Payments News » Financial Inclusion

Aided by mobile phones, 3.8 billion people now have bank accounts, global findex database shows

April 18 2018

in
Financial Inclusion

“Aided by mobile phones and the Internet, at least 69 percent of adults – 3.8 billion people – now have an account at a bank or mobile money provider, the Global Findex database released on Wednesday during the World Bank and IMF Spring Meetings in Washington, D.C., shows. This is up from 62 percent in 2014 and just […]

Companies

PayPal plans banking features like FDIC coverage by mid year

April 10 2018

“PayPal is planning to roll out traditional banking features to some users in the coming months, the company said Monday. The features include Federal Deposit Insurance Corp. coverage of the PayPal Wallet, online check deposit, and a debit card that can be used to withdraw cash.”

Companies

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

May 17 2018

“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 […]

Use

Contactless donations project raises thousands for homeless in Cardiff

April 19 2018

in
Financial Inclusion

“A scheme to allow shoppers to donate to the homeless using their contactless cards has been hailed a success after a trial. A total of 430 kind-hearted shoppers in Cardiff swiped their contactless cards to give money to the homeless in just three weeks. The interactive window in the city centre allows passers-by to tap their card […]

Global

Using big data to link poor farmers to finance

May 3 2018

in
Financial Inclusion

“Two billion adults in the world are excluded from credit. The situation is especially bad for small farmers in rural areas who are unable to access loans to invest in their farms, trapped in a vicious circle of low productivity, low yields, and poor income. The Initiative for Smallholder Finance estimates that smallholders globally access just […]

Global

Financial inclusion is improving around the world—but women are still missing out

April 19 2018

in
Financial Inclusion

“In developing countries, the gap in financial inclusion between men and women has stalled at nine percentage points. Not every emerging market has this disparity—men and women are equally likely to have an account in Cambodia, Indonesia, Myanmar, and Vietnam, for instance. Even so, making sure women have equal access to financial services can change […]

Regulation

Your local post office could become a bank if this bill passes

April 26 2018

in
Financial Inclusion

“Senator Kirsten Gillibrand, D-N.Y., is proposing legislation aimed at putting an end to current payday lending practices by giving some banking services a new home: the U.S. Post Office. The legislation, called the Postal Banking Act, would make retail banking services available at all U.S. Postal Service locations. That amounts to 30,000 post offices nationwide.”

Use

Women in Charge: Mastercard Index Reveals How Countries are Progressing to Empower Women Entrepreneurs

March 7 2018

in
Financial Inclusion

“rd Index of Women Entrepreneurs (MIWE) revealed. Compared to their peers in emerging markets, women business owners in developed ones are able to draw from a greater pool of enabling resources and opportunities, including access to capital, financial services and academic programs.”

Use

Stash to Unveil New Banking Services, Powered by Green Dot Corporation

April 12 2018

in
Financial Inclusion

“Green Dot services will include bank accounts with debit cards, no overdraft fees, and a large network of free ATMs nationwide. Additionally, Stash will provide personal guidance across every aspect of a client’s finances – from spending to saving, to retirement and investing. Stash powered technology will provide clients with actionable advice to help customers […]