Mobile Financial Services (MFS)

Sourced from IDG Connect Mobile financial services are a global game-changer with an open money network being the connection needed between the financial industry and telecom to increase both the commercial and social benefits. As the world grapples with an unprecedented crisis in the form of the COVID-19 pandemic, consumers are cautious to use cash or making a withdrawal from an ATM and agent network. This has given mobile money a new dimension as customers can make payment anywhere at any time with their mobile devices as easy as sending a text message in geographies that are normally unable to benefit from banking structures. This allows customers to seamlessly purchase products or services without having to physically hand over cash or swipe a card. The freedom to send, spend and recei...