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Innovation Prize for Africa recognizes Lakheni
A South African initiative that uses group buying power to lower food prices for needy communities, using a mobile app, has been nominated for the continental prize.
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- Technology
- Region
- Sub-Saharan Africa
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India’s most popular mobile wallet company is pushing to disrupt financial services with a new money market fund
Paytm recently became the second nonbank to leverage India's payment bank initiative, which works to give more consumers access to mainstream financial services. As part of the initiative, Paytm will be able to accept deposits, issue debit cards, and facilitate online transactions, but it won't be able to lend money to consumers.
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- Technology
- Region
- South Asia
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Three Reasons Financial Health Matters – And Not Just for the Underserved
Forty-three percent of Americans struggle to pay bills and make credit payments, while 23 percent of workers making $50,000 to $99,999 a year are living paycheck-to-paycheck, and underserved Americans spend $141 billion in fees and interest to meet their financial needs. That's why, as the Center for Financial Services Innovation puts it, "Financial health matters to all of us." Today (June 27) CFSI and other mission-based organizations are celebrating #FinHealthMatters Day, to highlight what we all can do to improve financial health.
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- Technology
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On Bitcoin, India’s Government And Tech Companies Find Common Ground
Clearly, despite some initial reservations, the Indian government is keen on understanding how Bitcoin works and is willing to deploy resources to build frameworks.
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- Technology
- Region
- South Asia
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Nigerian Tech Startup Tizeti Secures $2.1M To Bring Affordable Wireless Internet To Africa
Unlike other telcos, who many think have a monopoly on internet data services in the country, Tizeti can keep costs low for its consumer-facing brand, wifi.com.ng, because it is investing heavily in building out its own solar-panelled network of towers across Lagos, as well as a network of over 3,000 public hotspots across the city.
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- Technology
- Region
- Sub-Saharan Africa
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Mobile Podcasts: A Cost-Effective Way to Boost Financial Literacy in India
As a reader of this blog, you likely find it easy to read and understand instructions about basic banking processes, and breeze through simple transactions like ATM withdrawals. But what about those who lack literacy skills, or who are just getting introduced to the world of finance? Mobile phone podcasts, particularly those delivered to targeted audiences in their language, can be a solution. With the potential to reach more than 1 billion mobile subscribers in India, mobile phone podcasts could bring financial literacy to underserved communities.
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- Technology
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Hike beats WhatsApp to launching messenger app payments in India
Hike, which is introducing version 5.0 today, is starting out with peer-to-peer and bank-to-bank payment options, the former being an in-app wallet that is not dependent on a bank account and the latter a service powered by India’s government-backed UPI payment system. Beyond sending cash to each other, Hike has also introduce a ‘blue packet’ feature that lets users gift digital envelopes of cash for special occasions, such as birthdays.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments, fintech
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U.N. glimpses into blockchain future with eye scan payments for refugees
Iris recognition devices at the checkouts of the camp's supermarket authenticate customers' identities and deduct what they spend from sums they receive as aid from the World Food Program (WFP).
- Categories
- Technology
- Region
- North Africa & Near East
- Tags
- refugees