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Pakistan’s Central Bank Calls India’s Cash War ‘Extreme’
Pakistan’s central bank Governor Ashraf Mahmood Wathra called India’s shock clampdown on cash an “extreme” step to boost financial inclusion, tax collection and battle graft, as the neighboring nation implements its own plans to double the number of people using banks within four years.
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- Uncategorized
- Region
- North Africa & Near East
- Tags
- banking, cash, financial inclusion, government
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Demonetization Seems Like Deflation for Many People in India; Danger Signal for PM Modi
Narendra Modi talked emotionally about his commitment to eliminating black money yesterday (13 November) and sought 50 days to fix the cash crisis created by the demonetisation of Rs 500 and Rs 1,000 notes. Actually, he has far less time than that as the ordinary citizen’s patience is wearing thin after hours of standing in the sun before bank branches or ATMs. Modi has a potential PR disaster and political setback to reckon with.
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- Uncategorized
- Region
- South Asia
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In 7 years, cash will no longer be king for most Indians
In the next seven years, cashless or digital transactions will overtake cash transactions in India — the world’s fastest-growing internet economy — which hopes to add over 300 million internet users by 2020.
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- Uncategorized
- Region
- South Asia
- Tags
- cash, digital currency, mobile money
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Cash Is Costly in the Caribbean, Says Mastercard Study
A study commissioned by MasterCard indicates that nine out of 10 transactions in Jamaica are done by cash or cheques, underscoring the problem of costly informality, according to the global card company.
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- Uncategorized
- Region
- Latin America
- Tags
- cash, financial innovation
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Can Cash Lead the Revolution That the Humanitarian System So Badly Needs?
Recently, in a Liberian refugee camp, I met Christelle, a young mother who was recovering from the violence and insecurity in her home country of Côte d'Ivoire. In our discussions, she didn`t want to talk about her needs for shelter, psychosocial support, or the any of the humanitarian challenges I had come prepared to discuss. Instead, Christelle spoke of the unfamiliar food she had been given during an aid distribution, and the lack of options to feed her children. “My children are getting sick. I don’t know how to cook this, I need rice - please,” she said.
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Zimbabwe’s Cash Shortage Hits Mobile Money Services
Mobile money transfer agencies in Bulawayo have in the past few days recorded low business due to the cash crisis that hit the country in recent weeks.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- cash, fintech, mobile money
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Pro-Women, Anti-Cash: How Cashless Economies Can Boost Women’s Empowerment
We are still a long way from a world where cash is obsolete – in fact, 85 percent of consumer transactions are still conducted in cash, and for many people, hard currency clearly remains a useful commodity. But the landscape is changing rapidly, and for the world’s poorest and most excluded communities – and for women in particular – the drive towards cashless economies offers an exciting window of opportunity.
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Five Reasons NGOs and Social Enterprises are Going Cashless
With over 250 services deployed in 89 countries worldwide, mobile money has enjoyed explosive growth among consumers in emerging markets. But digital payments are also transforming the work of development-focused organizations, many of which are shifting their bulk payment systems from cash to digital. This post explores the far-reaching organizational and financial benefits of this approach.
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