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Mobile Payments Outgrow Smartphones in India
With the government push for cashless transactions, after the demonetization of high-value currency notes, the electronic payments data released by the Reserve Bank of India presents an encouraging shift towards digital payments. The adoption of non-tradition digital payment mechanisms, i.e., payments made using Unstructured Supplementary Service Data (USSD) for mobile communications, Unified Payment Interface (UPI) and e-wallets is evident from the growth in volume of transactions and their value, albeit on a low base.
- Categories
- Technology
- Region
- South Asia
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Kenya’s M-Pesa platform is so successful regulators worry it could disrupt the economy
A sizable portion of Kenya’s economy is now deeply ingrained in the platform to levels that are starting to concern officials on the economic consequences in the event of system-wide collapse or compromise.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Paper: Digital Finance Interoperability & Financial Inclusion
Interoperability—the ability for different systems to connect with one another—is attracting a lot of attention among digital finance experts. Interoperable payment systems have the potential to make it easier for people to send payments to anyone and receive payments from anyone quickly and cheaply. Financial service providers welcome the new business opportunities that would emerge from this higher volume of transactions, and policy makers see interoperability as a means to bring more poor people into the financial system, thus fostering financial inclusion.
- Categories
- Technology
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Wari And Mastercard Partner to Deliver Digital Payment Solutions In 35 African Markets
Wari and Mastercard signed a Strategic Alliance Agreement that will help strengthen the Wari offering for its users but also the digital payment ecosystem in 35 African markets.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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IFC to lend $100m to Indonesian bank BTPN
Indonesia’s Bank Tabungan Pensiunan Nasional (BTPN) will receive $100 million in loans from the International Finance Corporation (IFC), according to a filing. The loans will be used to fund the growth of BTPN’s micro, small and medium enterprises businesses (MSMEs). It will also be channeled to women borrowers.
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- Technology
- Region
- South Asia
- Tags
- digital payments
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Kenyan Banks Are Closing in on What They Think Will Be the Perfect M-Pesa Disruptor
Early next year, Kenyan banks are expected to unveil a digital and mobile money transfer platform to rival M-Pesa’s longstanding dominance as the scramble for cashless payments intensifies.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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Amazon Launches Amazon Pay Balance in Bid to Increase Cashless Transactions in India
Amazon India on Friday launched its online wallet Amazon Pay Balance, in a bid to increase cashless orders.
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- Technology
- Region
- South Asia
- Tags
- digital payments, fintech
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Digital Payment Startups in India Unaware of High Security Risks
As India embraces a cashless economy, there has been a sudden spurt in new mobile wallet companies — but most of these start-ups are setting up digital shops without knowing the cyber risks involved, a top executive from US-based cyber security firm FireEye has emphasised.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments, fintech
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