ABSTRACT
Mobile money refers to a suite of financial services offered through mobile phones and other handheld mobile devices. The Indian mobile market has continued to witness rapid increase in its subscriber base largely due to declining mobile tariffs and availability of low-cost handsets in the country. ZERO Microfinance and Savings Support Foundation (ZMF) has been a pioneer in the field of financial inclusion space as a business correspondent to twenty-five banks in India including the State Bank of India (SBI). Internet browsing via mobile phones will reduce costs of financial transactions and enable new players to offer financial services. New business models will emerge in partnerships with a wide range of stakeholders, from grass-roots organisations to local businesses, to telecommunications companies and to governments. The company has tie-ups with fourteen banks, twenty microfinance's (MFI) and three insurance companies for providing smart cards to rural customers and to the unbanked population in urban areas.
