Methods and systems consistent with the present invention provide a data processing system having a business object model reflecting the data used during a business transaction. Consistent interfaces are generated from the business object model. These interfaces are suitable for use across industries, across businesses, and across different departments within a business during a business transaction.

Consistent set of interfaces derived from a business object model

Inclusive innovation is the means by which new goods and services are developed for and/or by the billions living on lowest incomes. Although a topic of increasing interest, it has been relatively under-researched and under-conceptualised to date. This article studies arguably the most successful new technology to reach low-income groups: the mobile phone, focusing specifically on its diffusion in Kenya. Systems of innovation are shown to be an appropriate frame for conceptualisation of inclusive innovation. However, the conventional content of this framework must be modified to allow for particular features of inclusive innovation, including the nature of innovations required, the actors involved and their interrelations, the type of learning they undertake, and the institutional environment in which they operate. Four system domains must be effective if inclusive innovation is to succeed: the product, its retailing and support, the micro-enterprises that provide these demand-side services, and the wider context.

https://link.springer.com/content/pdf/10.1057%2Fejdr.2013.7.pdf

Conceptualising Inclusive Innovation: Modifying Systems of Innovation Frameworks to Understand Diffusion of New Technology to Low-Income Consumers

Price discovery on Bitcoin exchanges

Research concerning mobile phones and financial services in developing countries has undergone rapid growth in recent years. This paper seeks to improve understanding of the current state of knowledge by reviewing the content of 43 research articles. A framework is developed that differentiates research activity according to a lifecycle model that incorporates financial needs, design, adoption and impact. The review finds that research to date has resulted in a high level of practitioner involvement, providing valuable links from the mobile phone industry to the research community but, as a consequence, research has become too narrowly defined. Thus, issues of assessing financial need and the measurement of impact have been comparatively neglected, while application design and adoption studies have received greater attention. This paper suggests a future direction for research and practice within the mainstream of micro-financial services and finance for the poor, correcting this imbalance, and c...

Mobile Phones and Financial Services in Developing Countries: a review of concepts, methods, issues, evidence and future research directions

M-PESA is a small-value electronic payment and store of value system that is accessible from ordinary mobile phones. It has seen exceptional growth since its introduction by mobile phone operator Safaricom in Kenya in March 2007: it has already been adopted by 9 million customers (corresponding to 40 percent of Kenya's adult population) and processes more transactions domestically than Western Union does globally. M-PESA's market success can be interpreted as the interplay of three sets of factors: (i) pre-existing country conditions that made Kenya a conducive environment for a successful mobile money deployment; (ii) a clever service design that facilitated rapid adoption and early capturing of network effects; and (iii) a business execution strategy that helped M-PESA rapidly reach a critical mass of customers, thereby avoiding the adverse chicken-and-egg (two-sided market) problems that afflict new payment systems.

https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1930820_code829576.pdf?abstractid=1593388&mirid=1&type=2

Mobile payments go viral : M-PESA in Kenya

Vodafone Group) launched M-PESA, an innovative payment service for the unbanked. “Pesa” is the Swahili word for cash; the “M” is for mobile. Within the first month Safaricom had registered over 20,000 M-PESA customers, well ahead of the targeted business plan. This rapid take-up is a clear sign that M-PESA fills a gap in the market. The product concept is very simple: an M-PESA customer can use his or her mobile phone to move money quickly, securely, and across great distances, directly to another mobile phone user. The customer does not need to have a bank account, but registers with Safaricom for an M-PESA account. Customers turn cash into e-money at Safaricom dealers, and then follow simple instructions on their phones to make payments through their M-PESA accounts; the system provides money transfers as banks do in the developed world. The account is very secure, PIN-protected, and supported with a 24/7 service provided by Safaricom and Vodafone Group. The project faced formidable financial, social, cultural, political, technological, and regulatory hurtles. A public-sector challenge grant helped subsidize the investment risk. To implement, Vodafone had to marry the incredibly divergent cultures of global telecommunications companies, banks, and microfinance institutions –and cope with their massive and often contradictory regulatory requirements. Finally, the project had to quickly train, support, and accommodate the needs of Nick Hughes and Susie Lonie

/pdf/m-pesa-mobile-money-for-the-unbanked-turning-cellphones-into-79k1zwr7cc.pdf

M-PESA: Mobile Money for the “Unbanked” Turning Cellphones into 24-Hour Tellers in Kenya

In a wireless communications network, a system is provided for securely executing the transfer of rights between holders of accounts. The secure transfer of messages may represent the exchange of title to monetary assets. Each title holder is provided with a SIM card containing a transaction application that can interpret menu messages, accept user inputs and generate transaction messages for processing by the system. Each of the menu and transaction messages is delivered as a short messaging service message. The holder inserts his SIM into a mobile handset, and (after authentication with the system) is permitted to interact with the system to conduct rights transfer transactions. Since the transactions are in the form of simple text messages, the mobile handset need not conform to a high specification (i.e. may not support GPRS).

Mobile account management

finance started a trial of a radically different savings product called Jipange KuSave (JKS). In Swahili, Jipange KuSave means to plan or organize oneself to save. What made this savings product unique was that it was accessible only via M-PESA, Kenya’s hugely popular mobile money service, and was designed specifically to help Kenyans with low, unpredictable incomes save substantial amounts of money. The idea behind JKS was to “reinvent” microfinance in a market where millions of poor people currently move their money around in digital form rather than in cash. Combining saving and borrowing in a single convenient product, JKS embraced the attributes of mobile delivery, including small low-cost transactions, personalized programs, and rapid customer-initiated progress through a structured “lend-to-save” program. After nearly 18 months and three trial phases with about 1,000 customers, the JKS product has proven its demand among low-income customers, established scalable operational processes, and shown itself to be profitable. While the initial success of JKS must now be proven with a larger customer base, its success thus far

/pdf/liquidity-and-savings-in-the-age-of-m-pesa-innovations-case-2td7i9s8wz.pdf

Liquidity and Savings in the Age of M-PESA (Innovations Case Narrative: Jipange KuSave)

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M-PESA: Mobile Money for the “Unbanked” Turning Cellphones into 24-Hour Tellers in Kenya

Mobile account management

Liquidity and Savings in the Age of M-PESA (Innovations Case Narrative: Jipange KuSave)