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New GSMA Study Projects Almost One Billion Mobile Subscribers India 2020
India is expected to see a significant uptake in mobile subscriptions, broadband and connectivity by 2020, marking a period of rapid development of the country’s mobile economy, according to a new GSMA Intelligence study published today. The new report, ‘The Mobile Economy: India 2016’, noted that at the end of June 2016, 616 million unique users had subscribed to mobile services in India, making it the second-largest mobile market globally, with almost one billion unique mobile subscribers1expected by 2020. India also overtook the United States in 2016 to become the world’s second-largest smartphone market with an installed base of 275 million devices.
- Categories
- Technology
- Region
- South Asia
- Tags
- fintech
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What Digital Finance Means For Emerging Economies
Financial services are the lifeblood of an economy, enabling households and businesses alike to save, invest, and protect themselves against risk. Yet in many emerging economies today, the majority of individuals and small businesses lack access to basic savings and credit products, which hinders economic growth and perpetuates poverty.
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- Uncategorized
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Center for Financial Services Innovation Unveils Framework for Responsible Industry-Wide Sharing of Consumer Financial Data
The Center for Financial Services Innovation (CFSI) today released its guide for the responsible sharing of consumer financial data: "Consumer Data Sharing Principles: A Framework for Industry-Wide Collaboration."
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- Uncategorized
- Tags
- fintech
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Chemonics and BanQu Partner to Test Blockchain’s Potential to Eliminate Poverty and Improve Aid Effectiveness
On October 17, 2016, international development consulting firm Chemonics and technology company BanQu established the Blockchain for Development Solutions Lab. The lab represents the first concerted effort by a development company to build, test, and scale blockchain solutions to reduce poverty and increase aid effectiveness.
- Categories
- Technology
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Ecobank Launches Ecobank Mobile App to Transform Banking in Africa
Ecobank (Ecobank.com) has launched the Ecobank Mobile App, an instant and convenient way of banking via the mobile phone. It is the first unified app delivered by any institution for use in 33 countries. Group CEO, Ade Ayeyemi unveiled the new App at a large product launch in Lagos, which brought together a wide range of customers, including students, various professionals, traders and transporters. Ecobank board members, shareholders, staff and media were also present at the event.
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- Technology
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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Uganda: Shs1 Billion Loaned Through Mobile Phones
In just two months, the mobile micro-lending and saving platform, MoKash, has been adding an average of 15,000 customers per day, reaching 920,000 over the period. Launched in August and operated by MTN Uganda and the Commercial Bank of Africa (CBA), MoKash allows mobile phone owners to save and apply for micro-loans. This is the first platform operated by both a telecom company and bank that could carry out the function of a commercial bank.
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- Technology
- Region
- Sub-Saharan Africa
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Safaricom CEO Warns His “Clumsy” Product Needs to Diversify or Risk Dying
The future of M-Pesa, the world’s leading mobile money-transfer system, lies in transforming the service’s “clumsy” technology into something more efficient, innovative, and collaborative. At least that’s the vision spelled out by the company’s CEO.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Equitel Now Kenya’s Second Biggest Mover of Mobile Money
The battle for mobile phone money transactions business is changing in a manner that may cause various players to stop and take notice.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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