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Steep fees call into question bitcoin’s promise for the underbanked
Abra set out in 2014 to make mobile money movement cheap and fast worldwide, using the bitcoin network as rails.
But lately the fees for transferring value on that network have risen, creating a predicament for the startup: charge more for sending funds with its mobile app, or eat the fees.- Categories
- Technology
- Tags
- fintech
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FINCA gears up for digital disbursement solutions in Pakistan
The bank will use gadgets to get all necessarily details of the client via biometric verifications, thereby reducing the loan-processing time to within 48 hours. Apart from gadgets, the bank’s newly launched mobile wallet, SimSim appears to be the management’s hope to increase foothold in rural localities.
- Categories
- Technology
- Region
- South Asia
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Runaway Trains of Thought: How Boosting Cognitive Bandwidth Can Fight Poverty
Cognitive bandwidth allows humans to reason, focus and resist impulses – and unfortunately, we have only a limited amount of it. Everyone struggles to make decisions when they run low on cognitive bandwidth, but the added stress of poverty consumes more of it. Creating simple ways to free this bandwidth, whether through money or time, can elevate helpful anti-poverty programs into transformative ones, according to ideas42.
- Categories
- Health Care
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In Urban China, Cash Is Rapidly Becoming Obsolete
Almost everyone in major Chinese cities is using a smartphone to pay for just about everything. At restaurants, a waiter will ask if you want to use WeChat or Alipay — the two smartphone payment options — before bringing up cash as a third, remote possibility.
- Categories
- Uncategorized
- Region
- Asia Pacific
- Tags
- digital payments, fintech
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New Report Details How Legacy Financial Institutions Are Deepening Financial Inclusion Through Fintech Partnerships
The report, "How Financial Institutions and Fintechs Are Partnering for Inclusion: Lessons from the Frontlines" is based on 24 in-depth interviews with firms and experts from around the world, and highlights 14 partnerships in as many countries.
- Categories
- Uncategorized
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Mobile money is only just starting to transform some of Africa’s markets
Mobile money adoption in Africa outpaced growth in the rest of the world, with over half of all services globally and more than 40% of adults in active use.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- fintech, remittances
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Visa chasing Indian payments market as mobile money gains traction
Kelly stated during the company’s Q3 fiscal earnings call that while India presented massive opportunity, the firm faced strong competition from companies offering more innovative solutions that Visa’s typical rivals.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments, fintech
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Finca launches Pakistan’s first ever digital wallet
SimSim, a mobile payment platform, was introduced in partnership with Finja – an internationally funded FinTech startup – at a launch event Thursday night at Mohatta Palace, Karachi. The event was attended by major industry stakeholders, government officials, artists, tech enthusiasts and media figures.
- Categories
- Technology
- Region
- South Asia