Payments News
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Systems

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

January 31 2020

“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

Kenya’s Safaricom FY Earnings Jump on M-Pesa Growth

May 3 2019

“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 […]
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Systems

Zambia Looks to Link up Mobile Money Operators – ITWeb Africa

April 2 2019

“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

In Conversation With Bob Collymore, CEO of Safaricom

March 25 2019

“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

GCash Breaches 50k QR Merchant Mark

May 7 2019

“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

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

October 23 2019

“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

October 10 2019

“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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Global

Namibia Operator Tipped for Mobile Money Move

February 10 2020

“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

Mobile Money Comes to Nigeria

May 10 2019

“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 […]