Mobile money, financial inclusion and financial integrity: The South African case
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Date
2013
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Washington Journal of Law, Technology and Arts
Abstract
The usage of mobile banking and in particular,
payments by means of mobile phones, has increased in
recent years in South Africa, with consequent impacts from
a legal and regulatory point of view. South Africa is a
developing economy with a large "unbanked" sector. That
is, a large segment of the population does not have bank
accounts and "banking" happens through informal means.
This Article deals with the legal and regulatory framework
pertaining to mobile money and examines issues relating to
financial integrity and financial inclusion as they present
themselves in South Africa. The author states that the
regulatory framework in South Africa is not entirely
conducive to greater financial inclusion and argues for a
better balance between the regulation of risk and access to
the payment system through an enhanced implementation
of a risk-based approach
Description
Keywords
Mobile-banking, Mobile-phones, South Africa, Legal impact, Regulatory body, Developing world, Financial inclusion, Financial integrity, Financial Inclusion and Financial Integrity Conference, Conference paper
Citation
Lawack, V. A. (2013). Mobile money, financial inclusion and financial integrity: The South African case. Washington Journal of Law, Technology & Arts, 8(3), 317-346.