Payments News » Mobile Money

Mobile money interoperability in Bolivia: A case study for Latin America

April 10 2018

in
Mobile Money

“There is a commercial rationale for efficient interoperability with the banking sector which can be achieved through different models. Timing and industry choice was key to the momentum behind interoperability with the banking sector and the identification of ACCL switch as the preferred model. The arrangement was supported by constructive dialogue between industry and policymakers […]

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Call for linking Sri Lanka’s mobile money transfer systems

April 3 2018

in
Mobile Money

“Greater co-ordination of Sri Lanka’s two mobile phone money transfer systems could help expand distribution networks in rural areas, a new study on how fintech can improve the development impact of labour migration has said. “

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Societe Generale Cameroun partners with YUP to run mobile money services

April 3 2018

in
Mobile Money

“Societe Generale Cameroun (SGC) has partnered with YUP Cameroun to operate mobile money activities in the country. According to an authorisation from the central bank, SGC bank and it’s partner YUP Cameroun can now offer digital finance services. The authorization states that the financial institutions have 12 months as from March 2018 to kick start […]

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Mobile commerce transactions in Kenya surpass Sh1trn

April 12 2018

“According to the Communications Authority of Kenya (CA), transactions hit Sh1.17trn ($11.6bn) in the second quarter of 2017/18, up 64% from the previous quarter’s recording of Sh714bn (US$7bn). The nation was able to reach the trillion mark despite mobile commerce transactions falling from 352mn in the first quarter to 308mn in the second quarter. “A total […]

Global

One of the world’s biggest mobile money services wants to become a social network

April 30 2018

“The messaging service, known as Bonga (which means “to chat” in colloquial Swahili), was partially-launched on April 26, in closed beta testing for select users on Android devices, according to documents seen by Quartz. The app will allow users to review their balance on M-Pesa, besides letting customers transact money without leaving the platform. The service […]

Global

Tunisia operators make mobile money interoperable

April 18 2018

“Mobile operators Ooredoo Tunisia, Tunisia Telecom and Orange Tunisia all offer money services in the country and – in one of a number of measures included in the government’s Digital Tunisia 2020 initiative – customers of the three are now able to seamlessly transfer cash.”

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GCash, Alipay target Chinese tourists with new payment scheme

April 17 2018

“Globe Telecom’s fintech arm Mynt and Ant Financial on Monday jointly launched a new QR Code solution that will allow Philippine merchants to accept local GCash payments as well as payments from Chinese tourists using Alipay in one single connection. “By jointly establishing this QR code with Alipay, all merchants working with GCash will be able […]

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Interoperability lifts Equitel’s growth to Sh711bn value of transactions

April 17 2018

“Equity Bank’s mobile money platform Equitel rode on interoperability to grow, processing transactions worth Sh711.5 billion in the three months to December up from Sh650.3 billion in the previous quarter. The value of Equitel’s transactions was Sh350.5 billion, Sh258.9 million for its mobile e-commerce while person-to-person transfer on the platform amounted to Sh102 billion, according […]

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Airtel Tigo integrates money transfer platforms

March 28 2018

“Customers of Airtel Money and Tigo Cash will by the end of April 2018, be integrated onto a single platform to allow for mobile money transactions. This is according to the CEO of Airtel Tigo, Roshi Motman. The move which will make them the second biggest mobile money operator in the country also forms part of […]

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The reach of West Africa’s mobile money sector is 13 times wider than local banks

April 12 2018

“That rapid growth has been a boon for financial inclusion, mainly through mobile money. Thanks to expanding agent networks and more enabling regulations, there are now 13 times more active mobile money agents in West Africa than the total number of bank branches and ATMs, the report notes. Paga, a leading mobile money service in […]