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Press release: Mastercard and Accion Partner to Unlock Growth for Millions of Underserved Microbusinesses around the World
Michael Schlein, president and CEO of Accion said: “Mastercard’s unrelenting focus on innovation and inclusion is helping to unlock opportunity for millions of people to build a brighter future for themselves, their families, and their communities. We are thrilled to take our partnership to a new level. Together we will work hard to ensure that today’s digital transformation of financial services benefits those who have been left out or underserved by the global financial system.”
- Source
- Press release
- Categories
- Finance
- Tags
- digital payments, fintech
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Warren Buffett’s Holding Invests $600M in Fintech Firms Focused on Emerging Markets
Multinational holding conglomerate Berkshire Hathaway – which counts outspoken crypto critic Warren Buffett as its CEO and chairman – has invested around $600 million in two fintech payment firms focused on emerging markets, the Wall Street Journal (WSJ) reported Oct. 29.
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Viewpoint: As Safaricom turns 18, has its innovation ‘conveyor belt’ slowed?
After the global acclaimed mobile money transfer service Mpesa, Safaricom has not had another innovation that has captured its users.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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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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