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Scaling Access to Finance: Two Recent Studies Explore the Supply and Demand Sides of Funding ‘Missing Middle’ Enterprises in Emerging Markets
Over $5 trillion: That’s the estimated size of the financing gap for small and medium-sized enterprises (SMEs) in developing countries – a shortfall that's particularly problematic for the much-discussed “missing middle.” Since these businesses form the backbone of local economic growth and job creation in many communities, we need to better understand the challenges they face, says Karina Avakyan at Triple Jump. She explores two recent publications that address both sides of SMEs’ financing equation.
- Categories
- Finance
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From Credit Cards to the ATM: Why Interoperability is the Critical Next Step for Mobile Payments
One of the first modern disruptors to established payment methods was the credit card, which allowed people to simply sign for their purchases and be billed later. Then came the ATM, which helped to establish a web of bank networks. Mobile money systems are the latest disruptor, particularly in low-income markets where banking systems have not always served customers. But to grow and be financially inclusive, mobile money will need to replicate many of the same factors that drove the popularity of credit cards and ATMs, argues Vahid Monadjem, CEO of Nomanini.
- Categories
- Finance, Technology
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Jan Dhan Yojana’s social security feature has failed to take off
The claim numbers for two in-built social security schemes under Pradhan Mantri Jan Dhan Yojana accounts are at abysmally low level of less than 10,000 claims paid so far.
- Categories
- Finance
- Region
- South Asia
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Mexican central bank in talks with Amazon about new mobile payments
The payment system, known as CoDi, is being built by central bank Banco de México, known as Banxico. CoDi will allow customers to make payments online and in person through smartphones free of charge using QR codes.
- Categories
- Finance, Technology
- Region
- Latin America
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Nigeria, others to push mobile money accounts to 110 million by 2024, says GSMA
“The mobile money industry is fast-evolving against a backdrop of increasing internet access and smartphone adoption, and now more than ever, mobile’s unparalleled global scale provides a tremendous opportunity to reach the 1.7 billion people who remain financially excluded, said Mats Granryd, Director General, GSMA.”
- Categories
- Finance, Telecommunications
- Region
- Sub-Saharan Africa
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Pakistan’s financial inclusion strategy to create 3 million jobs in five years, says finance minister
The government is fully committed to improving the livelihood of Pakistanis through job creation, promoting entrepreneurship and enhancing access to formal financial services in an efficient and affordable manner, emphasised Finance Minister Asad Umar.
- Categories
- Finance
- Region
- South Asia
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Mexico Ruling Party Says Deal Struck With Banks on Fee Bill
The new version of the bill removes across-the-board prohibitions from the original legislation, but requires banks to offer zero-fee accounts to low income clients, Monreal’s aide Juan Garay said.
- Categories
- Finance
- Region
- Latin America
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European Microfinance Award 2019 Focuses on How Financial Inclusion Sector can Strengthen Resilience to Climate Change
The European Microfinance Award 2019 seeks to highlight organisations active in the financial inclusion sector that provide financial and non-financial products and services aimed at strengthening the resilience of vulnerable communities to the effects of Climate Change.
- Categories
- Finance
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