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Opinion: India’s demonetisation drive has boosted banks and start-ups, but it’s still a failure
When Indian Prime Minister Narendra Modi announced the withdrawal of ₹500 (US$7.40) and ₹1,000 (US$15) banknotes from circulation in November 2016, the government said its demonetisation drive would curb India’s shadow economy and suppress the use of illicit and counterfeit cash in the economy.
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- Technology
- Region
- South Asia
- Tags
- failure
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Fewer Than 50 Percent of Global Consumers Trust Businesses to Protect Their Financial and Payments Data
Consumers across the globe are more concerned with protecting their financial and payments information stored on a computer than they are with protecting this data when stored on a mobile wallet, according to new benchmark data, "Global Consumer Survey: Consumer Trust and Security Perceptions," from ACI Worldwide (NASDAQ: ACIW) and Aite Group. The global fraud study of more than 6,000 consumers across 20 countries revealed that only 43 percent of global consumers trust businesses, including restaurants and merchants, to protect their financial data -- while surprisingly, more than 80 percent of global consumers generally believe their mobile wallet data is secure.
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- Technology
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- data, digital payments, fintech
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Safaricom Rejects Regulator’s Surveillance Plan
Kenyan operator Safaricom has expressed its displeasure and hesitation over plans by the industry regulator to monitor mobile phone use, reports Citizen News. This comes after the Communications Authority (CA) announced it would be installing a monitoring device on all operators’ networks to keep an eye on mobile users who may be engaged in illegal activity and curb use of counterfeit phones in the country.
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- Technology
- Region
- Sub-Saharan Africa
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Visa Says Malaysia Is the Next Big Mobile Payments Market
Finding the next big growth market is a challenge for pretty much anybody, and mobile payments firms are no different.
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- Technology
- Region
- South Asia
- Tags
- digital payments, fintech
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Securitization portfolio of Indian microfinance industry plummets in Q3 due to note ban
The cash-intensive microfinance industry’s securitisation portfolio plummeted in the quarter ended December because of demonetisation, according to a report released on Thursday by Microfinance Institutions Network (MFIN).
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- Technology
- Region
- South Asia
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Meet The App That’s Empowering The Women Of Myanmar To The Bank
Financial inclusion is a topic of growing importance in countries such as Myanmar, where advances in tech are rapidly changing the dynamics in how people access financial products. As I wrote in 2016, fintech companies are capitalizing on Myanmar’s rapid development and increasing smartphone and internet penetration by offering digital financial products.
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- Technology
- Region
- South Asia
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Midiwo in another attempt to cut Safaricom’s stranglehold in telco market
Leading communications service provider Safaricom could be spilt into several smaller entities following a new push by Parliament to break the firm’s lead in the financial sector. National Assembly Deputy Minority Leader Jakoyo Midiwo (Gem) is seeking an amendment to the Kenya Information and Communications Act (1998) to have telecommunication companies separate their businesses along lines of service provision.
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- Technology
- Region
- Sub-Saharan Africa
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Kenya denies mass mobile phone surveillance plan
Kenyan mobile phone firms have been ordered to install equipment to allow the telecommunications regulator to monitor activity on their networks. It means the Communications Authority of Kenya (CA) would have the ability to listen to calls, read messages and view financial transactions.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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