Is Mobile Money Part of Money? Understanding the Trends and Measurement
Is Mobile Money Part of Money? Understanding the Trends and Measurement

Author: Ms. Kazuko Shirono

Publisher: International Monetary Fund

Published: 2021-07

Total Pages: 41

ISBN-13: 1513587854

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The rapid uptake of mobile money in recent years has generated new data needs and growing interest in understanding its impact on broad money. This paper reviews mobile money trends using mobile money data from the Financial Access Survey (FAS) and examines the statistical treatment of mobile money under the IMF’s Monetary and Financial Statistics (MFS) framework. MFS guidance is straightforward in most cases, as many jurisdictions have adopted regulations which ensure that mobile money is captured in the banking system and thus in the calculation of broad money. However, in cases where mobile network operators (MNOs) act as niche financial intermediaries outside the banking regulatory perimeter and are allowed to invest their customer funds in sovereign securities and other permitted assets, mobile money liabilities may remain outside the banking system as well as monetary statistics. In that case, information on mobile money liabilities need to be collected directly from MNOs to account for mobile money as part of broad money.

The Global Findex Database 2017
The Global Findex Database 2017

Author: Asli Demirguc-Kunt

Publisher: World Bank Publications

Published: 2018-04-19

Total Pages: 228

ISBN-13: 1464812683

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In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

The Rise of Public and Private Digital Money
The Rise of Public and Private Digital Money

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2021-07-29

Total Pages: 33

ISBN-13: 1513592033

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Following the companion paper on the new policy challenges related to the adoption of digital forms of money, this paper presents an operational strategy for the IMF to continue delivering on its mandate of ensuring domestic and international financial and economic stability. The paper begins by summarizing the forces driving the adoption of digital forms of money, and the new policy questions that emerge. It then focusses on how the IMF’s core activities and output will need to evolve, including surveillance, capacity development, and analytical foundations. It ends by discusses how the IMF intends to partner with other organization, and to grow and structure internal resources to fulfill this vision.

Cash Use Across Countries and the Demand for Central Bank Digital Currency
Cash Use Across Countries and the Demand for Central Bank Digital Currency

Author: Mr.Tanai Khiaonarong

Publisher: International Monetary Fund

Published: 2019-03-01

Total Pages: 43

ISBN-13: 1484399609

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The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more convenient than traveling to an ATM, it only makes CBDC like a bank debit card—not better. Demand for digital currency will thus be weak in countries where cash use is already very low, due to a preference for cash substitutes (cards, electronic money, mobile phone payments). Where cash use is very high, demand should be stronger, due to a lack of cash substitutes. As the demand for CBDC is tied to the current level of cash use, we estimate the level and trend in cash use for 11 countries using four different measures. A tentative forecast of cash use is also made. After showing that declining cash use is largely associated with demographic change, we tie the level of cash use to the likely demand for CBDC in different countries. In this process, we suggest that one measure of cash use is more useful than the others. If cash is important for monetary policy, payment instrument competition, or as an alternative payment instrument in the event of operational problems with privately supplied payment methods, the introduction of CBDC may best be introduced before cash substitutes become so ubiquitous that the viability of CBDC could be in doubt.

Monetary and Financial Statistics Manual and Compilation Guide
Monetary and Financial Statistics Manual and Compilation Guide

Author: Mr.Jose M Cartas

Publisher: International Monetary Fund

Published: 2017-11-09

Total Pages: 450

ISBN-13: 1513579193

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This edition of Monetary and Financial Statistics Manual and Compilation Guide (Manual) updates and merges into one volume methodological and practical aspects of the compilation process of monetary statistics. The Manual is aimed at compilers and users of monetary data, offering guidance for the collection and analytical presentation of monetary statistics. The Manual includes standardized report forms, providing countries with a tool for compiling and reporting harmonized data for the central bank, other depository corporations, and other financial corporations.

World Development Indicators 2015
World Development Indicators 2015

Author: World Bank

Publisher: World Bank Publications

Published: 2015-04-10

Total Pages: 171

ISBN-13: 1464804419

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World Development Indicators 2015 World Development Indicators 2015 provides a compilation of relevant, highquality, and internationally comparable statistics about global development and the fight against poverty. It is intended to help policymakers, students, analysts, professors, program managers, and citizens find and use data related to all aspects of development, including those that help monitor progress toward the World Bank Group’s two goals of ending poverty and promoting shared prosperity. Six themes are used to organize indicators—world view, people, environment, economy, states and markets, and global links. As in past editions, World Development Indicators reviews global progress toward the Millennium Development Goals (MDGs) and provides key indicators related to poverty. WDI 2015 includes: * A selection of the most popular indicators across 214 economies and 14 country groups organized into six WDI themes * Thematic and regional highlights, providing an overview of global development trends * An in-depth review of the progress made toward achieving the Millennium Development Goals * A user guide describing resources available online and on mobile apps A complementary online data analysis tool is available this year to allow readers to further investigate global, regional, and country progress on the MDGs: data.worldbank.org/mdgs. Each of the remaining sections includes an introduction; six stories highlighting specific global, regional or country trends; and a table of the most relevant and popular indicators for that theme, together with a discussion of indicator compilation methodology. WDI DataFinder Mobile App Download the WDI DataFinder Mobile App and other Data Apps at data.worldbank.org/apps. WDI DataFinder is a mobile app for browsing the current WDI database on smartphones and tablets, using iOS, Android, and Blackberry, available in four languages: English, French, Spanish, and Chinese. Use the app to: * browse data using the structure of the WDI * visually compare countries and indicators * create, edit, and save customized tables, charts, and maps * share what you create on Twitter, Facebook, and via email

The Real Effects of Mobile Money: Evidence from a Large-Scale Fintech Expansion
The Real Effects of Mobile Money: Evidence from a Large-Scale Fintech Expansion

Author: Manasa Patnam

Publisher:

Published: 2020-07-24

Total Pages: 36

ISBN-13: 9781513550244

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Mobile money services have rapidly expanded across emerging and developing economies and enabled new ways through which households and firms can conduct payments, save and send remittances. We explore how mobile money use can impact economic outcomes in India using granular data on transactions from Paytm, one of the largest mobile money service provider in India with over 400 million users. We exploit the period around the demonetization policy, which prompted a surge in mobile money adoption, and analyze how mobile money affects traditional risk-sharing arrangements. Our main finding is that mobile money use increases the resilience to shocks by dampening the impact of rainfall shocks on nightlights-based economic activity and household consumption. We complement these findings by conducting a firm survey around a phased targeting intervention which incentivized firms to adopt the mobile payment technology. Our results suggest that firms adopting mobile payments improved their sales after six-months of use, compared to other firms. We also elicit firms' subjective expectations on future sales and find mobile payment adoption to be associated with lower subjective uncertainty and greater sales optimism.

Oversight Issues in Mobile Payments
Oversight Issues in Mobile Payments

Author: Tanai Khiaonarong

Publisher: International Monetary Fund

Published: 2014-07-15

Total Pages: 35

ISBN-13: 1498331572

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This paper examines oversight issues that underlie the potential growth and risks in mobile payments. International experience suggests that financial authorities can develop effective oversight frameworks for new payment methods to safeguard public confidence and financial stability by establishing: (i) a clear legal regime; (ii) proportionate AML/CFT measures to prevent financial integrity risks; (iii) fund safeguarding measures such as insurance, similar guarantee schemes, or “pass through” deposit insurance; (iv) contingency plans for operational disruptions; and (v) risk controls and access criteria in payment systems. Such measures are particularly important for low-income countries where diffusion is becoming more widespread.

The Promise of Fintech
The Promise of Fintech

Author: Ms.Ratna Sahay

Publisher: International Monetary Fund

Published: 2020-07-01

Total Pages: 83

ISBN-13: 1513512242

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Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.