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Different Worlds: Why digital payments should not be regulated as an offshoot of banking
Digital payments is emerging as its own field of expertise - and though the two sectors are often lumped together, it differs substantially from banking. For instance, banks prosper greatly from managing risk and little from network effects, while payments providers typically are just the opposite. This leads to fundamentally different outlooks between the practitioners in each field, and necessitates different regulatory approaches.
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Founder of Newly Licensed Payments Bank Paytm Plans to Bring Half a Billion Indian Users to Platform by 2020
Vijay Shekhar Sharma, founder of Paytm, was one of the two individuals, besides nine other entities, to be granted a payments bank licence. He believes that being a payments bank, Paytm can now provide its customers with a three-step life cycle comprising pay, buy and save.
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- South Asia
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Viewpoint: Why Kickstarter and Indiegogo Won’t Go Into Equity Crowdfunding
Now that anyone can now buy shares in a private company through an equity-crowdfunding platform, interested investors are wondering who will operate the online share-buying sites. Some observers have suggested that rewards-based crowdfunding platforms like Kickstarter and Indiegogo will enter the market, taking advantage of their experience in other parts of the crowdfunding marketplace.
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- crowdfunding
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Glo Xchange Rolls Out Super Agent Mobile Money Network in Nigeria
Globacom will from today commercially roll out Glo Xchange super agents’ network that will drive mobile money implementation across Nigeria in partnership with four leading deposit money banks, bringing 80 million unbanked Nigerians into the formal financial sector.
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- Sub-Saharan Africa
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Gates Foundation to Help India’s Payments Banks with Tech, Innovation
The Bill & Melinda Gates Foundation will help newly licensed payment banks in technology sharing and innovation as it expects India to become a global showcase for digital payment systems in the next three to five years, Daniel Radcliffe, senior officer at the financial services for the poor (FSP) programme at the foundation, said in an interview on Friday.
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- South Asia
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World’s Most Sustainable Water Source to Raise $10 Million in California Direct Public Offering
Cutting Edge Capital (CEC), a leading firm helping social ventures and entrepreneurs raise capital, announced today that its client WaterFX Hydro I, Inc., dba HydroRevolution, received regulatory approval for a California limited public securities offering (DPO) to accredited and non-accredited investors in the amount of $10 million. The offering is being listed on CuttingEdgeX, a web-based platform that showcases DPOs for all types of investors. CuttingEdgeX’s Online Investment Tool (OIT) streamlines the investing process by allowing issuers like HydroRevolution to post the offering documents, explain the investment, stay in compliance with the securities laws, and receive commitments from investors, all electronically.
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- impact investing
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NexThought: From Soap to Cassava – Mentoring Makes the Difference
Cynthia Ndubuisi Mene’s biodegradable liquid soap business, Ever Glow, enjoyed early success in her home country of Nigeria. But as she looked to expand, she sought the guidance of a mentor and found one through the MicroMentor.org network. Her relationship with a former UPS president has not only helped her scale EverGlow, but has led to new business opportunities.
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Indian MFIs Face Legal Hurdles in Plans to Track Borrowers’ Credit Histories Through National IDs
Microfinanciers’ plans to check Aadhaar numbers to ensure potential borrowers aren’t already loaded with loans may come undone after a recent interim ruling by the Supreme Court restricted the use of Aadhaar data to ration shops and cooking gas.
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- Uncategorized
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- South Asia
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- lending, microfinance
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