Ericsson ConsumerLab Report: M-Commerce in Latin America shows that the majority of people in Latin America who are not using m-commerce services today would be interested in using such services in the future. Convenience and security are important drivers for m-commerce in the region. Lack of trust in the services, perceived low network quality and a general knowledge gap among consumers are barriers to overcome in securing greater spread of m-commerce.

1. M-COMMERCE IN
LATIN AMERICA
June 2013

2. Contents
Ericsson ConsumerLab has more than 15 years experience
of studying people’s behaviors and values, including the
way they act and think about ICT products and services.
Ericsson ConsumerLab provides unique insights on market
and consumer trends.
Ericsson ConsumerLab gains its knowledge through a
global consumer research program based on interviews with
100,000 individuals each year, in more than 40 countries and
15 megacities – statistically representing the views of
1.1 billion people. Both quantitative and qualitative methods
are used, and hundreds of hours are spent with consumers
from different cultures.
To be close to the market and consumers, Ericsson
ConsumerLab has analysts in all regions where
Ericsson is present, which gives a thorough global
understanding of the ICT market and business models.
All ConsumerLab reports can be found at
www.ericsson.com/consumerlab
A BOOMING CONSUMER MARKET
STILL VERY MUCH A ‘CASHONOMY’
THE IMPORTANCE OF CONSUMER CONTROL
FAVORABLE CONDITIONS FOR M-COMMERCE
STRUGGLERS AND ACHIEVERS
SAFETY AND CONVENIENCE: KEY DRIVERS
SCEPTICISM AND KNOWLEDGE BARRIERS
THE CULTURAL LEGACY OF DISTRUST
UNLOCKING FUTURE POTENTIAL
3
4
5
6
7
8
9
10
11
2 ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA
Argentina
21% 30% 31% 28% 31%
BRazil Chile Mexico
Figure 1: Current Use of M-commerce
M-commerce
Mobile banking
Mobile wallet
Mobile shopping
Source: Ericsson ConsumerLab, Analytical Platform, 2012 Base: Internet users (Argentina, Brazil, Chile, Colombia, Mexico)
12% 20% 20% 20% 18%
7% 13% 11% 10% 12%
11% 15% 15% 14% 17%
Introduction
A wide range of mobile financial services – mobile pay-
ments, remittances and banking, exist in Latin America
but the market is largely fragmented and current use is
low. However, smartphone penetration in Latin America is
increasing rapidly and consumer interest in m-commerce is
at an all-time high.
Ericsson ConsumerLab has conducted a study into the
possibilities of widespread m-commerce adoption in Latin
America through interviews and studies in Brazil, Argentina,
Chile, Mexico and Colombia. With this report, we examine
consumer behavior and customs, the key drivers and bar-
riers to using mobile financial services, and how m-com-
merce can gain ground.
Colombia

3. A booming
consumer market
Latin America is a diverse continent, both culturally and
economically. On one hand, there is great prosperity, but on
the other, a unique set of challenges. The region is character-
ized by wide-ranging consumer profiles, representing varying
social conditions and a deep division between the richest
and the poorest. The markets covered in this study regularly
produce resilient annual GDP growth and reached nearly 3.5
percent in the last year alone.
Social mobility is common in the region. Over the past
decade, Latin America’s middle class grew 50 percent - the
equivalent of 50 million consumers. The middle class now
represents 30 percent of the population. Regardless, many
millions of people have been left behind, with poverty levels
ranging from 15 percent in Chile, to 50 percent in Mexico.
> Convenience Is a Key Driver
of M-commerce
The main driver for m-commerce among Latin
Americans is convenience. Depending on eco-
nomic status and financial inclusion, the con-
venience m-commerce can bring is expressed
in different ways. For unbanked consumers, in
this report referred to as ‘strugglers’, the main
benefit would be avoiding time-consuming lines
when paying bills. For consumers who already are
banked, ‘achievers’, m-commerce would mean
a more flexible everyday life, where payments,
shopping and other transfers can be handled
from anywhere at any time.
> Security and Control Essential
for Latin Americans
Latin America can be described as a ‘cashono-
my’, where cash is still the most common means
of payment for consumers. A majority of them
handle their economy exclusively in cash. While
cash is seen as convenient and easy to use, the
major drawback is safety concerns. The very
thought of not having to handle cash, or even
cards, is seen as a key benefit of m-commerce,
however hard to grasp since it still is a novel
concept. Control over one’s own economy is also
important for consumers; many of which keep
detailed budgets as well as record of expenses.
Having complete control over spending is impor-
tant, especially among ‘strugglers’ with lesser
economic margins.
> Widespread Consumer Distrust in
Institutions and Network Performance
Overall consumer distrust in institutions is an
obstacle in Latin America. Consumers are inher-
ently cautious and question the ability of the
mobile channel to deliver reliable and secure
m-commerce solutions. The consumer perception
that m-commerce transactions can be interrupted
or disturbed by an unreliable Internet connection
is a common fear. It is therefore paramount to im-
prove network reliability, and customer relations,
to build consumer trust. Another major barrier is
lack of knowledge. In order for consumers to fully
embrace m-commerce services, education and
validation from independent and trusted parties
are key factors. Government regulations to protect
the consumer are also imperative to gain trust.
key findings
ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA 3
Figure 2: The Growth of the Middle Class in Latin America and the Caribbean, 1995-2010
Source: The World Bank, Economic Mobility and the Rise of The Latin American Middle Class, 2012
Poor (US$0-US$4 a day)
Middle class and rich (>US$10 a day)
Vulnerable (US$4-US$10 a day)
1995
Middle Class Growth
(US$10-US$50 a day)
2010
39%
46%
23%
33%
36%
21%
41%
million people
2003 2009
million people

4. Still very much
a ‘cashonomy’
Figure 3: Financial Inclusion in Latin America
61%
48%
of the population is unbanked
of the labor force is informally employed
An Economy Built on Cash
In most markets in the study, ongoing regulation is tak-
ing place with the objective of financial inclusion. However,
Latin America is still very much a ‘cashonomy’. Whenever
and wherever possible, consumers in the region choose to
pay with cash, regardless of socioeconomic status. Infor-
mal workers receive their salary in cash and formal workers
often use an ATM to withdraw most or all of their salary on
pay day. Many save money at home rather than relying on a
bank account. This is especially common among low income
consumers.
In many places, cash is the only acceptable means of pay-
ment. Consumers simply need to carry cash with them to
make sure they are able to pay for a taxi fare, grocery shop-
ping at a local store, or when paying for certain goods or
services. It’s not uncommon for household bills to be paid
in cash too, especially when it comes to rent.
The Tangibility of Cash
Using cash is a natural part of people’s lives, and little
thought is given to why. Among consumers, cash is consid-
ered a fast, convenient and transparent means of payment
that provides a great sense of control over one’s spending.
Some stores that accept debit and credit cards implement
two queues for the customers – one queue for card pay-
ments and one for cash payments. Naturally, consumers
often find the cash queue faster.
Just as different discounts can be linked to specific credit
cards, paying in cash can also result in a discounted price in
for example Brazil, Argentina and Colombia.
Safety Issues a Concern
A big disadvantage of using cash is safety concerns. Crimi-
nality is a major concern in the everyday life in all markets in
the study, and many have first-hand experience of robberies.
Thus, consumers have developed individual strategies that
increase their sense of safety when forced to handle large
sums of cash. Keeping the money hidden close to the body
is one way of feeling more safe.
Conspicuous Consumption
Status purchases such as flat screen TVs, high-end smart-
phones and clothes from international brands, are prevalent
especially among middle class consumers. It is a way for
people to show others that they have accomplished a cer-
tain economic status. In order to afford it, large purchases
like these are often bought in installments, and it is not
unusual to be on multiple plans at the same time.
The bigger dream in people’s lives seem to revolve around
aspirations less conspicuous, such as buying your own
home, a new car, or perhaps even travelling or working
abroad.
“When I buy food I always pay cash with
the money I get from an ATM. That’s
because I have a hard time realizing
how much I spend when I use debit.”
— Male, 30, Argentina
4 ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA
Sources: World Bank Global Financial Inclusion Database, 2012
and International Labour Office, Labour overview, 2012

5. The importance of
consumer control
Control Over One’s Economy Important
People stress the importance of being in control over their
own economy. Many wage-earners begin each month by
settling all monthly bills, mortgage payments and rent. This
provides an overview of the means available for the rest of
the month.
Forgetting to pay bills on time is a major concern, mostly
due to the inconvenience of having to physically go to the
bank or to the bill recipient to pay in case of a missed due
date. This is prevalent in several of the countries in the study.
Detailed Accounting of Household Economy
The need for control manifests itself in the form of detailed
accounting of household incomes and expenditures. Budg-
eting is often quite formal and it is common to use note-
books or Excel sheets.
Control over one’s finances is important to the average
Latin American. Many people choose to keep records of
payments to avoid future problems. Payment verifications
are stored for a long time as evidence in case the payment is
challenged or for tax reasons. Payment verification via e-mail
or SMS is considered favorable.
Concerns Over Spending
Many consumers, independent of economic status, find it
difficult to control spending if funds are available. Despite
difficulty to control spending, middle and high-income earn-
ers appreciate constant access to their money. However,
low-income earners with more strained economies do not
find high accessibility as attractive.
Cash gives people a high degree of control over expenses,
but limits accessibility of funds in case of need. On the other
hand, cards and m-commerce solutions make funds readily
available, but increase the risk of overspending.
Cautiousness to Debt
Fear of debt, both from private loans and credit cards, is
commonplace, especially among low-income consumers.
Loans are considered both risky and costly, and many con-
sumers strive to repay loans as quickly as possible.
The purpose of loans differs between higher and lower
income consumers. Low-income consumers take loans
primarily to cover unforeseen expenses or to cover daily
expenses when their income fluctuates. Middle and high-
income consumers use loans for larger expenses, such as
buying a home or a car. Both consumer groups however
consider buying a home the most legitimate reason to take
a loan.
”If a bill is lying on the table in the
living room I’m afraid I will forget
about it. So I put reminders on the
mobile phone and on the fridge.
Once I forgot to pay for my medical
insurance. The next month I had
to pay for two months, it was
a lot.”
— Female, 43, Argentina
ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA 5

6. Many Consumers Lack Access
to Financial Services
A large portion of the Latin American population is left out-
side of the financial system, receiving their incomes in cash
and lacking bank affiliations, savings accounts, and credit or
debit cards.
At the same time, mobile penetration is high and smart-
phone adoption is increasing rapidly. In 2017, the smart-
phone penetration in the region is estimated to be over 60
percent*.
The low financial inclusion combined with the high mobile
penetration is opening up opportunities for m-commerce in
Latin America. Among consumers currently excluded from
the financial system, but connected through their mobile
phones, m-commerce can provide an attractive alternative
to traditional financial services.
From E- to M-commerce
Experience of online shopping, for items such as clothes,
electronics goods, and even food, is common among the
region’s achievers. The online marketplace Mercadolibre,
the largest e-commerce ecosystem in Latin America, is very
popular in the region.
Migration from e- to m-commerce is evident across this
vast region. Seven percent of Mercadolibre’s sales is via the
mobile channel. PayPal recently reported that 15 percent of
sales in Brazil and Mexico was carried out via mobile chan-
nels last year, and that this figure is increasing all the time.
Groupon, a deal-of-the-day website, reports that between
five and ten percent of sales is done via mobile in the region.
Searching for Deals and Discounts
It is common for a great number of consumers to seek out
deals and discounts at stores, supermarkets and shopping
malls. The degree to which consumers do this naturally cor-
responds to their financial situation – the more affluent the
less price hunting.
Consumers are interested in using their mobile phone for
this purpose. Two out of three consumers in the study say
they are interested in getting good deals and save money
using special offers or coupons on their mobile.
favorable conditions
for m-commerce
74%
Sources: World Bank Global Financial Inclusion Database, 2012 and Ericsson ConsumerLab, Analytical Platform, 2012
*Source: Source: Pyramid Telecom Insider Nov 2012
Figure 4: Low Financial Inclusion, High Mobile Penetration
6 ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA
145%
134%
152%
106%
87%
24%
15%
25%
20% 20%22%
29%
23%
10% 13%
33%
56%
42%
30% 27%
160
140
120
100
80
60
40
20
0
Argentina Brazil Chile Colombia Mexico
66% 42% 44%
Mobile
banking
Mobile
wallet
Mobile
shopping
Source: Ericsson ConsumerLab, Analytical Platform, 2012
Base: Non-users of M-commerce
(Argentina, Brazil, Chile, Colombia, Mexico)
Have/Use Bank Product
Mobile Penetration
Smartphone Penetration
Have/Use Credit Card
who are not using m-commerce today are interested in
starting to use at least one m-commerce service on their
mobile phone.

7. Strugglers
and achievers
Two Key Segments for M-commerce
Six out of ten in Latin America are unbanked, either because
they do not have the possibility to open an account or sim-
ply don’t have any interest in affiliating themselves with a fi-
nancial institution. Their income is received in cash or check,
sometimes on a day to day basis, and can also fluctuate in
the course of a year. For this consumer group, referred to as
‘strugglers’ in this report, cash is the only means of pay-
ment, since they rarely have access to or interest in other
financial services. Cash is considered a transparent and
easy means of payment, and a way to control one’s
spending.
Four out of ten have access to bank products, such as sav-
ings accounts, debit and credit cards, even though far from
all fully take advantage of these services. These consumers
constitute another important segment for m-commerce that
is expanding continously in the region: ‘achievers’. They are
often formal workers, receiving a fixed salary on a monthly
basis, deposited into an account. Credit cards and paying
in installments are common among achievers, who often are
middle or high income earners, and have a higher education
level than strugglers. They have the economic margins allow-
ing for leisure consumption to a higher degree, and embrace
new technology they can benefit from in their daily lives.
Both Segments can Benefit from M-commerce
Mobile penetration is high among both consumer groups,
making them potential users of m-commerce services. De-
pending on specific needs, key barriers and drivers differ to
some extent between the groups.
One concrete example of an m-commerce service that
would be appreciated by achievers is mobile payments,
while strugglers would find mobile remittances convenient
and easy.
Source: Ericsson ConsumerLab, M-Commerce in Latin America, 2013Figure 5: Two different segments for m-commerce
Two Segments for M-commerce
ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA 7
> Low income, sometimes fluctuating
> Informal workers, ‘independents’
> Unbanked/underbanked
> Cash is only means of payment
> Occasionally use credit, but don’t like it
> Feature phone or low-end smartphone
> Low awareness and use of new technology
> Higher income, monthly salary
> Formal workers, self-employed
> Banked/financially included
> Prefer cards over cash
> Frequently use credit, and like it
> High-end smartphone
> Embrace new technology
STRUGGLERS ACHIEVERS
Acknowledging the economic development of the region also means acknowledging the different conditions
under which consumers live and work. On one hand there is the rising middle class, already in or rapidly
moving towards financial inclusion, and on the other hand there are the majority of not yet financially
included consumers.

8. SAFETY AND
CONVENIENCE:
KEY DRIVERS
The main driver for m-commerce is convenience, primarily manifested in not having to stand in time-consuming
lines and being able to spend, send and receive money from any location, any time of the day or night.
Safety Important for Consumers
Among strugglers, the main advantage of m-commerce is
the possibility of avoiding handling large amounts of cash,
for example when paying household bills at remote loca-
tions. Achievers have a similar viewpoint, perceiving m-
commerce as a way of getting rid of the necessity to carry
cash or even plastic cards in public. One Brazilian consumer
interviewed in the study expresses it as: “Nowadays anyone
can steal your card, and your password. But with the mobile
phone a criminal will not know that you have money in there.”
Less Waiting Is a Major Advantage
Waiting in line is a major hassle in all markets. Many hours
are spent at banks, ATMs and locations where consumers
are paying their bills, taking up valuable time from their lives
on a regular basis. Spending time in queues to pay bills also
generates a sense of insecurity, as consumers then need to
carry large sums of cash in a crowd of people.
The desire to avoid queues is especially apparent among
strugglers, who almost exclusively use cash to manage their
economy.
M-commerce Allows Flexibility
On the other hand, achievers appreciate the possibility to
handle their economy anywhere at any time of the day or
night. To be able to carry out payments while travelling, com-
muting or from the comfort of one’s home, and pay bills with
short due dates after banking hours are a couple of concrete
and significant upsides of m-commerce. In many areas in
Latin America, bank offices are rather scarce, whereas
mobile operator agents are more common.
Providing Control
Another aspect of m-commerce is that it can provide a
sense of control, something that is of great importance to
Latin American consumers. Keeping track of transactions,
past and future bill payments and purchases is common
in Latin America, and many keep detailed budgets as well
as records of expenses. The mobile phone can act as a
facilitator in this regard, by letting users save verifications
and receipts in a digital format, receive notifications when
transactions are being made, facilitating bill payments on
time and acting as a budgeting tool.
Education, Trust and Transparency
However, to fully tend to the strong consumer need of being
in control when using m-commerce services, it’s important
that transactions are transparent to make consumers feel
absolutely reassured. One example of this could be instant
verifications when money is withdrawn, inserted or in other
ways transferred.
Another key prerequisite that needs to be fulfilled is trust,
both in the provider and in the service itself. Consumer faith
in service providers to supply reliable and secure Internet
connections is low.
Most importantly, Latin American consumers need to be
educated on the possibilities of m-commerce, since the
general knowledge of m-commerce services still is very low
in the region, especially among strugglers.
“I value time in my life, not wasting time doing things. Anything that makes me save time
is very valuable for me. I quit paying my bills in cash and passed them to debit because I
don’t want queues in my life.”
— Male, 26, Argentina
Safety
No queuing
Mobility
Independence
Control
Independence
No queuing
Safety
Mobility
Control
Figure 8: Drivers for m-commerce
STRUGGLERS ACHIEVERS
Source: Ericsson ConsumerLab, M-Commerce in Latin America, 2013
Drivers for M-commerce
8 ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA

9. SCEPTICISM AND
KNOWLEDGE BARRIERS
Current adoption of m-commerce services is low in Latin America. The main barriers are lack of trust in the ser-
vice, lack of network quality and a general lack of knowledge about m-commerce services among consumers.
Lack of Security and Network Reliability
are Major Concerns
Network reliability is the most important barrier among
achievers, and it’s also crucial for strugglers. Current
poor coverage and network stability in all markets are key
concerns that impact how consumers regard m-commerce
services. The perception that m-commerce transactions can
be interrupted or disturbed by unreliable Internet connec-
tion is a common fear which makes consumers reluctant to
adopt m-commerce services.
Other barriers connected to security concerns are fear of
losing one’s mobile phone and fear of someone hacking
one’s account. Consumers are worried they will not be able
to get their money back in case of a crime, a concern that is
tightly connected to a current lack of reliable and easy-to-
reach customer support.
Lack of Knowledge Spurs Concern
The general knowledge of m-commerce and its possibilities
is low in Latin America, especially among strugglers, leading
to misconceptions and distrust and slowing m-commerce
adoption.
Another important barrier for strugglers is having to pay
service fees. As cash is free to use, consumers are naturally
hesitant towards paying for a payment solution, especially
since they are not aware of the benefits m-commerce
brings.
“At the beginning I felt unsafe and I did
not use m-banking, but then I asked the
people that already used it if it was safe.
They reassured me and I started to use
these services.”
— Male, 24, Brazil
Lack of knowledge
High service fees
Poor security
Unreliable network
Absence of transparency
Inaccessibility
Unreliable network
Lack of transparency
Poor user interface
Absence of security
Inaccessibility
Figure 7: Barriers for m-commerce Source: Ericsson ConsumerLab, M-Commerce in Latin America, 2013
Barriers for M-commerce
ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA 9
STRUGGLERS ACHIEVERS

10. THE CULTURAL
LEGACY OF DISTRUST
Distrust of Institutions Common
Among Latin American consumers, distrust of institutions is
widespread, even though few have any first-hand experience
to base this feeling upon. The skepticism towards institutions
revolves around three common perceptions.
> Institutions are historically regarded as part of the estab-
lishment, primarily serving the interests of those in power
and the wealthy.
> Repeated news of official misconduct and corrup-
tion fuels the common belief that institutions are not to
be trusted.
> The level of service and customer friendliness of institu-
tions is considered low. This is also true when it comes to
mobile operators.
Beyond perceived poor or non-existent customer support,
the main reason for consumers’ distrust of operators is the
notion of unreliable network quality and poor performance.
Consumers are also sensitive to high or hidden fees.
Banks Most Trusted Provider of M-commerce
In regard to banks, consumers’ relationship is usually quite
instrumental and hence loyalty tends to be low. It is not
unusual for banked consumers to have accounts with multi-
ple banks. The lack of interoperability between banks is also
considered a problem in some markets.
However, consumers tend to view banks as the preferred
provider of m-commerce services. Security is important
among Latin Americans, and since keeping money safe is
banks’ core business, consumers perceive them as more
trustworthy than other players in this regard.
Another aspect of making consumers feel safer is the
adoption of regulations that safeguard consumer rights
and security.
“If there was an unexpected expense, I
would ask someone in my family for money.
Even if it was a big amount, I would still
ask someone I know. Rather than going
to a bank.”
— Female, 39, Chile
Figure 6: Preferred M-commerce Provider
10 ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA
A bank
A mobile network provider/carrier
A large retail store
A bank credit card provider
A mobile handset brand
Source: Ericsson ConsumerLab, Analytical Platform, 2012
Base: User or interested in mobile wallet (Argentina, Brazil, Chile, Colombia, Mexico)
Mexico 51%
14%
9%
12%
14%
Colombia 63%
9%
5%
6%
17%
Chile 56%
15%
11%
6%
11%
Argentina 43%14%
9%
26%
7%
Brazil 50%
14%
7%
21%
8%

11. For m-commerce to gain ground in Latin America, consumer needs on all levels have to be addressed
- by getting necessary regulation in place and adjusting basic prerequisites to the mode of communication.
Methodology
The data in this report comes from qualitative,
in-depth interviews as well as expert interviews
and quantitative data.
Unlocking future
potential
One important prerequisite for m-commerce is building trust:
both institutional trust on a broad level and trust in mobile
operators in particular. Lack of network quality, speed and
coverage as well as perceived poor customer support have
had a negative effect on the confidence in mobile operators.
Government regulations to protect the consumer is also im-
perative to gain trust by making m-commerce more secure.
The overall lack of consumer confidence suggests that stra-
tegic alliances between different types of players might be
necessary. Successfully launching m-commerce on a broad
scale would most likely require cooperation rather than com-
peting alternatives which could fuel consumer doubt. While
banks are the most trusted institution to handle money,
mobile operators are trusted as a facilitating intermediary,
since they are the link between the mobile device and the
network. Retailers can in turn provide convenient access to
customers in store.
M-commerce services need to be developed based on key
drivers for the two segments; control, safety and conveni-
ence. For strugglers, basic mobile banking solutions would
provide safety and control, while mobile payments would
be convenient for achievers, who appreciate not having to
handle cash at all.
When communicating around m-commerce services,
education and validation from independent and trusted
parties are key factors, since knowledge of m-commerce
and its advantages is scarce in Latin America.
Figure 9: Pyramid of Consumer Needs
ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA 11
Source: Ericsson ConsumerLab, M-Commerce in Latin America, 2013
Ericsson ConsumerLab,
M-Commerce in Latin America, 2013
50 in-depth consumer interviews in São Paulo,
Bogota, Buenos Aires, Santiago and Mexico
City, including consumer diaries
25 of the interviews were conducted in
repondents’ homes and followed by shop-alongs
30 expert interviews with leading professionals from
the m-commerce ecosystem in Latin America
January - April 2013
Argentina, Brazil, Chile, Colombia, Mexico
> 4,080 online interviews, age 16-60
May 2012
Ericsson ConsumerLab, Analytical Platform, 2012
Features
Services
Trust
Context
Consumers require transparency, traceability and ease of use in
order to adopt fully.
Consumers need services based on the key drivers for the segments:
control, safety and convenience.
Education and validation from independent and trusted parties
are key factors.
Regulations to protect the consumer need to be in place.

12. The content of this document is subject to revision without
notice due to continued progress in methodology, design and
manufacturing. Ericsson shall have no liability for any error or
damage of any kind resulting from the use of this document.
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