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User penetration grew for many operator m-wallets between 2019 and 2020, but Gcash (Globe Telecom) in the Philippines and Celcom (Celcom) in Malaysia were the star performers in our survey. The penetration of Gcash grew by 30 percentage points (pp) between 2019 and 2020 and that of Boost grew by 19pp (Figure 1). Users of these services were also considerably more likely to use them very frequently in physical commerce compared to users of other m-wallets (Figure 2).

Having the state as a formal partner is an advantage that is only available to the most important m-wallet players in certain countries; it is out of reach to the more marginal m-wallet players.2 However, there are actions that smaller m-wallet players can take to increase their chances of success.

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2 It should be noted that being a leading m-wallet provider in the pandemic also had its disadvantages: M-Pesa in Kenya sustained a 14.5% year-on-year revenue decline in 1H FY2020/2021 because the central bank mandated that it waive fees on transactions below USD10 throughout 2020.

However,things have changed quite dramatically since then. Asthe country went into a lockdown due to COVID-19, the Central Bank of Jordan(CBJ) took prompt measures to allow onlineregistration and electronic know your customer (KYC) verification for m-wallets.CBJ partneredwith the National Aid Fund (NAF) and Social Security Corporation (SSC) todistribute aid to vulnerable Jordanians through m-wallets. This was supported bymajor efforts to raise awarenessthrough social media platforms and television.

A recent nationalsurvey found other use cases gaining popularity aswell, such as paying phone bills or airtime top-ups, person-to-persontransfers, paying for utilities, and even making other online purchases. Still,the survey confirmed that most Jordanian users opened their m-wallets toreceive government aid.

Like Jordanians, we saw that among our Syrian participants,m-wallets were of most interest due to anticipation of receiving aid. During Round2 of our interviews in May 2020, there were already rumors within Syrianparticipant networks that they might need an m-wallet to receive monthlymulti-purpose cash assistance or other aid under COVID-19 response programs.

Ultimately,however, cash assistance was distributed through the regular channels ofIris-enabled ATMs. Thus, while Syrian participants may have gone as far asdownloading or even registering for an m-wallet, they did not use it at thattime.

Inthe push towards utilizing digital payments, including humanitarian transfers,a few organizations have run pilots to disburse cash assistance to refugeesthrough m-wallets. Although small in scale, these have provided someinteresting early lessons. For instance:

However,as observed in our research sample, the more prevalent reason for the lowuptake of m-wallets among refugee households was their perception of m-wallet usefulnessor, more to the point, its lack of usefulness.

For instance, the Digiances project at GIZ Jordan has been supporting two pilots with AyaPay and Dinarak for inbound and outbound cross-border remittances that went live in June 2020. This adds a critical digital income source that is potentially much greater than humanitarian payments. We did see a few interesting possibilities emerging from the FIND data where the financial strategies used by participants could be made more efficient if done digitally using m-wallets (see Figure 2 below).

With the increase ine-commerce, gig economy platforms, and other online marketplaces, m-walletsplay an essential role in facilitating payments. Instead of financial serviceproviders pushing for cashless payments, they could encourage uptake with morefocus on promoting ecosystems that support livelihoods for refugees andlow-income Jordanians.

Interpersonal domestic remittances are alreadyseen as a relevant use case of m-wallets, especially during the pandemic whenmobility has been severely affected. One modified use case for this purpose couldbe digital fundraising.

An m-wallet could ease these fundraising transactionsand even help refugees to reach out to a broader network. Similarplatforms implemented in East Africa are alsoinstructive. In Kenya, domestic digital fundraising platforms show that it ismore cost-effective for such services to be offered by existing trusted paymentplatforms rather than third-party providers.

Also, such services appear more successful once network effects have set in, as it might not necessarily encourage more users to sign up. But once the user base widens, m-wallet fundraising tools can be a valuable service for refugees (and low-income Jordanians).

One possible productcould be a labeled m-wallet with sub-accounts based on aspecific savings goal or purpose, to address the inadequacies of mentalaccounting. Such a product would combine behavioral prompts such as setting asavings goal and then issuing scheduled reminders. Such account should beoffered without withdrawal restrictions.

Thereis little doubt that m-wallets with their current use cases are nottransformative for refugees in Jordan. They might improve their financial livesonly marginally by, for example, delivering humanitarian payments or offeringconvenient bill payments. e24fc04721