A two-day ‘Indian Ocean/South Asia Mobile Payments and Banking Summit 2012’ will begin in Colombo on January 31, aiming to address the challenges, strategies and regulatory frameworks to step up mobile payments infrastructure in South Asia.

The upcoming summit will tackle the unique prospects and challenges for mobile payments in the emerging economies of Sri Lanka, India, Pakistan, Bangladesh and Nepal, said a release on Saturday. Magenta Global Pte Limited, a premier independent business media company that provides pragmatic and relevant information to government and business executives and professionals worldwide, will organise the event. 

The summit is supported by the Electronic Money Association, Prepaid International Forum, SIMalliance, Mobile Entertainment Forum and Global Platform.Bangladesh’s leading English daily the Independent is the media partner of the event.  

Some 70 percent of the South Asian population does not have access to mainstream banking though mobile penetration has achieved a significant growth with the 86.6 percent penetration rate in Sri Lanka, the highest in South Asia, according to the release.

Recognising that the rural masses present a huge opportunity for banks and retailers, banks and telecom operators must come together to offer innovative solutions to tap this emerging market, it said. Case studies of Easy Paisa, Global Desi, SMS-based bill payments and micro-credit transfers amongst others will be presented at the summit. 

It will also be a converging point for key players from the telecommunication, information technology and banking sectors to come together and share new insights. Speakers at the Summit include top representatives from the Central Bank of Sri Lanka, Pakistan Telecom-munication Authority, Bharti Airtel, Etisalat Lanka, Bangladesh Bank, CityCell, Sampath Bank PLC, Nepal Telecom, ICICI Bank, LIRNEasia, MCB Bank and Dhanlaxmi Bank.

Times of Money, a provider of digital payment solutions, and Analogics Tech India, a turnkey solution provider, are the associate sponsor and participating sponsor of the Summit respectively.

CEO of the conference organising company, Magenta Global, Singapore, Maggie Tan said, “The growing trend towards mobile banking cannot be ignored.South Asia with its huge untapped rural masses must capitalise on its potential. How to access banking securely and conveniently with the mobile phone is the key to its growth. The partnership between cellular operators and banks will provide unparalleled revenue opportunities.” 

The Daily Independent/Bangladesh/ 15th Jan 2012