Payments News » Mobile Money

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 […]

Domains

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 […]

Domains

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

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.”

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 […]

Companies

Mobile Money Heats Up in India as Google Doubles Down

August 28 2018

“A day after Warren Buffett’s Berkshire Hathaway Inc. said it had invested in the parent company of India’s largest digital-payments firm, called Paytm, Google said it is expanding its mobile money service in the South Asian nation. It is partnering with several local banks to offer consumer loans from within its app in the coming weeks, aiming to assist […]

Systems

MTN’s successful IPO in Ghana shows the far-reaching potential of mobile money in Africa

September 5 2018

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Mobile Money

“MTN successfully pulled off a first: a historic initial public offering done mainly through mobile money. The telecom operator’s IPO, launched in May, saw 84.6 % of local applicants in Ghana buy their shares through MTN’s mobile money service, Momo Wallet.”

Global

Mobile Money Interoperability Is The Next Revolution In Africa, This Is What You Need To Know

July 24 2018

“Several regions across Africa are zeroing in on what promises to be a new frontier in the fast-growing digital economy: mobile money interoperability. That means anyone in an interoperable region with a mobile money account can transact with anyone else who has an account, whether they use the same service provider or not. And when […]

Global

Nigerians Bury Cash In Backyards As Mobile Money Stumbles

July 19 2018

“Less than 6 percent of Nigerians use their handsets to transact using mobile money, compared with 73 percent of Kenyans, where more than two-thirds of adults have a bank account, according to the World Bank. That’s even though there are more than two phones for every bank account in the West African nation.”

Domains

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 […]