How well do you know the costs of mobile money?

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More evidence, less poverty

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Dear John,

As we continue sharing the great strides IPA has made to build more evidence about what works across sectors, we want to take a minute to share and celebrate our Financial Inclusion Program's

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most recent accomplishment with you.

The Financial Inclusion Program recently developed the Transaction Cost Index

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, which compares mobile money costs, including associated platform fees and taxes, across 16 countries in Africa, Latin America, and Asia. The index is also supplemented by fieldwork that explores hidden transaction costs in Bangladesh, Tanzania, and Uganda.

So, how much does mobile money actually cost? Take Musa’s experience for example. When Musa first got a job in Dar es Salaam, Tanzania’s commercial capital, to send money back to his family, he would have to fill an envelope with cash, wait at a bus stop, and give the money to the bus driver heading in the direction of his family’s rural home. Musa’s family would walk to the nearest bus stand and—if everything went according to plan—receive the cash when the bus arrived. Now, as mobile money has become widespread, he can simply send money using his phone and his family can withdraw cash from a nearby agent. While convenient, this digital option can be quite expensive.

How expensive? Take this quiz to see how well you know the costs of mobile money!

What percentage of the transfer amount does Musa’s family pay in transaction fees and taxes?

19 percent

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25 percent

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11 percent

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None

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Without evidence, decision-makers often have to guess the answers to questions like these. IPA works with researchers and our partners to generate evidence, like the Transaction Cost Index, on what works to improve the lives of people living in poverty, to help organizations and governments make informed, evidence-based decisions.

Donate now to support efforts like these!

Give Now

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​​​​Thank you for taking our quiz and being a part of our community!

Sincerely,

The IPA Team

Sent to [email protected] by Innovations for Poverty Action (IPA)

Innovations for Poverty Action

1701 Rhode Island Ave NW, 3rd Floor

Washington, DC 20036

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