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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?
- Categories
- 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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- Uncategorized
- Region
- 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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- Uncategorized
- Region
- South Asia
- Tags
- digital payments
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A Hundred Apps Bloom in China as Millions Bank on Their Phones
Consumers are skipping straight from cash to mobile finance.
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- Technology
- Region
- Asia Pacific
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MobiKwik and StoreKing bring financial inclusion to rural India
MobiKwik, India’s largest independent mobile payments network, today announced a new partnership with StoreKing that expands MobiKwik’s cash-less and card-less payment management to 10,000 retail stores in 600 small towns and 5,000 villages.
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- Uncategorized
- Region
- South Asia
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Asia Pacific leads the way as mobile payments head towards US $1 trillion
Mobile payments globally will rocket to US$1 trillion in value by 2017, up from an estimated $500 million this year.
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- Uncategorized
- Region
- Asia Pacific
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10 startups that are attempting to unseat cash through digital payments in India
In India, 95% of all payments have been made through cash - but a number of factors could catalyze a digital shift.
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- Uncategorized
- Region
- South Asia
- Tags
- digital payments
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M-Pesa and the Rise of the Global Mobile Money Market
Most people probably don’t think of Kenya as an innovation and technology hub, but in 2007 it became the launching pad for M-Pesa, a transformativemobile phone-based platform for money transfer and financial services. Since then, M-Pesa has undergone explosive growth: in 2013, a staggering 43 percent of Kenya’s GDP flowed through M-Pesa, with over 237 million person-to-person transactions. M-Pesa is nearly ubiquitous in the daily lives of Kenyans due to a range of services that include money deposit and withdrawal, remittance delivery, bill payment, and microcredit provision.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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