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What if America’s unbanked had mobile wallets?
Delivering financial services to the world's unbanked masses is not a topic that usually includes a developed economy like the United States. That's because Africa is the global leader in this area. Its mobile network operators are boosting their bottom lines and raising standards of living by offering mobile wallets to the unbanked -- making it possible to conduct a variety of transactions from person-to-person money transfers to bill payments and point-of-sale purchases.
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Reserve Bank of Zimbabwe moves to end “mobile war” between telecommunications players
THE Reserve Bank of Zimbabwe (RBZ) has directed mobile payment system operators that want to enter into exclusive arrangements with agents to seek permission as the central bank moves to end the “mobile war” between telecommunications players.
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Quick Wins in Mobile Money: How simple usability tweaks can significantly increase mobile money usage
Mobile finance has great potential to serve the poor, but many existing services are not designed around their needs, behaviors and capabilities. New research from Grameen Foundation reveals simple usability fixes that mobile money providers could incorporate to help their products better meet the needs of the BoP, and reach scale and commercial viability.
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Central Bank of Nigeria to extend cashless policy nationwide
The Central Bank of Nigeria Acting Governor, Dr. Sarah Alade, Wednesday said the bankers’ committee will not rescind on the plan to extend the cashless policy to other states in the country from July 1.
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- Sub-Saharan Africa
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BlackBerry plans mobile money services
Canadian smartphone maker Blackberry sees India as a key market for launching its mobile money services. The company plans to launch money transfer services on the Blackberry Messenger platform in partnership with local banks.
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No Silver Bullet: While microfinance alone won’t end poverty, it is making an impact – so let’s re-focus it to serve the poor
The debate about microfinance is getting a little tedious, says Freedom from Hunger CEO Steve Hollingworth. Instead of arguing over whether microfinance alone is lifting most clients out of poverty (it’s not), we should be having a transparent discussion of its strengths and limitations.
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- Impact Assessment
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Unbanked consumers bypassing banks, going straight into mobile money, says Citigroup
Just as the mobile phone transformed the communications industry, it seems clear that mobile financial services are poised to transform the financial sector. Speaking on the second day of Mobile World Congress 2014 here in Barcelona, Michael Corbat, chief executive officer of U.S. multinational financial services company Citigroup, made the point that while more than 3 billion people have a mobile phone, only 2 billion people have a bank account.
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Mobile banking spreading to Asia and Latin America
Mobile money services for people without access to the traditional financial system are spreading at an increasing pace beyond Africa, according to a report released yesterday (24 February) at the Mobile World Congress 2014 in Barcelona, Spain.
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