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New mobile payments facility to help enhance financial inclusion in Rwanda
Rwanda’s cashless economy push has received a timely shot as regional lender KCB Bank Rwanda prepares to launch a new payment system that is tipped to expand digital and mobile banking services across the country.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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It Pays to Use Prepaid Cards to Deliver Services to MFI Clients: Study
There is good scope for the use of prepaid cards for delivery of value-added financial services to the clients of micro-finance institutions (MFIs), says a new study.
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- Technology
- Region
- South Asia
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Banks vs e-Wallets: Who Is Winning in Cashless India?
When two of the biggest banks in the country resist wallets from fintech start-ups, you know a few things are simmering. First, SBI disallowed its net banking users to top up third party wallets and next, ICICI blocked transactions on PhonePe, a Flipkart managed wallet that was launched in partnership with YES Bank - PhonePe allows users to link bank accounts to the smartphone through the National Payments Corporation of India's encrypted software.
- Categories
- Technology
- Region
- South Asia
- Tags
- fintech
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Nigeria: Central Bank Bars Banks From Virtual Currency Transactions
The Central Bank of Nigeria, CBN, Tuesday, banned banks from all transactions in bitcoin and other virtual currencies. A circular signed by the apex bank's director, financial policy and regulation department, Kelvin Amugo, stated that the move was necessitated by money laundering and terrorism financing risks inherent in operations of virtual currencies.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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Mastercard helps expand financial inclusion in Pakistan by optimizing National ID cards with e-payment functionality
Mastercard, a leading technology company in the global payments industry, announced a strategic collaboration with Pakistan’s NADRA Technologies to optimize National ID cards with electronic payments functionality. The move will allow Pakistani citizens to carry out financial transactions and receive government disbursements by utilizing the unique 13-digit identification number of their identity card.
- Categories
- Technology
- Region
- North Africa & Near East
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New CGAP Survey Finds Technology Alone Cannot Deliver Successful Interoperability in Digital Financial Services
No matter how well designed the technology, interoperability in digital financial services will not reach its full potential unless the right business structure and incentives are in place, CGAP found in its new report, Digital Finance Interoperability and Financial Inclusion: A 20-Country Scan.
- Categories
- Technology
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As India Goes Cashless, Both E-Money Stocks and Bitcoin Benefit
India's Prime Minister Narendra Modi announced on November 9, 2016, that 500 and 1000 rupee notes would be taken out of circulation in an effort to reduce corruption, terrorism, black money and counterfeiting, and will no longer be accepted as legal tender in India. His surprise announcement caused chaos in the country as citizens scrambled to adjust to a new monetary norm that banned about 85 percent of cash in circulation.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- fintech
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MobiKwik, Paytm Go Multilingual As e-Wallets Tap Users in India’s Hinterland
Majority of the mobile wallets companies are launching multilingual interfaces as focus shifts to make digital payments and commerce more inclusive and widespread by enabling users to transact in their native languages following demonetisation.
- Categories
- Technology
- Region
- South Asia