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Global Remittances Conference has named Africa as the most expensive place to send money globally
“The absence or weakness of a digital payments infrastructure and acceptance network, a financially included population, and/or an identification system means that many of the traditional acceptance services, such as terminating into a bank account or mobile wallet, are not always available,” the report says.
- Categories
- Financial Inclusion
- Region
- Sub-Saharan Africa
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Huawei Agrees to Deal to Help African Expats Send Money Home
The deal will let Huawei and WorldRemit tap into growing demand for money transfers from Africans living abroad using mobile-payments services, which are popular in places where banks are scarce or unreliable.
- Categories
- Financial Inclusion, Technology
- Region
- Sub-Saharan Africa
- Tags
- Africa, migrants, mobile money, remittances
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Kiva Launches A Fund For Refugees And You Can Help
It may not seem so now, but whether people would loan money to a stranger was a pretty big question when Kiva.org started in 2005. One billion dollars later, the answer is a resounding yes.
- Categories
- Investing
- Tags
- Kiva, microfinance, microlending, migrants, migration, refugees
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Mobile money flourishing in Myanmar
Young migrant workers throughout the country use mobile money to make remittances to families back home. In Myanmar, only 20% of the population has a bank account. Thus, unbanked people often just carry stacks of cash when returning home.
- Categories
- Financial Inclusion, Technology
- Region
- Asia Pacific
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A Demographic Time Bomb: The Urgent Need to Prepare Undocumented Hispanic Immigrants for Retirement
The United States is home to some 11.3 million undocumented immigrants, mostly Latin American. These immigrants are aging, and whether they stay in the U.S. or return to their home countries, many are woefully underprepared for the financial burdens of retirement. The consequences of ignoring their retirement savings needs are significant – but so are the opportunities to reach them with financial products.
- Categories
- Financial Inclusion, Investing
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Why China’s Fintech Surge is Only Just Beginning
In China, MetLife Foundation's newest approach to improving the financial health of everyday consumers is through harnessing the power of social entrepreneurs. Next month the foundation will invite social enterprises (nonprofit and for-profit alike) across China that are focused on increasing access and use of financial services among low- to moderate-income people to enter their products to participate in a new competition. Why China is booming for fintech and what's next.
- Categories
- Financial Inclusion
- Tags
- Accion, banking, fintech, migrants, mobile money
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