The growing popularity of mobile money, or financial activities via...
The growing popularity of mobile money, or financial activities via cellphone, in the East African Community (EAC) requires rules to coordinate and harmonize regulations, said a U.N. Conference on Trade and Development study (http://xrl.us/bnbvk7). UNCTAD also recommended building trust and…
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confidence in the mobile money system and addressing a variety of rising concerns including consumer protection and registration and transaction limits. The EAC leads the world in mobile money services, with three of its platforms providing service to over 1 million people, UNCTAD said. Mobile money services provide the primary financial services in a region where most people have difficulty reaching formal financial services, it said.