1. IFC Mobile Money Study 2011 : Sri Lanka
- Author
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International Finance Corporation
- Subjects
MASS MARKET ,PERMANENT MAILING ADDRESS ,SAVINGS BANK ,CURRENT ACCOUNTS ,SOURCE OF FUNDS ,DEPOSIT ,ATMS ,BLACK MARKET ,BROAD ACCESS ,CREDIT CARD ,BALANCE INQUIRIES ,CASH PAYMENTS ,NEW COMPANY ,E-PAYMENTS ,NONBANKS ,PENETRATION RATE ,INCOME ,ADVERTISING ,ACCESS TO BANK ACCOUNTS ,URBANIZATION ,BANK OF THAILAND ,REGULATORY ENVIRONMENT ,GOVERNMENT PENSION ,REGULAR PAYMENTS ,POINT-OF-SALE ,MASS TRANSIT ,MEDIUM ENTERPRISES ,BUSINESS DEVELOPMENT ,DEVELOPMENT BANKS ,CALL CENTER ,EARNINGS ,BANK ACCOUNTS ,RESPONSIBILITIES ,WEB SITES ,INCOMES ,METROPOLITAN AREAS ,POINT OF SALE ,DEPOSITS ,NEW BUSINESS ,REMITTANCE ,SOCIOECONOMIC DATA ,INTERNATIONAL FINANCE ,VARIABLE COSTS ,AUTOMATED TELLER MACHINES ,BANKING FEES ,DEBIT CARDS ,SMALL BUSINESSES ,RETAIL SAVINGS ,BANKING INDUSTRY ,SERVICE PROVIDER ,STATE BANKS ,TRANSACTION FEE ,ID ,MICROFINANCE INSTITUTION ,ACCESS TO FINANCIAL SERVICES ,MARKETING STRATEGY ,TRADITIONAL BANKING ,SPECIALIZED BANKS ,FINANCIAL SERVICES ,ACCOUNT HOLDERS ,FINANCIAL LITERACY ,MERCHANTS ,CONSUMERS ,MONEY ORDERS ,MICROCREDIT ,EMPLOYEE ,ATM PENETRATION ,BANK ACCOUNT ,REGISTRATION PROCESS ,AUDITS ,INFORMAL LOANS ,WHITE-COLLAR WORKERS ,KNOWLEDGE LEVELS ,PREMIUM RATE ,START-UP ,FORMAL FINANCIAL SECTOR ,BANK CHARGES ,MONTHLY INCOME ,AVERAGE EXCHANGE RATE ,BARRIERS TO ENTRY ,FINANCIAL POSITION ,MONIES ,REGULATORY FRAMEWORK ,FINANCIAL SYSTEM ,LIABILITY ,FINANCIAL INSTITUTIONS ,BALANCE INQUIRY ,ECONOMIC ACTIVITIES ,MONTHLY PAYMENTS ,HOUSEHOLDS ,BANKING SERVICES ,BUSINESS MODELS ,MEDICAL BILL ,PUBLIC TRANSPORT ,BANKS ,CONSUMER ,UNION ,MARKETING EFFORT ,MOBILE PHONE ,LOAN ,RISK PROFILE ,SECURITIES ,MARKET SHARE ,MICROFINANCE ,INCOME GROUPS ,DEVELOPMENT BANK ,BUSINESS OPPORTUNITIES ,MONEY ORDER ,SUBSIDIARY ,ADVERTISEMENTS ,CASH WITHDRAWAL ,MONEY TRANSFER ,SOCIOECONOMIC BACKGROUNDS ,CREDIT CARD COMPANY ,TELECOMMUNICATIONS EQUIPMENT ,PENSION ACCOUNTS ,SMALL FARMERS ,STARTUP CAPITAL ,DEBIT CARD ,START-UP CAPITAL ,FAMILY BANK ACCOUNTS ,DEPOSITORS ,MASS MEDIA ,SMART CARD ,CREDIT CARD PAYMENT ,GOVERNMENT PENSIONS ,LACK OF AWARENESS ,NEW TECHNOLOGIES ,MARKET SEGMENTS ,CREDIT MARKET ,GENDER ,SUPPLY CHAIN MANAGEMENT ,TRANSACTION ,BANKING SERVICE ,LABOR FORCE SURVEY ,SOCIAL WELFARE ,FINANCIAL DATA ,BANKING SYSTEM ,EDUCATION LEVELS ,SMART CARDS ,FAMILIES ,CUSTOMER BASE ,CREDIT CARDS ,DEPRECIATION ,ELECTRONIC PAYMENT ,LIVING STANDARD ,FINANCIAL SECTOR ,ACQUISITION COSTS ,STAKEHOLDERS ,MONEY SOLUTION ,SALE ,LICENSES ,SOURCE OF INFORMATION ,BANK BRANCH ,LOAN PAYMENTS ,REGIONAL DEVELOPMENT BANKS ,SAVINGS ACCOUNTS ,RELIABILITY ,BUSINESS OPPORTUNITY ,INFORMATION SERVICES ,USERS ,ACQUISITION COST ,GOVERNMENT BANKS ,PAYMENT SYSTEMS ,CREDIT CARD USE ,PAYMENT SERVICES ,RETAIL BANKING ,MOBILE ACCESS ,MAJOR BANKS ,TELLERS ,MERCHANT ,AFFILIATES ,TRANSACTIONS COST ,BANKING SECTOR ,E-GOVERNMENT ,LEVEL OF EDUCATION ,CAPITAL ADEQUACY ,UTILITY BILL ,INEQUALITY ,MARKETING ,ECONOMIC DEVELOPMENT ,FINANCIAL PRODUCTS ,ACCESS TO FINANCE ,CHECKING ACCOUNTS ,INVESTMENT ADVICE ,INCOME GROUP ,CENTRAL BANK OF SRI LANKA ,ELECTRONIC ACCOUNTS ,PURCHASES ,SAVINGS ACCOUNT ,INSURANCE PREMIUM ,FORMAL FINANCIAL SERVICES ,COMMERCIAL BANK ,PRINT MEDIA ,SALARY ,BANK SERVICES ,REMITTANCES ,REPAYMENTS ,LOW COST ,USER ,PROBABILITY ,BUSINESS MODEL ,CELL PHONES ,INSURANCE ,SUPPLY CHAIN ,CONSUMER FINANCE ,CURRENT ACCOUNT ,MIGRATION ,FINANCIAL INTEREST ,MICROFINANCE INSTITUTIONS ,BANK BRANCHES ,TRANSACTIONAL ACCOUNTS ,INTERNATIONAL LAW ,FINANCIAL ACCESS ,LEGISLATION ,COMMERCIAL BANKS ,MONEY MARKET ,NEW ENTRANTS ,MATERIAL ,EXPATRIATES ,MICROINSURANCE ,LOAN REQUESTS ,SOCIAL WELFARE PROGRAM ,LEVEL OF KNOWLEDGE ,CASH WITHDRAWALS ,IDENTITY DOCUMENTS ,LABOR FORCE ,SAVINGS ,UTILITY BILLS ,ADB ,MARKET SHARES ,OUTREACH ,QUERIES ,ATM ,URBAN AREAS ,DEPOSIT BALANCE ,ADVISORY SERVICES - Abstract
Sri Lanka's population is still largely rural, nearly 85 percent lives outside of cities. There will probably be rural-to-urban migration in the future, which represents a potential opportunity to m-money providers. People working in cities often wish to repatriate their savings to their rural families conveniently and at a low cost. Income is fairly evenly spread across Sri Lanka s provinces, with the exception of the Western Province where Colombo, the largest city, is situated. Its GDP per capita places Sri Lanka near the average of comparable Southeast Asian countries. Malaysia is clearly an outlier with a considerably higher GDP per capita, but Sri Lanka s GDP is higher than that of the Philippines, where m-money has taken off dramatically. Poverty is less of a problem in Sri Lanka relative to countries like Bangladesh or Cambodia, where GDP per capita is much lower. The key point is that Sri Lanka is at a different stage in its economic development and is unlikely to have the same socioeconomic conditions that made m-money in Kenya accelerate so rapidly.
- Published
- 2011