A presentation on

Developing Countries Are Revolutionizing Mobile Banking

Presented By:Tanvirul Hakim

What is MFS

Mobile financial services is a term used for performing, financial transactions, financial payments, balance checks and other banking transactions through a mobile device such as mobile phones.

First MFS in UK On February 16, 2012,

Barclays of U.K. launched Pingit, a service that lets people send and receive money using a Smartphone.

- Pingit isn’t the first innovation in mobile banking

- Developing countries already use this phenomenon

Inter-Bank Mobile Payment Service (IMPS) in Developing Countries

• M-Pesa in Africa

• NPCI in India

• Bkash in Bangladesh

Reasons behind the necessity of MFS in India

• Large un-banked population

• 840+ million mobile subscribers

• Fast & easy to Serve • Available banking

services in 24/7

• Convenient to use • Nationwide & Affordable• Secure & safe • Performed by the

customer

How MFS Work

Products of MFSMode of Transaction Name of Products

Person to Person (P2P) Mobile Banking

Money Transfer (Cash Receive or Send) P2P

Person to Business (P2B) Mobile Banking

Cash Out to Agent A/C, Merchant payments

Business to Business (B2B) Mobile Banking

Bill payments, Cash-on-delivery payments, Corporate cash management

Business to Person (B2P) Mobile Banking

Cash In (Receive from Agent), Receive from International remittance

Perspective: Bangladesh • Since 2011, mobile financial services (MFS) had proved

to be the finest integration of finance and technology in Bangladesh.• where only 29.1% of adult population had access to

financial services, whereas 78% of the total population possessed mobile phones. • Bangladesh Bank has allowed 28 banks to offer MFS • In which 19 banks have already start their journey

Market share of leading MFS company February 2015

58%17%

9%

8%

3%6%

bkash

DBBL

mCash

Ucash

MYCash

Others

Transactions share as of February 2015In USD Millions

0%

42%

37%

19%1% 1% 1% Inward Re-

mitance

Cash In

Cash Out

P2P

B2P

Utility P2B

Others

Last Day’s Prothom-alo