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Monday, September 15, 2014 — Sub-Saharan Africa

Kenya MPs to rule on Equity Mobile Virtual Network Operator services

Source: East African Business Week

Equity Bank will have to wait a little longer before rolling out its Mobile Virtual Network Operator services in Kenya.
Monday, September 15, 2014 — Sub-Saharan Africa

Nigeria: Massive Response to Historic Mobile Money Network

Source: All Africa

Hundreds of residents have thronged meetings and training sessions organized for prospective sales agents for the country's first super mobile money network.
Friday, September 12, 2014 — Sub-Saharan Africa

The Rise And Rise Of Mobile Money

Source: Leadership

Mobile Money transactions are gradually taking off in Nigeria after a very slow start due to inability to fully comprehend the scheme, lack of technology by those licensed to operate it and low level of the awareness by the public.
Wednesday, September 10, 2014 — Sub-Saharan Africa

Globacom’s new direction for mobile money development in Nigeria

Source: Business Day Online

Globacom is in a renewed push to scale up mobile money services in Nigeria, through the formation of a new partnership ecosystem, comprising of leading financial services companies, and a robust nationwide agent network.
Monday, September 08, 2014 — Sub-Saharan Africa

Safaricom and Equity take Row over Thin SIM to Parliament

Source: Standard Digital

Kenya’s biggest mobile network operator, Safaricom, and biggest bank in terms of customer base and reach, Equity Bank, appeared before a House committee on their push and pull over Equity’s bid to offer mobile money services.
Friday, August 22, 2014 — Sub-Saharan Africa

Glo launches Nigeria’s 1st Mobile Money Agent Network - Central Bank lauds initiative

Source: Nigerian Tribune

GLOBACOM, Nigeria’s national telecommunications carrier, has launched Glo Xchange, a Mobile Money Agent Network, aimed at accelerating mobile money revolution and financial inclusion in the country.
Wednesday, August 20, 2014 — Sub-Saharan Africa

Safaricom cuts fees on low and medium value M-PESA transfers

Source: Biztech Africa

Leading integrated communications service provider Safaricom has announced a targeted reduction of transaction fees levied by the operator on its most popular person to person M-PESA transaction bands.
Wednesday, August 13, 2014 — Sub-Saharan Africa

African mobile money technology expands in Europe

Source: New Vision

Africans have long used technology developed abroad, but now a Kenyan cash transfer network which bypasses banks is being adopted in Europe.
Thursday, July 31, 2014 — Sub-Saharan Africa

Airtel wins case against Safaricom to open up M-Pesa

Source: HumanIPO

The Communications Authority of Kenya (CAK) has ruled in favour of Airtel after the company accused its rival Safaricom of anti-competitive practice, a move coming weeks after Safaricom had decided to open up the network.
Thursday, July 31, 2014 — Sub-Saharan Africa

M-PESA’s back: Vodacom relaunches mobile money in South Africa

Source: htxt

Vodacom has announced that it is relaunching its M-PESA mobile money payments system today, with a new look design for South Africans.
Wednesday, July 23, 2014 — Latin America

Financial Inclusion in Paraguay: New Mobile Money Regulation

Source: GSMA

The opportunity to increase financial access in Paraguay is massive.
Tuesday, July 15, 2014 — Sub-Saharan Africa

Mobile payments ideal for Africa

Source: ITWeb Africa

In emerging markets, mobile money has the power to transform lives, says Gemalto.
Wednesday, July 09, 2014 — Sub-Saharan Africa

Safaricom finally agrees to open up M-Pesa agent network

Source: ITWeb Africa

Mobile network Safaricom, which runs M-Pesa, has unexpectedly agreed to open up its agency network across the country to its rivals.
Wednesday, July 09, 2014 — South Asia

Mobile Banking Rises Across the Globe

Source: eWEEK

Emerging countries such as China, India and Bangladesh witnessed significant growth in the past 12 months, the Juniper study found.
Monday, July 07, 2014 — Sub-Saharan Africa

Kenya's mobile innovation brings digital money closer

Source: BBC News

Kenyan financial services heavyweight Equity Bank is planning to roll out mobile banking services in July, using innovative paper-thin SIM technology.
Thursday, June 19, 2014 — No Region Specified

Xpress Money Joins Hands with Safaricom to Boost Mobile Remittances in Kenya

Source: Market Watch

Xpress Money, the world's most dependable money transfer brand, today announced its tie up with Safaricom to offer money transfer services on the latter's popular M-PESA platform in Kenya.
Thursday, May 22, 2014 — No Region Specified

OPINON: South Africa’s mobile money success requires telco, bank collaboration

Source: ITWeb Africa

South African cellular companies must collaborate with banking institutions to ensure an increase in the uptake of mobile money services in the country, an Ericsson official has said.
Tuesday, May 20, 2014 — No Region Specified

Vodafone India completes pan-India M-Pesa rollout in Q4-FY14

Source: Media Nama

Vodafone India which operates the mobile payment service M-Pesa through its wholly owned subsidiary Mobile Commerce Solutions Ltd (MCSL), has completed the pan-India rollout of the service in March 2014, about one year since its India launch and about 16 months after the initial announcement.
Friday, May 16, 2014 — Sub-Saharan Africa

Small businesses in Kenya embrace mobile money payments

Source: Coastweek

Small business operators in Kenya have for many years resisted mobile money payments as they preferred cash transactions.
Tuesday, May 13, 2014 — No Region Specified

CWC Launches Panama’s First Mobile Money Service

Source: Developing Telecoms

Cable & Wireless Panama (CWP) has launched MovilCash, Panama’s first mobile money service.
Monday, May 12, 2014 — No Region Specified

How Non-Profits Are Cashing In on the Cryptocurrency Boom

Source: Motherboard

Bitcoin is often discussed as the backbone of the online drug trade, an interesting speculative investment, or simply a futuristic way to order pizza. But proponents say the cryptocurrency also has great potential for the nonprofit world.
Friday, May 09, 2014 — No Region Specified

M-Pesa gets faster payments upgrade

Source: Finextra

Kenyan telco Safaricom has upgraded its M-Pesa mobile money service to implement near-instantaneous transactions.
Tuesday, May 06, 2014 — No Region Specified

Mobile money boosts Econet revenues in Zimbabwe

Source: ITWeb Africa

Econet Wireless, the biggest telecoms firm in Zimbabwe, has 780,000 additional subscribers for the year-end to February, it said on Monday, while revenues have risen 8% to $752.7 million.
Thursday, May 01, 2014 — Sub-Saharan Africa

Uganda’s Bank of Africa Unveils Mobile Banking Platform

Source: Human IPO

Uganda’s Bank of Africa (BOA) has launched a mobile banking platform geared towards earning the bank a larger market share amongst those using mobile money as a way of doing business.
Thursday, May 01, 2014 — No Region Specified

E-banking Central to Uruguay Financial Inclusion Law

Source: BN Americas

Electronic banking services will play a central role in Uruguay's new financial inclusion law, approved by the senate last week, local paper Espectador reported.
Tuesday, April 29, 2014 — Sub-Saharan Africa

Nigeria’s First Commercial Contactless Payment Solution Deployed

Source: Human IPO

Teasy Mobile Money has announced the successful deployment of Nigeria’s first commercial near field communication (NFC) contactless payments solution.
Monday, April 28, 2014 — Sub-Saharan Africa

World Bank to Spend $8 Billion on Nigeria Over Four Years

Source: Bloomberg

The World Bank said it will provide Nigeria with projects worth $8 billion targeting job creation, social services and governance as part of its new country partnership strategy with Africa’s largest economy.
Friday, March 28, 2014 — No Region Specified

Banks Outshine Agriculture, Manufacturing in GDP Input in Rwanda

Source: All Africa

Prime Minister Pierre-Damien Habumuremyi, yesterday, presented to both chambers of Parliament highlights of the performance of the service industry with focus on financial institutions, noting that the country is on course to achieving its targeted financial inclusion.
Wednesday, March 05, 2014 — Asia Pacific

As Myanmar opens up, will mobile money emerge?

Source: Giga Om

It’s an unprecedented moment in Myanmar’s history as the country opens up to financing, technology and connectivity. Will mobile payments play a role in transforming the country?
Wednesday, February 12, 2014 — No Region Specified

M-Pesa, MoneyGram in money transfer service agreement

Source: Human IPO

M-Pesa – through its parent company Vodafone – and global money transfer and payment services firm MoneyGram have signed an agreement enabling consumers to transfer funds directly from around 200 countries to the millions of M-Pesa users.
Tuesday, February 04, 2014 — Sub-Saharan Africa

Kenyan Banks Battle to Go Fully Digital in Race for Cheap Deposits

Source: The Standard Digital

A customer can deposit cheques, open an account, place standing orders, transfer funds, make balance enquiries and pay for utilities without actually going to the banking hall.
Monday, December 16, 2013 — No Region Specified

In the Pacific, banks go branchless to reach the unbanked

Source: Islands Business

Branchless banking, mobile banking, mobile “wallets”, innovations in financial services are seeing thousands of poor and low-income people use their mobile phones to enter the financial system for the first time; to open accounts, get paid, save money and begin to move out of poverty.
Thursday, December 12, 2013 — Sub-Saharan Africa

Uganda: Mobile Money Gives Banks a Run

Source: All Africa

To Richard Mwebaze, the message was loud, clear and a welcome relief from those dreaded bank queues. The head teacher at one of his children's school said parents were now free to pay school fees by mobile money.
Tuesday, November 26, 2013 — Sub-Saharan Africa

Telecoms and Banks lock horns over mobile banking in Zimbabwe

Source: The Africa Report

The bankers association accuse the mobile telephone operators of exploiting a grey area in the Banking Act.
Thursday, November 14, 2013 — Asia Pacific

China’s Alipay mobile wallet app users have almost reached 100 million

Source: Global Times

China's largest e-payment company Alibaba Group Holding Ltd's Alipay Wednesday said that users of its "mobile wallet" app have reached nearly 100 million across the nation so far.
Monday, October 28, 2013 — Asia Pacific

In Indonesia, Mobile banking becomes a source of local banks’ revenue

Source: The Jakarta Post

With the sharp increase in the use of smartphones, mobile banking has become an important source of income for Indonesian banks that are now expanding fee-based services to boost their profits.
Monday, October 21, 2013 — Sub-Saharan Africa

Tanzania: Mobile Money Takes Firm Grip On Tanzanians

Source: allAfrica

Mobile money has taken off in Tanzania over the last few years and about a quarter of the population is now using mobile money services.
Thursday, October 17, 2013 — Sub-Saharan Africa

Mobile money growth accelerates as operators adopt new innovations

Source: BusinessDay

The volume of mobile money transactions processed in Nigeria is gathering momentum after a slow start as operators adopt new innovations. In June, the Central Bank of Nigeria (CBN) reported that licensed operators had processed transactions amounting to N64 billion in the previous 12 months, however 60 percent of the total had taken place in the final three months.
Thursday, October 10, 2013 — South Asia

Strong signals for mobile banking

Source: Financial Express

With 840 million phones potentially competing against less than 85,000 bank branches, there is no doubt over mobile banking’s potential to accelerate financial inclusion.
Tuesday, October 01, 2013 — Sub-Saharan Africa

Telcos’ exclusion slows uptake in Nigerian mobile money business

Source: Business Day

Analysts have identified the exclusion of telecommunications operators from playing critical roles in the implementation of mobile money as a significant drawback to the uptake of the service two years after its launch by the Central Bank of Nigeria (CBN).
Thursday, September 26, 2013 — Sub-Saharan Africa

Financial services access hits 67% on mobile payments

Source: Business Daily Africa

Two thirds of Kenyans are now able to access formal financial services indicating increased deposit mobilisation in the country following success in mobile payment services and increased penetration by commercial banks.
Tuesday, September 24, 2013 — No Region Specified

MasterCard Promotes Financial Inclusion With Electronic Payments

Source: Forbes

While payment cards are often promoted as premium status-driven consumer products in the United States and Europe, in developing countries debit cards are proving valuable for delivering child benefits, pension payments and government salaries.
Tuesday, September 17, 2013 — South Asia

Editorial: E-banking requires better technology support for operation

Source: Financial Express

Mobile banking is gaining ground among the people of the country since the Bangladesh Bank (BB) formulated a guideline nearly two years ago. Mobile banking grew at a faster pace, proving that it is more useful than the formal banking. Transaction through mobile banking service has been increasing at a rate of 20 per cent every month. Some 7.2 million people now make the use of different services under mobile banking services through more than one lakh outlets across the country.
Tuesday, September 17, 2013 — No Region Specified

Digital payments key to financial inclusion, says Gates report

Source: Central Banking

Digital payments systems are key to providing wider access to financial services, but customers in developing countries may have to pay each time they use them in order for the economics to stack up, according to a new report on financial inclusion from the Bill and Melinda Gates Foundation.
Wednesday, September 11, 2013 — Sub-Saharan Africa

Bank? What bank? Orange, Visa and the changing face of Africa's mobile money

Source: ZD Net

While relatively few Africans have a bank account, companies are finding new ways to offer consumers bank-type services just using mobile devices.
Wednesday, September 04, 2013 — Sub-Saharan Africa

Kenya: Are Bitcoins the Future of Mobile Money?

Source: Think Africa Press

The use of the virtual currency Bitcoins could change the way money flows in Kenya. But it hasn't caught on just yet.
Tuesday, September 03, 2013 — Sub-Saharan Africa

Africa will Rule the World in Mobile Money, Expert Predicts

Source: This Day Live

African countries like Nigeria, Kenya, and Tanzania have been predicted to rule the world in mobile money transactions, which include mobile banking and mobile wallet, in the next few years, going by the continent’s population and zeal for technology advancement.
Tuesday, May 28, 2013 — Latin America

How an iPad in a corner store can spell success in Mexico

Source: The Christian Science Monitor

On the outskirts of Mexico City, just past the dusty plateau of a defunct landfill, the cinder block houses of Chimalhuacán crowd a hillside. It’s a city beyond a city, made up of nearly 1 million residents including surrounding areas, yet it lacks many of services and stores one might expect of a city ­– like banks.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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    Citi Foundation
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    IADB
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