Essays on Mobile Money Feasibility Case Study

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The paper "Mobile Money Feasibility" is a perfect example of a business case study. Innovation opportunities in the business world are infinite. The telecommunication industry has also grown in most countries and still has multiple opportunities for more growth. The trend of technological growth has left most companies struggling as they embark to meet customer satisfaction goals, sustain growth and remain profitable. Australia economic growth has been witnessed through its financial services sector in recent years. This remarkable growth has been enabled by the transactions rate customers assume in the global enterprising era.

An innovative mobile money payment will provide a solution to the fastest growing service in Australia. It will augment the existing conventional systems of money transactions, depositing and usage. Customers are highly demanding services that are matched with their day-to-day activities and using the available technology, of which M-Money responds to. The service is strategically relevant and will further use a strategic approach in its launching and development to promote high adoption. The customers will find it useful as it reduces the actions of the complex transactions that have for long been involved with most financial institutions.

M-Money current relevant capabilities will promote competitive advantages as it is a presently successful and innovative solution that customers will find friendly and efficient. The process for its success will immensely be shaped by launch program, technology management as well as the organization operations in client management and service development. The service will target some key highlighted goals such as having active customers, enlarged market share, strong service with millions of registered users, high revenue market share and profit turnover. Services Description Mobile Money Transfer is a recent mobile payment system which is extensively being used for fast money transfer through the use of mobile phones.

It has been successfully used in East and South Africa, India among others. The service provides quick money sending, withdraw, airtime top-up, bill payment, paying for goods and real-time access to a personal account. The service provider, primarily, a telecommunication company activates an account for the customers after providing the personal details. A personal identification number (P. I.N. ) is then given to secure transactions. The company then operates through established outlets in various parts where one can deposit money, withdraws or sends to another person through agents.

These agents may be independent people operating a different business like pharmacies, foodstuffs and other business but alongside they offer the mobile money transaction with agreed terms with the company (Mas & Morawczynski 2009, p. 78). As Pickens (2009, p. 1) argues, the service then provides the customers with timely access to money when in need and promotes an efficient way to pay bills like electricity, water and other services offered by multiple companies. The service is also used by shops, malls, transport services companies and restaurants to allow their customers to deposit the money to their mobile money accounts.

Media houses, employers and other temporal business operators also use it for sending promotional rewards, payment and other monetary transactions. Network coverage allows the service to be quick as within less than a minute transaction carried out and both the sender and the receiver updated. A person can deposit as much money as allowed by the company. The person carrying out a transaction, whether withdrawal, deposit and sending of money then produces the Identification Number, usually the national ID to confirm the account details with the person.

References

Jack, W & Suri, T 2011, Risk sharing and transaction costs: Evidence from Kenya’s mobile money revolution’. Working paper.

Jordan, C & Jain, A 2009, Diversity and resilience: lessons from the financial crisis. University New South Wales Law Journal, 32.

Lowe, P 2013, Australia and the World. Labour Market Turnover and Mobility 1 Dwelling Prices and Household Income 13 Households’ Interest-bearing Assets 23 India’s Services Exports 33 Australian OTC Derivatives Markets, 97.

Mas, I & Morawczynski, O 2009, Designing mobile money services lessons from M-PESA. Innovations: Technology, Governance, Globalization, 4(2), 77-91.

Merritt, C 2011, Mobile money transfer services: The next phase in the evolution of person-to-person payments. Journal of Payments Strategy & Systems, 5(2), 143-160.

Pickens, M 2009, Window on the unbanked: Mobile money in the Philippines.

Schwab, K, et al 2009, The global competitiveness report 2009–2010. World Economic Forum.

Tarazi, M & Breloff, P 2010, Nonbank e-money issuers: regulatory approaches to protecting customer funds. Focus Note, 63.

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