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Paytm offers unsecured loans to small businesses, Mobikwik to follow suit
Paytm wants to prise the vice-like grip of banks away from local moneylenders over the loan business. The mobile wallet company, which aspires to become a digital bank, has started offering unsecured loans to merchants such as the neighbourhood grocer or the mobile recharge shop or the auto driver, who use the wallet to accept offline payments.
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- South Asia
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- digital payments
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Aadhaar goes global, finds takers in Russia and Africa
Aadhaar, India’s biometrics-based identification system, may have its detractors at home, but governments overseas have shown interest in adopting the model or some form of it.
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Tigo Tanzania unveils cross-network money service
Tigo Tanzania announced a move to allow its users to receive money from customers that use other major telecoms networks in the country. In a press conference held in Dar es Salaam, the company launched the new campaign, dubbed NITIGOPESA, which will see customers on all major networks in the country be able to transact mobile financial services with Tigo Pesa customers.
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- Sub-Saharan Africa
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Beyond the Lending Club Scandal – Why Marketplace Lending is Still Needed in Emerging Markets
Renaud Laplanche, the CEO of industry pioneer Lending Club, resigned in May amidst rumours of fraud and malpractice. Since then, critics have been trying to write off marketplace lending as a flawed business model. But it's too early to discount the value of the entire industry – especially as it emerges in markets like India and China to address the critical needs of SMEs.
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Mounting pressure on Zimbabwe telcos as economy stagnates
Zimbabwe's deflated economy is impacting on the country's telecommunications industry and has forced operators to leverage promotions to reduce service tariffs. The local economy is battling severe cash shortages and resulted in a daily limit on withdrawals of approximately US$200.
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- Sub-Saharan Africa
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New IIF, CFI study shows banks’ contributions to financial inclusion
The study--based on in depth interviews of 24 banks in 19 countries--includes insights and innovative solutions to the business challenges of financial inclusion.
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Launch of the Mass Market Financial Inclusion Programme
In partnership with the MasterCard Foundation, Microcred Group, a digital finance group specialized in financial inclusion especially for micro-businesses and SMEs in Africa and China, launched the Mass Market Financial Inclusion Programme in the Ivory Coast, Senegal and Madagascar.
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Report: India’s PMJDY initiative narrowing gender divide in financial inclusion
PMJDY has played a crucial role to cover more Indian women under the financial inclusion folder with as many as 47 per cent of them possessing the basic bank account under the scheme, a report study said today.
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- South Asia