The Roles of Mobile Payments on Accelerated Financial Inclusion: An Evolving Framework

摘要

Unprecedented developments in information and communication technology have influenced business activities worldwide known as e-business. From this point, the use of mobile technology for mobile phone devices has transformed the way people to use phones profoundly. These devices are equipped with functionalities not only to phone someone else but also to surpass telephony needs, which inspire the evolution of mobile services. Mobile payments, for example, are able to reach people in remote areas and lack of financial services. This paper aims to show how the roles of development of payment systems in business communities from the beginning of the existence of payment systems to these current ones for solving business transactions. The composition of this paper is arranged into five parts. The first part demonstrates definitions of mobile payments and its ecosystems, the second one explains how the financial inclusion is conceptualised, then steps of evolutions payment systems before and after the mobile payments are introduced. The paper demonstrates the next development of payment system in the 20th century when the first credit card was introduced officially in the 1950s, then the first electronic payment via telegraph is launched. And finally, a mobile payment was offered at the first time in 1997. The fourth part explains how mobile payment have a role to accelerate financial inclusion. With mobile payments, people who have uncovered banking and other financial services could access such financial services. The last one is conclusion and implications for future research