REPRESENTATIVES from local financial institutions were this morning brought up to speed on how mobile technology can be used for various transactions.
Director of the Center of Excellence for IT-enabled Innovation at the University of the University of the West Indies, Mona, Dr Maurice McNaughton, conducted a seminar at the 3Ws Oval where he shared the findings of research in mobile payment conducted in Jamaica in 2011.
McNaughton said mobile financial services has been embraced on a limited scale in places like Jamaica, Mexico, Brazil and Haiti and is doing well in Kenya.
He said the requisite legislation would have to be in place to allow countries to offer mobile financial services. (YB)
