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