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Kenya: Big Banks, Telcos Slow to Heed Order on Fees Disclosures
Big commercial banks and telecommunications firms are lagging behind in implementing a directive to disclose all fees incurred in mobile money transactions. The Competition Authority of Kenya (CAK) says that eight companies are thus far making these disclosures to customers.
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- Technology
- Region
- Sub-Saharan Africa
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Airtel launches payments bank in India
Bharti Airtel today said it will invest Rs 3,000 crore in its payments bank, as it became the first off the block to launch the new model of banks aimed at taking financial services to the millions who are outside the banking system.
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- Uncategorized
- Region
- South Asia
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How Paytm is brazenly piggybacking on banks and telcos in India
It should be galling for telecom service providers like Airtel and Vodafone to find Paytm (used as a metaphor for mobile wallet service providers) using the mobile numbers of their customers to provide mobile wallet services to them.
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- Technology
- Region
- South Asia
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Central Bank of Nigeria Insists On Bank-Led Mobile Banking
The Central Bank of Nigeria (CBN) has reaffirmed its preference for a bank-led digital financial services rather than what is obtained in other climes where telecommunications companies are the major providers of such services.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Telcos to bankroll Zimbabwe’s Health Fund
Zimbabwe telecommunications companies are in for another fiscal whammy - a new 5 cents levy on every US$1 worth of airtime and data top ups which will go into a Health Fund to resource the country's ailing health delivery sector.
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- Health Care, Technology
- Region
- Sub-Saharan Africa
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Mobile wallet firms see positive impact from new authentication rule in India
The removal of two-factor authentication for card transactions below Rs2,000 has made it easier for credit and debit card users, but digital wallets do not have much to worry from the change, industry executives and analysts said.
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- Technology
- Region
- South Asia
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Opinion: The Achilles’ Heel For Payments Banks And Financial Inclusion
The RBI's latest operating guidelines for payments banks permit payments banks to "use KYC done by the promoter / promoter group entity", if it "is of the same quality as prescribed for a banking company". This will allow payments banks to leverage their existing telco customer base, and (where KYC has been done to prescribed standard) send out SMSs offering to open an account at the click of a button.
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- Technology
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Kenya Telcos, Vendors Now on the Spot for Hidden Costs
Many Kenyans have come to value the convenience of mobile money payments, but a consumer organisation has raised the red flag over the hidden costs.
- Categories
- Technology
- Region
- Sub-Saharan Africa