Banorte MiFon is a simplified account where the user links their cell phone of any company and rate plan to a bank account and transacts through SMS messages, ATMs and at select shops. Link to external site : Website for Banorte Fondo Personal MiFon |  |
| Brand | |
| Launched in | |
| Status |
Active Register/Log In |
| Launch |
2012 Jan Register/Log In |
| Importance |
Leader Register/Log In |
| Traction |
Low but Growing Upgrade to Bronze |
| Evaluation | |
| Account Type |
Branchless Banking Account Register/Log In |
| Business Model | |
| Class |
| Send | Services | Receive | ||||
|---|---|---|---|---|---|---|
 Location  Mobile |
 Account BBAccount  Card  Cash |
 |
 AT  BB Card  DMT  MP |
|
BBAccount Card Cash |
 ATM Location Mobile |
| Model |
cross-industry based Upgrade to Bronze |
| Who Leads? |
jointly led Upgrade to Bronze |
| Reach |
Subnational Upgrade to Bronze |
| Active Users |
-- NA -- Upgrade to Bronze |
| Registered Users |
-- NA -- Upgrade to Bronze |
| Potential Mobile Market (m) |
98.462 Upgrade to Bronze |
| Regulations |
| Persona | |
| Purpose | |
| Active Services | |
| Card Type |
MasterCard Register/Log In |
| ServicesDescription |
Purchases may be made at thousands of stores and P2P payments made using the cellphone. This is to ultimately connect a universe of up to 19,000 rural communities, targeting up to 5.5 million users within mobile coverage and up to 2.5 million users served through a satellite connected network. Upgrade to Bronze |
| Channels | |
| Payment Instruments | |
| Cash I/O Description |
Cash may be withdrawn at more than 6,200 ATMs Upgrade to Bronze |
| Cash I/O No Of Locations | |
| Handsets |
All handsets, all operators Register/Log In |
| Technologies |
Satellite, SMS Register/Log In |
| Interoperability |
Single bank, ANY mobile operator Register/Log In |
| RegistrationProcess |
| Main Segment | Unbanked |
| Segment Description | Specially targeted towards financially excluded rural and unbanked segments. |