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Wednesday, May 22, 2013 — South Asia

Vodafone Aims to Replicate M-Pesa’s Success in India

Source: Knowledge@Wharton Network
M-Pesa, the mobile-based money transfer and payment service that has been highly successful in Kenya since its launch in 2007, is now available in India by Vodafone, working through its fully-owned subsidiary Mobile Commerce Solutions Ltd (MCSL), and ICICI bank, the country’s largest private sector bank.
TAGS:banking, financial inclusion, mobile banking, technology
Thursday, January 24, 2013 — Sub-Saharan Africa

Kenyans Prioritizing Mobile Phone Over Food, Transport

Source: Voice of America
NAIROBI — A recent study commissioned by the World Bank suggests that increasing numbers of Kenyans in the poorest socioeconomic group are foregoing food and transport or opting for cheaper alternatives, to buy credit to use mobile phones. Mobile phones were once considered luxury goods in Kenya. But with decreasing prices, people of all socioeconomic levels have come to rely upon them for both personal and professional needs.
TAGS:mobile banking, mobile phones
Friday, December 14, 2012 — South Asia

Will Saral Money reduce corruption?

Source: ZDNet
India's ruling government is making cash transfers an important pillar in its 2014 election strategy, and while others might call it bribery, citizens shouldn't complain if such initiatives help reduce corruption.
TAGS:corporate engagement, financial inclusion, mobile banking
Friday, December 14, 2012 — No Region Specified

Mobile Technology a Game Changer in Developing World

Source: CIO
As much disruption and upheaval as the Internet age has brought to far-flung industries like education, energy and finance, the emergence of mobile computing has a much greater potential for change on a global scale, a group of experts said on Thursday.
TAGS:Base of the Pyramid, mobile banking, technology
Friday, November 30, 2012 — No Region Specified

MICROCAPITAL BRIEF: MasterCard Foundation, CGAP Announce $11.4m Partnership for Branchless Banking, Client Research

Source: Microcapital.org
The MasterCard Foundation, a Canada-based nongovernmental organization (NGO) supporting microfinance and education, and CGAP (Consultative Group to Assist the Poor), a US-based nonprofit policy and research center, recently announced a USD 11.4 million partnership to develop low-cost financial products to assist people living in poverty.
TAGS:corporate engagement, investment fund, Microfinance, mobile banking
Tuesday, November 27, 2012 — Sub-Saharan Africa

M-Shwari platform set to shake up small loans market

Source: Business Daily Africa
Safaricom subscribers can now operate mobile-based savings accounts, earn interest on their deposits and borrow small loans in a move set to raise competition against banks, saccos and shylocks.
TAGS:corporate engagement, Microfinance, mobile banking
Friday, October 19, 2012 — Sub-Saharan Africa

Poor Infrastructure may hinder gains of mobile money market

Source: Business Day
Nigeria's mobile money market is worth $7.2 billion according to Accenture, however the prevalence of poor infrastructure is hindering its takeoff.
TAGS:mobile banking, scale
Wednesday, October 10, 2012 — Sub-Saharan Africa

Samsung, KWFT pact to boost mobile banking

Source: Capital FM
NAIROBI, Kenya, Oct 10 – Samsung has partnered with local microfinance solutions provider, Kenya Women Finance Trust – Deposit Taking Microfinance (KWFT-DTM) to promote the uptake of mobile technology solutions among women.
TAGS:corporate engagement, Microfinance, mobile banking
Thursday, October 04, 2012 — Latin America

Accion Invests $3 Million in Mobile Services Provider Tiaxa

Source: Press Release
Accion announced today that its Frontier Investments Group has invested US$3 million in Zonamovil Inc. (“Tiaxa”), a Chilean provider of managed services for the wireless telecom market. For more than 10 years, Tiaxa has provided mobile network operators globally with billing and rating services for prepaid mobile phone users, as well as innovative financial and business intelligence services that increase operator revenues and improve user satisfaction and loyalty.
TAGS:impact investing, Microfinance, mobile banking
Tuesday, August 21, 2012 — Asia Pacific

Rural banks partner with telcos to boost microfinance

Source: The Manila Times
Rural banks will soon have their own set of “killer apps” to better compete with bigger banks and, more importantly, expand their microfinance services in the Philippines.
TAGS:financial inclusion, Microfinance, mobile applications, mobile banking
Wednesday, August 01, 2012 — Latin America

Digital Money, Mobile Wallets and Latin America

Source: Huffington Post
A recent wave of global and regional announcements regarding mobile wallets and payment systems has casual and close followers alike asking some the same questions.
TAGS:Base of the Pyramid, mobile banking
Monday, July 30, 2012 — Latin America

DBJ pilots mobile solution to microfinancing

Source: The Jamaica Gleaner
In a bid to reduce loan costs for small-scale commercial borrowers, the Development Bank of Jamaica (DBJ) is piloting a mobile money product that was given the green light by the Bank of Jamaica mid-year.
TAGS:Microfinance, mobile banking, mobile phones
Tuesday, July 03, 2012 — Sub-Saharan Africa

Acumen Fund Invests in Paga to Scale Money Transfer Service across Nigeria

Source: Acumen Fund Blog
Lagos - Paga, Nigeria’s leading money transfer service launched in February 2011, today announced it has secured new investments from Adlevo Capital, Omidyar Network, Acumen Fund, Capricorn Investment Group, and current investors Goodwell West Africa Microfinance Development Company.
TAGS:mobile banking
Thursday, June 14, 2012 — No Region Specified

USAID and Citi partnering to bring mobile money to world's unbanked

Source: Mobile Payments Today
The U.S. Agency for International Development, tasked with the administration and distribution of international aid from the U.S. government, announced it is forming a new partnership with Citi. The partnership is aimed at providing financial inclusion for the world's un- and underbanked by encouraging "mobile money" technology in developing countries. It was announced at the USAID Frontiers in Development forum held at Georgetown University.
TAGS:mobile banking, multinational corporation
Tuesday, May 15, 2012 — Sub-Saharan Africa

Can mobile banking boost financial inclusion in Nigeria?

Source: How We Made It in Africa
In Nigeria, Africa’s most populous country with around 167 million people, mobile banking has been relatively slow to take off. This is, however, changing. Last year the Central Bank of Nigeria (CBN) issued the first operating licences to 11 companies to provide mobile banking services.
TAGS:mobile banking
Tuesday, May 15, 2012 — South Asia

Genpact to buy VentureEast-backed Atyati Technologies

Source: VCCircle
Business processing outsourcing major Genpact Ltd has signed a definitive agreement to acquire Atyati Technologies, a technology platform provider for the rural banking sector in India. The terms of the transaction, including the stake acquired and the deal value, remain undisclosed. The deal is expected to close in 3-4 weeks.
TAGS:mobile banking, rural development, technology
Friday, May 11, 2012 — Sub-Saharan Africa

The bank of SMS

Source: The Economist
AFRICA is the continent where “mobile money”—monetary transactions on mobile phones—is by far the most advanced. According to a new survey of financial habits by the Gates Foundation, the World Bank and Gallup, in 20 countries more than 10% of adults said that they had used mobile money at some point in the previous 12 months; 15 of those countries were in Africa.
TAGS:mobile banking
Tuesday, March 20, 2012 — Latin America

Tigo Helps Remittances Go Mobile

Source: Fast Company
In countries like Guatemala, remittances from migrant workers in the U.S. are critical to the economy. Tigo, an international telecom, has a unique plan to use mobile banking to simplify a trying process.
TAGS:Base of the Pyramid, financial inclusion, mobile banking
Wednesday, February 29, 2012 — Sub-Saharan Africa

Omidyar Network and ACCION Invest US $3.2 Million in Mobile Transactions International

Source: PR Newswire
Omidyar Network and ACCION International announced today that they have invested US $3.2 million in Mobile Transactions International, a Zambia-based company that leverages mobile technology and an agent network to enable financial transactions across the Zambian economy. The $4 million investment round also includes $500,000 in converted debt funding from Mennonite Economic Development Associates.
TAGS:investment fund, mobile banking

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