A large number of bank and non-bank PPI issuers (mobile wallet issuers) also leverage on this channel and have introduced their own mobile applications. 28. Till recently, the mobile banking applications were largely operating in silos, particularly for merchant payments (which had to be routed as P2B push payments), and generally not interoperable across merchants and customers of different banks.
I would like to conclude by emphasising that, even if we were to see investor confidence in early stages and high-tech sectors fully restored, much still has to be done to create an innovation-friendly climate. On our way to higher innovation rates, we need a favourable environment for “grass-root” activities.