UAE Exchange Sees Collaboration in Mobile Money Transfer Market as Key to Growth
Summary
But it is the regulatory environment around the realisation of actual funds for remittance that causes us the biggest problem.” Convenience ultimate decider for end user The UAE Exchange’s Sumit Bakshir says ultimately, the mobile money end user will be drawn by the convenience of it: “Initial acceptance or rather initial trials can be built on the novelty factor of the service.If they can actually see that it is more convenient than me zipping out my wallet and paying, then only will they stick to it.” Connected World Forum More than a thousand lifeline services experts are gathering in Dubai for the Connected World Forum, incorporating Mobile Money Global and Mobile Health Global, from 19-22 November in Dubai.Mr Bakshi is a leading expert speaker at the upcoming Connected World Forum taking place from 19-22 November in Dubai.Mr Bakshi believes that the industry is still in an exploratory phase and that “right now, all across the entire spectrum of launches there is only one, M-Pesa, which can be really called successful.”He continues: “the problem right now that we are seeing is that most people are trying to do everything by themselves.But we think there is room for a third party led model like us who have experience of handling retail financial services, and who have very strong ground presence.