IFC Mobile Money Study 2011 : Sri Lanka

IFC Mobile Money Study 2011 : Sri Lanka

Sri Lanka's population is still largely rural, nearly 85 percent lives outside of cities. There will probably be rural-to-urban migration in the future, which represents a potential opportunity to m-money providers. People working in cities of...

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Bibliographic Details
Main Author:	International Finance Corporation
Format:	Working Paper
Language:	English en_US
Published:	Washington, DC 2015
Subjects:	ACCESS TO BANK ACCOUNTS ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCOUNT HOLDERS ACQUISITION COST ACQUISITION COSTS ADB ADVERTISEMENTS ADVERTISING ADVISORY SERVICES AFFILIATES ATM ATM PENETRATION ATMS AUDITS AUTOMATED TELLER MACHINES AVERAGE EXCHANGE RATE BALANCE INQUIRIES BALANCE INQUIRY BANK ACCOUNT BANK ACCOUNTS BANK BRANCH BANK BRANCHES BANK CHARGES BANK OF THAILAND BANK SERVICES BANKING FEES BANKING INDUSTRY BANKING SECTOR BANKING SERVICE BANKING SERVICES BANKING SYSTEM BANKS BARRIERS TO ENTRY BLACK MARKET BROAD ACCESS BUSINESS DEVELOPMENT BUSINESS MODEL BUSINESS MODELS BUSINESS OPPORTUNITIES BUSINESS OPPORTUNITY CALL CENTER CAPITAL ADEQUACY CASH PAYMENTS CASH WITHDRAWAL CASH WITHDRAWALS CELL PHONES CENTRAL BANK OF SRI LANKA CHECKING ACCOUNTS COMMERCIAL BANK COMMERCIAL BANKS CONSUMER CONSUMER FINANCE CONSUMERS CREDIT CARD CREDIT CARD COMPANY CREDIT CARD PAYMENT CREDIT CARD USE CREDIT CARDS CREDIT MARKET CURRENT ACCOUNT CURRENT ACCOUNTS CUSTOMER BASE DEBIT CARD DEBIT CARDS DEPOSIT DEPOSIT BALANCE DEPOSITORS DEPOSITS DEPRECIATION DEVELOPMENT BANK DEVELOPMENT BANKS E-GOVERNMENT E-PAYMENTS EARNINGS ECONOMIC ACTIVITIES ECONOMIC DEVELOPMENT EDUCATION LEVELS ELECTRONIC ACCOUNTS ELECTRONIC PAYMENT EMPLOYEE EXPATRIATES FAMILIES FAMILY BANK ACCOUNTS FINANCIAL ACCESS FINANCIAL DATA FINANCIAL INSTITUTIONS FINANCIAL INTEREST FINANCIAL LITERACY FINANCIAL POSITION FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FORMAL FINANCIAL SECTOR FORMAL FINANCIAL SERVICES GENDER GOVERNMENT BANKS GOVERNMENT PENSION GOVERNMENT PENSIONS HOUSEHOLDS ID IDENTITY DOCUMENTS INCOME INCOME GROUP INCOME GROUPS INCOMES INEQUALITY INFORMAL LOANS INFORMATION SERVICES INSURANCE INSURANCE PREMIUM INTERNATIONAL FINANCE INTERNATIONAL LAW INVESTMENT ADVICE KNOWLEDGE LEVELS LABOR FORCE LABOR FORCE SURVEY LACK OF AWARENESS LEGISLATION LEVEL OF EDUCATION LEVEL OF KNOWLEDGE LIABILITY LICENSES LIVING STANDARD LOAN LOAN PAYMENTS LOAN REQUESTS LOW COST MAJOR BANKS MARKET SEGMENTS MARKET SHARE MARKET SHARES MARKETING MARKETING EFFORT MARKETING STRATEGY MASS MARKET MASS MEDIA MASS TRANSIT MATERIAL MEDICAL BILL MEDIUM ENTERPRISES MERCHANT MERCHANTS METROPOLITAN AREAS MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROINSURANCE MIGRATION MOBILE ACCESS MOBILE PHONE MONEY MARKET MONEY ORDER MONEY ORDERS MONEY SOLUTION MONEY TRANSFER MONIES MONTHLY INCOME MONTHLY PAYMENTS NEW BUSINESS NEW COMPANY NEW ENTRANTS NEW TECHNOLOGIES NONBANKS OUTREACH PAYMENT SERVICES PAYMENT SYSTEMS PEER REVIEW PENETRATION RATE PENSION ACCOUNTS PERMANENT MAILING ADDRESS POINT OF SALE POINT-OF-SALE PREMIUM RATE PRINT MEDIA PROBABILITY PUBLIC TRANSPORT PURCHASES QUERIES REGIONAL DEVELOPMENT BANKS REGISTRATION PROCESS REGULAR PAYMENTS REGULATORY ENVIRONMENT REGULATORY FRAMEWORK RELIABILITY REMITTANCE REMITTANCES REPAYMENTS RESPONSIBILITIES RETAIL BANKING RETAIL SAVINGS RISK PROFILE SALARY SALE SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SAVINGS BANK SECURITIES SERVICE PROVIDER SMALL BUSINESSES SMALL FARMERS SMART CARD SMART CARDS SOCIAL WELFARE SOCIAL WELFARE PROGRAM SOCIOECONOMIC BACKGROUNDS SOCIOECONOMIC DATA SOURCE OF FUNDS SOURCE OF INFORMATION SPECIALIZED BANKS STAKEHOLDERS START-UP START-UP CAPITAL STARTUP CAPITAL STATE BANKS SUBSIDIARY SUPPLY CHAIN SUPPLY CHAIN MANAGEMENT TELECOMMUNICATIONS EQUIPMENT TELLERS TRADITIONAL BANKING TRANSACTION TRANSACTION FEE TRANSACTIONAL ACCOUNTS TRANSACTIONS COST UNION URBAN AREAS URBANIZATION USER USERS UTILITY BILL UTILITY BILLS VARIABLE COSTS WEB SITES WHITE-COLLAR WORKERS
Online Access:	http://documents.worldbank.org/curated/en/2011/01/24115693/sri-lanka-ifc-mobile-money-study-2011 http://hdl.handle.net/10986/21746

Description
Summary:	Sri Lanka's population is still largely rural, nearly 85 percent lives outside of cities. There will probably be rural-to-urban migration in the future, which represents a potential opportunity to m-money providers. People working in cities often wish to repatriate their savings to their rural families conveniently and at a low cost. Income is fairly evenly spread across Sri Lanka s provinces, with the exception of the Western Province where Colombo, the largest city, is situated. Its GDP per capita places Sri Lanka near the average of comparable Southeast Asian countries. Malaysia is clearly an outlier with a considerably higher GDP per capita, but Sri Lanka s GDP is higher than that of the Philippines, where m-money has taken off dramatically. Poverty is less of a problem in Sri Lanka relative to countries like Bangladesh or Cambodia, where GDP per capita is much lower. The key point is that Sri Lanka is at a different stage in its economic development and is unlikely to have the same socioeconomic conditions that made m-money in Kenya accelerate so rapidly.

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