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Supporting the ‘Safe Journey’: How Mobile Tech is Making Migration More Secure and Less Costly
In Nepal’s rural areas, foreign employment in wealthy economies like Qatar, Saudi Arabia and South Korea can be a huge economic opportunity. But migrants to these countries are often exploited by employment brokers and others, who take advantage of the complexity of the migration process to charge high fees for job placements or loans. Benjamin Lokshin at the Asia Foundation discusses the foundation's innovative 'Shuvayatra' platform, which leverages mobile tools to help bridge the gaps between migrants and providers of important services.
- Categories
- Finance
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PayPal Reaffirms Its Commitment To Financial Inclusion
“We firmly believe as a company that everyone should have access to affordable, convenient, secure and low-cost financial services,” Schulman said, noting this vision does not — as some have speculated in the past — speak to an overwhelming desire on PayPal’s part to become a bank or to try to replace bank-based services.
- Categories
- Finance
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Mobile money increasing healthcare access
With access to healthcare remaining a major problem in Sub-Saharan Africa because of costs, the continent could benefit from using services such as mobile money and savings.
- Categories
- Finance, Health Care
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The uneasy relationship between online betting and mobile money transactions
The combined size of the gambling industry in Kenya, Nigeria, and South Africa is projected to be worth USD$37 billion in 2018. In Kenya alone, a 2017 study found that an estimated 2 million individuals engage in mobile-based sports betting.
- Region
- Sub-Saharan Africa
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Is Universal Financial Access Still Possible?
The most recent Global Findex survey shows 515 million adults have opened bank accounts since 2014. While that's good progress, Daniel Monehin, who heads Financial Inclusion for Mastercard, points out that owning an account is just the first step towards financial inclusion - the real value comes with being able to use it in a safe and convenient way. That's why universal financial access must go hand-in-hand with efforts to drive usage, writes Monehin, who urges the sector to focus on people, products and partnerships.
- Categories
- Finance, Technology
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A Test Case for Digital Leap-Frogging: What the Financial Inclusion Community Can Learn from Vietnam
With its rapid economic expansion, large unbanked population, high mobile penetration and progressive regulations, Vietnam has the potential to leap-frog over brick-and-mortar banking and arrive directly at the forefront of digital finance. Krishna Thacker of MetLife Foundation in Asia profiles an emerging innovator in the country's mobile payments space, and explores lessons learned in driving the uptake of digital financial services.
- Categories
- Finance, Technology
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Nigeria’s mobile money scheme crawls at 1% penetration
After about five years of operation in Nigeria, mobile money has only been able to attract just one per cent penetration.
- Categories
- Finance
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China’s VC firm LUN Partners leads $4.5m Series B in fintech firm MFS Africa
The funding round makes MFS Africa, operator of the largest digital payments network in Africa, the first African fintech company to receive funding from a China-based VC, according to a statement released on Wednesday.
- Region
- Sub-Saharan Africa
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