The GSMA (the global trade body for the mobile industry) has recently introduced a Code of Conduct for Mobile Money Providers (MMPs). The code outlines eight key principles aimed at promoting the adoption of consistent risk mitigation practices by MMPs. The GSMA is working with its members to provide guidance on the implementation of the principles.
What this means for you
The code establishes a minimum requirement for all subscribers, with a view to ensuring that customers are treated in a fair manner and that their funds are processed securely through mobile networks. If applied consistently, the code should increase the quality of services for customers and as a result, contribute to customer satisfaction. Subscription to the code is voluntary but has been welcomed by major mobile network operators.