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Opinion: Can Mobile Wallets Pave the Way to a Cashless Economy in India?
It took Indian consumers decades to move from paper money to plastic money. But a switch from plastic money to no money is happening at a much rapid pace, thanks to mobile wallets, which allow you to make payments through your smartphone without actual money transaction.
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- Technology
- Region
- South Asia
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Beyonic Announces Partnership That Will Make It the Largest Mobile Money Aggregator in Africa
Beyonic (beyonic.com), a technology company that aims to eliminate the rampant use of cash in emerging markets, is announcing a partnership with Mobile Accord (mobileaccord.com) that will make Beyonic the largest mobile money aggregator in Africa. Beyonic currently operates in Uganda and Kenya, and will leverage Mobile Accord’s expertise in building mobile solutions and relationships with leading mobile carriers to bring Beyonic’s platform to 25 additional countries. Beyonic’s online platform enables businesses to quickly deploy, track and manage 2-way mobile money payments over multiple mobile carriers with one, easy-to-use system.
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- Technology
- Region
- Sub-Saharan Africa
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East African Community Members Move to Tame Mobile Money Fraud
East African nations are working to reach a common SIM card registration framework to help tame crime that is perpetrated using mobile phones.
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- Technology
- Region
- Sub-Saharan Africa
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Report: India Mobile Wallet Market to Reach US$ 6.6 Billion by 2020
According to TechSci Research report, "India Mobile Wallet Market Opportunities & Forecast, 2020", mobile wallet market in Indiais projected to reach US$ 6.6 billion by 2020. The mobile wallet market in India is projected to exhibit exponential growth during the forecast period, on account of rising smartphone penetration rate, growing mobile internet user base, and increasing government support. In addition, mobile wallet companies operating in India are also offering attractive deals and incentives to attract new users. In recent years, wallet companies have increasingly formed collaborations with service providers and financial institutions to offer a robust and seamless mobile wallet platform to the users. Usage of mobile wallet is growing across various applications such as money or banking transactions, mobile recharge & bill payments, ticket bookings, utility applications, etc. In addition, approval of payment bank licences of major companies such as Paytm, Vodafone, Airtel, etc. is projected to drive growth in the number of banking transactions through mobile wallet over the next five years.
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- Technology
- Region
- South Asia
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Equitel Share Rises as Safaricom’s Declines
Equitel, the telecommunications arm of Equity Group, grew its share of the mobile telephony market to 2.4 per cent in June from 1.9 per cent in March, fresh official data showed on Friday, as big players marginally lost ground.
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- Technology
- Region
- Sub-Saharan Africa
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Viewpoint: Bank-Telco Distrust Inhibits South Africa’s Financial Inclusion
Although partnerships between banks and telcos are essential in enabling financial inclusion to billions of people in Africa, the egos among the institutions are hindering such partnerships, especially in SA.
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- Technology
- Region
- Sub-Saharan Africa
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MoneyGram Expands Mobile Money Choices in Africa With Vodacom Partnership
MoneyGram, a global provider of innovative money transfer and payment services, and Vodacom, the leading telecom company in Tanzania, have announced that Vodacom subscribers can now receive money directly into their M-Pesa accounts through MoneyGram’s money transfer services.
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- Technology
- Region
- Sub-Saharan Africa
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Viewpoint: Why India’s Supreme Court Judgment on Aadhaar National IDs Calls or an Appeal
Mahatma Gandhi refused to join the Constituent Assembly that wrote our wonderful Constitution, but his advice to some of the members was, “Whenever you are in doubt, apply the following test. Recall the face of the poorest and the weakest man you may have seen, and ask yourself if the step you contemplate is going to be of any use to him. Will he gain anything by it? Will it restore him to control over his own life and destiny? Will it lead to swaraj for the hungry and spiritually starving millions?” I submit that the recent Supreme Court (SC) interim judgment on Aadhaar does not pass the Mahatma’s test and it must be appealed. All it needs is one small tweak.
- Categories
- Technology
- Region
- South Asia
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