Understanding Mobile Money Ecosystem: Roles, Structure and Strategies

Abstract

This paper discusses the structure of the new mobile money ecosystem and the roles of its key players. Mobile money is an evolving sector both in volume and in economic impact especially in the developing world. The paper is an exploratory study that investigates the structure of the ecosystem, providing a foundation for future strategic analysis of the system. We adopt a theoretical insight from Moore's business ecosystem theory to explain the key roles of the actors in the mobile money ecosystem. And also draw extensively from the work of Iansiti and Levien to explain the best strategies for the players in the system. We argue that to ensure sustained robustness and productivity, Mobile Network Operators (MNOs) must adopt a keystone strategy in the system. And can refrain from being dominators by encouraging new niches in the area of the m-commerce application.

How is the use of mobile money services transforming lives in Ghana?

“…MM is an evolving sector, and it has an economic impact, especially in the emerging and developing world (Tobbin, 2011). Resultantly, Africa's branchless banking or MM market has expanded and diversified in recent years (Chironga et al, 2017).…”

“…Nonetheless, since 2003 MM sector has expanded to over 32 countries in the developing world (Tobbin, 2011). Here, prior literature has extensively examined various antecedents of acceptance and post-acceptance in the mobile banking context.…”

“…Consequently, the academic research and conceptual understanding of portable devices such as mobile phones in the development of innovative mobile financial services for the underprivileged class is lagging behind the rapid pace of change on the ground (Duncombe and Boateng, 2009). Similarly, the MM as a phenomenon of interest is contemporary and scarcely researched (Tobbin, 2011).…”

Currency security and forensics: a survey

“…It is interesting to observe a lack of governance over the wide array of somewhat obscure variations [86,87,88], which may be precisely why there is an increasing array of models which are not compatible with one another.…”

Mobile Money

“…Ecosystems are the networks of organizations and individuals that must be in place in order for mobile money to function. These include mobile network operators (MNOs), banks, retailers, and government regulators, as illustrated in Figure 2 [5].They must communicate and collaborate as they seek to interact in the policy-making process [6]. MNOs come with wireless infrastructure, assets, and capabilities.…”