Serving the Unbanked Mobile Phone Users in South Asia

What's Next In Payments®
1:17 PM EST January 13th, 2012

January 13, 2012


70% of the population of South Asia has no access to mainstream banking. The banking penetration rate has been slow. But mobile penetration has achieved remarkable growth. For instance, mobile penetration rate stands at 86.6% in Sri Lanka, the highest among the regions of Indian Ocean/South Asia. Recognizing that the rural masses present a huge opportunity for banks and retailers, banks and telecom operators must come together to offer innovative solutions to tap into this emerging market. What are the market trends? What is the regulatory framework? What are the technology platforms? What are the mobile applications? What is the marketing outreach strategy? The Indian Ocean / South Asia Mobile Payments & Banking Summit 2012 to be held in Colombo, Sri Lanka from 31 January – 1 Feb 2012 will address the challenges, strategies and regulatory frameworks to ramp up the mobile payments infrastructure in the much overlooked region of Indian Ocean/South Asia.

The Summit will tackle the unique prospects & challenges for mobile payments in the emerging economies of Sri Lanka, India, Pakistan, Bangladesh, Nepal.  Hear strategies & out of the box ideas that can spearhead mobile adoption surpassing Philippines, Brazil & Kenya. Case studies of Easy Paisa, Global Desi, SMS based bill payments & micro credit transfers amongst others will be presented.

The Summit will be a converging point for key players from the telecommunication, information technology and banking sectors to come together and share new insights. 

Speakers at the Summit include top representatives fromCentral Bank of Sri Lanka, Pakistan Telecommunication Authority, Bharti Airtel, Etisalat Lanka, Bangladesh Bank, CityCell, Sampath Bank PLC, Nepal Telecom, , ICICI Bank, LIRNEasia, MCB Bank, Dhanlaxmi Bank, etc.

The Summit is supported by the Electronic Money Association, Prepaid International Forum, SIMalliance, Mobile Entertainment Forum and Global Platform.

TimesofMoney, a leader in digital payment solutions and Analogics Tech. India Ltd, a turnkey solution provider, are the Associate Sponsor and Participating Sponsor of the Summit respectively.

The CEO of the conference organizing company, Magenta Global Pte Ltd, Singapore, Ms Maggie Tan, said: “ The growing trend towards mobile banking cannot be ignored. South Asia with its huge untapped rural masses must capitalize on its potential. How to access banking securely and conveniently with the mobile phone is key to its growth. The partnership between cellular operators and banks will provide unparalleled revenue opportunities.”

She further added “Coupled with the increasing popularity of iphones, Ipads & blackberrys, demand for mobile content and apps can only explode. All stakeholders must pepare to catch the waves”.

The event will be held at Ramada Colombo.

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