PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

578647

Primary Business Area

Access To Finance

Disclosure Date

Feb 22, 2011

Country

World Region

Region

Global

IFC Approval Date

Dec 3, 2010

Status

Completed

Estimated Total Budget

$3,735,500.00
(Project budget includes all project-funded activities)

Last Updated Date

Nov 30, 2016

Project Estimated Start Date

Oct 1, 2010

Project Description

The project helps increase access to banking services through developing innovative and sustainable retail payments services as a point of entry for low-income populations. It supports the development of innovative and sustainable retail payment solutions using technologies such as mobile phones, EFTPOS (electronic funds transfer/point of sale), and payment card infrastructure to deliver payment services at low cost to the base of the pyramid and other users. Objectives are to: 1) identify businesses offering innovative payment solutions (two in Latin America, four South Asia); 2) scale up successful work using the Mobile Money Toolkit, developed with support from NIPP (Netherlands-IFC Partnership Program) with at least two clients in East Asia and Pacific; 3) support development of payment card infrastructure with at least one client; 4) expand the Toolkit to apply to retail payment services beyond mobile phone banking (such as cards and POS devices) through working with at least one client globally; and 5) conduct eight knowledge management events. It is anticipated that the global team will enable the regions to reach 3 million people.