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The Reality of Mobile Payment Systems and Social Inclusion in Latin America

The Reality of Mobile Payment Systems and Social Inclusion in Latin America

Myriam Martínez-Fiestas, Katia Oviedo-Cáceres, Ignacio Rodriguez-Garzon
Copyright: © 2016 |Pages: 23
ISBN13: 9781522502364|ISBN10: 152250236X|EISBN13: 9781522502371
DOI: 10.4018/978-1-5225-0236-4.ch005
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MLA

Martínez-Fiestas, Myriam, et al. "The Reality of Mobile Payment Systems and Social Inclusion in Latin America." Securing Transactions and Payment Systems for M-Commerce, edited by Sushila Madan and Jyoti Batra Arora, IGI Global, 2016, pp. 94-116. https://doi.org/10.4018/978-1-5225-0236-4.ch005

APA

Martínez-Fiestas, M., Oviedo-Cáceres, K., & Rodriguez-Garzon, I. (2016). The Reality of Mobile Payment Systems and Social Inclusion in Latin America. In S. Madan & J. Arora (Eds.), Securing Transactions and Payment Systems for M-Commerce (pp. 94-116). IGI Global. https://doi.org/10.4018/978-1-5225-0236-4.ch005

Chicago

Martínez-Fiestas, Myriam, Katia Oviedo-Cáceres, and Ignacio Rodriguez-Garzon. "The Reality of Mobile Payment Systems and Social Inclusion in Latin America." In Securing Transactions and Payment Systems for M-Commerce, edited by Sushila Madan and Jyoti Batra Arora, 94-116. Hershey, PA: IGI Global, 2016. https://doi.org/10.4018/978-1-5225-0236-4.ch005

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Abstract

This chapter describes the role of mobile payment systems in Latin America as a means leading ultimately to social inclusion and financial inclusion. Specifically, the first section will discuss the social disparity in Latin America and the existence of financial and social exclusion. The second section will analyze Latin America's mobile payment systems, the region's current panorama of mobile money, the general trends that characterize money and the business models used for mobile money.The third section will review mobile money as a mechanism of financial inclusion and its role in reducing poverty in Latin America. This section will also analyze the barriers to financial inclusion.The fourth section will focus on the risks of mobile payment systems such as money laundering and terrorism funding.The chapter will conclude by comparing the similarities and differences of mobile payment systems that contribute to social inclusion implemented in Brazil, Colombia, Mexico, Paraguay and Argentina.

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