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The Newly-Launched Uber Cash Is the New Nightmare for Uber Drivers in Africa
Five days ago, global ride-hailing giant, Uber, announced the addition of a new payment feature to its app for users in Africa. However, this is the sort of development that would’ve gotten Uber drivers bummed as much as it got Uber and its users pumped.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Do Cash Payments Have a Bright Future After COVID-19 in Emerging Markets?
Pandemic has undoubtedly accelerated uptake of alternative payment methods and helped normalise their usage
- Categories
- Coronavirus, Finance
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Cash, Long a Refuge in Uncertain Times, Now Under Suspicion
This time cash itself, passed from hand to hand across neighborhoods, cities and societies just like the coronavirus, is a source of suspicion rather than reassurance.
- Categories
- Coronavirus, Finance
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Coronavirus Is Triggering Deep Digital Change in African Fintech
In a bid to curb the spread of the virus, the World Health Organisation has been cautioning against the use of hard currency and encouraging the use of digital payments. This move has prompted African governments and regulators to enforce measures aimed at facilitating more cashless transactions.
- Categories
- Coronavirus, Finance
- Region
- Sub-Saharan Africa
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Will the Coronavirus Pandemic Push Africa’s Mobile Money Markets to the Next Level?
Kenya is arguably the world's top mobile money market, and one reason for its success is that a “trigger” event – the post-election violence of 2008 – forced the rapid, large-scale adoption of mobile payment services. Jill Lagos Shemin explores how the unique demands of the coronavirus pandemic could prove to be a similar catalyst for mobile money growth in other countries, and how providers and other stakeholders can build upon this momentum to create more inclusive digital ecosystems for underserved customers.
- Categories
- Coronavirus, Finance, Technology
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Zimbabwe’s Lack of Cash for Once Is a Good Thing
“It’s a big advantage,” Eddie Cross, a member of the central bank’s monetary policy committee, said of the cashless environment. Reserve Bank Governor John Mangudya last week urged lenders to ensure uninterrupted continuity with all digital banking platforms, which were the “safest and most secure forms” of transacting.
- Categories
- Coronavirus, Finance
- Region
- Sub-Saharan Africa
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Financial Inclusion: Mexico Plans a Bank-Building Spree
Financial inclusion has long been a problem in Mexico. Less than half of the population has a bank account. The credit-to-GDP ratio is around 34% – stubbornly low relative to comparable countries in Latin America.
- Categories
- Finance
- Region
- Latin America
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Cash Is Dying, and the Unbanked Are Being Left Behind
A report by the Boston Consulting Group identified five main barriers to cashless payment systems: high cost of electronic payments to retailers, lack of solutions for the customer, lack of governmental support, insufficient trust in digital payments, and an absence of support infrastructure. And those reasons make sense.
- Categories
- Finance
- Region
- North America
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