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Unbanked consumers bypassing banks, going straight into mobile money, says Citigroup
Just as the mobile phone transformed the communications industry, it seems clear that mobile financial services are poised to transform the financial sector. Speaking on the second day of Mobile World Congress 2014 here in Barcelona, Michael Corbat, chief executive officer of U.S. multinational financial services company Citigroup, made the point that while more than 3 billion people have a mobile phone, only 2 billion people have a bank account.
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Mobile banking spreading to Asia and Latin America
Mobile money services for people without access to the traditional financial system are spreading at an increasing pace beyond Africa, according to a report released yesterday (24 February) at the Mobile World Congress 2014 in Barcelona, Spain.
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MTN and Ecobank offer Ghana subscribers access to cardless ATM services
MTN Ghana has partnered with Ecobank for the extension of cardless services to the bank’s ATMs across Ghana, allowing more than two million mobile money subscribers in the country to withdraw from Ecobank ATMs without using a card.
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Kenya’s Equity Bank Seeks Share of Telco Business
An Equity Bank branch in Dadaab. In a move likely to upset the applecart in the telecom sector, Equity Bank has applied for a license to operate a mobile telephone business.
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- Sub-Saharan Africa
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The Age of $25 Smartphones is Upon Us – and Mark Zuckerberg Wants to Give Them a Dial Tone
It’s day one of the Mobile World Congress, the big annual gathering of the mobile industry in Barcelona, and already the theme is clear: This is the year tech firms try to get the rest of the world online.
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- Technology
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- mobile finance
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China’s mobile payment war escalates
In the war between Tencent and Alibaba for China's emerging mobile payment market, cab-calling services have become the slightly unexpected battlefield.
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Tanzania: Mobile Money Tranfers Gaining Popularity
Financial transactions have always been a challenge for rural, poor people in Tanzania. M-Pesa, an immensely popular system of money transfer via mobile phone, has made life much easier.
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Banks in Zimbabwe face new threat from mobile money
LOCAL banks face a tough hurdle as the emergence of mobile money transfer services (MMTS) appears to pose a serious threat to their survival.
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