Thursday
June 14
2018

Phone becomes a throw-in for mobile wallet app in South Africa

By John Adams

Telco mobile money apps drove financial inclusion in parts of Africa a decade ago, and a startup is trying to kick off another wave by giving the technology away.

MyBucks, a company headquartered in Luxembourg that publicly trades in Frankfurt, was founded in 2011 to make microloans to small businesses. It has since added machine learning, bots and alternative data sources to drive credit decisions for more than a year.

Photo courtesy of Scott Mainwaring.

Source: PaymentsSource (link opens in a new window)

Categories
Finance
Tags
digital finance, digital payments, financial inclusion, fintech, microlending, mobile finance, mobile money, telecommunications