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Government departments lap up digital payment solutions in India
Online payment service providers and mobile wallet companies have recorded a huge surge in queries and sign-ups from various governmental departments across sectors such as education, health and power, in the last two months. The tie-ups come at a time when these departments have been instructed to carry a majority of their transactions through digital modes to eliminate corruption and reduce the dependence on cash.
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- Technology
- Region
- South Asia
- Tags
- fintech
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Paytm Is Accelerating Its Banking Push in India
Indian mobile wallet firm Paytm plans to launch its banking operations within two months, according to Bloomberg.
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- Technology
- Region
- South Asia
- Tags
- fintech
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Safaricom Extends Lead on Mobile Money Transfers
Safaricom has expanded the value of mobile money transfers under its M-pesa platform by 4.45, latest industry data shows, as the company continues to lead in the mobile money market.
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- Technology
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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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.
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- 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.
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- 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.
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- 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.
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- Technology
- Region
- North Africa & Near East