NewsFeedNewsFeed

Our Staff Writers and Editors offer insights on the latest news, events, interviews and other happenings from the development through enterprise and base of the pyramid universes
Friday, December 19, 2014 — South Asia

Triotech Raises $3 Million From Singapore VC Firm Bluehill

Source: The Economic Times

Mobile payment services company Triotech Solutions has raised $3 million (nearly Rs 19 crore) from Singaporebased venture-capital firm Bluehill in its first round of funding.
Thursday, December 18, 2014 — South Asia

Is India approaching a perfect storm in digital financial services?

Source: Live Mint

In the use of digital technologies, financial services in India lag behind other sectors. But a perfect storm may soon come and enable technology-led disruption at a far greater scale.
Thursday, December 18, 2014 — Sub-Saharan Africa

Will Africa’s Mobile Money Revolution Take Hold?

Source: AFKInsider

When mobile network operator (MNO) Safaricom launched its M-Pesa mobile payments system in Kenya seven years ago, few business models were as ripe to explode. With extremely high mobile penetration rates, a high proportion of unbanked households, a regulatory system that allowed telecoms companies rather than banks to lead the way, and a migrant population suffering from expensive domestic remittances, it is little wonder that more than two-thirds of Kenyan adults use the service today.
Wednesday, December 17, 2014 — South Asia

State Bank of India to Provide Mobile Financial Services to Underserved

Source: Mobile Payments Today

Amdocs, a provider of customer experience products, today announced the selection of its mobile financial services product in association with Triotech's product, which will enable State Bank of India to offer mobile financial services to India's unbanked and underbanked population, using the mobile network of Bharat Sanchar Nigam Limited. The solution will be delivered under a five-year services contract, according to a press release.
Friday, December 12, 2014 — Sub-Saharan Africa

Vodacom has big M-Pesa plans in South Africa

Source: IT Web

Vodacom aims to push the envelope with its revamped M-Pesa in 2015, a year in which it hopes it will emerge as the most disruptive player in the local mobile money space.
Friday, December 12, 2014 — Sub-Saharan Africa

E-Kwanza Mobile Payment Service Launched in Angola

Source: HumanIPO

Angolan Investment Bank (BAI) has launched e-Kwanza a mobile money service that allows users to make transfers and payments for goods and services across the country.
Tuesday, December 9, 2014 — South Asia

What Happens to Money in E-Wallets in India?

Source: Live Mint

Electronic and in-app wallets have emerged as another payment option. Many companies, especially those in e-commerce and telecom services, offer wallets where consumers can preload money and use to pay for services. Here’s a look at the treatment of money stored in various kinds of wallets.
Friday, December 5, 2014 — No Region Specified

Timor Leste’s First Mobile Money Pilot Launched to Expand Access to Financial Services

Source: National Journal

BNU, in partnership with Timor Telecom, and with support from the Inclusive Finance for the Under-Served Economy (INFUSE) Programme and MicroSave, launched Timor-Leste's first mobile wallet product called BNU Mobile.
Thursday, December 4, 2014 — No Region Specified

PRESS RELEASE: Citi Announces Top Innovations from Global Financial Technology Challenge

Source: BWW Geeks World

Today Citi announced the top innovations from the Citi Mobile Challenge U.S., a groundbreaking global initiative that invites technology developers to reimagine digital banking and fuel innovation in the financial industry.
Thursday, December 4, 2014 — Sub-Saharan Africa

United Bank of Africa, Airtel to Launch Mobile Financial Services Across Africa

Source: Ghana Web

United Bank for Africa (UBA) is partnering with telecoms firm, Bharti Airtel to provide mobile-based financial services across Africa through Airtel Money.
Thursday, December 4, 2014 — Asia Pacific

Firms, Aid Groups Help Filipinos Borrow From Banks Instead of Sharks

Source: Reuters

Housewife Jenny Orquiza, whose home was damaged by super typhoon Haiyan, did not imagine that the Philippines' biggest natural disaster would lead to her getting something she never had - a bank account.
Wednesday, December 3, 2014 — Sub-Saharan Africa

In Nigeria Mobile Banking Transactions Hit N430 Billion

Source: allAfrica

Mobile payments system, also known as mobile banking in the country has recorded a total of 15 million transactions since the inception of the scheme in 2012 with 58 million subscribers while the total value of the transactions till date is N430 billion.
Tuesday, December 2, 2014 — Sub-Saharan Africa

MTN Launches Mobile Money Cross-Border Remittance Service Between Ivory Coast and Benin

Source: HumanIPO

Telecoms company MTN today launched mobile money cross-border remittance service between Ivory Coast and Benin. It said the service will further enable cheaper and easy movement of money in the West Africa region.
Monday, December 1, 2014 — South Asia

Reserve Bank of India Prohibits Airtel, Vodafone & Idea From Using Existing Channels for Payments Banks Business

Source: The Economic Times

The Reserve Bank of India's final rules on payments banks prohibit telecom operators from leveraging their nationwide retailer networks and channels if they enter the new business, but analysts say this is a good opportunity for mobile phone companies to add another revenue stream given their existing consumer connect.
Monday, December 1, 2014 — No Region Specified

Vodacom Looking to Expand Use of M-pesa

Source: Business Day

Vodacom is in talks with small and big companies with the aim of getting them to use its mobile payment platform, m-pesa, to pay salaries to employees and allow customers to pay for goods using the system.
Wednesday, November 26, 2014 — Sub-Saharan Africa

Kenya: Equity's SIM Technology to Go Live By March - James Mwangi

Source: allAfrica

EQUITY Bank plans to officially launch its mobile money platform Equitel - the trading brand of its telecoms subsidiary Finserve Africa - next quarter, chief executive James Mwangi said yesterday.
Tuesday, November 25, 2014 — No Region Specified

Bank On Poor Women And Phones To Drive Growth In Africa, Experts Say

Source: Thomson Reuters Foundation

Mobile phone technology can help to bring financial services to the 80 percent of African women who do not have a bank account and bolster the growth of the world's poorest continent, Nigeria's finance minister, Ngozi Okonjo-Iweala, said on Monday.
Tuesday, November 25, 2014 — South Asia

Indian M-Wallet Market To Cross Rs 1,200 Crore By 2019: Study

Source: The Times of India

The infant mobile wallet market in India is estimated to grow over threefold to Rs 1,210 crore in the next five years, buoyed by rising smartphone users and entry of newer players into the sector.
Monday, November 24, 2014 — South Asia

Mobile Banking Will Soon Be Possible in India With a Basic Handset and Without Accessing the Internet

Source: The Economic Times

Banking will have a new look with some of the jigsaw pieces slowly falling into place. Almost all dealings between a customer and her bank will be possible with a basic handset and without accessing the Internet.
Tuesday, November 11, 2014 — No Region Specified

Why mobile money is so tough to crack in South Africa

Source: TechCentral

Mobile Money is proving to be a tough nut to crack. Here is why.
Tuesday, November 11, 2014 — No Region Specified

Q&A: West African Bitcoin Transfer Firm Joins Fight Against Ebola

Source: AFKInsider

Bitcoin, a “decentralized virtual currency” according to the U.S. Treasury, is the first cryptocurrency to be rolled out in its entirety. In addition — when considering market value — Bitcoin is largest cryptocurrency.
Tuesday, November 11, 2014 — No Region Specified

96% of mobile payment agents in Bangladesh are profitable, says MicroSave study

Source: The Daily Star

Ninety-six percent of mobile payment agents in Bangladesh are making profits, thanks to low operational costs, a testament to how popular the service has become in just a few years, according to a study.
Friday, November 7, 2014 — Sub-Saharan Africa

Econet Wireless partners with Western Union in Zimbabwe

Source: New Zimbabwe

ZIMBABWE’S largest mobile telecoms company by earnings and subscribers Econet Wireless and Western Union Company, a leader in global payment services, have teamed up to offer consumers fast and reliable international money transfers.
Friday, November 7, 2014 — Latin America

WorldRemit expands mobile money transfer services to Latin America

Source: Mobile Payments Today

WorldRemit, an online and mobile money transfer company, has announced a partnership with Bancomer Transfer Services Inc. to offer money transfers to Latin America.
Thursday, November 6, 2014 — South Asia

Can M-Pesa Succeed in India?

Source: Business Today

This case study looks at how M-Pesa, a service that originated in Kenya, was tweaked for India and whether it can succeed.
Thursday, November 6, 2014 — No Region Specified

PRESS RELEASE: GSMA Introduces Code of Conduct for Mobile Money Providers

Source: Business Wire

The GSMA today launched a Code of Conduct for Mobile Money Providers, outlining a series of common business principles to enable the development of safe and responsible digital financial services.
Wednesday, November 5, 2014 — Sub-Saharan Africa

Safaricom of Kenya Braces for Competition on Key Cash Earner

Source: Business Week

Safaricom Ltd., East Africa’s biggest cellular-network operator, is bracing for competition in its key mobile-money business that helped boost first-half profit by 30 percent, CEO Bob Collymore said.
Tuesday, November 4, 2014 — South Asia

Indian start-up to enable bank transactions via kirana stores

Source: Business Standard

Novopay uses Aadhaar biometric scanner for dealings
Monday, November 3, 2014 — Sub-Saharan Africa

Equity says 200,000 have signed up for its mobile money platform in Kenya

Source: The Star

EQUITY Bank yesterday said it has “quietly” registered over 200,000 customers on its mobile money transfer platform, Equitel, in the ongoing rollout.
Thursday, October 30, 2014 — Sub-Saharan Africa

Rwanda joins Better Than Cash Alliance as part of bid to achieve 80% financial inclusion by 2017

Source: FinExtra

Rwanda has joined the Better Than Cash Alliance to help accelerate the adoption of electronic payments in the country as part of a commitment to achieve 80% financial inclusion by 2017.
Tuesday, October 28, 2014 — Sub-Saharan Africa

Dusty Tanzania Market Shows Next Step in Mobile Banking

Source: Bloomberg

Like millions of Africans, Sebastian Adam uses M-Pesa, a service that lets him pay bills with his mobile phone. With his wife pregnant, Adam decided it was time to start saving -- and to earn interest on the money he saves -- so he switched to a newer offering called M-Pawa.
Monday, October 27, 2014 — Sub-Saharan Africa

Airtel, Kenya Revenue Authority partnership enables subscribers to pay taxes via mobiles

Source: The Daily Nation

Airtel subscribers can now pay their taxes through their mobile money platform following a partnership with the Kenya Revenue Authority (KRA), which will also see the telco grow its revenues.
Monday, October 27, 2014 — Sub-Saharan Africa

Zimbabwe's OneWallet posts massive loss as EcoCash thrives

Source: The Independent

Government-ownded mobile phone operator NetOne generated a paltry US$1 194 in revenue from its mobile money transfer platform OneWallet for the year-ending December 31 2012 after investing close to a quarter of a million dollars in the product.
Friday, October 24, 2014 — Sub-Saharan Africa

PRESS RELEASE: Mobile Money for the Poor Expanded to Enable Millions in Africa to Access Financial Services

Source: UNCDF

UNCDF, the UN’s capital investment agency for the world’s 48 Least Developed Countries (LDCs),has partnered with The MasterCard Foundation to expand a flagship program that will enable three million low-income clients in Africa to access mobile financial services for the first time.
Friday, October 24, 2014 — Asia Pacific

Regional Development Banks and Sharia Banks Can Go Mobile, says Indonesia's Financial Services Authority

Source: Jakarta Post

As part of efforts to open up greater public access to financial services, the Financial Services Authority (OJK) will regulate the implementation of branchless banking, especially for regional development banks (BPD) and sharia banks, a top official says.
Wednesday, October 22, 2014 — Sub-Saharan Africa

OPINION: Cash still king in Africa, despite mobile money rise

Source: IT Web Africa

Over 25 million Kenyans use mobile money services but one expert says “cash is still king” in most of the continent.
Wednesday, October 22, 2014 — Latin America

Ecuador backs national mobile wallet

Source: Mobile World Live

In an unusual move, Ecuador is reportedly building its own mobile wallet to boost financial inclusion, without the involvement of the country’s operators or banks.
Friday, October 17, 2014 — Sub-Saharan Africa

Africa: The Overlooked Hub of Payments Innovation

Source: Payments Source

A number of financial institutions are using emerging technology to deliver payments on the continent.
Wednesday, October 15, 2014 — Sub-Saharan Africa

Data Specialist in Court Bid to Block Equity's SIM Card

Source: 4 Traders

Equity Bank's thin-SIM mobile money transfer system faces more hurdles after a data specialist went to court seeking to block its rollout.
Tuesday, October 14, 2014 — Sub-Saharan Africa

Africa: 10 Reasons Why Mobile Rocks in Africa

Source: allAfrica

Mobile use in Africa is expected to increase 20-fold in the next five years.
Monday, October 6, 2014 — Sub-Saharan Africa

OPINION: Is mobile money the key to Africa’s cashless society?

Source: IT News Africa

As the story of the mobile phone and its contribution in bridging the digital divide in Sub-Saharan Africa unfolds, the device’s revolutionary role in facilitating transactions and wealth distribution in the region is shaping up in an unprecedented way.
Friday, September 26, 2014 — South Asia

Boom time for e-commerce in India; but customers face heightened risk of fraud

Source: Economic Times

As more Indians step up to make online payments, there is a proliferation of payment gateways and mobile wallets, many of which are facing the risk of being misused by unscrupulous merchants.
Monday, September 22, 2014 — Sub-Saharan Africa

OPINION: Safaricom, Equity Bank thin SIM wars a distraction that should not drag on

Source: Standard Digital

Nairobi; Kenya: The dispute pitting Safaricom against Equity Bank over the latter’s plans to offer mobile money transfer services is unnecessary and should not be allowed to drag on.
Friday, September 19, 2014 — No Region Specified

Why the U.S. Lags the World in Mobile Payments

Source: Time

Many American consumers are beyond excited by the prospect of Apple Pay, but overseas the iPhone's latest feature is old news.
Thursday, September 18, 2014 — Sub-Saharan Africa

Safaricom prepares for battle, sets date for new Mpesa network

Source: Standard Digital

The stage is set for deployment of Safaricom’s long-awaited new M-Pesa system, raising stakes in the ongoing battle between the mobile phone service provider and a slew of new entrants in the mobile money transfer business, led by Equity Bank.
Thursday, September 18, 2014 — Sub-Saharan Africa

Free mobile money transactions from Airtel to boost Rwanda's financial inclusion drive

Source: All Africa

The government's efforts geared at ensuring that all Rwandans access financial services have been boosted by Airtel Rwanda, which has scrapped charges on Airtel Money service transactions.
Thursday, September 18, 2014 — Sub-Saharan Africa

Orange Money links up with Bank of Africa for mobile banking

Source: Finextra

Wireless operator Orange has integrated its mobile Money platform with the Bank of Africa, enabling users to perform basic banking transactions with their handsets.
Wednesday, September 17, 2014 — No Region Specified

A Day in the Life of the Unbanked Consumer — And How Mobile Can Help

Source: ReCode

To fully understand the effect that mobile payment technology is having on our world, let’s take a look at a day in the life of individuals who are oceans apart but have one thing in common: No bank account.
Wednesday, September 17, 2014 — No Region Specified

How Telcos, MTOs and Banks Could Crash over Remittances

Source: PYMNTS.com

Hugo Cuevas-Mohr shares insights gleaned from his work with money transfer professionals from all over the world about the remittance market, the role of traditional players, banks and telcos and who has the edge as this $500 billion industry evolves.
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 8, 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

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.
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.
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 9, 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 9, 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 7, 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 9, 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 6, 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 1, 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 1, 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 5, 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 4, 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 1, 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 4, 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 3, 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 4, 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 1, 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 3, 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.
  • Managing Partners

    William Davidson Institute
  • Sponsoring Partner

    Citi Foundation
  • Content Partners

    IADB
Subscribe to Our E-Newsletter

Email:  
For Email Marketing you can trust

Found an Article we're Missing?Found an Article we're Missing?

Submit An Article

TrendingTrending

Social MediaSocial Media

Facebook Twitter

Story Snapshot

CLOSE