10.

Patrick M Jost and Harjit Singh Sandhu (2003) The Hawala Alternative Remittance System and Its Role in Money Laundering (Interpol), p. 2, https://www.peacepalacelibrary.nl/ebooks/files/hawala.pdf. 14 February 2018.

Ibid.

Somik V Lall, Hyoung Wang and Thomas Munthali (2009) Explaining High Transport Costs Within Malawi—Bad Roads or Lack of Trucking Competition? (Policy Research Working Paper 5133, World Bank Publications), http://elibrary.worldbank.org/doi/pdf/10.1596/1813-9450-5133. 11 March 2018.

Chris Chibwana (2010) ‘The High and the Hidden Costs of Banking in Malawi’, http://chibwana.com/2010/04/05/costs-of-banking-in-malawi/. 11 March 2018.

Geetha Nagarajan (July 2010) ‘Money in a Pot: Has OIBM Altered Savings in Rural Malawi?’ (Financial Service Assessment), http://www.fsassessment.umd.edu/notes/savings-rural.html. 11 March 2018.

Kelvin Chaguza (2017) ‘Opportunity International Bank of Malawi (OIBM) to Trim Its Staff This Year’ Face of Malawi (26 January 2017), http://www.faceofmalawi.com/2017/01/opportunity-bank-of-malawi-oibm-to-trim-its-staffs-this-year/. 10 March 2018.

FMB ‘First Merchant Bank to Acquire Opportunity International Bank of Malawi’ (27 June 2017), http://www.fmbmalawi.com/first-merchant-bank-to-acquire-opportunity-international-bank-of-malawi/. 18 July 2018.

Which has now rebranded to First Capital Bank.

Legislation to enable national identification system was passed: National Registration Act (Malaŵi 2010), but efforts to operationalise it only started in 2015—Malaŵi Government (2015).

Finscope (2014), p. 5.

Ibid., p. 2.

Anon (2014) ‘Rural Population in Malawi’ Trading Economics, http://www.tradingeconomics.com/malawi/rural-population-wb-data.html. 19 May 2018.

UNESCO (2016).

Chipiliro Kansilanga (2015) ‘Malawi Savings Bank Finally Sold’ Daily Times (2 July 2015), http://www.times.mw/malawi-savings-bank-finally-sold-2/. 20 July 2018.

‘MoneyGram’ (MoneyGram International Limited), https://m.moneygram.com/mgomobile/site/costEstimator.html#CostEstimatorResults. 11 March 2018.

XE (2018).

MPC (2017) ‘Financial, Retail & Agency Services’ (Malawi Posts Corporation), http://malawiposts.com/finance.html. 10 March 2018.

Vince Kumwenda (2012) ‘Malawi Posts Corporation’s Fast Cash Money Transfer’, http://vincekumwenda.blogspot.co.uk/2012/05/malawi-posts-corporations-fast-cash.html. 23 February 2018.

Chitaka is a collective word (Cheŵa) all forms of magic tricks usually associated with stealing of money.

(2012) Study on Informal and Non-formal Rural Financial Services 2012 (Concern Universal Malawi), p. 13, http://concern-universal.org/wp-content/uploads/2014/07/CUMO-Study-of-Rural-Finance-Summary.pdf. 7 October 2018.

Although the agent low agent penetration is still perceived as a barrier that needs to be overcome.

For example, the remittance fee is K50 regardless of the amount for Mpamba.

Kihagi (2013). See also TNM (2017).

Mas and Radcliffe (2011). See also Aker and Mbiti (2010), p. 20.

Donovan (2012), p. 2653.

RBM (2015), p. 14.

Ibid.

RBM (2017), p. 1.

RBM (2015), p. 14.

Maurer (2012), p. 306.

Brendan Greeley (2013) ‘One Good Paper: Monopoly Power in Mobile Money’ Bloomberg Businessweek, http://www.businessweek.com/articles/2013-03-13/one-good-paper-monopoly-power-in-mobilelectronicmoney. 28 March 2018.

Hughes and Lonie (2007), p. 69.

Di Castri (2013), p. 15.

Ibid.

Mas and Radcliffe (2011), p. 171.

Donovan (2012), p. 2648.

A customer due diligence is however done.

George Ngigi, ‘M-Pesa Linked to Rise in Inflation’ Business Daily (14 February 2012), http://www.businessdailyafrica.com/M-Pesa-linked-to-rise-in-inflation/-/539552/1327538/-/13rogmr/-/index.html. 28 March 2018.

Ibid.

Beth Jenkins (2008) ‘Developing Mobile Money Ecosystems’ (Washington, DC: International Finance Corporation and Harvard Kennedy School), p. 21, http://ww.gsma.com/mobilefordevelopment/wp-content/uploads/2012/06/report_30_mobilemoney.pdf. 13 December 2018.

Hughes and Lonie (2007), p. 63.

Jenkins (2008), p. 5.

Ibid.

Maurer (2012), p. 308.

Ibid.

Reference to a common manner of keeping money safe in rural areas of Malaŵi.

‘Bharti Airtel’ (Bharti Airtel 2017), http://www.airtel.in/about-bharti/about-bharti-airtel. 30 May 2018.

Di Castri (2013), p. 15.

‘Airtime’ (2016) Cambridge University Press, http://dictionary.cambridge.org/dictionary/english/airtime. 27 June 2018.

Airtel (2016) ‘Me2U’ (Airtel, Malawi), http://africa.airtel.com/wps/wcm/connect/africarevamp/malawi/home/personal/voice-and-text/phone-services/me2u. 21 May 2018.

TNM (2013) ‘Me2u Service’ (Telekom Networks Malawi), http://www.tnm.co.mw/index.php/me2u.html. 21 May 2018.

Safaricom Call Theirs ‘Sambaza’: Safaricom (2017) ‘Sambaza’ (Safaricom, Kenya), https://www.safaricom.co.ke/personal/calls-sms/prepay/sambaza. 17 February 2018.

As where two persons are in a remote area far from any airtime vendor and one of them needs to top up his or her airtime.

Porteous (2006), p. 23.

100

Safaricom (2017).

101

Peter Day (2005) ‘Mutual Benefits of Profits from Poverty’ BBC News (4 July 2005), http://news.bbc.co.uk/1/hi/business/4648049.stm. 17 February 2018.

102

Airtel (2017) ‘One Network Countries’ (Airtel Ghana), http://africa.airtel.com/wps/wcm/connect/africarevamp/Ghana/Home/personal/premier/one-network/PG_One-Network-Countries/. 29 May 2018.

103

The MO6262 is a mobile platform service operated by the National bank of Malaŵi. Almost all banks now have a similar service that extends the bank account to the mobile phone platform.

104

This may not be necessary true, however, in the age of Wi-fi technology and for the so-called smart phones which are able to connect to this technology and still operate, on a reduced level though.

105

Porteous (2006), p. 23.

106

Ibid.

107

Gunnar Camner and Emil Sjöblom (2009) Can the Success of M-PESA Be Repeated?—A Review of the Implementations in Kenya and Tanzania, pp. 7–8, http://emil.sjoblom.com/pdf/M-Pesa_implementations_Ke_Tz.pdf. 15 December 2018.

108

M-Pesa is short for Mobile Pesa. Pesa is a Swahili (spoken in both Kenya and Tanzania) word for money. M-Pesa then directly translates to Mobile Money.

109

Camner and Sjöblom (2009).

110

Porteous (2006), p. 23.

111

Personal experience having been an agent before, at Chancellor College in Zomba (2006–2008).

112

Porteous (2006), p. 23.

113

James M Kenani, Stan G Kaunda and Chiyembekezo Chafuwa (2014) ‘Taxation Policy and Performance in Malawi Since Independence’ (Inaugural ECAMA Research Symposium, Lilongwe), http://www.slideshare.net/IFPRIMaSSP/taxation-policy-and-performance-in-malawi-since-independence-by-sg-kaunda-j-kenani. 17 February 2018.

Porteous (2006), p. 24.

114

Kelley Jr (1999), p. 22.

115

In the recent criminal case of R v Kumwembe et al. Criminal Case No. 65 of 2013 (Lilongwe Registry), the High Court convicted the accused persons based on evidenced that was mainly provided by a mobile network provider.

116

Heeks (2012).

117

Ibid.

118

Camner and Sjöblom (2009), p. 3.

119

Jenkins (2008), p. 11 quoting Fundamo CEO Hannes van Rensburg.

120

Ibid., p. 12 quoting Hans Wijiyasuriya, CEO of Sri Lanka’s Dialog Telekom.

121

Ibid., pp. 13, 15.

122

Mas and Radcliffe (2011), p. 177.

123

Ibid.

124

Ibid.

125

Jenkins (2008), p. 7.

126

Porteous (2006), p. 31.

127

Ibid.

128

Heyer and Mas (2009), p. 13.

Ibid.

Ibid., p. 15.

Ibid., p. 13.

Subramaniam (2013), p. 7.

133

Ngigi (2012).

134

Gantala Hawaiju (2013) The Impact of Mobile Money Transfer Technology (Clknet Policy Brief No. 12), http://docplayer.net/14873424-Curriculum-vitae-giuseppe-travaglini.html. 11 November 2018.

135

Di Castri (2013), p. 10.

136

Ibid.

137

CPSS (2012), p. 58.

138

Maurer (2012), p. 306.

139

Ibid.

140

William Jack, Tavneet Suri and Robert M Townsend (2010) ‘Monetary Theory and Electronic Money: Reflections on the Kenyan Experience’ 96 (1) Federal Reserve Bank of Richmond Economic Quarterly 83, p. 89, https://www.richmondfed.org/publications/research/economic_quarterly/2010/q1/townsend. 15 December 2018.

141

Heyer and Mas (2009), p. 9.

142

Ignacio Mas and Amolo Ng’weno (2010) Three Keys to M-PESAss Success: Branding, Channel Management and Pricing (GSMA), p. 6, http://www.www.oneapigw.gsma.com/mobilefordevelopment/wp-content/uploads/2012/06/keystompesassuccess4jan69.pdf. 15 December 2018.

143

Camner and Sjöblom (2009), p. 4.

144

Ibid.

145

Robert R Stoll (1961) Set Theory and Logic (Dover Publications, New York) Chapter 1.

146

Ibid., pp. 4–5.

147

Mkoloma (2015), Mbekeani (2015).

Mkoloma (2015).

Ibid.

Ibid.

Ibid.

Ibid.

Klein and Mayer (2011), p. 14.

154

Ibid.

155

Ibid.

156

Jenkins (2008), p. 8.

157

Guidelines for Mobile Payment Systems (Malaŵi, 2011).

158

Tonny K Omwansa (2009) ‘M-PESA: Progress and Prospects’ Innovations 107, p. 121, https://profiles.uonbi.ac.ke/tomwansa/files/innov-gsma-omwansa.pdf. 1 December 2018.

159

Ibid.

160

Ibid.

161

For a similar scenario in Kenya, see ibid.

162

Section 12(1) Payment Systems Act (Malaŵi, 2016).

163

Jenkins (2008), p. 8.

164

Mbekeani (2015).

165

Mkoloma (2015), Mbekeani (2015).

166

Ibid.

167

Airtel claims to have ¾ share of the mobile market—Mkoloma (2015).

CPSS (2001), p. 5.

Ibid.

Ibid.

RBM (2015), p. 10.

RBM (2016) Monthly National Payments System Report: December 2016 (Reserve Bank of Malaŵi), p. 1, https://www.rbm.mw/PaymentSystems/GetContentFile/?ContentID=12148pdf. 17 February 2018.

173

Ali and others (2014), p. 8.

174

Brian Muthiora (2015) Enabling Mobile Money Policies in Kenya: Fostering a Digital Financial Revolution (GSMA), pp. 8, 12, https://www.itu.int/en/ITU-T/focusgroups/dfs/Documents/2015_MMU_Enabling-Mobilelectronicmoney-Policies-in-Kenya.pdf. 17 February 2018.

175

Di Castri (2013), p. 8.

176

Boon‐Chye Lee and Olujoke Longe‐Akindemowo (1999) ‘Regulatory Issues in Electronic Money: A Legal‐Economics Analysis’ 1 (1) Netnomics 53, p. 63.

177

Ibid.

Adeyemi Adepetun (2015) ‘Africa’s Mobile Phone Penetration now 67%’ The Guardian, http://www.ngrguardiannews.com/2015/06/africas-mobile-phone-penetration-now-67/. 12 December 2018.

Airtel (2016) ‘Me2U’ (Airtel, Malawi), http://africa.airtel.com/wps/wcm/connect/africarevamp/malawi/home/personal/voice-and-text/phone-services/me2u. 21 May 2018.

Airtel (2017) ‘One Network Countries’ (Airtel Ghana), http://africa.airtel.com/wps/wcm/connect/africarevamp/Ghana/Home/personal/premier/one-network/PG_One-Network-Countries/. 29 May 2018.

Airtime (2016) Cambridge University Press, http://dictionary.cambridge.org/dictionary/english/airtime. 27 June 2018.

Amrik Heyer and Ignacio Mas (2009) Seeking Fertile Grounds for Mobile Money (Mobile Money for the Unbanked, GSMA, London), http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2012/03/fertile_grounds_mobile_money55.pdf. 14 February 2018.

Anon (2014) ‘Rural Population in Malawi’ Trading Economics, http://www.tradingeconomics.com/malawi/rural-population-wb-data.html. 19 May 2018.

Beth Jenkins (2008) ‘Developing Mobile Money Ecosystems’ (Washington, DC: International Finance Corporation and Harvard Kennedy School), http://ww.gsma.com/mobilefordevelopment/wp-content/uploads/2012/06/report_30_mobilemoney.pdf. 13 December 2018.

Bill Maurer (2012) ‘Payment: Forms and Functions of Value Transfer in Contemporary Society’ 30 Cambridge Anthropology 15.

Boon‐Chye Lee and Olujoke Longe‐Akindemowo (1999) ‘Regulatory Issues in Electronic Money: A Legal‐Economics Analysis’ 1 (1) Netnomics 53.

Brian Muthiora (2015) Enabling Mobile Money Policies in Kenya: Fostering a Digital Financial Revolution (GSMA), https://www.itu.int/en/ITU-T/focusgroups/dfs/Documents/2015_MMU_Enabling-Mobilelectronicmoney-Policies-in-Kenya.pdf. 17 February 2018.

‘Brief History of GSM & the GSMA’ (GSM Association), http://www.gsma.com/aboutus/history. 10 March 2018.

CF Myers and LS Crosby (1953) Principles of Electricity Applied to Telephone and Telegraph Work (American Telephone and Telegraph Company, New York).

Chipiliro Kansilanga (2015) ‘Malawi Savings Bank Finally Sold’ Daily Times (2 July 2015), http://www.times.mw/malawi-savings-bank-finally-sold-2/. 20 July 2018.

Christopher Haslett (2008) Essentials of Radio Wave Propagation (Cambridge University Press, Cambridge).

Chris Chibwana (2010) ‘The High and the Hidden Costs of Banking in Malawi’, http://chibwana.com/2010/04/05/costs-of-banking-in-malawi/. 11 March 2018.

CPSS (2001) Core Principles for Systemically Important Payment Systems (BIS, Committee on Payment and Settlement Systems), http://www.bis.org/cpmi/publ/d43.pdf. 17 February 2018.

CPSS (2012) Innovations in Retail Payments (Bank for International Settlements [Committee on Payment and Settlement Systems], Basel, Switzerland), http://www.bis.org/cpmi/publ/d102.pdf. 20 February 2018.

CU (2012) Study on Informal and Non-formal Rural Financial Services 2012 (Concern Universal Malawi), http://concern-universal.org/wp-content/uploads/2014/07/CUMO-Study-of-Rural-Finance-Summary.pdf. 7 October 2018.

David Porteous (2006) The Enabling Environment for Mobile Banking in AFRICA (Report Commissioned by Department for International Development [DFID], Boston), http://bankablefrontier.com/wp-ontent/uploads/documents/ee.mobil_banking.report.v3.1.pdf. 14 September 2018.

David Smith (2014) ‘Internet Use on Mobile Phones in Africa Predicted to Increase 20-fold’ The Guardian, (5 June 2014) http://www.theguardian.com/world/2014/jun/05/internet-use-mobile-phones-africa-predicted-increase-20-fold. 10 March 2018.

Edward W Kelley Jr (1999) ‘The Future of Electronic Money: A Regulator’s Perspective’ 34 Spectrum (IEEE), http://spectrum.ieee.org/telecom/standards/the-future-of-electronic-money-a-regulators-perspective. 14 September 2018.

Finscope (2014) FinScope Consumer Survey Malawi 2014 (Finmark Trust, Midrand, Johannesburg), http://www.finmark.org.za/wp-content/uploads/2016/08/FS-Malawi-2014-Launch-presentation.pdf. 5 May 2017.

Gabriella Mulligan (2015) ‘Is Fibre Optic Cable Key to Africa’s Economic Growth?’ BBC Business News (London, 31 March 2015), http://www.bbc.co.uk/news/business-32079649. 9 May 2018.

Gantala Hawaiju (2013) The Impact of Mobile Money Transfer Technology (Clknet Policy Brief No. 12), http://docplayer.net/14873424-Curriculum-vitae-giuseppe-travaglini.html. 11 November 2018.

Geetha Nagarajan (July 2010) ‘Money in a Pot: Has OIBM Altered Savings in Rural Malawi?’ (Financial Service Assessment), http://www.fsassessment.umd.edu/notes/savings-rural.html. 11 March 2018.

Giridaran Subramaniam (2013) ‘Mobile Money: A Theoretical Study of Alternative Media of Exchange, and an Empirical Study with Respect to M-Pesa in Kenya’ (Toulouse School of Economics), http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2278679. 15 December 2018.

GSMA (2015) The Mobile Economy Sub-Saharan Africa 2015, https://www.gsmaintelligence.com/research/?file=721eb3d4b80a36451202d0473b3c4a63&download. 12 December 2018.

GSMA (2017) ‘Brief History of GSM & the GSMA’ (GSM Association), http://www.gsma.com/aboutus/history. 10 March 2017.

Guidelines for Mobile Payment Systems (Malaŵi, 2011).

Gunnar Camner and Emil Sjöblom (2009) Can the Success of M-PESA Be Repeated?—A Review of the Implementations in Kenya and Tanzania, http://emil.sjoblom.com/pdf/M-Pesa_implementations_Ke_Tz.pdf. 15 December 2018.

Ignacio Mas and Amolo Ng’weno (2010) ‘Three Keys to M-PESA’s Success: Branding, Channel Management and Pricing’ (GSMA), http://www.www.oneapigw.gsma.com/mobilefordevelopment/wp-content/uploads/2012/06/keystompesassuccess4jan69.pdf. 15 December 2018.

Ignacio Mas and Daniel Radcliffe (2011) ‘Mobile Payments Go Viral: M-PESA in Kenya’ 32 The Capco Institute Journal of Financial Transformation 169.

Interview with Bigboy Mkoloma Product and Development Manager, Airtel Money (7 August 2015).

Interview with Webster Mbekeani Head, Mobile Money Division, TNM (20 August 2015).

ITU (2009) Information Society Statistical Profiles 2009—Africa (International Telecommunications Union), http://www.itu.int/dms_pub/itu-d/opb/ind/D-IND-RPM.AF-2009-PDF-E.pdf. 12 December 2018.

Jenny Aker and Isaac Mbiti (2010) ‘Mobile Phones and Economic Development in Africa’ 24 (3) Journal of Economic Perspectives 207, https://www.aeaweb.org/atypon.php?doi=10.1257/jep.24.3.207. 13 December 2018.

Joel Young (2009) ‘Weird & Wireless: RF “Line of Sight”’ ElectronicsWeekly (21 October 2009), http://www.electronicsweekly.com/blogs/electro-ramblings/weird-wireless/weird-wireless-rf-line-of-sight-2009-10/. 10 March 2018.

John M Senior (1951) Optical Fiber Communications (Prentice-Hall International, Inc., Upper Saddle River).

Jon Agar (2003) Constant Touch: A Global History of the Mobile Phone (Icon Books, Cambridge).

Kevin P Donovan (2012) ‘Mobile Money, More Freedom? The Impact of M-PESA’s Network Power on Development as Freedom’ 6 International Journal of Communication 2647, http://ijoc.org/index.php/ijoc/article/view/1575. 20 May 2018.

Michael U Klein and Colin Mayer (2011) Mobile Banking and Financial Inclusion: The Regulatory Lessons (Policy Research Working Paper, The World Bank), http://documents.worldbank.org/curated/en/docsearch/document-type/620265. 14 February 2018.

Mobile Phone Base Stations—How Mobile Phone Networks Work (Ofcom, 2001), http://www.ofcom.org.uk/static/archive/ra/topics/mpsafety/school-audit/mobilework.htm. 27 March 2018.

‘MoneyGram’ (MoneyGram International Limited), https://m.moneygram.com/mgomobile/site/costEstimator.html#CostEstimatorResults. 11 March 2018.

MPC (2017) ‘Financial, Retail & Agency Services’ (Malawi Posts Corporation), http://malawiposts.com/finance.html. 10 March 2018.

Nick Hughes and Susie Lonie (2007) ‘M-PESA: Mobile Money for the “Unbanked” Turning Cellphones into 24-hour Tellers in Kenya’ 2 (1–2) Innovations 63, http://www.mitpressjournals.org/doi/pdf/10.1162/itgg.2007.2.1-2.63. 15 December 2018.

Patrick M Jost and Harjit Singh Sandhu (2003) The Hawala Alternative Remittance System and Its Role in Money Laundering (Interpol), https://www.peacepalacelibrary.nl/ebooks/files/hawala.pdf. 14 February 2018.

Payment Systems Act (Malaŵi, 2016).

Peter Day (2005) ‘Mutual Benefits of Profits from Poverty’ BBC News (4 July 2005), http://news.bbc.co.uk/1/hi/business/4648049.stm. 17 February 2018.

RBM (2015) Financial and Economic Review (Reserve Bank of Malawi), https://www.rbm.mw/Home/GetContentFile?ContentID=7492. 14 December 2018.

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RBM (2017) ‘Reserve Bank of Malawi’, https://www.rbm.mw/. 24 April 2018.

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Title: Developments in Mobile Technology and the Emergence of Mobile Money
Author: Sunduzwayo Madise
Publisher: Springer International Publishing
Book: The Regulation of Mobile Money
Print ISBN: 978-3-030-13830-1

Electronic ISBN: 978-3-030-13831-8

Copyright Year: 2019
DOI: https://doi.org/10.1007/978-3-030-13831-8_3

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