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Designing a Mobile Wallet for Nonliterate People: A Beginner’s Guide
There are about a billion adults in the world who can neither read nor write, but they manage to participate fully in the economy. As fintech evolves, the financial services sector must keep this significant population in mind. Vivek Anand and Saborni Poddar of MicroSave explore what designers should keep in mind when devising a mobile wallet interface for literate and illiterate customers alike.
- Categories
- Finance, Technology
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Africa a guinea pig for the feasibility of digital payment systems
The term “leapfrog” is popular among Africa tech analysts, who point to how the continent embraced mobile phones at a time when few African countries had a properly developed fixed-line network.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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Google goes big in Asia with mobile payment app for hundreds of millions of people
"Tez" which means fast in Hindi, lets users link up their bank accounts to their phones, allowing them to use the app to pay merchants in stores, and instantly transfer money to friends.
- Categories
- Finance
- Region
- South Asia
- Tags
- digital payments, fintech
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It’s Not Just About Price: Innovative Solutions to Africa’s Remittances Problem
Through remittances, millions of migrants in developed countries support the basic needs of loved ones in their home countries. But with limited alternatives available, substantial costs are incurred – particularly in Africa where the average cost of sending money is 9.8 percent. Barry Cooper at Cenfri looks at some innovations that have the potential not only to decrease high fees, but to increase access beyond urban areas.
- Categories
- Uncategorized
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Google is reportedly releasing a localized mobile payment service in India
The publication claims Google ‘Tez’ — meaning fast in India — will offer a comprehensive set of payment options beyond existing products like Google Wallet or Android Pay. Tez, for one thing, will include support for Unified Payments Interface (UPI) — a payment system backed by the government — and other consumer payment services including Paytm and MobiKwik.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments, fintech
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Digital Payments in India – The Race to Capture the Market Begins
According to a recent report on Digital Payment in India 2020 by Google, the total payment via digital instruments is expected to touch $500 billion by 2020.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments, fintech
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Nestlé, Telenor Microfinance Bank partner to launch digital lending for farmers in Pakistan
Under this program, Telenor Bank has been disbursing loans to dairy farmers digitally. The bank has pioneered one of the country’s first data driven digital method in deciding the loan limits with near instant loans. Hence, the loans are disbursed directly to the farmers via Telenor Bank’s mobile banking platform, Easypaisa mobile wallets.
- Categories
- Agriculture, Investing, Technology
- Region
- South Asia
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Perspective: What the World Can Learn From India’s Cash Experiment
A report last month showed that 99 percent of invalidated bills have now made their way back to banks, suggesting the government's plan to extinguish illicit cash has foundered. At the same time, though, currency in circulation is down by about 25 percent from where it would otherwise have been, according to Bloomberg Intelligence, while electronic transactions are up.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments, fintech
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