While mobile money is now available in most emerging markets, active usage is still low in many of these countries. Far still, its full potential is yet to be realised in countries where usage has seen deeper penetration.
According to the GSMA state of the industry report, only about 30 percent of registered mobile money accounts are actively used globally.
“Bridging the gap between registration and active usage will require providers to design products and services that are not simply ‘great ideas,’ but truly meet the needs of end users in Uganda and across Africa,” said Innocent Kawooya the Partner, Cyberplc and CEO HiPipo.
Digital impact Awards Africa (DIAA) has introduced 3 categories to research and award innovation and excellence in the deployment of digital financial services to improve financial inclusion. These categories are:
- Best Payments/Transfers Service
- Best Online/Mobile Banking Service
- Best Mobile Money Service
For mobile money integration to deliver full digital experience, mobile money should be integrated with web payments to fuel m-commerce and e-commerce on the African continent. DIAA has 3 categories whose ultimate success is tied to the penetration and use of internet connected system and digital payment channels. These categories are
- Best E-Commerce Classifieds/Marketplace
- Best E-Commerce Store/Service
- Best E-Service
For sustainable use of digital financial services to improve financial inclusion, there has to be trust in the digital financial systems. Due to this necessity the DIAA category for Best Cybersecurity Practice will review how well our digital financial services especially those accessed through internet channels are adopting best cybersecurity practices.
“Our research will include, the state of mobile money product offerings including those integrating with web payments. We shall also research on the evolution of mobile finance solutions including mobile insurance, mobile credit and mobile savings,” Kawooya explained.
Digital Impact Awards Africa entry is open. The awards will be held on 13th August 2015 at Serena Hotel Kampala.
DIAA is proudly presented by Cyberplc and HiPipo, supported by NITA-U and leading organisations in the digital space.