At the Mobile 360 – West Africa event, the GSMA announced the launch of the GSMA Mobile Money Certification, a global scheme for mobile money providers to offer safer, more transparent and more resilient financial services to millions of mobile money users around the world. The certification relies on an independent assessment of a mobile money provider’s ability to deliver secure and reliable services, to protect the rights of consumers and to combat money laundering and terrorism financing. The certification is designed to enhance consumer trust and accelerate commercial partnerships by setting a high bar to which all providers can aspire.
“The GSMA Mobile Money Certification is a consumer-focused initiative, aimed at giving customers confidence that a provider has taken steps to ensure their funds are in safe hands, their rights are protected and they can expect a high level of customer service,” said John Giusti, Chief Regulatory Officer, GSMA. “With over 690 million accounts globally, the mobile money industry is having a clear impact on the global effort to expand financial inclusion, providing access to life-enhancing financial services and serving as a gateway to the digital economy. Mobile money is directly advancing 13 of the 17 Sustainable Development Goals by facilitating access to essential services such as health and education, providing employment opportunities and reducing poverty.”
The certification scheme follows a three-year consultative process led by the GSMA, which worked together with providers in Africa, Asia and Latin America to understand the challenges of their business and assemble best practices from these markets.