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Indian Digital Wallet Firm MobiKwik in Talks to Raise Funds, Eyes $1-Billion Valuation
Indian mobile payments and digital wallet firm MobiKwik says it is in talks to raise more funds at a level that would give the start-up a $1 billion (roughly Rs. 6,698 crores) valuation, as it pushes to forge new ties with banks and offer new financial services on its platform.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments, fintech
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MasterCard Partnering with Kenyan Government to Roll Out New Payment Card
Mastercard is partnering with the local government in Kenya to help address the growing problem of citizens having to move from place to place in order to access and pay for government services.
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- Technology
- Region
- Sub-Saharan Africa
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Viewpoint: Mobile Money’s Potential is Unfulfilled
The mobile phone is a central component to unlocking access for the billions of people still excluded from the mainstream of financial services. Its potential is widely understood. But while use of entry-level smartphones has accelerated, access to mobile money services and use of these services remain challenging in many markets.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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Pakistan government to launch $130m financial inclusion project
The government is embarking on the Pakistan Financial Inclusion and Infrastructure Project aimed at increasing access to financial services for households and businesses by improving usage of digital payments in the country. Two World Bank institutions — International Bank for the Reconstruction and Development and the International Development Association — will jointly provide $130 million finance for the project.
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- Technology
- Region
- North Africa & Near East
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Yet again, China’s Alibaba pumps Paytm with fresh funding of $200 mn
To help boost Paytm’s e-commerce business, Alibaba will reportedly be making an investment of $200 million which will give Paytm a valuation of about $1 billion. Alipay, the payments affiliate of Alibaba, and investment firm SAIF Partners have also participated in the deal, reportedly.
- Categories
- Technology
- Region
- Asia Pacific
- Tags
- digital payments, fintech
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Cash Defenders are Wrong: Digital Finance Truly is ‘Pro-Poor’
Digital economies are gaining momentum, says Njuguna Ndung’u, former governor of the Central Bank of Kenya, and poor households benefit the most. He's concerned that "the uninformed defenses of cash-heavy economies risk unnecessary distraction from the real issue of how to ensure digital economies maximize the benefits to people in poor communities around the world."
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- Uncategorized
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After 10 successful investments, Micromax starts $100 million fund
India’s prominent smartphone maker Micromax is launching an investment fund of up to $100 million to invest in consumer Internet companies relevant to the Indian market. Named Orbis Capital, the fund will raise money from Indian and foreign private equity firms and pension funds. The fund’s advisory board will have prominent entrepreneurs like Nami Zarrighalam, Founder of Truecaller, and renowned investor Perry Blacher among others.
- Categories
- Investing
- Region
- South Asia
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Learning from (and About) India’s Emerging Digital Money Grid
The Indian government's experience in converting all its citizens onto a digital platform can help inform all digital finance professionals interested in financial inclusion models, according to Ignacio Mas and his team at the Digital Frontiers Institute. So they've collaborated with MicroSave to create a four-week online course, Digital Money Grid India, which they'll offer starting March 27.
- Categories
- Education