Payments News

On The Web

nbsp; nbsp;

Global

Huawei Cranks up Mobile Payments Effort to Diversify Its Operations

“Chinese telecommunications giant Huawei Technologies Co , beset by US trade sanctions that have weakened its core smartphone business , has started to ramp up operations of its mobile payments service after acquiring a nationwide licence. This development enhances Huawei’s position, according to analysts, to become one of the major third-party digital payments providers in […]
nbsp; nbsp;

Global

CBN Postpones ENaira Launch

“The Central Bank of Nigeria has announced the postponement of the launch of the country’s digital currency, eNaira. The bank had earlier said it would launch the currency today, October 1. It announced a postponement Thursday citing lined up events for the country’s 61st independence anniversary. The postponement came a day after a firm (ENaira […]
nbsp; nbsp; nbsp;

Global

More African Countries Dive Into a Cashless Future With New MTN, Flutterwave Deal

“MTN’s new deal with payments technology firm, Flutterwave is set to deliver cash to mobile wallets of more Africans via MTN Mobile Money (MoMo) with the planned expansion in Cameroon, Côte d’Ivoire, Rwanda, Uganda, and Zambia. This digital move is primed to plug millions of unbanked people in those countries into mainstream financial services and […]
nbsp;

Global

5 Charts Explain 10 Years of Mobile Money in Sub-Saharan Africa

“Two of Africa’s biggest startup stories of 2021 involve the billion-dollar valuations accorded to OPay, and Wave. Propelled by Chinese and American venture capital, each rose rapidly to own large shares of the financial services sector in Nigeria and Senegal respectively, primarily because of their sprawling mobile money operations.”

On The Wires

nbsp;

Companies

Western Union Joins Forces With Major Financial Institutions in Africa

“Western Union, a global leader in cross-border, cross-currency money movement and payments, is collaborating with major financial institutions in Africa, to enable millions of consumers to send and receive cross-border payments, quickly and reliably, 24/7. Customers of KCB Bank Kenya, the Diamond Trust Bank (DTB) and the Kenya Post Office Savings Bank (Postbank), can now enjoy […]
nbsp;

Global

Financial Services Are Experiencing Massive Adoption in the Philippines Through GCash

“To highlight the growth, the e-wallet company’s Assets Under Management (AUM) for its savings product, GSave, has grown to over PHP 9 billion, from PHP 5 billion in 2020 – almost double in just 6 months. GCash’s invest platform, GInvest, just launched last year with 4 new fund categories, has helped GCash immediately capture 70% of the domestic […]