GSMA MMT Project
The GSMA Mobile Money Transfer (MMT) project leverages the ubiquity of the mobile phone to improve access to money transfers for a wider section of the global community.
MMT Project Objectives
- Enable millions of typically unbanked poorer migrant workers access to affordable mobile remittances
- Position the mobile operator community as leading the way in helping these poorer migrant workers, and in so doing secure public and government recognition.
- Secure the appropriate role in the remittance value chain for mobile operators.
- Explore opportunities for commercialisation and global rollout by GSMA members.
- Catalyse the growth of mobile money through the development of mobile based NFC, bill payments, ticketing and signatures solutions
Principles of the MMT Project
The MMT project objectives are based on five core principles:
- Expand the accessibility of remittances and dramatically lower fees, particularly for low denomination amounts, while enhancing value to mobile operators through share of transaction revenues, data traffic and increased customer loyalty
- Promote global hub-centric remittance solutions to simplify inter-connection and accelerate speed to market
- Partner with global financial players who can facilitate the hub with minimal regulatory or other related concerns
- National distribution and regulatory issues will be handled by operators (and their banking partners). The GSMA will provide assistance/guidance as appropriate
- Use of pilot programmes to speed understanding and support
Mobile operators are uniquely positioned to meet the needs of this untapped market.
