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Global mobile regulator introduces rules for mobile money providers

The GSMA has launched a code of conduct for Mobile Money Providers that ranges from measures to safeguard customer funds to ensuring reliable service provision.

The first mobile network operators (MNOs) to endorse the Code are Airtel, Avea, Axiata, Etisalat, Millicom, MTN, Ooredoo, Orange, Telenor, Vodafone and Zain. Together, these MNO groups represent 82 mobile money deployments operating in 51 countries.

“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.

“The GSMA strongly encourages all of its members offering mobile money services to endorse the Code that we’ve introduced today.”

The MNOs that have subscribed to the Code of Conduct commit to also maintain effective mechanisms to combat money laundering and terrorist financing, equip and monitor staff and agents, communicate clearly to enable customers to make informed decisions and collect, process or transmit personal data fairly and securely.

The GSMA is also working with members and expert organisations in developing recommended business practices to provide guidance on how groups and country-level mobile money providers can effectively operationalise the principles that underlie the Code.

 

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