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Promoting Mobile Money Adoption


Mobile money’s promise lies in its potential to deliver financial services cheaply and easily to groups who traditionally have less access to formal financial tools including women and the poor. Yet most of the times the groups most in need of these formal financial tools are the most reluctant in adopting new mobile technology.

The reasons for not adopting digital solutions are mostly due to the fact that these groups do not have the required education level or the know-how to use such products. Hence, their skepticism when it comes to transitioning from cash to digital solutions. Yet most of the younger generation is very adept at using mobile technology. In fact in most families the youth is the one that is driving the adoption of mobile technologies particularly in South-Asia.

Therefore, in order to increase mobile money adoption first of all the financial providers have to devise specific offerings that help to address specific needs of the participants other than sending and receiving money. For example using mobile money to pay school is one such example where the digital service offered will help to address the need of customer.

Secondly, devise campaigns and promotions targeted specifically towards younger generation, who are instrumental in helping their families shift towards new digital technologies and their subsequent use.

As most of the target customers are illiterate, it is extremely important that they be given all the human support and confidence necessary in order for them to transition towards this new mobile technology.

As social, educational and other barriers to adoption persist, personal support builds trust, confidence, and over time, habits. With greater emphasis put on scaling digital financial services, having a cadre of people on the ground to support the change will be important.

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