Mobiles for Development: the case of Banking Poverty and Access in Latin America
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1 Mobiles for Development: the case of Banking Poverty and Access in Latin America Judith Mariscal 1 CONTENTS 1. Underserved Population in Latin America. 2. Mobile opportunities Survey: Key Results 3. M - Banking 4. Conclusions 2 1
2 Unserved Population in Latin America: different dimensions 3 ICT Opportunities The expansion of the economies based on information and knowledge have two sides of the coin. They offer a window of opportunities for the poor in new productive processes DOI, NRI and PIB per capita for some countries, 26 Source: ITU and Harvard University. 4 2
3 Divides in LA Or they can increase the economic and social divides if few points of access are provided for the poor. Digital Opportunities Index (DOI) and Network Readiness Index (NRI) for some countries, 26 Latin American countries still lag behind with respect to countries that have implemented successful ICT strategies Korea Ireland Chile Spain India Mexico Brazil Argentina Peru nri doi Source: ITU and Harvard University. 5 Cost of access to ICT as a % of income per capita Accessibility is a key variable to explain low penetration levels in LA. Mobile tariffs represent 9% of income per capita in LA, while in other countries is less than 1% Mobile Telephone lines per 1 hab Honduras; 16.% Peru; 17.% Mexico; 2% Argentina; 3% Singapore;.6% Korea;.4% Canada.3% Germany;.8% Fixed Telephone Lines per 1 hab Fixed, Mobile teledensity and tariffs as % Income per capita (25) Internet tariffs represent 12% of income per capita, while in developed countries is 1%. Internet suscribers Bb per 1 hab Source: CEPAL, 27 Germany;.7% Guatemala; 25.% Chile; 4.% Argentina; 5.% Bolivia; 22.% Internet Users per 1 hab. Bb. Internet Subscribers per 1 hab., Internet users per 1 hab. and tariffs as % Income per captia (25) 6 3
4 Government vs. Market solutions Public and Private Telecenters in LA (26) Market initiatives appear to have a larger scale impact Country Governme nt TC Private TC Total TC Proportion of Gov. TC over the total Potential users for each TC Argentina 9,555 2,647 3,22 32% 889 Bolivia 1,34 5,164 6,198 17% 2,423 Public initiatives have had a limited impact given its potential demand Brazil Chile Costa Rica Mexico 9,976 1, ,171 1,178 5, ,765 11,154 6,198 1,199 19,936 89% 17% 4% 6% 8,143 3,454 2,238 1,3 Peru Source: CEPAL 26 73% 1,17 7 Potential Demand Despite the low ICT penetration in poor areas, ICT users spend a significant amount of money on ICT. Mexico: % of income spent on ICT by location size (25) less than 25 inhab inhab. More than Source: INEGI (27) Percentage of income spent on ICTs is growing, old rule of thumb was 2.5 percent. Today we find up to 1 percent. 8 4
5 Low Income groups have a growing access to mobile Mexico: Mobile penetration by SEL (25) Mobile phones have rapidly spread among the lowest socioeconomic levels (D and E) ABC+ CD+ DE 9% 43% 85% 23 Business opportunities at the BoP. AB C+ C D+ DE 27% 42% 89% 25 67% 75% Source:Bonina, Piedras and Verut (26) 9 Mobile Opportunities Survey by DIRSI -Key Results- 1 5
6 RESEARCH QUESTIONS Mobile users vs. owners Patterns of Use Key Access Strategies Value of Use Reasons for not being a user 11 METHODOLOGY 7 LAC countries total of 7168 surveys low income urban inhabitants 12 6
7 Users Vs. Owners most people in LAC are USERS and OWNERS (%) M e x i c o B r a z il P e r u A r g e n t i n a T & T C o l o m b i a J a m a ic a O w n e r s U s e r s 13 Typical Basket Usage Most users in LA make less than one call a day, while outgoing call levels are higher in Carribean countries because of more affordable tariffs Total outgoing calls per week T & T J a m a i c a C o l o m b i a B r a z i l A r g e n t i n a P e r u M e x i c o A v e r a g e M e d i a n 14 7
8 Demand Elasticity I would stop using my phone MÉXICO 23 I would not change my phone usage 29 If the cost of using a mobile doubled (%) BRASIL 8 PERÚ Mobile services at the BOP appears to be inelastic to tariff variations ARGENTINA 9 T&T COLOMBIA 16 2 JAMAICA Keeping in Touch is Key Most mobile calls are made to friends and family, followed by businessrelated calls % Destination of outgoing calls A r g e n t i n a B r a z i l C o l o m b i a M e x i c o P e r u T & T W o r k p la c e F r ie n d s R e la t iv e s in t h e c o u n t r y O t h e r s 16 8
9 SMS: Main Non-Voice Application SMS is the only service beyond voice that is gaining rapid adoption across the region SMS use among mobile phone users (%) A r g e n t i n a J a m a i c a M e x i c o T & T P e r u 4 5 C o l o m b i a 4 4 B r a z i l M - Transactions 3 Have you ever used your mobile phone to make a transaction, such as M-transactions are still incipient in LAC (%) J a m a i c a T & T A r g e n t i n a B r a z i l M e x i c o P e r u C o l o m b i a D o w n l o a d a r i n g t o n e o r w a l l p a p e r C o n t a c t a g o v e r n m e n t a l o f f i c e P a r t i c i p a t e i n a c o n t e s t o r d r a w i n g D o a b a n k i n g t r a n s a c t i o n 18 9
10 M - Banking 19 Financial Penetration vs. Mobile Penetration The rapid spread of mobile phones means users already exceed the number of banked people in many developing countries. There is a lack of access to basic financial services in the developing world C h in a Source. World Bank and Vodafone B a n k b r a n c h e s, A T M s p e r 1, p e o p le ; m o b il e s s u s c r i p t io n s p e r 1 p e o p l e ( 2 5 ) E g y p t K e n y a M e x i c o S o u t h A f r i c a T u r k e y B r a n c h e s A T M s M o b i l e s P e n e t r a t i o n U K U S A 2 1
11 M - Transactions M Transactions may contribute to increase financial services in developing world. Source. Expanding Horizons, Nokia. 21 Telecommunications in Banking Services What role can mobile telecommunications play in providing banking services? Mobile based banking offers the potential to fill a financial vacuum in developing countries through the movement of small amounts of money. Uses existing communications infrastructure that already reaches un-banked people; adding a bank account to an existing mobile phone. (stored value accounts) Channels the power of new distribution networks for cash transactions such as airtime merchants. Has the potential to be transformative. (
12 The importance of remittances According to the IDB, LAC received remittances for USD$ 65, million. Mexico is the leading receiver (23, 979 million). For Guatemala, El Salvador, Honduras and Nicaragua, remittances account for more than 1% of its GDP. 23, 979 4,128 3, Jamaica Haití 1,975 1,83 3,12 2, Trinidad & Tobago 1, ,52 3,85 2,9 7,75 1, Source. IDB 23 Size of Remittances $12 billion worldwide annually was sent from rich to poor 318 billion worldwide was sent from poor to poor. (WB 27) M-PESA (Kenya) : 1 million subscribers. Globe Telecom and Smart (Philippines) Smart (2 ): 2.5m subscribers, with debit card, linked to bank Globe (24 ) 1.2m subscribers, with virtual wallet Accessible via 35 merchants 24 12
13 Barriers for m - banking Uncertainties over the speed and nature of customer adoption. Lack of interoperability with existing payment systems. Regulatory barriers, i.e. lack of openness to new models and lack of policy certainty. Difficulties in providing security with protocols available. Lack of supply; in many low income countries mobile penetration is low and operators are focusing their strategies on basic services. 25 Challenges for regulators: Enabling environment. Promote competition. Setting interoperability
14 CONCLUSIONS 27 ICTs are a useful tool for a pro-poor growth, one that enables low income groups to actively participate in economic activity. Public Policy may have a more productive impact by enabling a competitive environment Investment in mobile services offer a high yield return in terms of pro-poor growth. There is an untapped market where the bottom of the pyramid sector holds a significant potential as a viable business
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