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10 Challenges That Could Make or Break India’s Payments Banks: Their revolutionary potential is no guarantee
Last week, the Reserve Bank of India announced that it will issue 11 Payments Bank (PB) licenses, permitting a variety of institutions to provide a limited slate of financial services to underserved populations. The RBI hopes PBs will “revolutionize banking” in India, but their impact is not guaranteed. Here are 10 challenges PBs will face – and how they can live up to the government’s ambitious goals.
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Consumers lose out as Safaricom and Equity tariff wars intensify
A fresh storm is brewing between Kenya’s financial services giants, Safaricom and Equity Bank, over the rates being levied to consumers making transactions across the two service providers.
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- Sub-Saharan Africa
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Bharti Airtel and Uber Announce First-of-its-Kind Strategic Partnership
As part of this partnership, Uber riders across India can now pay for their trips using Airtel mobile wallet service – Airtel Money.
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- South Asia
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- digital payments
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Indian Payment Solutions Provider ePaisa Incorporates Bitcoin Payments
ePaisa, an Indian payment processor that offers mobile based cash and card payment applications for small and medium businesses has now included bitcoin as one of the payment options.
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- South Asia
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5 tech startup ideas that Kenya can export
Having pioneered mobile money solutions like MPesa and crowd-sourcing platform Ushahidi, Kenya’s innovative, resilient and global-looking tech community is working on the next big thing.
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- Technology
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- Sub-Saharan Africa
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- digital payments
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Will West Africa be the New East Africa in Mobile Money?: Shifting regulations and a growing ecosystem make the region an area to watch
Though the member countries in the West African Economic and Monetary Union share one currency and one central bank, their mobile money ecosystems differ greatly. However, interoperability will likely be integrated across most of these countries in the not too distant future. Could its new regulatory regimes and developing ecosystems help the region take its place alongside the mobile money sprinters of East Africa?
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- Technology
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Kenyan banks take on M-PESA in fight for money transfer billions
Kenya Bankers Association plans to launch an interbank mechanism to enable interoperability across member banks for all retail payment streams, aiming to eat into M-PESA’s market share.
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- Sub-Saharan Africa
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Mobile payments app Paytm to allow Indian consumers to bargain with merchants
Mobile payments and e-commerce application Paytm is launching a messenger function directly connecting buyers and sellers.
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- South Asia
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- digital payments