On The Web
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“The project is being undertaken in collaboration with the Zambia Electronic Clearing House Limited (ZECHL) and implemented under the National Financial Switch (NFS), an electronic platform (system) which will link all mobile money operators in a bid to increase financial inclusion among the over 60% unbanked Zambians. The NFS is being established under the National […]
In Conversation With Bob Collymore, CEO of Safaricom
“And he is clear that the company needs a successor with yet another set of skills, as the chapter of the ‘ubiquitous platform’ begins. “I have never been a good mergers and acquisitions person, but we will need someone who can spot a deal and grab it,” concludes Collymore. “[We need] someone who understands the financial […]
Nala Has Built a Hassle-free, Offline Mobile Money Payment Platform for Africa
“In Tanzania, making one send money payment requires a user to enter somewhere between 39-46 digits, a hard enough task for anyone, let alone someone who may be newly adjusting to mobile phone service. Using Nala, users can make payments to anyone on any device, and it only requires a one-time download to start transacting, […]
Kenya’s Safaricom FY Earnings Jump on M-Pesa Growth
“Safaricom, which is partly owned by South Africa’s Vodacom and Britain’s Vodafone, said rapid growth in M-Pesa had offset a sharp slowdown in the growth of its internet access provision, data, business. M-Pesa revenue jumped 19.2 percent to account for 31.2 percent of the company’s revenue of 240.3 billion shillings, Chief Financial Officer Sateesh Kamath […]
GCash Breaches 50k QR Merchant Mark
“GCash, operated by Globe Fintech Innovations Inc. (Mynt), continuously sets up as many QR-enabled merchants as possible, because it believes that the future of mobile digital payments lies on innovative technologies. “QR payments provide security and convenience to both merchants and their customers,” said JM Aujero, vice president for Merchant Solutions. Our thrust as a […]
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, […]
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, […]
After Years of Rapid Growth in Africa We’re About to Enter the Age of Mobile Money 2.0
“There is nowhere else in the world that moves more money on mobile phones than Sub-Saharan Africa. The region is currently responsible for an astonishing 45.6% of mobile money activity in the world —an estimate of at least $26.8 billion in transaction value in 2018 alone—this figure excludes bank operated solutions. Mobile money operators like […]
Mobile Money Comes to Nigeria
“In the past decade a mobile-money revolution has swept through much of Africa, enabling the unbanked to make transfers, pay bills and save. Half of the world’s 866m mobile-money accounts are in Africa, not counting services which need users to belong to a bank. But not many are in Nigeria, its largest economy and most […]
On The Wires
nbsp;GSMA Report Highlights 20 Per Cent Annual Increase in Mobile Money Accounts to More Than 866 Million Worldwide
“At the end of 2018, there were more than 866 million registered accounts in 90 countries – a 20 per cent increase from 2017. The report also shows that the mobile money industry processed transactions worth US$1.3 Billion per day in 2018, with digital transaction values growing at more than twice the rate of cash […]