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MetLife Foundation Is Proud to Present Its 2016 Annual Report
When MetLife Foundation launched our financial inclusion strategy in 2013, the financial inclusion industry was beginning to show that a well-coordinated global effort could produce impressive results. We saw that more than 2 billion people lacked access to formal financial services. But we also saw how steadily that gap was being closed.
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- Uncategorized
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Omise to raise $19M in first cryptocurrency sale from a major VC-backed startup
Kik has raised over $120 million from investors to date and it claims 300 million registered users, making it the most established company to throw its hat in the ICO ring thus far, but it is about to be beaten to the punch by Omise, a Thailand-based company that provides Stripe-like payment features in Japan and Southeast Asia.
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- Technology
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For India’s mobile wallet players, it’s survival of the fittest, not the fastest
"We have doubled in last seven months," says Upasana Taku, cofounder of the Gurgaon-based firm, which claims to have 55 million users and over 1.5 million merchants. We have a field force of thousand people, each acquiring 10 merchants every day, claims Taku.
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- Uncategorized
- Region
- South Asia
- Tags
- digital payments, fintech
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Four Ways Digital Finance Can Prepare for the Next Wave of Mobile Money Disruption
The mobile money and agent banking markets of the developing world are due for disruption, so digital finance providers should start preparing. A new research paper from the Helix Institute of Digital Finance offers tips on preparing for the new wave, plus some advice: Focus on data, "the common denominator and foundation for all financial technology companies."
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- Technology
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Indians are using mobile wallets more but for smaller purchases
As the Indian economy recovers, mobile wallet payments are continuing to accelerate. Their transaction value of over $3.6 billion in the first quarter of 2017 marked a 60% increase from the previous quarter, according to a new report from RedSeer Management Consulting.
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- Technology
- Region
- South Asia
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Safaricom sees lingering break-up threat
Safaricom is still facing the threat of being broken up as the Kenyan regulator weighs up a report on dominance in the country’s telecommunications industry, CEO Bob Collymore said. East Africa’s biggest company by market value may resort to court action to prevent it from being split, Collymore, 59, said in an interview Wednesday in the capital, Nairobi
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- Uncategorized
- Region
- Sub-Saharan Africa
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Fintech’s Coming to Trounce India’s Banks
India's banks, which still dominate the country's financial landscape, appear to have hardly a kick left in them. Stressed assets without any loan-loss cover now exceed $96 billion, McKinsey & Co. said last week. An overwhelming 91 percent, or $87 billion, of the provisioning gap is at state-run lenders, whose net worth would be wiped out if they took the hit on their capital.
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- Technology
- Region
- South Asia
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- fintech, mobile finance
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Paytm to start India payments bank operations from May 23
The company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity -- PPBL -- under the payments bank licence awarded to a resident Indian, Vijay Shekhar Sharma, the founder of One97 Communications that owns Paytm.
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- Technology
- Region
- South Asia
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