Scaling Innovations in Mobile Money (SIMM) Project Quarterly Progress Report: Second Quarter 2012

Agency for International Development (USAID) to expand financial services in the Philippines. The project aims to increase financial inclusion for broad-based economic growth by boosting the expansion and rapid adoption of mobile money services and creating an enabling environment for mobile money. SIMM targets three broad areas of strategic intervention: the payment system, government services, and electronic payroll (e-payroll) distribution. The project is working with various national and local government agencies and the private sector to build and strengthen the local components of the mobile money ecosystem in select pilot areas. Significant progress was made in the second quarter of 2012 on national and local partnership-building initiatives, which are key in accelerating mobile money adoption for government services, payroll, and other major payment and revenue streams. SIMM successfully obtained the buy-in of major partners representing various stakeholder segments, including business, the microfinance sector, and government. Strategies for the piloting of mobile money ecosystems in select geographical locations, known as SIMM Cities, were formulated and groundwork was initiated in Batangas City, one of SIMM's Year 1 pilot areas. A major milestone for this quarter was the signing of memoranda of understanding (MOUs) and non-disclosure agreements (NDAs) with SIMM's mobile money partners, BPI-Globe BanKO, G-Xchange, Inc., and Smart Communications, Inc. These partnerships formalized the industry's commitment to work with SIMM and achieve the mutual goal of financial inclusion. The project's focus on building and strengthening the local components of the mobile money ecosystem is expected to contribute to the expansion and rapid adoption of mobile money services, ultimately increasing financial inclusion and promoting broad-based economic growth. SIMM's efforts to build and strengthen the local components of the mobile money ecosystem are centered on three key areas: government services, electronic payroll distribution, and the payment system. The project is working to create an enabling environment for mobile money by building partnerships with various stakeholders, including government agencies, the private sector, and microfinance institutions. The project's focus on government services includes initiatives to promote the use of mobile money for government-to-person (G2P) transactions, such as social security benefits and conditional cash transfers. Electronic payroll distribution is another key area of focus, with SIMM working to promote the use of mobile money for payroll transactions. The payment system is also a key area of focus for SIMM, with the project working to promote the use of mobile money for person-to-person (P2P) and person-to-government (P2G) transactions. By building and strengthening the local components of the mobile money ecosystem, SIMM aims to increase financial inclusion and promote broad-based economic growth. SIMM's efforts to build and strengthen the local components of the mobile money ecosystem are expected to contribute to the expansion and rapid adoption of mobile money services, ultimately increasing financial inclusion and promoting broad-based economic growth. The project's focus on government services, electronic payroll distribution, and the payment system is expected to create an enabling environment for mobile money, ultimately contributing to the project's overall goal of increasing financial inclusion and promoting broad-based economic growth.