This time the focus is on Africa. There have been some major moves by governments in Kenya and Nigeria regarding mobile cash transfer policy. The Central Bank of Nigeria decided to regulate the quantity of cash in circulation by encouraging the use of electronic payment channels, one of them being mobile payments. In Kenya, Prime Minister’s office recommended mobile operators to set up shared cash transfer platform for facilitating money transfers across rival networks. The aim of these initiatives is to bring the costs down and make the technology more affordable. M-PESA handles about 70 percent of money transactions in Kenya now, and the price of these transactions is still high for the majority of the population. So the involvement of government here is quite beneficial both for the market and end-users.

All these tendencies lead to the choice of suitable technology. In particular, what can serve as an affordable, reliable, easy-to-implement solution for shared platform in Kenya? Eyeline Financial Service Delivery Platform (FSDP). Why?

1. Different scenarios are used that ensure delivery of transactions.

2. Based on reliable communication channels – USSD and SMS.

3. Provides security mechanisms that don’t affect user experience.

4. As a result of using USSD technology user experience is one of the best possible on mobile phones.

Money transaction is a delicate issue. Simply put, a transaction should be made at all costs. That’s one of the things FSDP is good at. For example, during the process of a transaction something goes wrong and USSD message is not delivered either from user to service or vice versa. The core of FSDP system – Rule Engine can automatically detect that and send SMS message instead. SMS message can be then stored on a SMS Center if a user is suddenly out of range or a phone is turned off. These basic scenarios are already implemented, but you can create your own to make sure that transaction is completed.

This is just one aspect of Financial Service Delivery Platform. Learn more and contact us at info@eyeline.mobi. Don’t forget to read this blog for more information.

[photo: flickr/imtfi888]