The GSMA Mobile Money Certification defines and promotes excellence in the provision of mobile money services. It is based on independent assessments of a provider's ability to deliver secure and reliable services, to protect the rights of consumers and to combat money laundering and the financing of terrorism. These efforts are measured against global industry best practice. The Certification enhances consumer trust, accelerates commercial partnerships, and sets a public bar to which all providers can aspire.
In order to become certified, mobile money providers are assessed against almost 300 criteria, which require that they:
- Safeguard customer funds against risk of loss
- Combat money laundering, terrorist financing and fraud
- Manage staff, agents, and third parties correctly
- Operate the service well and reliably
- Ensure the security of the systems supporting the service
- Communicate fees, T&Cs and information transparently to customers
- Effectively address customer service requests and complaints
- Protect customers’ personal data.
Why certify?
The GSMA Mobile Money Certification is the only global certification scheme that is designed specifically for mobile money. Fundamentally, the Certification is about enhancing trust and empowering consumers to make more informed choices about their financial services. This encourages mobile money adoption and advances financial inclusion. It gives assurances to potential financial partners that robust controls are in place, facilitating interoperability and encouraging integration into the financial ecosystem. The Certification also aims to build trust with regulators and encourage the implementation of appropriate and proportional regulatory standards.
