GSMA releases code of conduct for mobile money providers
For a safe and responsible mobile money ecosystem, the GSMA has launched a Code of Conduct for Mobile Money Providers with the aim of establishing common business principles that all mobile money providers would commit to implementing.
The Code of Conduct was unveiled yesterday in Cape Town, South Africa at the ongoing GSMA Mobile 360 Series.
Already, eleven mobile network operators (MNOs) including Airtel, Avea, Axiata, Etisalat, Millicom, MTN, Ooredoo, Orange, Telenor, Vodafone and Zain have endorsed the Code of Conduct.Together, these MNO groups represent 82 mobile money deployments operating in 51 countries.
From left: Pikie Monaheng, Chief Executive Officer, Amdocs, South Africa, Dion Jerling, Chief Executive Officer, Connect Africa, Sifisco Dabengwa, Group Chief Executive Officer, MTN Group and Anne Bouverot, Director General, GSMA, yesterday in Cape Town, South Africa at the ongoing GSMA 360 Series Africa. Photo by Emeka Aginam.
With the mobile money growing to appreciable level despite challenges in the Sub-Sahara Africa, the Code of Conduct would support the development of a safe and responsible industry for digital financial services.
Accordingly, the Code of Conduct identifies principles aimed at promoting mobile money providers’ adoption of consistent risk mitigation practices in certain critical areas of their business such as soundness of services, security of the mobile network and channel, and fair treatment of customers.
However, the Code of Conduct, according to GSMA outlines a series of common business principles to enable the development of safe and responsible digital financial services.
Outlining the Code of Code to international audience at the forum, Anne Bouverot, Director General, GSMA told the gathering that , “By endorsing the Code of Conduct, mobile operators are demonstrating their commitment to offering safe and reliable services, which will strengthen the digital financial ecosystem by fostering consistent implementation of business practices that ensure service quality, enhance customer satisfaction, facilitate commercial partnerships, and build trust with regulators.
“The GSMA strongly encourages all of its members offering mobile money services to endorse the Code that we’ve introduced today.”
Meanwhile, the companies that have subscribed to the Code are formalising their commitment to eight principles underpinning three key areas of importance: Soundness of services; security of the mobile network and channel; and the fair treatment of customers.
According to the GSMA, it is also working with members and expert organisations in developing recommended business practices to provide guidance on how groups and country-level mobile money providers can effectively internationalise the principles that underlie the Code.
In addition to this, the GSMA and the providers participating in the initiative would work to develop a self-assessment process along with a robust certification regime for verifying compliance with the Code of Conduct.
However, service providers that endorsed the code have pledged to safeguard customer funds against risk of loss, maintain effective mechanisms to combat money laundering and terrorist financing, equip and monitor staff, agents, and entities providing outsourced services to ensure that they offer safe and reliable services, ensure reliable service provision with sufficient network and system capacity, take robust steps to ensure the security of the mobile network and channel, communicate clear, sufficient and timely information to empower customers to make informed decisions, develop mechanisms to ensure that complaints are effectively addressed and problems are resolved in a timely manner; and collect, process, and/or transmit personal data fairly and securely.
The GSMA represents the interests of mobile operators worldwide. Spanning more than 220 countries, the GSMA unites nearly 800 of the world’s mobile operators with 250 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and Internet companies, as well as organizations in industry sectors such as financial services, healthcare, media, transport and utilities. The GSMA also produces industry-leading events such as Mobile World Congress and Mobile Asia Expo.
The Code of Conduct was unveiled yesterday in Cape Town, South Africa at the ongoing GSMA Mobile 360 Series.
Already, eleven mobile network operators (MNOs) including Airtel, Avea, Axiata, Etisalat, Millicom, MTN, Ooredoo, Orange, Telenor, Vodafone and Zain have endorsed the Code of Conduct.Together, these MNO groups represent 82 mobile money deployments operating in 51 countries.
From left: Pikie Monaheng, Chief Executive Officer, Amdocs, South Africa, Dion Jerling, Chief Executive Officer, Connect Africa, Sifisco Dabengwa, Group Chief Executive Officer, MTN Group and Anne Bouverot, Director General, GSMA, yesterday in Cape Town, South Africa at the ongoing GSMA 360 Series Africa. Photo by Emeka Aginam.
With the mobile money growing to appreciable level despite challenges in the Sub-Sahara Africa, the Code of Conduct would support the development of a safe and responsible industry for digital financial services.
Accordingly, the Code of Conduct identifies principles aimed at promoting mobile money providers’ adoption of consistent risk mitigation practices in certain critical areas of their business such as soundness of services, security of the mobile network and channel, and fair treatment of customers.
However, the Code of Conduct, according to GSMA outlines a series of common business principles to enable the development of safe and responsible digital financial services.
Outlining the Code of Code to international audience at the forum, Anne Bouverot, Director General, GSMA told the gathering that , “By endorsing the Code of Conduct, mobile operators are demonstrating their commitment to offering safe and reliable services, which will strengthen the digital financial ecosystem by fostering consistent implementation of business practices that ensure service quality, enhance customer satisfaction, facilitate commercial partnerships, and build trust with regulators.
“The GSMA strongly encourages all of its members offering mobile money services to endorse the Code that we’ve introduced today.”
Meanwhile, the companies that have subscribed to the Code are formalising their commitment to eight principles underpinning three key areas of importance: Soundness of services; security of the mobile network and channel; and the fair treatment of customers.
According to the GSMA, it is also working with members and expert organisations in developing recommended business practices to provide guidance on how groups and country-level mobile money providers can effectively internationalise the principles that underlie the Code.
In addition to this, the GSMA and the providers participating in the initiative would work to develop a self-assessment process along with a robust certification regime for verifying compliance with the Code of Conduct.
However, service providers that endorsed the code have pledged to safeguard customer funds against risk of loss, maintain effective mechanisms to combat money laundering and terrorist financing, equip and monitor staff, agents, and entities providing outsourced services to ensure that they offer safe and reliable services, ensure reliable service provision with sufficient network and system capacity, take robust steps to ensure the security of the mobile network and channel, communicate clear, sufficient and timely information to empower customers to make informed decisions, develop mechanisms to ensure that complaints are effectively addressed and problems are resolved in a timely manner; and collect, process, and/or transmit personal data fairly and securely.
The GSMA represents the interests of mobile operators worldwide. Spanning more than 220 countries, the GSMA unites nearly 800 of the world’s mobile operators with 250 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and Internet companies, as well as organizations in industry sectors such as financial services, healthcare, media, transport and utilities. The GSMA also produces industry-leading events such as Mobile World Congress and Mobile Asia Expo.
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