Mobile Money is a vast and fast-growing market that generates significant revenues for Mobile Network Operators. According to the GSMA, the global mobile money market reached $1 trillion in 2021 in transaction value, growing 14-fold from 68 billion in 2012, and is dominated by Sub-Saharan Africa (70%), followed by Asia (29%).
However, fraud is a growing threat that costs money, reputation and loyalty. According to Africa Tech: ‘Africa’s mobile fraud losses will continue to rise above last year’s USD 4 billion to peak at a record USD 5 billion by the end of 2021 if nothing is done to prevent global cybercriminals from looting the continent’s wealth.’
A Tier 1 African Operator is preventing fraud by using Creativity Software’s ready-to-use solution to incorporate real-time device location checks into the validation process of every Mobile Money transaction. This enables remote/online fraudulent transactions to be detected and declined in real time, helping them to deliver a service that customers and agents can trust, that will safeguard their money and prevent revenue losses. Download the full case study here
To find out more and benefit from our expertise, book a free consultancy session: email contact@creativitysoftware.net to reserve your slot today.
