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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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Mastercard Commits to Financially Including Over 150,000 Kenyan Merchants With Masterpass QR
Mastercard commits to empowering over 150,000 Micro, Small and Medium Enterprises (MSME) in Kenya within 2017 by giving them access to Masterpass QR. The mobile driven, Person-to-Merchant payment solution will be introduced through various financial institutions and other partners in the market from February onwards.
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- Technology
- Region
- Sub-Saharan Africa
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Using Evidence to Optimize Savings and Loan Payment Channel Choices
The OPTIX team at BFA, along with partner Banco WWB in Colombia, set out to learn more about various client interactions with financial service providers; for instance, why do clients choose a certain transaction location? The work is designed to help Banco WWB strengthen their business while creating a more compelling portfolio of services for their customers’ needs.
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- Finance
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How the mobile can power digital India
The call for digital cash, or going cashless, has never been as loud and clear as it has been in the past two months across India. One of the positive impacts of demonetisation has been the exploration of alternate methods of payment such as credit and debit cards, online money transfer and payments, use of e-wallets, digital transaction apps such as BHIM, etc. The various means of digital payments have made life a little easier.
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- Technology
- Region
- South Asia
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MasterCard Partnering with Kenyan Government to Roll Out New Payment Card
Mastercard is partnering with the local government in Kenya to help address the growing problem of citizens having to move from place to place in order to access and pay for government services.
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- Technology
- Region
- Sub-Saharan Africa
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Samsung to launch mobile payment wallet Samsung Pay in India soon
South Korean tech giant Samsung is planning to launch its mobile payment wallet in India in the first half of 2017, media reports said.
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- Technology
- Region
- South Asia
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Farmers’ credit rating app startup gets Safaricom funding
FarmDrive, a startup firm which helps farmers gain access to cheap credit, has received an undisclosed capital injection from Safaricom’s Spark Fund.
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- Technology
- Region
- Sub-Saharan Africa
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Social Business Roundup: Laureate Education Goes Big, Omidyar Gives Directly, Surdna Foundation Embraces Impact Investing
In social business news this week, the world's biggest for-profit college company raised $490 million in its public debut, Omidyar Network gave a $493,000 grant to support GiveDirectly's mission of sending unconditional cash transfers to the poor, and the Surdna Foundation announced plans to dedicate 10 percent of its endowment ($100 million) to a new impact investing fund. Read about these developments and more in our news roundup.
- Categories
- Education, Health Care, Investing, Social Enterprise
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