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Grameen and Obopay plan Mobile Banking for developing nations

Mobile payments provider, Obopay has inked a deal with Grameen Solutions to deliver banking services to a billion of the world’s poorest people by 2018. The Grameen-Obopay Bank A Billion Initiative will provide access to affordable financial services, including cross-border remittances, money transfer, payments, savings and credit accounts. Cellular-News reports more.

The Economic Times of India questions: Do we need regulations for these payments or do we need technological standards than operational guidelines?  In case we need regulations and guidelines for mobile payments; we also need regulations for internet and phone banking. The lack of technology standards will give rise to a lot of local and fragmented versions of m-payments offered by different service providers or banking service providers. Standards need to address security and privacy concerns of consumers as well as interoperability between various implementations.

1 Comment to Grameen and Obopay plan Mobile Banking for developing nations

  1. Dan's Gravatar Dan
    October 3, 2008 at 6:49 am | Permalink

    Is it proven to be hacker-safe though? Not mentioned, but it would be definitely a must I think. Please emphasize in future articles or follow ups if possible.

  1. By on July 18, 2013 at 12:35 am

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