Payments News

On The Web

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Systems

The battle between cash and mobile payments

“Nigeria might be Africa’s largest economy, but when it comes to financial matters, people typically favour cash payments over technology. Despite high mobile penetration, only 6% of the population uses mobile phones to make financial transactions. And 60% of Nigerians still do not have a bank account, so they don’t have access to digital services on offer. In […]
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Global

Mexico pushes mobile payments to help unbanked consumers ditch cash

“The administration of President Andres Manuel Lopez Obrador recently announced measures aimed at making financial services more affordable in a nation where more than half the population is unbanked. It is planning a digital payments system run and built by the central bank that will allow Mexicans to make and receive payments through their smartphones free […]
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Systems

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 […]
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Systems

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 […]
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Systems

Zambia Looks to Link up Mobile Money Operators – ITWeb Africa

“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 […]
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Systems

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 […]
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Systems

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 […]

On The Wires

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Reports

GSMA Report Highlights 20 Per Cent Annual Increase in Mobile Money Accounts to More Than 866 Million Worldwide

“The GSMA today unveiled its eighth annual ‘State of the Industry Report on Mobile Money’, offering a current snapshot of the mobile money landscape and highlighting the impact that greater financial inclusion has on lives, economies and innovation, especially in emerging markets. The report provides a comprehensive picture of mobile money adoption and usage around […]
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