Payments News
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Systems

Cash May Not Be King, but It’s Still Royalty

“Yet digital’s gain isn’t necessarily coming at the expense of cash. The overall pie still appears to be growing. Only two countries, Russia and Sweden, had a net substitution of cards for cash from 2007 to 2016, with cash in circulation shrinking as card payments grew, according to the Bank for International Settlements. In other […]

On The Web

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Systems

MTN Inks Expanded Flutterwave Mobile Money Deal

“MTN Group widened a partnership with merchant payment technology provider Flutterwave to expand acceptance of the operator’s mobile money platforms to the latter’s customers in three new African markets. Prior to the new deal, Flutterwave customers in Uganda and Rwanda were able to accept payments through MTN’s mobile money platforms. This has now been expanded […]
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Systems

CBN Issues Revised Guidelines on Mobile Money Services in Nigeria

“On 9 July 2021 the Central Bank of Nigeria (CBN) issued a new regulatory framework on mobile money services in Nigeria (the 2021 guidelines), replacing the guidelines on mobile money services that were issued in 2015 (the 2015 guidelines). The 2021 guidelines retain the existing models (bank and non-bank-led) that may be implemented by mobile […]
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Global

Opera’s OPay still plans Africa expansion on Nigerian super app

“Opera’s Africa fintech startup OPay remains committed to building a multi-service super app in Nigeria as the foundation to expand on the continent. OPay also continues to operate ORide for limited passenger service — though the company is shifting the motorcycle ride-hail operation toward logistics businesses. Opera launched the OPay mobile money platform in Lagos […]
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Companies

Visa Gives Kenya’s Safaricom ‘Missing Link’ for Global Payments

“Visa and Safaricom have agreed a deal which will connect the Kenyan telecom operator’s M-Pesa financial services platform with Visa’s global network of merchants and cards. Under the deal, which requires regulatory approval, announced on Thursday by both companies, M-Pesa’s 24 million users and 173,000 local merchants will be linked to Visa’s 61 million merchants and […]
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Global

Namibia Operator Tipped for Mobile Money Move

“Namibia’s largest operator by connections, MTC, revealed it was at an advanced stage of developing a mobile money service, Windhoek Observer reported, with the proposition set to challenge in the country’s bank-led sector.”
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Systems

The Role of Cash In/Cash Out in Digital Financial Inclusion

“There’s a common assumption in the financial inclusion community that the best way to dethrone cash in emerging markets is to devise more use cases for digital financial services (DFS) that are so compelling that customers will prefer them over cash. While there is evidence that customer-centric products lead to DFS uptake and customer retention, […]
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Global

Nigeria Is Finally Turning to Telcos to Drive Financial Inclusion Through Mobile Money

“The regulatory caution and conservatism often blamed for holding Nigeria back finally looks set to change with the central bank reversing a longstanding stance on declining to issue mobile money licenses to telecoms operators. In the wake of the central bank’s change in tack, MTN, Nigeria’s largest telecoms operator, with more than 60 million customers, […]
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