Mobile Money in India–Where now?

With the RBI regulations having been announced in May 2010, we believed all was well for Mobile Money in India. Will the cancellation of 2G licenses distract from the progress made?

Mobile Commerce and Branchless Banking are seen as big domestic plays, with various industries and sectors geared up to promote them.

With Financial regulations playing such an important role for mobile financial services, it is easy to forget the twin role of Telecoms regulations, and take for granted fundamentals such as Telecoms licenses issued years ago. Regulatory Certainty is a necessary condition for the nascent industry to grow and deliver benefits to the Indian consumer.

Yet it is Telecoms regulations that may now distract from the grand progress made by the innovative banks that are already live on National Payments Corp. of India (NPCI)’s  IMPS and the initiatives from Airtel, mChek, NG Pay, Paymate, Nokia and others. Let us hope the resilient telecoms industry finds a quick resolution for this!

Related link: India hangs up on investor confidence

This entry was posted in Branchless Banking by Charmaine Oak. Bookmark the permalink.

About Charmaine Oak

Charmaine Oak is the practice lead for Digital Money at Shift Thought. She has over 27 years of experience of creating and delivering solutions to market. Her skills and experience are at the intersection of mobile, banking and payments. She brings a unique perspective, having contributed to significant ventures at leading global companies: Western Union - one of the world’s largest financial brands, France Telecom/Orange – a leading mobile operator, Royal Bank of Scotland – a leading bank, LogicaCMG – the Pioneer in SMS and Wipro – one of the world's largest IT service providers.

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