LIVE FROM GSMA MOBILE 360 AFRICA: A new code of conduct for mobile money providers from the GSMA has the backing of eleven operators.
The operators – the first to support the initiative – are Airtel, Avea, Axiata, Etisalat, Millicom, MTN, Ooredoo, Orange, Telenor, Vodafone and Zain.
The set of common business principles are designed to encourage the take-up of digital financial services.
The groups collectively have a significant footprint, representing 82 mobile money deployments in 51 countries.
The eight principles in the new code cover a variety of areas. They include safeguarding users’ funds against risk of loss.
Operators must also commit to ensure reliable money service by setting aside sufficient network and system capacity, as well as taking steps to ensure network and channel security.
Another commitment is to take good care of a user’s personal data, as well as communicating with them in a clear and timely manner so they can make informed decisions. And for operators to develop the mechanisms that ensure complaints and problems are resolved in a timely manner.
Operators must also monitor outsourced services to ensure their services are up to scratch too.
Furthermore, they must have the mechanism to combat money laundering and terrorist financing.
“By endorsing the code of conduct, mobile operators are demonstrating their commitment to offering safe and reliable services, which will strengthen the digital financial ecosystem by fostering consistent implementation of business practices that ensure service quality, enhance customer satisfaction, facilitate commercial partnerships, and build trust with regulators,” said Anne Bouverot, director general, GSMA.
Many of the operators supporting the code of conduct were part of an earlier initiative this year – also spearheaded by the GSMA – aimed at speeding up the deployment of interoperable mobile money services across Africa and the Middle East. The cooperation was part of GSMA’s global Mobile Money Interoperability (MMI) programme, which includes mobile network operators from other regions.