ABSTRACT
This chapter discusses some of the recommendations to be implemented in the current regulatory framework in order to improve its capability to efficaciously watch over the mobile payment industry. By identifying the disparities in the regulations, the chapter proffers appropriate recommendations to ensure proper administration of the industry but simultaneously allowing mobile payments to flourish without hindrance. By invoking the various principles that underpin an ideal regulatory system, the chapter seeks to establish apposite laws to govern payment provisions at a time when they are growing at a very fast rate. In order to achieve and maintain financial inclusion through mobile payments, the chapter outlines the various factors that policy-makers must take into consideration before establishing a legal framework that may also act as a touchstone of governance for regulators in other emerging markets.
