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Safeguarding Mobile Money

This paper from the GSMA focuses on how regulators can effectively safeguard customer funds when a nonbank issues mobile money. In countries where this is permitted, regulators and nonbank mobile money issuers have taken a number of steps to mitigate the risk that the latter will be unable to reimburse their customers. The purpose of this paper is to help regulators and mobile money issuers better understand how to effectively safeguard customer funds against risk of loss due to (1) imprudent investment of customer funds, (2) insolvency of the mobile money issuer or trustee/fiduciary, or (3) insolvency of the bank holding the customer funds.

The GSMA represents the interests of mobile operators worldwide, uniting more than 750 operators with over 350 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. The GSMA also produces the industry-leading MWC events held annually in Barcelona, Los Angeles and Shanghai, as well as the Mobile 360 Series of regional conferences.

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