-
Six months after demonetization, Kolkata’s first cashless transactors shift back to cash
The winds of change that brought in plastic money and e-payments to traditional shops have blown over. Cash is back.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments, fintech
-
UN report: Social network payments now reach nearly US $3 trillion in China
A new UN study reveals that Alipay and WeChat Pay enabled US$2.9 trillion in Chinese digital payments in 2016, representing a 20-fold increase in the past four years. The data shows that digital payments, using existing platforms and networks, provide access to a wider range of digital financial services, expanding financial inclusion and economic opportunity throughout China and neighboring countries.
- Categories
- Technology
-
New RBI plan could bring bad news for m-wallets like Paytm and Mobikwik
Mobile wallet company executives last week expressed their concerns to Reserve Bank of India officials over the proposed guidelines for the sector, in their formal feedback to the regulator on them. RBI had issued draft guidelines for prepaid payment instrument (PPI) licence holders in March and several had flagged issues such as know your customer (KYC) norms.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments
-
Amazon India gets RBI nod for mobile wallet
Online marketplace Amazon India has secured a licence to operate pre-paid payment instrument (PPI) or mobile wallet in the country as it tries to compete more aggressively against rivals Snapdeal and Paytm.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments
-
Bitcoin Startups BitPesa and Bitbond Deliver P2P Loans for African Businesses
Bitcoin startups BitPesa and Bitbond, based in Africa and Germany respectively, have announced a new initiative to bring financing options to businesses in Kenya, Nigeria, Tanzania and Uganda.
- Categories
- Technology
- Region
- Sub-Saharan Africa
-
Digital Payments Made Through UPI See Massive Jump in India
Digital payments through the Unified Payments Interface (UPI), the mobile-based national payment system, continue to surge even after the end of demonetisation-induced cash shortage, latest data from Reserve Bank of India shows.
- Categories
- Technology
- Region
- South Asia
-
Equity mobile cash platform cuts Safaricom market share
Equity Bank’s mobile banking platform accounted for over a fifth of mobile money transfers in the latest sector statistics by the Communication Authority of Kenya.
- Categories
- Technology
- Region
- Sub-Saharan Africa
-
Digital transactions decline for third straight month in India
Digital payments, which saw a huge jump post demonetisation, is seeing some form of correction in transaction numbers and value of payments for the third month in a row in 2017. All major forms of digital payments, Immediate Payment Service (IMPS) along with mobile wallets and plastic cards, have seen a reduction in transaction numbers.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments, fintech