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InVenture raises $1.2-million to help serve emerging markets’ underbanked
InVenture is a credit score for anyone with a mobile phone. In order to expand its phone-based personal finance software, InSight, which generates financial identities and credit scores for the underbanked in South Asia and Africa, the startup has recently raised US$1.2-million.
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- Technology
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MasterCard prepares for African growth
MasterCard was eyeing a slice of the expected exponential growth from the emerging African market in coming years, particularly as mobile payments surged, Aaron Oliver, the head of emerging payments in the Middle East and Africa for the multinational firm, said yesterday.
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- Uncategorized
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Best Practices in Mobile Finance: Four fundamental service features that can have a positive impact on people’s lives
There is a growing amount of evidence on how best to provide financial services to the poor. The Gates Foundation’s Jake Kendall and Rodger Voorhies highlight some emerging trends from the research that they think constitute “best practices” for the field.
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- Finance, Telecommunications
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Kenya’s Safaricom Plans to Disrupt Mobile Market with Contactless Transactions
For a successful deployment, Safaricom is expected to build an NFC infrastructure countrywide, just like it did with its mobile money agents so as its subscribers can pay for services and buy goods anywhere in the country.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Uganda Telecom to Upgrade Mobile Money Platform
Uganda telecom, a partially state owned telecommunication service provider, has signaled it will embark on upgrading its mobile money banking platform, M-Sente, in the next two weeks to enable their customers enjoy the service flawlessly.
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- Uncategorized
- Region
- Sub-Saharan Africa
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PRESS RELEASE: Western Union Expands Mobile Money Transfer Network in Nigeria
New relationship with Paga gives more than 1.2 million Paga subscribers access to Western Union services.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Why Insurers are Partnering with Telcos to Bring Microinsurance to the BoP: CGAP report explores the status of this young industry
Recent growth in microinsurance has come mostly in Africa and mainly in low-income countries, according to a recent report from CGAP. These products are small-scale insurance policies reliant on mobile phones for some combination of sign-up, payment and administration. Providers have been experimenting to learn what works and why.
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- Technology
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OPINION: Bitcoin and mobile payments: Don’t get your hopes up
Before there were cell phones, there was the dream. You know the dream, the dream of techno-optimists everywhere: Get rid of the wallet. Make money electronic. Get rid of those inconvenient technologies like cash and credit cards, and put it all on your phone. Pay by punching a key on your phone. Like in Japan! And cut out a few middlemen while we're at it. Admit it, we've all fantasized about it.
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- Uncategorized