Multiperspectives of Mobile Money System Development at the Base of the Pyramid: Case of e-Masary in Egypt

This paper highlights how the motives, utility and benefits, and challenges of Mobile Money Systems (MMS) shape the financial inclusion in today’s dynamic environment and increase its sustainability. Recently, Mobile Network Operators (MNOs) have been acting as financial service providers to tap the unbanked population at the Base of the Pyramid market (BoP). This approach of bankless banking requires a network of private, non-governmental, retail agents, and governmental organizations to develop and implement a sustainable MMS. Such networks are constantly changing and growing and it is vital for the successful enhancement and evolution of these systems that they adapt to these changes. Appropriate development of a correct system in accordance to different institutions’ needs helps to reconcile different (sometimes conflicting) economic and social goals and maintain high level of sustainability.The environment of MMS development represents a wicked problem situation that requires an inclusive Kantian approach to reconcile the disparate views of individuals, groups, and organizations that constitute this type of information society. "People only see what they are prepared to see" (Ralph Waldo Emerson cited in Holmes, 2007). Interestingly enough that it has been said long time ago and we all know it very well, yet ironically people fail to accept, digest or even see other perspectives or different point of views other than their own (Mitroff & Linstone, 1993). Their various viewpoints are contingent by their indigenous experiences and day-to-day situations and no party can be claimed as the holder of all strands of knowledge or absolute truth. It is argued that while the financial sector in Egypt has been resilient to the global financial crises and the political unrest following the 25th of Jan revolution, it has failed to provide stable and equitable access to finance (Farazi et.al, 2011).During this period of time the position of each actor in the payment and the transfer value chain remains highly awkward in the proposed mobile solutions. Macro-level actors (e.g., Central Bank) do not want to lose control, while others would like to fully control the end-user relationship (e.g., MNOs).Therefore, tussles are likely in any solution, if we want to go forward. This explains why numerous actors which have attempted to launch systems with a full control or who have sought to by-pass the current incumbent (i.e., Microfinance Institutions, MNOs) have faced dismal results.This motivated us to analyze the unique case of e-Masary for mobile money and payment services from multiple perspectives (i.e. From organizational, technical and personal views) (Linstone, 1989). This trilogy will help to investigate how multilayer stakeholders see the benefits and challenges of MMS being developed in the case of e-Masary and how to make it more sustainable. In doing so, the Multiview framework (Avison & Wood-Harper, 1998) has been adopted as a methodology for data collection and interpretation aiming to capture a rich picture of the study results and deeper understanding of the phenomenon.