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Viewpoint: Think Twice About Going Cashless
Even now, after the chaos caused by India's decision last November to eliminate nearly 90 percent of its banknotes, few people would argue with the policy's underlying assumption: Going cashless is, if handled well, a good thing. Yet the fact is, most arguments in favor of demonetization don't stand up to scrutiny. And those that do should raise other concerns.
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- Technology
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State Bank of Pakistan approves launch of the country’s first free mobile wallet service
Mobile payment app SimSim became Pakistan’s first free mobile wallet service after the State Bank of Pakistan (SBP) approved the official launch of the service – a move the company said would boost financial inclusion in the country.
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- Technology
- Region
- South Asia
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Can digital credit work for development?
The rise of digital banking means that people around the world can now borrow, save or pay with their mobile phones. Digital credit providers are using alternative sources of data to determine creditworthiness and provide loans to populations that have never had access to them before.
But while these products offer a convenient way for consumers to access cash for personal or business expenses, they also present risks. If borrowers do not understand the loan terms, or take out more than they are able to repay, the result can be bankruptcy.- Categories
- Technology
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MetLife Foundation Is Proud to Present Its 2016 Annual Report
When MetLife Foundation launched our financial inclusion strategy in 2013, the financial inclusion industry was beginning to show that a well-coordinated global effort could produce impressive results. We saw that more than 2 billion people lacked access to formal financial services. But we also saw how steadily that gap was being closed.
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- Uncategorized
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Everex to Enable Mobile Blockchain-Powered Microfinance via Ethereum
Everex mobile fiat transactions are based on the company’s already existing Cryptocash service and its mobile Ethereum wallet. Cryptocash is an Ethereum ERC20 token family, pegged to fiat currencies and tradable on the Everex Wallet, as well as on third-party applications and exchanges.
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- Uncategorized
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Cashless Hospitalization, Premiums of $3.90 a Year … and the Program Pays for Itself
Beset with high levels of preventable illness and avoidable hospital admissions, India needs a risk coverage instrument that shields poor and low-income households. Grameen Koota thinks it's found one; the microfinance organization's insurance plan offers a variety of medical services at an annual premium of $3.90, capturing the pricing benefit of risk-pooling between different households.
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- Health Care
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Four Ways Digital Finance Can Prepare for the Next Wave of Mobile Money Disruption
The mobile money and agent banking markets of the developing world are due for disruption, so digital finance providers should start preparing. A new research paper from the Helix Institute of Digital Finance offers tips on preparing for the new wave, plus some advice: Focus on data, "the common denominator and foundation for all financial technology companies."
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- Technology
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Indians are using mobile wallets more but for smaller purchases
As the Indian economy recovers, mobile wallet payments are continuing to accelerate. Their transaction value of over $3.6 billion in the first quarter of 2017 marked a 60% increase from the previous quarter, according to a new report from RedSeer Management Consulting.
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- Technology
- Region
- South Asia