Insights into Seychelles Mobile Payment System
Discover the current state of mobile payments in Seychelles, with details on population, mobile subscriptions, online purchasing trends, and upcoming mobile payment introductions. Learn about the regulatory landscape and efforts to protect consumers from unfair trade practices in the country.
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Presentation Transcript
Livingstone Zambia These views are mine and don t reflect the official position of Seychelles FTC
Seychelles has a population of 90,000 There are 2 Mobile Service Providers There are 139,171 Mobile Subscriptions Moreover, 8,045 are subscribed to mobile broadband services
Online purchasing is on the rise in the Seychelles Unfortunately laws and regulations need to be enacted to protect consumers from unfair trade practices Consumer Protection under S.28 makes provision for distance selling regulations but these regulations are yet to be drafted
Mobile payment is yet to be introduced in the country (MPOS) Telecom companies have expresses their interest to provide such services The mobile payment project is a private sector driven project within the ambit of the payment system modernization The initiated country-wide mobile payment solution is expected to bring about further enhancements to the payment systems in Seychelles Expected to go live in 2014
The Central Bank was given approval by Cabinet of Ministers to draft new laws to govern this payment system, since existing laws have certain limitations to regulate Mobile Payment A draft directive has been issued and needs to be finalized New laws should seek to protect consumers from unfair trade practices
