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The Curious Case of Myanmar: Can the Country Leapfrog to Digital Financial Inclusion?
Fueled by years of repressed demand, cheap Chinese phones, softening regulations and an aggressive push by the country’s mobile network operators, Myanmar leapfrogged from practically zero phones to almost exclusively smartphones. Looking at this stark contrast, a natural question arises – can Myanmar leapfrog from financial exclusion to "digital" financial inclusion, just as it did in telecom?
- Categories
- Finance, Technology
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Demonetization’s impact on domestic remittances
Trends in domestic remittances before and after demonetization would provide an insight into the impact of the policy on incomes, liquidity, as well as choice of digital channels by members of the informal sector. Such data is, naturally, not yet available. However, there is a fascinating category of firms whose experience during this period can provide important perspectives.
- Region
- South Asia
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Telcoin wants to bring cryptocoins to the ‘unbanked’
There were more than 900 cryptocurrencies floating around the planet midway through the year, with a jumble of serious and weird names (InsaneCoin. Cabbage. VGINA). And now here’s another one: Telcoin.
- Categories
- Finance, Technology
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GSMA launches industry guidelines on international remittances through mobile money
Because of its reach and growing use among underserved people, mobile money is uniquely positioned to transform formal remittance markets and to advance financial inclusion.
- Categories
- Finance
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It’s Not Just About Price: Innovative Solutions to Africa’s Remittances Problem
Through remittances, millions of migrants in developed countries support the basic needs of loved ones in their home countries. But with limited alternatives available, substantial costs are incurred – particularly in Africa where the average cost of sending money is 9.8 percent. Barry Cooper at Cenfri looks at some innovations that have the potential not only to decrease high fees, but to increase access beyond urban areas.
- Categories
- Uncategorized
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Huge remittances milestone for Africa as TerraPay gets South Africa license
A mobile payments and remittances startup called TerraPay may have achieved what could turn out to be a huge industry milestone in the remittances space in Africa. The startup announced today that it has secured a license from the Reserve Bank of South Africa to conduct low-value international money transfers in the country.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Fintech can cut remittance costs to a fraction
An estimated 800m people around the world are now directly reliant on remittances. According to research by the International Fund for Agricultural Development, global remittances to developing countries increased by 51% between 2007 and 2016 to reach almost half a trillion dollars a year – although the number of migrant workers from the countries in question rose by only 28% over the period in question.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- fintech, remittances
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National Bank of Kenya and WorldRemit’s join monetary forces
The newly-formed allegiance sees a partnership which will enable Kenyans living abroad to make instant transfers to Kenya.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa