About GSMA Standards Implementation
GSMA is a code of conduct for Mobile Money Providers. It is a set of principles aimed at promoting the adoption of good practices by mobile money providers. For mobile money sectors to continue to drive growth of the digital ecosystem providers want to ensure mobile money services are sound the channel is secure, and that the customer is treated fairly.
GSMA participation requires mobile money providers to conduct a self-assessment to determine compliance level, identify issues to address and ultimately become certified.
Why Implement the Code of Conduct
By endorsing the Code, Mobile money providers commit to:
- Safeguard customer funds against risk of loss
- Maintain effective mechanisms to combat money laundering and terrorist financing
- Equip and monitor staff, agents, and entities providing outsourced services to ensure that they offer safe and reliable services
- Ensure reliable service provision with sufficient network and system capacity
- Take robust steps to ensure the security of the mobile network and channel
- Communicate clear, sufficient, and timely information to empower customers to make informed decisions
- Develop mechanisms to ensure that complaints are effectively addressed, and problems are resolved in a timely manner; and
- Follow good data privacy practices when collecting, processing, and/or transmitting customers’ personal data
Contact our experts today to provide guidance on implementation of GSMA Standard