DOCSLIB.ORG

Pdf, 3.315 MB

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Pdf, 3.315 MB ‘LEAPFROGGING ’: A SURVEY OF THE NATURE AND ECONOMIC IMPLICATIONS OF MOBILE MONEY Janine Aron January 2017 INET Oxford Working Paper no. 2017-02 Economic Modelling 1 ‘Leapfrogging’: a Survey of the Nature and Economic Implications of Mobile Money JANINE ARON1 January-17 (revised) Abstract Mobile money is a recent financial innovation giving financial transaction services via a mobile phone, including to the unbanked global poor. Mobile money technology has spread rapidly in the developing world, “leapfrogging” the provision of formal banking services by solving the problems of weak institutional infrastructure and the cost structure of conventional banking. This survey examines the evolution of mobile money, its important role in widening financial inclusion, and the impact of regulation on the development of mobile money systems. It explores the channels of economic influence of mobile money from both a micro and a macro perspective, and presents the first critical survey of the current state of micro and macro empirical literature on the economic impact of mobile money. 1 Affiliations: Institute for New Economic Thinking at the Oxford Martin School, University of Oxford, UK, and Centre for the Study of African Economies (CSAE), Department of Economics, Manor Road Building, Oxford OX1 3UQ. Funding: This work was supported by the Gates Foundation [grant number MQRYDE00], the Open Society Foundations and the Oxford Martin School. Versions or excerpts have been presented at and benefitted from: Gates Foundation-Bank of Uganda-International Growth Centre Policy Workshop on The Impact of Mobile Money, Uganda, February 2015; Peking-Oxford-Stanford Internet Law and Policy Conference, University of Oxford, November, 2015; High-Level Roundtable on Consolidating Africa’s Mobile Banking Revolution, Blavatnik School of Government, University of Oxford, February 2016; and a Special Session on the Economics of Mobile Money, CSAE Conference, University of Oxford, March, 2016. Acknowledgements: Special thanks go to John Muellbauer (Nuffield College, Oxford University). The author also thanks Chris Adam (Oxford University), Tony Atkinson (Oxford University), John Duca (Federal Reserve Bank of Dallas, USA), Colin Mayer (SAID Business School, Oxford University), Ggombe Kasim Munyegera (IGC), David Porteous (Bankable Frontier Associates), Emma Riley (Oxford University), Federico Varese (Oxford University) and Sebastian Walker (IMF) for their helpful comments. 2 Contents 1. Introduction ....................................................................................................................................................... 5 2. What is mobile money? ...................................................................................................................................... 7 3. How does mobile money work and what financial innovations can it lead to? ................................................. 8 3.1 The “nuts and bolts”: storage, deposits, withdrawals and domestic transfers ............................................ 9 3.2 Expanding to a business usage and payments platform ............................................................................ 11 3.3 Expanding to government and donor usage of mobile payments ............................................................. 11 3.4 Credit ratings and micro-loans ................................................................................................................... 12 3.5 A micro-insurance platform ....................................................................................................................... 13 3.6 Expanding to international transfers through mobile money channels ..................................................... 14 4. Greater financial inclusion and mobile money ................................................................................................. 15 4.1 Defining financial inclusion ........................................................................................................................ 16 4.2 Measuring financial inclusion - and the recent role of mobile money ....................................................... 17 4.3 Adoption, usage and awareness patterns – what do they show? .............................................................. 19 5. The growth, geographical spread and profitability of the industry .................................................................. 22 5.1 Trends in the growth of deployment .......................................................................................................... 22 5.2 Profitability ................................................................................................................................................ 24 5.3 Competition in the markets ........................................................................................................................ 26 5.4. Effects on Hawala, and illegal or unlicenced international remittances ................................................... 26 5.5 Cheaper smartphones and technological innovation ................................................................................. 27 6. The economics of mobile money ..................................................................................................................... 29 6.1 The micro-view ........................................................................................................................................... 29 6.1.1 Reducing transactions costs ............................................................................................................... 29 6.1.2 Reducing asymmetric information and improved transparency ........................................................ 30 6.1.3 Increasing saving and changing the nature of saving ......................................................................... 31 6.1.4 Risk and insurance .............................................................................................................................. 32 6.1.5 Changing family dynamics and changing social networks .................................................................. 32 6.1.6 Improving efficiency ........................................................................................................................... 33 6.2 The macro-economic view ......................................................................................................................... 33 6.2.1 Mobile money, credit and transmission to the money supply ........................................................... 33 6.2.2 Saving, “spendability” and inflation – why the focus on velocity is misleading ................................. 36 6.2.3 International mobile money remittances and inflation ..................................................................... 37 6.2.4 Some tax implications ......................................................................................................................... 38 7. Data measurement issues concerning mobile money ..................................................................................... 39 7.1 Global data coverage ................................................................................................................................. 39 7.2 Data for macro-analyses ............................................................................................................................ 39 7.3 Administrative transactional data and survey micro-data ........................................................................ 40 7.4 Qualitative institutional data: addressing a gap ........................................................................................ 42 8. Empirical evidence on the economics of mobile money – selected studies’ findings ...................................... 42 8.1 Micro-literature .......................................................................................................................................... 42 8.1.1 RCT versus Difference-in-Differences, and other empirical approaches ............................................ 42 8.1.2 Adoption studies ................................................................................................................................. 45 8.1.3 Private mobile money transfers and risk sharing ............................................................................... 47 3 8.1.4 Private mobile money transfers and welfare ..................................................................................... 54 8.1.5 Public, donor or employer mobile money transfers ........................................................................... 62 8.1.6 Analyses of savings behaviour and credit ........................................................................................... 64 8.1.7 Regulation and mobile money usage ................................................................................................. 68 8.2 Macro-literature ......................................................................................................................................... 69 9. Incentives: the design of network structures and network agency contracts ................................................. 71 9.1 The exclusivity, shape and size of networks ............................................................................................... 72 9.2 On the recruitment, training and regulation of agents .............................................................................
Load more

Recommended publications
  • MOBILE Payments Market Guide 2013
    MOBILE PAYMENTS MARKET GUIDE 2013 INSIGHTS IN THE WORLDWIDE MOBILE TRANSACTION SERVICES ECOSYSTEM OVER 350 COMPANIES WORLDWIDE INSIDE Extensive global distribution via worldwide industry events As the mobile payments ecosystem is becoming increasingly more crowded and competitive, the roles of established and new players in the mobile market is shifting, with new opportunities and challenges facing each category of service providers. Efma, the global organization that brings together more than 3,300 retail financial services companies from over 130 countries, welcomes the publication of the Mobile Payments Market Guide 2013 by The Paypers as a valuable source of information and guidance for all actors in the mobile transaction services space. Patrick Desmarès - CEO, Efma MOBILE PAYMENTS MARKET GUIDE 2013 INSIGHTS IN THE WORLDWIDE MOBILE TRANSACTION SERVICES ECOSYSTEM Authors Ionela Barbuta Sabina Dobrean Monica Gaza Mihaela Mihaila Adriana Screpnic RELEASE | VERSION 1.0 | APRIL 2013 | COPYRIGHT © THE Paypers BV | ALL RIGHTS reserved 2 MOBILE PAYMENTS MARKET GUIDE 2013 INTRODUCTION Introduction You are reading the Mobile Payments Market Guide 2013, a state- se and the way commerce is done. From a quick and accessible of-the-art overview of the global mobile transaction services channel for banking on the move to a sophisticated tool for shop- ecosystem and the most complete and up-to-date reference ping, price comparison and buying, the saga of the mobile device source for mobile payments, mobile commerce and mobile is an on-going story that unfolds in leaps and bounds within a banking-related information at global level. This guide is published progressively crowded (and potentially fragmented) ecosystem.
    [Show full text]
  • Mobile Payments
    ICT Trends Digital Healthcare | Mobile Payment | Assistive Technologies | Internet of Things (IoT) 5th Generation Mobile Networks (5G) | Artificial Intelligence and Machine Learning Blockchain and Shared Ledgers | 3D Printing 5TH GENERATION MOBILE NETWORKS (5G) DIGITAL BLOCKCHAIN AND HEALTHCARE SHARED LEDGERS MOBILE 3D PAYMENT ICT Trends PRINTING INTERNET OF ASSISTIVE THINGS (IOT) TECHNOLOGIES ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING ICT Trends Mobile Payments ICT Trends This work is available open access by complying with the Creative Commons license created for inter- governmental organizations, available at: http://creativecommons.org/licenses/by/3.0/igo/ Publishers must remove the United Nations emblem from their edition and create a new cover design. Translations must bear the following disclaimers: “The present work is an unofficial translation for which the publisher accepts full responsibility.” Publishers should email the file of their edition to [email protected] Photocopies and reproductions of excerpts are allowed with proper credits. Disclaimer : The views expressed herein are those of the authors, and do not necessary reflect the views of the United Nations. This publication has been issued without formal editing, and the designations employed and material presented do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries. Mention
    [Show full text]
  • Migrant Remittances: Alternative Money Transfer Channels
    Institute for International Political Economy Berlin Migrant Remittances: Alternative Money Transfer Channels Authors: Martina Metzger, Tim Riedler, Jennifer Pédussel Wu Working Paper, No. 127/2020 Editors: Sigrid Betzelt, Eckhard Hein (lead editor), Martina Metzger, Martina Sproll, Christina Teipen, Markus Wissen, Jennifer Pédussel Wu, Reingard Zimmer Migrant Remittances: Alternative Money Transfer Channels Martina Metzger ([email protected]), Professor of Monetary Economics, Berlin School of Economics and Law, Institute for International Political Economy Berlin (IPE) Tim Riedler ([email protected]), HTW University of Applied Sciences Berlin Jennifer Pédussel Wu ([email protected]), Professor of International Trade and Production, Berlin School of Economics and Law, Institute for International Political Economy Berlin (IPE) Abstract This paper first explores the role of digital financial services, e.g. mobile money systems and cryptocurrency-based systems, and their impact on the choice of migrants to send remittances. Secondly we discuss whether alternative remittances sending channels increase access to financial services for remittance-sending and remittance-receiving households. Africa, and in particularly Kenya, are pioneers in alternative money transfer systems and of tailor-made regulatory initiatives to address digital financial services. Thus, our paper focuses on the technologies of the Kenyan mobile money system, M-Pesa, and the major cryptocurrency, Bitcoin, and based on that takes into account selected experiences of other Sub-Saharan African countries. We find that in comparison to traditional remittances sending channels, mobile money transfer channels are often superior in terms of service-related features as costs of transfers for sending and receiving households, speed of delivery, availability and access to the remittances by receiving households or security of transactions.
    [Show full text]
  • Notes 12 Bibliography 13
    Bringing E-money to the Poor E-money to Bringing Public Disclosure Authorized Public Disclosure Authorized DIRECTIONS IN DEVELOPMENT Finance Riley and Kulathunga Bringing E-money to the Poor Public Disclosure Authorized Successes and Failures Thyra A. Riley and Anoma Kulathunga Public Disclosure Authorized Bringing E-money to the Poor DIRECTIONS IN DEVELOPMENT Finance Bringing E-money to the Poor Successes and Failures Thyra A. Riley and Anoma Kulathunga © 2017 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW, Washington, DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org Some rights reserved 1 2 3 4 20 19 18 17 This work is a product of the staff of The World Bank with external contributions. The findings, interpreta- tions, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Nothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and immunities of The World Bank, all of which are specifically reserved. Rights and Permissions This work is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) http:// creativecommons.org/licenses/by/3.0/igo.
    [Show full text]
  • CGAP Landscape Study on International Remittances Through Mobile Money Final Report Context of This Study
    February 2012 CGAP Landscape Study on International Remittances through Mobile Money Final report Context of this study CGAP’s Technology & Business Model Innovation Program commissioned Dalberg Global Development Advisors to conduct a ‘refresh’ on an earlier landscaping study for international remittances through mobile money. Study methodology Interviews and Preliminary research supporting research Outputs • Re-scan of live and planned • Conducted 17 telephone and live • A summary report detailing the international remittance interviews with operators, industry landscape in 2012, as well deployments identified in 2010 technology providers, and industry as emerging innovations, success study experts to establish a view of the factors and challenges. current market, capture success • Full desk review of major MNOs and factors and challenges, and • Seven case studies representing a mobile money deployments to understand the potential impact of mix of deployments: identify and validate current and innovations on the industry —Longer-term initiatives planned IR deployments —New entrants • Followed-up by email or phone for —Intermediary operators who • Industry consultation for additional additional validation of findings in are shaping the industry context and validation of particular final week of study providers • Collaborated with CGAP to consider implications to mobile money deployments and financial inclusion 2 Executive summary (1 of 2) Since our initial study in 2010, there has been growth in international remittance (IR) deployments
    [Show full text]
  • Rinity Journal of Management, It & Media (Tjmitm)
    ISSN 2320 - 6470 TRINITY JOURNAL OF MANAGEMENT, IT & MEDIA (TJMITM) CONTENTS A Study of Demonetization Announcement Effect on Indian Sitaram Pandey Stock Market Pramod Kumar Naik 3-8 Demonetization: Opportunities Dr Sudhansu Kumar Das and Challenges Dr Artta Bandhu Jena 9-11 Impact of Demonetization on Indian Shekhar Mishra THE EDITORIAL BOARD Economy Dr. Satya Swaroop Debasish 12-18 MEDIA SECTION Digital Dilemma, Cyber Frauds and Dr. Amita Charan Prof. B. K. Kuthiala Mobile Banking in India Ekta Bansal 19-27 Vice Chancellor, Makhanlal University of Journalism & Communicaon Demonetization in India: A Catalyst Dr Artta Bandhu Jena Prof. S. Joshi for Cashless Economy Mr.Bishwajit Rout 28-31 Vice Chancellor, K.T.U.J.M.C UPI: A Brilliant Technology Idea Ankit Dhamija Prof. (Mrs.) Virbala Aggarwal Executed Poorly Deepika Dhamija 32-36 Chairperson, Dep. of Journalism & Mass Communicaon, H.P.U. Digital Revolution and means of Ekta Sehgal 37-41 Prof. (Dr.) Sanjeev Bhanawat E-Money Circulation: Overview Head, Dep. of Journalism & Mass Communicaon, Anjana Singh University of Rajasthan Demonetization: A Boon or Bane Neeti Chopra for Indian Economy MANAGEMENT SECTION Dr. V.Pathak 42-45 Prof. (Dr.) R. K. Mial Teena Wadhera Professor, USMS, G.G.S.I.P.U. Adoption of M- Wallet: A way ahead Richa Dabas 46-50 Dr. S. P. Gupta Parul Malhotra Ex-Dean, Faculty of Management Studies, Delhi E-Money Transaction: It’s problems 51-53 Prof. (Dr.) S. L. Gupta and solution Roma Singh Professor, Birla Instute of Technology Dr. Subodh Kesharwani Digital Rights Management Gunjan Gulati 54-57 Associate Professor, IGNOU, Delhi Dr.
    [Show full text]
  • Global Affinity Finance Club Winter 2015
    AFFINITY INSURANCE WINTER 2015 BANCASSURANCE Global Affinity AFFINITY BANKING Finance Club Finaccord’s newsletter about affinity financial services worldwide Welcome back to your Club! The first three months of 2015 have seen a number of innovative new initiatives in the world of affinity financial services. Google has created headlines by unveiling the launch of a motor insurance comparison facility in the US (’Google Compare for Auto Insurance’), co-operating for this purpose with CompareNow, CoverHound and other partners. Distinctive new deals in the assistance sector include a link between MAPFRE Assistance and Unitywater in the nascent market for home assistance services in Australia, RAC’s agreement with ta- chometer provider Tachodisc for truck assistance, insurance and warranties in the UK, and the partnership of AXA Assistance with the developer of the SKI360 app in France for travel cover. In the US, American Express has joined forces with BBVA Com- pass (as issuer) and the National Basketball Association (as affinity partner) for an eye-catching new affinity credit card. Moreover, the impending launch of the Plenti coalition loyalty program in the US, which is being developed by American Express and several major commercial partners, could well give rise to a significant new co- branding program in future. Meanwhile, in the world of mobile payments, MasterCard and Visa have announced that they will work with Samsung for ‘Samsung Pay’, a mobile payment service that allows cardholders to use a Sam- sung Galaxy S6 phone for
    [Show full text]
  • Releasing the Flow of Digital Money Hitting the Tipping Point of Adoption
    RELEASING THE FLOW OF DIGITAL MONEY HITTING THE TIPPING POINT OF ADOPTION The benefits of digital money are clear, yet global adoption rises by only a small amount every year. Can prioritizing high frequency and high reach money flows push consumer behavior toward the crucial tipping point of adoption? Sandeep Davé Ashwin Shirvaikar Greg Baxter January 2016 Digital Money | Releasing the Flow of Digital Money | January 2016 1 Table of Contents 3 Foreword 4 Introduction 4 Digital Rising, but Cash Still King 5 How Ready Are We? 5 The Value of Connection 6 On the Horizon 7 Part 1. The Ends of the Index: An Unexpected Result 0 1 Movement Slow at the Lower End 11 Continuing to Peak at the Top 13 Part 2. Hitting the Tipping Point: The Five Flows of Digital Money 3 1 It’s About More Than Solutions 17 Keeping It Digital 18 The Digital Money Solution Map 20 G2P Payments 21 Remittances 21 Retail 22 E-Commerce 22 SME Collections 24 Part 3. Future Flow 4 2 Interoperability is Critical 24 Banks to the Rescue? 25 Getting the Timing Right 25 Conclusion 26 Appendix: 2016 Index Results 28 Footnotes © 2016 Citigroup 2 Digital Money | Releasing the Flow of Digital Money | January 2016 Sandeep Davé Sandeep Davé is a Director for Global Digital Strategy at Citi where he works across Citi’s businesses to develop digital strategies and drive Citi’s digital transformation. Prior to Citi, Sandeep was a Principal with Booz and Company, a leading general management consulting firm, where he held several leadership roles including starting up its India business.
    [Show full text]
  • Smooth Sailing for Danish Payments
    April 2016 Issue 530 www.cardsinternational.com SMOOTH SAILING FOR DANISH PAYMENTS • DIGITAL: Moven • PAYMENTS: Cards v.s. Mobiles • PRODUCTS: Charities & Contactless • COMMENT: Worldpay CI 530.indd 1 01/04/2016 15:33:47 Multichannel digital solutions for fi nancial services providers To fi nd out more about us please visit: www.intelligentenvironments.com Intelligent Environments is an international provider of innovative mobile and online solutions for fi nancial services providers. Our mission is to enable our clients to always stay close to their own customers. We do this through Interact®, our single software platform, which enables secure customer acquisition, engagement, transactions and servicing across any mobile and online channel and device. Today these are predominantly focused on smartphones, PCs and tablets. However Interact® will support other devices, if and when they become mainstream. We provide a more viable option to internally developed technology, enabling our clients with a fast route to market whilst providing the expertise to manage the complexity of multiple channels, devices and operating systems. Interact® is a continuously evolving technology that ensures our clients keep pace with the fast moving digital landscape. We are immensely proud of our achievements, in relation to our innovation, our thought leadership, our industrywide recognition, our demonstrable product differentiation, the diversity of our client base, and the calibre of our partners. For many years we have been the digital heart of a diverse range of fi nancial services providers including Atom Bank, Generali Wealth Management, HRG, Ikano Retail Finance, Lloyds Banking Group and Think Money Group. IE RBI final design.indd 1 17/09/2015 11:21:32 Cards International EDITOR’S LETTER CONTENTS EDITOR’S LETTER 2 COMMENT: CONFERMA/THAMES CARD TECHNOLOGY New £30 limit proves instant Simon Barker from Conferma discusses how virtual card numbers can aid corporate payments.
    [Show full text]
  • Showguide 2015
    1-3 DECEMBER 2015 // ISTANBUL, TURKEY A GLOBAL GATHERING OF SENIOR LEADERS FROM THE PAYMENTS INDUSTRY Co-located with SHOWGUIDE Founding Partner Host Operator Host Bank Partner Payments Accelerator Sponsor Gold Sponsors Workshop Sponsor Bronze Sponsors Exhibitors Partners www.mobile-money-global.com Follow us @mobilemoneyhub #MMGlobal Oversee & Truly Regulate National Mobile Payment Services PS-mpClear is a real-time mobile payment switch for processing and clearing inter-bank and inter- processor mobile payment transactions, while enabling Clearing Houses to assume their regulatory role through its means to oversee and control the financial stability of the provider(s) of the mobile payment service and assure their compliance with the Clearing House’s regulations. PS-mpClear also processes and switches mobile financial and non-financial transactions in STP basis and routes messag- es between multiple mobile payment service providers ensuring interoperability. To learn more about PS-mpClear, please visit: www.progressoft.com/ps-mpclear or contact us at [email protected] 2 www.mobile-money-global.com WELCOME NOTE Oversee & Truly Regulate 1-3 DECEMBER 2015 // ISTANBUL, TURKEY Welcome to Istanbul! at the Payments Dragons’ Den. Make sure you also National Mobile Payment Services It is with great delight that we welcome you to join us at 17:45 on 2 December for the presentation Mobile Money & Digital Payments Global 2015, of the 2015 Global Payments Awards! co-located with Payments Security & Authentication There really is something for everyone – so take a and Merchant Payments. look through this programme to plan out the next It has been such an exciting year for payments few days of your visit! around the world.
    [Show full text]
  • RESTRICTED S/FIN/W/88/Add.1 13 June
    RESTRICTED S/FIN/W/88/Add.1 13 June 2016 (16-3234) Page: 1/18 Committee on Trade in Financial Services FINANCIAL INCLUSION AND THE GATS - BARRIERS TO FINANCIAL INCLUSION AND TRADE IN SERVICES - NOTE BY THE SECRETARIAT1 Addendum This Note has been prepared at the request of the Committee on Trade in Financial Services, to serve as background information for discussions on the trade-related aspects of financial inclusion. _______________ 1 INTRODUCTION 1.1. This Addendum has been prepared at the request of Members, in order to further discuss barriers to financial inclusion (an issue referred to in paragraph 4.1 of the previous Note (S/FIN/W/88)). In keeping with the Committee's focus, and in light of Members' comments, the Note discusses the barriers to financial inclusion from a trade perspective, exploring not only the nature of those barriers but also the role that trade – and trade policy – in financial services plays in overcoming such barriers. Before discussing the barriers to financial inclusion, it is worth recalling that, as explained in Section 2 of the previous Note, financial inclusion is a complex and multi-dimensional issue, and as such it has acquired a multitude of meanings. A distinction is usually drawn between access to and use of financial services, the former being primarily about the supply of services, whereas the latter is basically determined by demand (World Bank, 2014). However, although it is possible to distinguish between access to and use of financial services, both concepts are closely related and policy makers tend to adopt a broad definition of financial inclusion that focuses on its various dimensions, notably access to financial services, use of financial services, and quality of financial services.
    [Show full text]
  • Global Affinity AFFINITY BANKING Finance Club
    AFFINITY INSURANCE AUTUMN 2016 BANCASSURANCE Global Affinity AFFINITY BANKING Finance Club Finaccord’s newsletter about affinity financial services worldwide Welcome back to your Club! In addition to two major new bancassurance deals in Europe, namely those of Allianz with HypoVereinsbank in Germany (scheduled to replace the bank’s existing arrangement with ERGO from the start of 2018) and of Matmut with BNP Paribas in France, the autumn also witnessed a slew of initiatives in the automotive sector that reflect the changing mobility habits of customers world- wide when it comes to both buying and using vehicles. New relationships with established automotive competitors included those of Amaguiz (a subsidiary of Groupama) with DIAC (the France-based vehicle finance arm of Renault) for telematics-enabled motor insurance, Europ Assistance with the Portuguese arm of Ar- val plus the RAC and VHD for road assistance, HDFC Bank with Suzuki for ’two-wheeler’ finance, and UK General with Motorplus for various automotive insurance, warranty and assistance products. Meanwhile, those involving emerging partner organisations in this field were those of Europ Assistance with the Italian branch of car club DriveNow for road assistance, HDFC ERGO with online mo- tor insurance platform RenewBuy in India, MasterCard with interna- tional minicab app Uber in Sri Lanka, Mercedes-Benz Financial Ser- vices with online vehicle finance specialist AutoGravity in the US, Toyota Financial Services with peer-to-peer car sharing firm Ge- taround in the US and Uber in India, Visa with taxi service firm TABcab (also in India), and Wirecard with ADAC’s Europe Net for prepaid cards for fleet vehicle drivers and managers in Germany.
    [Show full text]