Mobile Phone Banking Feasibility Assessment in El Salvador

The objective of this feasibility assessment on mobile phone banking study was to determine the feasibility of developing mobile phone solutions to expand access to financial services to under-banked and un-banked Salvadorans in all parts of the country. Specifically, the study assesses available technologies and the regulatory and policy environment for m-banking, as well as the existence and basic characteristics of potential partners and distribution networks with whom USAID could work to promote m-banking within its target population.

The study finds that there is a generally propitious environment for the ongoing development of m-banking in El Salvador—two initiatives are already operating—through a number of issues need to be addressed to promote m-banking’s long-term success and expansion to unserved and underserved populations.