Financial Crime World

Mobile Money Milestone: 100 Qualifying Transactions at Each of 100 New Outlets

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The mobile money ecosystem in Haiti has reached a significant milestone with the completion of 100 qualifying transactions at each of 100 new outlets. This achievement comes with a substantial award of US $6 million, divided into three tiers based on the number of qualifying transactions.

Prize Structure

  • For reaching 100,000 qualifying transactions, the award is US $10 per transaction.
  • For reaching 1 million qualifying transactions, the award is US $2 per transaction.
  • For reaching 5 million qualifying transactions, the award is US $0.80 per transaction.

Impact on the Ecosystem

The growth of mobile money in Haiti has been remarkable, with six NGOs launching programs using this technology as a distribution mechanism since the earthquake. These programs have distributed over US $5.7 million to more than 24,000 beneficiaries. The success of these initiatives has created templates for other NGOs to partner with service providers Voila and Digicel.

Challenges Ahead

While progress has been made, there are still challenges ahead for the ecosystem:

  • Service providers must increase marketing efforts and incentivize front-line agents to educate consumers at the point of transaction.
  • Refining effective models for using mobile money platforms in service delivery and determining appropriate use based on program objectives and structure will be crucial.

Early Experiences from the Field

Little public research has been conducted on mass-market perceptions and experiences of mobile money in Haiti. However, early experiences suggest that:

  • Awareness of mobile money is reasonable, but better education is required to increase understanding of its value and how it works.
  • Service providers must continue to innovate and find ways to educate consumers about the benefits of mobile money.

Looking Ahead

The success of mobile money in Haiti has paved the way for future programming and expansion. With continued support from service providers, NGOs, and government agencies, the potential for this technology to improve lives is vast.