Mobile Money Tipsheet: Common Myths about Mobile Money

  • Date Posted: December 17, 2014
  • Authors: Jaheed Parvez, Kazi Amit Imran, Josh Woodard
  • Organizations: FHI 360
  • Document Types: Primer or Brief, Primer or Brief
  • Donor Type: Non-US Government Agency

USAID promotes increased access to and usage of mobile financial services in order to deepen financial inclusion, accelerate broad-based economic growth, and instill transparency into funding flows. These tipsheets are intended to assist USAID implementing partners in Bangladesh to more effectively make use of mobile financial services. 

As mobile money is gaining in popularity, there are still many myths that exist surrounding its security, agents, fees, expenses, and utility. This Mobile Money Tipsheet debunks several of these myths by providing information and facts based on the Bangladesh Bank's regulations, mSTAR case studies, and MFS providers' products and services.