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DIRECTIONS (Qs. 136-140):
Read the passage carefully and answer the questions given below it. Certain words/ phrases have been given in bold to help you locate them while answering some of the questions.
Mobile technology is transforming the global banking and payment industry by providing added convenience to existing bank customers in developed markets, and by offering new services to the unbanked customers in emerging markets. While consumers and governments are keen to adopt mobile technology for government-to-person (G2P) payments, intermediaries are creating barriers as they end up losing a good source of income.
Any new product for the G2P market needs to consider the incentives and motivations of all parties involved in the current value chain. As banks, mobile network operators (MNOs), NGOs and for-profit firms build new services to seize the opportunity to reach the large unbanked population, they must take time to understand the needs of customers. Even within a country, there are distinct differences in customer needs in urban and rural areas, and across segments. This has the potential to unlock a large untapped market. This opportunity has attracted several new players ranging from MNOs and start-ups to companies from adjacent industries such as retail, each trying its own business model to succeed in this new world. The influx of so many players and services has created confusion for customers, lack of coordination among players and limited scale for a single company. History tells us that after the initial stage of confusion, the dust eventually settles down as a few winners emerge.
Read the passage carefully and answer the questions given below it. Certain words/ phrases have been given in bold to help you locate them while answering some of the questions.
Mobile technology is transforming the global banking and payment industry by providing added convenience to existing bank customers in developed markets, and by offering new services to the unbanked customers in emerging markets. While consumers and governments are keen to adopt mobile technology for government-to-person (G2P) payments, intermediaries are creating barriers as they end up losing a good source of income.
Any new product for the G2P market needs to consider the incentives and motivations of all parties involved in the current value chain. As banks, mobile network operators (MNOs), NGOs and for-profit firms build new services to seize the opportunity to reach the large unbanked population, they must take time to understand the needs of customers. Even within a country, there are distinct differences in customer needs in urban and rural areas, and across segments. This has the potential to unlock a large untapped market. This opportunity has attracted several new players ranging from MNOs and start-ups to companies from adjacent industries such as retail, each trying its own business model to succeed in this new world. The influx of so many players and services has created confusion for customers, lack of coordination among players and limited scale for a single company. History tells us that after the initial stage of confusion, the dust eventually settles down as a few winners emerge.
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Question : 137
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