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Indian government exploring ways to insure mobile wallet balances
The government is exploring options to insure money in mobile wallets similar to how banks offer insurance on savings accounts. According to sources, the government is talking with the stakeholders — wallet players and insurance companies — to work on the rules.
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- Technology
- Region
- South Asia
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VISA, Atlas Mara in Major Payments Deal
Global payments firm Visa and Atlas Mara Limited that bought two of some of Rwanda’s biggest banks, have signed a commercial partnership to introduce new payment solutions and expand access to electronic payments within the Sub-Saharan Africa region.
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- Technology
- Region
- Sub-Saharan Africa
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How small borrowers in six Indian villages went digital
In a first-of-its-kind initiative in micro-finance post-demonetisation, 60,000 small borrowers from six small villages in Odisha are leading the way towards cashless transactions. This was made possible thanks to a pilot done by Bharat Financial Inclusion (formerly SKS Microfinance) for cashless and paperless disbursals.
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- Technology
- Region
- South Asia
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India’s MFI sector yet to get over demonetisation impact
The microfinance industry is still facing challenges two-and-a-half months into demonetisation, with repayment collection taking a hit in some rural pockets where cash supply is yet to become normal and in parts of Maharashtra and poll-bound Uttar Pradesh, raising the spectre of a deterioration in asset quality.
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- Technology
- Region
- South Asia
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The Fourth Industrial Revolution: How Big Data and Machine Learning Can Boost Inclusive Fintech
It's easier and cheaper to generate data than ever before, and the tools to turn data into insights are growing exponentially. So much so, according to Matt Grasser of BFA, that any organization dealing with data that does not apply machine learning will be left behind. He explores the experiences of Destacame.cl, a fintech startup, in using machine learning to help identify good and bad payers based on a score.
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- Finance, Technology
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What makes Senegal’s digital currency different?
Towards the end of last year, a regional bank for francophone west Africa, Banque Régionale de Marchés (BRM), issued a digital currency in Senegal (which it initially dubbed the eCFA but has since decided to rename). It acts similar to other digital currencies and consumers can interact with it across existing payment platforms, such as electronic and mobile wallets.
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- Technology
- Region
- Sub-Saharan Africa
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A Tale of Four IPOs: Is Public Investment in Microfinance Becoming OK Again?
Initial public offerings have long been a controversial topic in microfinance, and rightly so. The early IPOs of Compartamos and SKS Microfinance made a lot of money for investors and turbocharged the sector's growth, but also sparked hyper commercialization and debt crises that rocked the industry. But last year, two Indian MFIs had successful IPOs that have garnered a much more positive reception. We spoke with Daniel Rozas of the European Microfinance Platform and Anna Kanze of Grassroots Capital Management about how these four offerings differed, and what they could mean for the future of public investment in microfinance, in this podcast.
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- Investing
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Microfinance for Refugee Populations: What We’ve Learned and Where to Go Next
Currently, 21.3 million people are registered with United Nations agencies as refugees, and their financial inclusion has become a matter of importance and urgency. The Social Performance Task Force has been working to identify the refugees' needs and recently compiled some guidelines, “Serving Refugee Populations: The Next Financial Inclusion Frontier,” for financial service providers.
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- Finance