Comparing MFS in Kenya, Philippines and South Africa under 7 P Evaluation Framework

Mobile financial services has brought a revolution in developing nations. More and more people from the rural areas are now using financial services provided by mobile phones. Though still in its infancy its potential is tremendous. Mobile payment services have made it easy n cost effective to transfer money from one corner of the world to another improving the lives of many underprivileged worldwide. Different Payment systems by different providers are available in different developing nations. However the success of few mobile payment systems – like M-Pesa of Kenya, GCash and SmartMoney of Philippines and WIZZIT and MTN of South Africa are unprecedented. In spite of their cultural, social and economic differences, Mobile payment has been widely accepted and used in these countries. In this paper we have studied these successfully implemented paymentsystem around proposed a 7 P evaluation framework. General Terms Mobile financial Service, M-Payment, Mobile Network Operator