Understanding the ‘Cost of Cash’ for Low Income Clients: Why and How?

• by Nitin Garg, Suresh Krishna, Veena Yamini and Valerie Rozycki
• Sep 6, 2010
• 1 min
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MicroSave developed a “cost of cash” tool specifically around for understanding the pain involved in cash transactions which helps e/m-banking stakeholders to discover which suite of transactions to focus on.

Identifying the right Customer Value Proposition (CVP) is essential for the large scale adoption of m-banking or mobile money services. MicroSave developed a “cost of cash” tool specifically around for understanding the pain involved in cash transactions (with an eye towards presenting an m-banking solution to alleviate the pain), which helps e/m-banking stakeholders to discover which suite of transactions to focus on. The initial research results helped mChek in India to refine its overall un/under-banked strategy and in developing new service offerings for its partners and end-clients. These are described in more detail in IFN 52 “Removing the Pain from Using Cash: An M-banking Solution?”