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Opinion: The Achilles’ Heel For Payments Banks And Financial Inclusion
The RBI's latest operating guidelines for payments banks permit payments banks to "use KYC done by the promoter / promoter group entity", if it "is of the same quality as prescribed for a banking company". This will allow payments banks to leverage their existing telco customer base, and (where KYC has been done to prescribed standard) send out SMSs offering to open an account at the click of a button.
- Categories
- Technology
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KCB Bank Kenya, Western Union Introduce Mobile Money Transfer
KCB Bank Kenya and Western Union have launched a mobile-phone based money transfer service.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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Report: This Is What Would Happen to Kenya’s Economy if M-Pesa Was to Collapse
A Treasury report warns that an M-Pesa outage would cause loss of revenue and reduce confidence in the mobile money transfer services. FILE PHOTOA Treasury report warns that an M-Pesa outage would cause loss of revenue and reduce confidence in the mobile money transfer services.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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New Pathways to Financial Inclusion for Low-Income Women
Developing countries have made great strides on financial inclusion in recent years, but a gender gap remains. A new report analyzes women’s stories and their detailed cash flows over time from financial diaries data collected in Kenya, India and Mexico, offering insight into why women in emerging economies don’t use formal financial services to the same extent as men.
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- Uncategorized
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M-Wallets Surge in Small Towns in Nation-Wide Cash-Crunch in India
As India outlawed its two biggest banknotes, mobile wallets are witnessing a spurt in enquiries and usage in small towns, as unavailability of currency hit wide across the country.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments, fintech
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Modi’s ‘Masterstroke’ Cash Ban to Boost India Digital Push
Cash may no longer be king in India. The nation’s nascent digital economy stands to be the biggest beneficiary of its strongest crackdown on corruption since 1978.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments, fintech
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Safaricom Monitoring Use of Free M-Pesa Transactions Offer
Safaricom has revealed that it is watching the use of its new M-Pesa Kadogo offer of free transactions for amounts of less than 100 Ksh in order to determine whether a limit should be imposed on the number of transactions per user. The mobile operator introduced M-Pesa Kadogo during the release of its unaudited half year 2017 results (for the period ended September 30 2016).
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Where Aggregators – and Open APIs – Fit Into Financial Inclusion
The introduction of a truly Open API is an exciting prospect for individuals and institutions interested in financial inclusion – digital financial providers, economists, technologists and developers alike. Building a successful business model, however, requires that the Open API is technically sound and that the financial inclusion community is included and encouraged to collaborate on innovative solutions.
- Categories
- Finance, Technology