On The Web

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Global

Nippon Biodiesel developing mobile money project to help up to 5 million farmers

August 17 2018

• in
• Financial Inclusion
• Mobile commerce

“In India, the Nikkei reports that Japan’s Nippon Biodiesel is developing a mobile money system that will allow villages in India and later in Sri Lanka and Mozambique collectively sell their crops as well as buy inputs such as fertilizers.”

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Use

Achieving Development and Acceptance of an Open and Inclusive Digital Payments Infrastructure

August 17 2018

• in
• Financial Inclusion

“Developed for financial inclusion policymakers and payment service regulators, (the report)  proposes policy options and practical actions that can help moving toward developing open and inclusive digital payment infrastructures, while also incentivizing the acceptance and use of digital payments.”

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Companies

How To Link PayPal To Mpesa

July 2 2018

• in
• Financial Inclusion
• Mobile Payments
• PayPal

Anyone transacting online frequently knows too well that the knowledge of how to link PayPal to Mpesa is in Kenya would be very useful to them. Apart from the convenience of not having to visit the bank every time you need to collect your cash, the direct transaction takes a shorter period of time compared […]

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Companies

PayPal CFO Sees Opportunity In Consumers Who Have Mobile Devices, But Not Bank Accounts

May 17 2018

• in
• Financial Inclusion
• PayPal

“PayPal is doubling down on the idea of helping the “unbanked” — people who don’t use typical financial services — by chasing one key group, CFO John Rainey told CNBC on Wednesday. “There’s something like two billion people across the world that don’t have things that you and I take for granted – a checking […]

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Bill Gates Foundation eyes Kenya with software that allows mobile money interoperability

September 7 2018

• in
• Financial Inclusion

“The Bill and Melinda Gates Foundations is seeking to launch a free software that will enable Kenyans transact money across different banks and telcos. The Business Daily reports that the foundation plans to hold talks with Kenya’s Central Bank in order to rollout the software known as Mojaloop. The software will be expected to connect the six mobile money […]

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Gates and Bezos back UK startup bidding to end payday poverty cycle

September 11 2018

• in
• Financial Inclusion

“A major reason for so many people struggling towards the end of the month is that the vast majority of Brits – unlike Americans – are paid monthly. Wagestream is promising to help solve this by letting people access their ‘earned income’ at any time during the pay cycle. An app shows each employee how much […]

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Lack of bank access slows digital payment growth

September 14 2018

• in
• Financial Inclusion

“According to the World Bank’s 2017 Global Findex Database, 69 per cent of adults in the world have bank accounts, leaving around 1.7-1.8 billion people with no bank accounts. The figure was up from 62 per cent in 2014 and 51 per cent in 2011, driven by the rise of digital payment, which has emerged in […]

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Global

China Can’t Afford a Cashless Society

September 12 2018

• in
• China
• Financial Inclusion

“The growing “cashlessness” of Chinese cities threatens to expose underlying issues of economic instability. Mobile payments are carving out lines between young and old, and between the prosperous urban middle class and those left behind by the boom times.”

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Amazon Cash Banks On Engaging African-American, Hispanic Consumers

February 6 2019

• in
• Financial Inclusion

“While Amazon’s overarching strategy is to engage these consumers, who represent 25.2% of the U.S. population, it is also an effort to attract more African-American and Hispanic consumers, who just so happen to be the most likely ethnic groups to be unbanked, according to an FDIC study. Several factors impact this disparity, including lower average […]

On The Wires

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Systems

DFS Lab Announces Open Applications for Fintech Hackathon Focused on the Mojaloop Software

January 31 2019

• in
• APIs
• Financial Inclusion
• Mobile Money

“Digital Financial Services Lab (DFS Lab), today announced it was hosting a hackathon in Dar es Salaam, Tanzania April 8 to 12. The Hackathon will offer participants an in-depth look Mojaloop, which is open-source software for financial services companies, government regulators, and others taking on the challenges of interoperability and financial inclusion. Interested applicants can apply on the DFS […]