...

2015




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( ) GDP

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7............................................................................................................

7........................................................................................................................................

8...............................................................................................................................

8.....................................................................................................................................

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9....................................................................................................................

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3...................................................................................................................................
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41..........................................................................................................
44...............................................................................................

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3
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11.......................................................................................
40..........................................................................................................
41.........................................................................................................
41.............................................................Credit Cards Networks

11......................................................................................................................

11....................................................................................................

47.............................................................................................................................

19......................................................................................................

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43.............................................................................................
55.............................................................................

(11........................................... )ecosystem

12................................................................................
58..................................................................
01....................................................................................................................

11.............................................................................................................
05............................................................................................................................
16.................................................................................................................
06........... .......................................................................................................................
11.............................................................................................................................
(21.......................................................................................... )Interoperability
22 .......................................................................................
22.......................................................................................................
22.............................................................................................
11.................................................................................................................
12....................................................................................................................

4
 21........................................................................
17.........................................................................................................
17........................................................................................................................
17...................................................................................................
18...........................................................................................
18............................................................................................
13.............................................................................
13.............................................................................................................
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21............................................................................................................................
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Google
Apple and Samsung NFC
Carrefour PayPal
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[30] Deloitte

5142


NFC
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) (FLC
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2013 2014

Region EMV Cards Adoption EMV Cards Adoption Rate

Rate
Canada, Latin America, 471M 54.2% 544M 59.5%
and the Caribbean
Asia Pacific 942M 17.4% 1,676M 25.4%
Africa & the Middle East 77M 38.9% 116M 50.5%
Europe Zone 1 794M 81.6% 833M 83.5%
Europe Zone 2 84M 24.4% 153M 40.4%
United States - - 101M 7.3%

21

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branchless bank

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.
:[12]

Stakeholder Expectations
Consumer Reduced risk of carrying cash

Minimal learning curve

New service is available everywhere

Low or zero additional cost of usage

Security of transactions

Person-to-person transactions
Send and receive money (both domestic and international
remittances)
Friends/family Send and receive money (both domestic and international

members remittances)
Send/receive money in emergency situations

Employers Reduce time

Reduce cash risks

Mobile Add value to existing services

network Increase customer loyalty

operator New revenue channel
(MNO)
Banks/microfin Branding and customer loyalty

ance New customers

institutions Ownership or co-ownership of the new payment application
(MFI) Secure and trusted payment service

Anti-money laundering requirements

Integration/use of existing infrastructure and payment methods

25
 Agents Earns commission on transactions

New revenue streams

Increase traffic and sales

Merchants Offer convenience to customers

Regulator Promote financial inclusion and reduce cash risk

Promote interoperability among payment services

Reduce risks of money laundering and open job opportunities.

]:[12

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USSD SMS
Welcome to BANK, reply

with:
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1 for balance enquiries

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* # *120*2265# 3 for person to person ussd
payments

4 for bill payments
.

1 ( The Balance
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( Contactless POS terminal ) Dual interface POS terminal

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31


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(.)EVM & NFC

32



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No IVR

No SSMS

Session oriented No USSD


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SIM SIM
Yes SSL WAP

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SIM .
) .Host-based card emulation (HCE )Android 4.4 (KitKat

.NFC
) .Trusted Execution Environment (TEE
.

33
 [43]:

SE TEE HCE
Rich resources )no (limited Yes Yes
Level of security high Middle Low
Performance low High High
Need (number
of apps small high High
)that need it
User Interface none or very middle rich very rich
limited
Processing speed Low High High

Extra costs High Low low or none

:
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)
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token PAN (

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:
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.

34
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.
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TSM. .1
TSM ( ) Token Vault .2
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.)Apple Pay

:
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.
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35
 (
) Credit Cards Networks
.

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5141
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( ) un-banked ( ) under-banked

.

36

:[12]

M-money
application Countries implemented Main Features Technology*
M-PESA Kenya, Tanzania, South P2P transfers STK, USSD,
Africa and Afghanistan
Pay school fees app
Pay electricity bills
Pay for goods and services
Easypaisa Pakistan Pay utility bills USSD and
Make P2P transfers Internet, App
Increase air time credits
Save money
Pay for goods and services
T-Cash Haiti Receive salary USSD, App
Make P2P transfers
Pay bills
Globe Philippines Pay utility bills SMS, STK, App
GCash Make P2P transfers
Use as a mobile wallet
Increase air time credits
Pay for goods and services
Airtel India and 14 African Make P2P transfers USSD, App
Money countries including Uganda, Pay for goods and services
Tanzania and Kenya Bill payments
MTN Africa, including Uganda, P2P transfers USSD, STK,
Mobile Ghana, Cameroon, Ivory Buy air time App
Money Coast, Rwanda and Benin. Check balances
Pay utility bills
EKO India Make P2P transfers USSD, App
Bill payments
Loan payments

37
 WIZZIT South Africa P2P transfers USSD, App
Buy air time
Check balances
View statements
Pay electricity

*

Vodafone M-PESA
Safaricom 5117 42 (
) [12] .

M-PESA


.

.

45 .

.

( )

( ) flat fee .

[47] .

38
 M-PESA Western Union

2 M-PESA
" "Lipa Karo Na " "Nunua Na
].[48

Vodafone M-PESA Vodafone Cash 5140

].[49

%83
(

)[50].

EasyPaisa 5113
( Telenor
)Pakistan and Tameer Microfinance Bank
%24 .

39
 52.111.

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EasyPaisa

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.

MasterCard Visa Tap & Go

NFC PIN

. PIN
.

NFC


.
PayPass
.ATM
][53

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.

(.)POS

HCE
Android Device Manager
.

Apple Pay
Apple iPhone Apple Watch iPad

.
.
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icloud.com/find
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4338 5142
1.3 %58 .

473 511
411 27
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.

5113 5118 5113 :

1559 9/15-1/1 1552

534,101,318 446,586,637
021,404 458,417
44,348 1,176 161
323 024
738,111 048,230
)%54( 72,712 )%47( 55,517
)%73( 021,404 )%80( 416,187
805 317
)%1.116( 5,481 )%1.112( 666

51




.
USSD .
( )https://ebank.reb.sy
.

5113
:

51





30,000,000 5,000,000 1
2
20,400,000 3,400,000 3
24,000,000 4,000,000 4
1,600,000 1,600,000 5
1,300,000 650,000 6
7
2,000,000 1,000,000 8
9
10

500,000 11 ( )

125,000 125,000 12

460,000 460,000 13

14
15
16
3,000,000 17
( ) 18
19
6,000,000 20
21
22
23
500,000 24
( ) 25
300,000 300,000 26
1,900,000 1,600,000 27

28

52

5,200,000 5,200,000 29


200,000 200,000 30

91,485,000

.Western Union
. ] [58 5142
24
%15 (.)GDP

( ] ) [59 %50
5144 ( 5141 )( )
.

.
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.

53



:
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. .1 :
.2 .
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] .[60 ]:[61
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54
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55


Interactive Voice Response IVR
Short Message Service SMS
SIM Toolkit STK
EuroPay, MasterCard, and Visa EMV
near-field communication NFC
International Monetary Fund IMF
Bank for International Settlements BIS
Financial market infrastructures FMIS
Unstructured Supplementary Service Data USSD
Wireless Application Protocol WAP
End-to-end encryption E2EE
Point-to-point encryption P2PE
how host-based card emulation HCE
Trusted Execution Environment TEE
The Society for Worldwide Interbank Financial Telecommunications SWIFT
The Clearing House Interbank Payments System CHIPS
Automatic Clearing House ACH
The Single Euro Payments Area SEPA
China International Payment System CIPS
Mobile Network Operator MNO
Consultative Group to Assist the Poor CGAP

56


Mobile payments

Mobile money transfer

Mobile banking
)International Monetary Fund (IMF
Articles of agreement of the International Monetary
Fund
World Bank
)Bank for International Settlements (BIS
)Global Financial Inclusion (Global Findex
)Financial market infrastructures (FMIs

Mobile money
)near-field communication (NFC

Global mobile broadband population coverage

)EuroPay, MasterCard, and Visa (EMV

magnetic-stripe plastic card

chip card

EMV chip-enabled POS
EMV
Fraud Liability Shift (FLS) policy


Un-banked
()


Under-banked

57
 References

[1] World Bank, "The Global Findex Database 2014, Measuring Financial Inclusion around the
World," 2015.

[2] Bill & Melinda Gates Foundation, "2015 Annual Letter: page 3: MOBILE BANKING WILL
HELP THE POOR TRANSFORM THEIR LIVES," [Online]. Available:
https://www.gatesnotes.com/2015-Annual-Letter?page=3&lang=en. [Accessed 2016].

[3] GSMA, "2015 State of the Industry, Mobile Money," 23 Feb 2016. [Online]. Available:
http://www.gsma.com/mobilefordevelopment/wp-
content/uploads/2016/02/SOTIR_2015.pdf. [Accessed 2016].

[4] International Monetary Fund (IMF), [Online]. Available: http://www.imf.org.

[5] IMF, " ," 2011. [Online]. Available:

https://www.imf.org/external/pubs/ft/aa/ara/index.pdf. [Accessed 2016].

[6] Bank for International Settlements (BIS), "Principles for financial market infrastructures,"
2012.

[7] World Bank, [Online]. Available: http://www.worldbank.org.

[8] International Finance Corporation (IFC), " ," [Online].

Available:
http://www.ifc.org/wps/wcm/connect/Multilingual_Ext_Content/IFC_External_Corporate_
Site/Home_AR. [Accessed 2016].

[9] International Finance Corporation (IFC), "Mobile Money Study," 2011. [Online]. Available:
http://www.ifc.org/wps/wcm/connect/fad057004a052eb88b23ffdd29332b51/MobileMo
neyReport-Summary.pdf. [Accessed 2016].

[10] SWIFT, "Discover SWIFT," [Online]. Available: https://www.swift.com/about-us/discover-

swift. [Accessed 2016].

58
[11] GSMA, "Mobile Money Programme," [Online]. Available:
http://www.gsma.com/mobilefordevelopment/programmes/mobile-money/. [Accessed
2016].

[12] ITU, "The Mobile Money Revolution," 2013.

[13] The Consultative Group to Assist the Poor (CGAP), [Online]. Available:
http://www.cgap.org/. [Accessed 2016].

[14] Bill & Melinda Gates Foundation, "LETTER FROM BILL AND MELINDA GATES," [Online].
Available: http://www.gatesfoundation.org/Who-We-Are/General-Information/Letter-
from-Bill-and-Melinda-Gates. [Accessed 2016].

[15] Bill & Melinda Gates Foundation, "FINANCIAL SERVICES FOR THE POOR," [Online].
Available: http://www.gatesfoundation.org/What-We-Do/Global-Development/Financial-
Services-for-the-Poor. [Accessed 2016].

[16] World Bank, 2016. [Online]. Available: http://data.worldbank.org.

[17] ITU, "ICT Facts & Figures, The World in 2015," 2015.

[18] GSMA, "The Mobile Economy 2015," 2015.

[19] Bank for International Settlements (BIS), "Payment, clearing and settlement in various
countries," [Online]. Available:
http://www.bis.org/cpmi/paysysinfo.htm?m=3%7C16%7C30. [Accessed 2016].

[20] SWIFT, "Monthly FIN traffic evolution," [Online]. Available: https://www.swift.com/about-

us/swift-fin-traffic-figures. [Accessed 27 Feb 2016].

[21] Global Research, "Russia Precipitates the Abandonment of the SWIFT International
Payments System among BRICS Countries," 06 Oct 2015. [Online]. Available:
http://www.globalresearch.ca/russia-precipitates-the-abandonment-of-the-swift-
international-payments-system-among-brics-countries/5480183. [Accessed 2016].

[22] The Clearing House, "CHIPS," [Online]. Available:

https://www.theclearinghouse.org/payments/chips. [Accessed 2016].

59
[23] RT, "China launches global yuan payment system," 9 Oct 2015. [Online]. Available:
https://www.rt.com/business/318103-china-payment-system-yuan/. [Accessed 2016].

[24] wikipedia, "Credit card," [Online]. Available: https://en.wikipedia.org/wiki/Credit_card.

[Accessed 2016].

[25] RT, "Russia to issue 30mn national payment cards in 2016 CBR head," 10 Aug 2015.
[Online]. Available: https://www.rt.com/business/312073-russia-national-payment-
system/. [Accessed 2015].

[26] The Wall Street Journal, "Russia Launches Local Electronic Payment System, Mir cards mark
response to complications that arose from Western sanctions," 15 Dec 2015. [Online].
Available: http://www.wsj.com/articles/russia-launches-local-electronic-payment-system-
1450195940. [Accessed 2016].

[27] RT, "Visa to stop guaranteed service operations in Russia," 29 Sep 2015. [Online]. Available:
https://www.rt.com/business/316862-russia-visa-payments-system/. [Accessed 2016].

[28] SWIFT, "Mobile payments, Three winning strategies for banks," 2012.

[29] GSMA, "State of the Industry, Mobile Financial Services for the Unbanked," 2014.

[30] Deloitte, "Contactless mobile payments (finally) gain momentum," 2016.

[31] Bank for International Settlements (BIS), "Innovations in retail Payments," 2012.

[32] Global payments, "Initiatives of the Payments Industry, Electronic Payments Industry
Information," [Online]. Available: https://www.globalpaymentsinc.com/us/customer-
center/industry-initiatives. [Accessed 2016].

[33] EMV Migration Forum, "Understanding the 2015 U.S. Fraud Liability Shifts," May 2015.
[Online]. Available: http://www.emv-connection.com/understanding-the-2015-u-s-fraud-
liability-shifts/. [Accessed 2016].

[34] EMVCo, "Worldwide EMV Deployment Statistics," [Online]. Available:

http://www.emvco.com/about_emvco.aspx?id=202. [Accessed 2016].

61
[35] CGAP, "Nonbank E-Money Issuers: Regulatory Approaches to Protecting Customer Funds,"
2011.

[36] GSMA, "Mobile Money: Enabling regulatory solutions," Feb 2013. [Online]. Available:
http://www.gsma.com/mobilefordevelopment/programme/mobile-money/mobile-
money-enabling-regulatory-solutions/. [Accessed 2016].

[37] GSMA, "Mobile Banking Technology Options," Aug 2007. [Online]. Available:
http://www.gsma.com/mobilefordevelopment/wp-
content/uploads/2012/06/finmark_mbt_aug_07.pdf. [Accessed 2016].

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