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The Superplatforms are Coming … And They Will Transform Financial Inclusion
With their big brands, big budgets and big data, superplatforms like Google, Amazon, Facebook and Alibaba already know more about most banks’ customers than the banks themselves. As these internet giants make increasing inroads into financial services, what are the implications for low-income customers – and their existing providers? David Porteous of BFA and Olga Morawcynski of MasterCard Foundation explore how these platforms are reshaping the face of financial inclusion around the world.
- Categories
- Finance, Technology
- Tags
- data, financial inclusion, fintech
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Chinese retailers warned over mobile money choice
In a post on social media site WeChat, the authority said refusing to accept cash could exclude people unfamiliar with mobile and electronic alternatives, along with those unable to access these services due to living outside major urban areas.
- Region
- Asia Pacific
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Nigeria’s Hello Tractor in AI, blockchain partnership with IBM Research
Nigerian agri-tech startup Hello Tractor has partnered IBM Research to pilot an agriculture digital wallet and decision-making tool that provides demand and supply visibility for farmers, tractor fleet providers and banks.
- Categories
- Agriculture, Technology
- Region
- Sub-Saharan Africa
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As regulators turn sights on fintech, a Nigerian startup is first to secure credit rating
Indeed, payment startups facilitating online transactions in key African economies are increasingly getting validation with global payment giants including Mastercard, Stripe and Visa paying closer attention and investing in Nigerian fintech companies.
- Categories
- Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech, mobile finance, startups
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Kenyan Government Plans Interoperable Mobile Money Wallet Amid M-Pesa Crisis
“It is becoming clearer that interoperability of mobile money will have to be seamless,” said CA Director-General Francis Wangusi in an interview with The Standard.
- Categories
- Finance, Technology, Telecommunications
- Region
- Sub-Saharan Africa
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Brazilian Fintech Nubank Launches Debit Card To Reach 120M Clients
Brazilian fintech Nubank has launched a debit function for its card offering as well as the ability to withdraw cash from ATMs, in a move that aims to extend its reach to as many as 120 million customers.
- Categories
- Finance
- Region
- Latin America
- Tags
- fintech
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East Africa region slips in financial inclusion
Globally, Uganda and Kenya have dropped sharply among the 55 surveyed countries, the report shows.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Vietnam strides towards cashless society with e-wallets boom
Vietnam is on the cusp of a mobile payment revolution, and the key factor to raising adoption is whether the e-wallets could become ubiquitous locally.
- Categories
- Finance
- Region
- Asia Pacific