| The paper is mainly about how to transplant the city’s success of Alipay into rural area. The hurdles of encircle the rural areas from the city is that it needs the broadband network services and the binding of band cards. This is also the reason why the project of Mybank in rural failure in get big success.M-PESA is a mobile phone-based money transfer, financing and microfinancing service, launched in 2007 by Vodafone for Safaricom and Vodacom, the largest mobile network operators in Kenya and Tanzania. It has since expanded to Afghanistan, South Africa, India and in 2014 to Romania and in 2015 to Albania. M-PESA allows users to deposit, withdraw, transfer money and pay for goods and services easily with a mobile device. The service allows users to deposit money into an account stored on their cell phones, to send balances using PIN-secured SMS text messages to other users, including sellers of goods and services, and to redeem deposits for regular money. Users are charged a small fee for sending and withdrawing money using the service. M-PESA has spread quickly, and by 2010 had become the most successful mobile-phone-based financial service in the developing world. By 2012, a stock of about 17 million M-PESA accounts had been registered in Kenya. The service has been lauded for giving millions of people access to the formal financial system and for reducing crime in an otherwise largely cash-based society. In the theory aspect, the success of M-PESA has became the concerning topic in law science and finance industry. And it encouraged the student written the legal papers, for instance, Diana Sirila, the Harvard law school student, who’s master’s thesis is about how the M-PESA in Kenya be alternative to traditional commercial bank and became the main payment channel. So here express my special thanks to Diana Sirila’s thesis for it being this paper’s main reference literature.The success of Kenya was not that easy. The commercial bank and other telecommunication company were against the launch of M-PESA. The lack of legitimizing in M-PESA make it difficult to set forward. But the reason that the government allows the innovation of M-PESA outside the scope of legal regulation was the big usage of M-PESA. The service of M-PESA was competed with commercial bank, so it must accept the DE fact o regulation and the dejure statutory regulation. And the strategy made by Sararicom was continue to innovate, such as the launched of the M-ledger.From the success of M-PESA, it can conclude that the only right way for the Alipay is insist to innovation outside the scope of legal regulation. So far, the pay license approved by the center bank comes to the fact that the third party payment license, the prepaid card license and the mobile payment license are separated. As a result, it’s not good for innovation. The launch of the mobile payment in rural rely on the cooperation between the Alipay and the telecommunication. So those types of payment license need be unified. Then according to the fact in rural area, the Alipay and the telecommunication take different strategy to introduce an inclusive financial system and establish a rural financial system with high level, wide covering and great continuance which are adapting to the agriculture. |
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