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M-Pesa Remains Primarily a Payments Tool, a 2019 CGAP Survey Reveals
The survey has revealed that an average M-PESA net balance is less than KES 1,000 ($10) and this figure remains constant whether the user has a bank account or not. These balances were the same across employment types and income levels.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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WhatsApp in Talks to Launch Mobile Payments in Indonesia
Indonesia could become the second country worldwide where WhatsApp introduces such services, as it awaits regulatory approval from India, its biggest market by users, that has been delayed due to local data storage rules.
- Categories
- Finance
- Region
- Asia Pacific
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China’s Proposed Digital Currency Will Help Banks Bridge Gap on Mobile Payment, Curb Dominance of Alipay, Wechat
Banks’ participation in the central bank’s digital currency will help them better compete with third party payment network operators.
- Categories
- Finance
- Region
- Asia Pacific
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Survey: Cash Payment Still ‘King’ in Kenya, Despite Digital Money Growth
According to the report, just under half of domestic remittances and 30 per cent of bill payments are now made via mobile money.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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India’s Aadhaar Pay Regains Tempo, Usage Hits 200 Million
Aadhaar-based payments make customers who do not have smartphones or who are uncomfortable using cards, transact digitally.
- Categories
- Finance
- Region
- South Asia
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New Mobile-To-Mobile Digital Payment Service Launched in Africa
WorldRemit’s mobile-first digital model is said to save customers time and money as they don’t need to visit a money transfer agent to send funds home to their loved ones.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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PayPal Fires up “Ripple-Killer” Xoom App for International Payments
The mobile payments app offers next-day money transfers at fees lower than its main payments platform PayPal. According to the website, transfers on Xoom cost around $4 in Europe and $9 to countries further afield.
- Categories
- Finance
- Region
- Europe & Eurasia
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Why Payment Fraud is a Critical Threat to Financial Inclusion – And How Mojaloop is Making it Worse
The next key step in financial inclusion is payment interoperability, in which digital finance providers’ networks are connected to enable transactions between users of different systems. But though interoperability has major potential for the sector, it also comes with huge risks, says Clear Purchase founder Nick Brown, an expert in payment infrastructure. He explains why a massive payment fraud attack could do substantial and long-lasting damage to the financial inclusion movement, and how an open-source platform like the Gates Foundation's Mojaloop increases the risk.
- Categories
- Finance, Technology
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