Money on mobile phones, in Sri Lanka

Posted on June 27, 2013  /  0 Comments

LIRNEasia has always been vocal on Mobile Payment/Mobile money. Under the research theme Mobile 2.0 we looked at both horizontal (Telco and regulations)  and vertical (m-payments) aspects of mobile money.

In 2009 facilitated by LINREasia, LIRNEasia‘s then Senior Policy Fellow Muhammad Aslam Hayat, wrote on the possibilities of having mobile money in Sri Lanka

Dialog, after many years of negotiations with the regulators, implemented  ez Cash in June 2012.

Now after only an year in business,  ez cash is showing signs of growth.

Daily eZ Cash transactions by March 2013 (excluding money transfers and withdrawals), topped Rs8 million a day. The better than expected take-up has encouraged Dialog to raise expectations. “By year-end (2013) I would want to triple this,” points out Fariq Cader who is Senior General Manager, New Business Development and Mobile Commerce at Dialog Axiata, a position he took up in early 2010

Teleuse at Bottom of the Pyramid4 survey that was conducted in 2011, shows that 89.3 percent of the low income teleusers, own/have access to a bank account. This is the highest among the countries that the survey covered (As a percentage of T@BOP teleusers Bangladesh – 30.9,  Pakistan 9.9, India 47.3 and 85.2  in Thailand). The Survey on urban BOP micro-entrepreneurs (ME) conducted by LIRNEasia in 2013, found that 70 percent of the MEs have bank accounts.

Click here for the full Echelon, Sri Lanka article.

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