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Zimbabwe is pushing for mobile money interoperability as its cash problems linger
The idea of interoperability in simple terms is to enable a mobile money customer on one network’s proprietary system to send or receive money from another customer on a different network. Regulators typically want this to help boost competition, drive financial inclusion and encourage consumer usage. Network operators are less keen due to the short to medium costs as well as the fact it it reduces the need for customers to own multiple phone services to move money around.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Super Platforms in Africa: Not if, but When
Imagine low-income, rural entrepreneurs throughout Africa actively leveraging super platforms like Facebook and Alibaba to conduct all their business interactions, from customer payments to orders from suppliers. This scenario isn't that far-fetched, says BFA's Yanina Seltzer. She explains why the march of the super platforms into Africa is inevitable – and what it will mean for financial services providers, regulators, and small and medium enterprises.
- Categories
- Finance, Investing, Technology
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Pakistan Post, National Bank of Pakistan sign a Memorandum of Understanding to boost digital financial services
Pakistan Post and National Bank of Pakistan signed a Memorandum of Understanding (MoU) here at ECO Postal Staff College Auditorium to boost Digital Financial Services in the country through a huge network of 12,000 Post Offices countrywide as well as to achieve the target of the State Bank of Pakistan for strengthening National Financial Inclusion Strategy extending Digital Financial Services to 50% population of Pakistan by the year 2020.
- Categories
- Finance
- Region
- South Asia
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Google’s Tez payments app now lets users handle their utility bills and more
Google’s Tez payment service in India has gotten a major update that allows users to pay their utilities and other bills via the app.
- Categories
- Finance
- Region
- South Asia
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China’s Impressive Trajectory Toward Universal Financial Inclusion
China has achieved remarkable success in financial inclusion over the last 15 years. Traditional financial service providers have dramatically increased the reach of the formal financial sector, including through the world’s largest agent banking network. China has also been a leader in the fintech revolution, with new technology-driven providers transforming how Chinese consumers make payments, borrow, save, insure themselves against risk, and invest.
- Categories
- Finance
- Region
- Asia Pacific
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What’s Ailing Sri Lanka’s Microfinance Industry – And Could Fintech Provide a Solution?
In Sri Lanka, microfinance interest rates can be as high as 72 percent – outpacing even loan sharks, whose rates average around 40 percent. This often traps clients in severe debt and perpetuates cycles of poverty – while MFIs themselves often enjoy high profits, low expenses and lack of competitive pressure. Suthaharan Perampalam and Mithula Guganeshan of Sparkwinn explore the potential of fintech (and better regulations) in changing this dynamic.
- Categories
- Finance, Impact Assessment
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Harnessing the Potential of Digital Finance for Women
Sixty-two percent of the world’s adult population now has access to a bank account. But in spite of this progress, gender gaps in digital and overall financial inclusion are increasing, and there's a growing awareness that access alone doesn't equal empowerment. Madji Sock and Katrina Kwan of Dalberg Advisors discuss strategies to close this growing gap and ensure that women are not left behind by the digital revolution in financial services.
- Categories
- Finance
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Mercy Corps and Mastercard Take Fintech to Farmers
Humanitarian agency Mercy Corps is partnering with Mastercard Foundation to push for adoption of technology to benefit millions of small-scale Kenyan farmers for better food production and ending perennial shortages.
- Categories
- Agriculture, Finance
- Region
- Sub-Saharan Africa
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