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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.
- Categories
- 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.
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- Technology
- Region
- Sub-Saharan Africa
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Uganda: Shs1 Billion Loaned Through Mobile Phones
In just two months, the mobile micro-lending and saving platform, MoKash, has been adding an average of 15,000 customers per day, reaching 920,000 over the period. Launched in August and operated by MTN Uganda and the Commercial Bank of Africa (CBA), MoKash allows mobile phone owners to save and apply for micro-loans. This is the first platform operated by both a telecom company and bank that could carry out the function of a commercial bank.
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- Technology
- Region
- Sub-Saharan Africa
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One of India’s Leading Handset Makers Enters Mobile Wallet Business
Intex Technologies, one of the leading Indian handset player said it has partnered with Tata Teleservices subsidiary mRUPEE to launch their first ever mobile wallet.
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- Technology
- Region
- South Asia
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Operators Want Telco-Led Mobile Money Initiative in Nigeria
Telecommunications service providers have renewed clamour to lead mobile money initiative in Nigeria on the basis that the current model has not been impactful on the economy.
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- Technology
- Region
- Sub-Saharan Africa
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Banks Having More Luck Than Telcos in Cracking South Africa’s Mobile Money Market
While South African telcos have found the going tough with their mobile money offerings, local banks are singing a different tune.
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- Technology
- Region
- Sub-Saharan Africa
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GSMA Publishes Report Detailing the Mobile Industry’s Impact in Achieving the Sustainable Development Goals
At today’s United Nations Private Sector Forum, the GSMA unveiled the ‘2016 Mobile Industry Impact Report: Sustainable Development Goals’, a ground-breaking study that provides a current assessment of the mobile industry’s impact in achieving the Sustainable Development Goals (SDGs), and outlines future actions that will expand and strengthen that impact. The GSMA also announced several industry commitments, including actions to elevate the focus on humanitarian assistance, as well as a partnership with the UN to drive ongoing engagement around the SDGs across the mobile industry and adjacent sectors.
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- Technology
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Virtual Network Operators in India Band Together in Attempt to Develop $4 Billion Industry
Virtual Network Operators Association of India (VNOAI) has been incorporated with the objective of promoting activities geared towards the development of Virtual Network Operators industry, US$ 4 billion business opportunity in India.
- Categories
- Technology
- Region
- South Asia
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