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m:lab Wireless Wednesday on Mobile Money (3 posts)

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  • Profile picture of Simeon Oriko Simeon Oriko said 1 year, 10 months ago ago:

    m:lab East Africa held a focus-group discussion on Mobile Money on 20th July 2011. The discussion was led by Mr. Tonny Omwansa, a researcher at the University of Nairobi who is currently writing a book on the Mobile Money industry.

    The talking points we’re as follows:

    Bottom of the Pyramid (BoP) is where to start on Mobile Money
    Most Mobile Money flows within family units or among friends so products for individuals will not fly.
    Without proper execution, the product will not fly – however superior the product is
    Solve Global problems using local context – not the other way around.

    We’ve posted this here to continue the discussion on the topic.

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  • Profile picture of Caro Muchai Caro Muchai said 1 year, 10 months ago ago:

    I specifically liked the discussion on factors to consider when you want your product to be easily adopted by your target market:

    1.   Triability: how likely and often will the user try out your product/service?

    2.   Transaction cost: consumers are more interested in a cheaper alternative, is yours the alternative?

    3.   Trust : a combination of trust and competence

    4.   Facilitating conditions: how easy is it to learn a product?

    5.   Social Influence:  how likely is user to copy what someone else is doing, in this case using your product?

    6.   Performance acceptance: what value does the application add to the end-user? Before diving into development, ask yourself 5 value-adding questions for your user? What are they?

     

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  • Profile picture of Whive.Com Whive.Com said 1 year, 10 months ago ago:

    That was a great discussion yesterday, my main question was on the impact of mobile money on social connectedness or social trust. In my experience I find M-PESA has exerted additional pressure on my financial life because it makes it easier for disbursement of money to people be they relatives, creditors, friends e.t.c As such it could be the case that it could affect the social bonds between people in the long run resulting in people becoming averse to such technologies.

    Do you guys have similar experience?

    I think commercialization of MPESA in the future with innovative products should help restore balance on mobile money platforms.

     

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