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Cash triumphs in Kenya’s public buses as train, taxis embrace cashless system
The cashless system had the backing of the government, top telecommunication firms and banks, which touted the cards as the panacea to end corruption on the road and curb haphazard fare increases.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Why India lags peers in digital payments
Yet despite this growth, after adjusting for population, India continues to lag other major countries. Among the BRICS countries (Brazil, Russia, India, China and South Africa), Russia leads the way with the average adult making more than 200 non-cash transactions annually.
- Categories
- Finance
- Region
- South Asia
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Google touts 30 million monthly users for its mobile-payment platform in India
Alphabet Inc.’s Google has dominant positions in search, advertising and mobile devices, but the company has had to play from behind when it comes to mobile payments.
- Categories
- Finance
- Region
- South Asia
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Report: Tencent, Ant Financial Entry to Boost Philippines Financial Services
Tencent and US-based private equity firm KKR marked their entry in the Philippines on October 4 following a deal to invest up to $175 million in PLDT’s digital arm Voyager Innovations.
- Categories
- Finance
- Region
- Asia Pacific
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Zimbabwe is hiking mobile money taxes to plug its fiscal deficit, but it could backfire
In a country with a history of cash shortages, multiple currencies and hyperinflation, mobile money had become a key payment alternative. Cash is hardly ever accessible in Zimbabwe as banks frequently run out of monetary notes, leaving mobile money and bank cards as the only transaction options.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Western Union Makes Digital Push Amid Fierce Competition for Money Transfers
Of the $81.8 billion Western Union consumers transferred in 2017, 91% was sent across international borders. Raj Agrawal, finance chief of the company, estimated that westernunion.com money-transfer revenue—which includes use of the mobile app—last year topped $400 million, or about 11% of consumer revenue.
- Categories
- Finance
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Africa Roundup: Paga goes global and 4 startups raise $99M in VC
Paga looks to go head to head with regional and global payment players, such as PayPal, Alipay, and Safaricom according to Oviosu.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech, startups
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WorldRemit Offers Free Service For Ethiopian Diaspora In America
WorldRemit, one of the top digital money transfer company, launches a free of charge remittance transfer service for Ethiopian diaspora in the United States.
- Categories
- Finance
- Region
- North America
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