Mobile Payments: Central Banks’ role in Development, Oversight and Regulation

Mobile Payments Seminar

Mobile Payments: Central Banks’ role in Development, Oversight and Regulation

Course Chair: Stephen Mwaura, Chairman, Fintech institute & former Head of National Payments Systems, Central Bank of Kenya

 

Day 1: Tuesday 26 November

  • Mobile payments: the state of the art
    • Assessment of mobile payments in 2019
    • Emerging and persistent risks for mobile payment providers and consumer
    • Strategies for effective regulation and oversight of mobile payments
    • Examples of innovative digital platforms facilitating financial inclusion 
       
  • The digital transformation: trends and challenges
    • The trend and trajectory of transformations in mobile payments
    • Challenges and unavoidable risks in the digital sphere
    • Examples of capitalising on the major opportunities in mobile payments
    • The impact of digital disruptions on developed & developing economies
       
  • Big Tech in mobile payments: a case study of WeChat Pay
    • Assessment of WeChat as a mobile payment platform
    • Challenges in cross border applications for mobile payments and financial inclusion
    • Regulation and supervision of WeChat
    • Applicability of WeChat in delegates home jurisdictions
  • Making the Most of AI and Big Data 
    • Technology foundations of AI, Machine Learning and Big Data in mobile payment platforms 
    • Examples of applications of Big Data and Machine Learning in design and oversight
    • Implications for data management and consumer protection
    • How to standardise the rules locally and globally for the use of Big Data in mobile payments
       

Day 2: Wednesday 27 November

  • Inclusive innovation: key models, strategies and policies
    • Overview of initiatives enabling the public to benefit from disruptive innovation
    • Strategies making FinTech more accessible to the unbanked population
    • Examples of projects helping innovation compliant with legal and regulatory requirements
    • Legal innovation helping the products for inclusive innovation become compliant 
  • Promoting micro-finance: removing barriers to micro-credit
    • Overview of barriers to micro-credit 
    • Strategies to build credit models for individuals and small credits 
    • Examples of creating a public digital registry 
    • Discussion: how can central banks change to promote micro-finance?
  • Infrastructure building and stakeholder coordination for financial inclusion: a Tanzania case study
    • Building blocks for effective infrastructure of financial inclusion
    • Role of coordination and cooperation between central banks and the private sector
    • Tips for effective communication with the public 
    • Discussion: which elements of the Tanzania approach are applicable in the participants home jurisdictions  
  • Mobile payments as a driver of financial inclusion: the evolution of M-pesa 
    • Evolution of M-pesa across various jurisdictions
    • M-pesa as a tool for reaching the unbanked population
    • Tips for making M-pesa more attractive for the unbanked population 
    • Discussion: what does it take to introduce a safe and sustainable mobile payment solution?
       

Day 3: Thursday 28 November

  • Cross-border payments: what’s new? 
    • Overview of the new tools used and applied in cross-border payments
    • Strategies for overcoming the barriers for faster and more efficient cross-border payments
    • Tips for sustainable integration of the emerging technology opportunities
    • Discussion: what does it take to achieve an effective cross-jurisdictional regulation and supervision
       
  • Consumer protection: key features of effective supervision of mobile payments platforms
    • Overview of financial legal and operational risks associated with mobile payments platforms 
    • Building blocks for effective consumer protection framework 
    • Examples of how RegTech and SupTech can be used to supervise and regulate the mobile payment industry 
    • Discussion: how can central banks and regulators balance the support for innovation and consumer protection 
       
  • New opportunities in mobile payments design and oversight
    • New developments in mobile payment design and oversight frameworks
    • Trends and dynamics shaping mobile payments in various jurisdictions 
    • New responsibilities for central banks and regulators 
    • Hands-on exercise: designing an effective and resilient mobile payment framework
       
  • Delegate action points and course conclusion
    • Summary of the course and main points 
    • Discussion of the observed trends and case studies 
    • Application of learning points in the participants’ home organisations
    • Preparation of action points