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PesaLink is no threat to M-Pesa, says Safaricom
The planned launch of interbank mobile money transfer system next month by commercial banks will not slow down revenues from Safaricom's M-Pesa, chief executive Bob Collymore has said. He says a significant number of close to 25 million customers on its money-minting machine, M-Pesa, will not be swayed by PesaLink because they do not hold conventional bank accounts.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Grameen America, Citi and Mastercard Collaborate on Financial Inclusion for Female Entrepreneurs
Grameen America, a leading nonprofit microfinance organization, today announced a collaboration with Citi and Mastercard to introduce a number of financial technology solutions that will greatly enhance the organization’s ability to promote digital financial access and inclusion for more than 86,000 low-income minority women entrepreneurs across the United States.
- Categories
- Technology
- Region
- North America
- Tags
- digital payments, fintech
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Fewer Than 50 Percent of Global Consumers Trust Businesses to Protect Their Financial and Payments Data
Consumers across the globe are more concerned with protecting their financial and payments information stored on a computer than they are with protecting this data when stored on a mobile wallet, according to new benchmark data, "Global Consumer Survey: Consumer Trust and Security Perceptions," from ACI Worldwide (NASDAQ: ACIW) and Aite Group. The global fraud study of more than 6,000 consumers across 20 countries revealed that only 43 percent of global consumers trust businesses, including restaurants and merchants, to protect their financial data -- while surprisingly, more than 80 percent of global consumers generally believe their mobile wallet data is secure.
- Categories
- Technology
- Tags
- data, digital payments, fintech
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Visa Says Malaysia Is the Next Big Mobile Payments Market
Finding the next big growth market is a challenge for pretty much anybody, and mobile payments firms are no different.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments, fintech
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India wants to make credit and debit cards obsolete for payments
Ever since India invalidated much of its cash, it has been encouraging its citizens to switch to mobile wallets and other epayment solutions. Today, it took another step in pushing its citizens to embark on the cashless payment solutions — but early boomers aren't going to like it. The Indian government has launched BharatQR Code to enable people to pay for things they purchase without swiping their plastic cards. Instead, merchants can ask shoppers to scan a QR code and make payments directly from their bank account.
- Categories
- Uncategorized
- Region
- South Asia
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Tanzania: Mobile Cash Transactions Rise Five-Fold Over the Past Year
The amount of cash transacted across networks of mobile phone platforms reached Sh988.9 billion during the second half of last year as telecom firms become an increasingly important payment avenue, giving commercial banks a run for their money.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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Social Business Roundup: Transaction-Fee Wrangling and a Reason to Pay Attention at Your Next Conference
M-Pesa (finally) moves toward fee transparency ... but it didn't take banks long to react. That's one insight in our weekly roundup. We also zone in on high-level impact investing discussions held 1,600 miles apart, The MacArthur Foundation's tightening focus on world-changing ideas, India's cash crackdown and why it could pay to pay attention at trade shows.
- Categories
- Investing
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The Hidden Cost of Digital Convenience
Technology has the potential to reduce costs and provide added financial benefits to poor clients, but a new paper discusses a downside to digitizing group microfinance transactions; namely, a reduction in group cohesion and sensitivity to transaction fees. Innovations for Poverty Action and others are partnering with product designers and microfinance groups to overcome these challenges.
- Categories
- Uncategorized
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