On The Web

nbsp;

Companies

Mobile Money Heats Up in India as Google Doubles Down

August 28 2018

• in
• Google
• India
• Mobile Money

“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 […]

nbsp;

Global

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

July 24 2018

• in
• Africa
• Mobile Money

“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 […]

nbsp;

Global

Nigerians Bury Cash In Backyards As Mobile Money Stumbles

July 19 2018

• in
• Mobile Money
• Nigeria

“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.”

nbsp;

Global

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

April 30 2018

• in
• Kenya
• Mobile Money

“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 […]

nbsp;

Systems

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

September 5 2018

• in
• 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.”

nbsp;

Glenbrook

Pulling funds from bank accounts: best practices for mobile money providers

September 24 2018

• in
• Mobile Money

“In our 2017 Edition of The State of The Industry report, we highlighted an increase in funds entering and leaving the mobile money system in digital form. The most pronounced change was in bank-to-mobile transactions, from 1 per cent of total transaction values in 2012 to 9.2 per cent in 2017. In another blog post, we noted […]

nbsp;

Global

Kenya’s biggest mobile money service is reinventing itself for the future

November 15 2018

• in
• Kenya
• Mobile Money

“Safaricom is responding to these challenges by developing an ecosystem that favors M-Pesa as a de facto payment system for other services. By building this proprietary infrastructure, the aim is to not only make the payment service indispensable to customers, but also yield a consistent experience on a daily basis.”

nbsp;

Global

India moves towards interoperable mobile wallets

October 17 2018

• in
• India
• Mobile Money

“The Reserve Bank of India (RBI), the country’s central bank, has issued the final set of guidelines for new rules designed to enable mobile wallet users to easily make payments and transfer funds to users of competing mobile wallet services. Reserve Bank of IndiaThe new rules are set out in Prepaid Payment Instruments (PPIs) — Guidelines […]

nbsp;

Systems

The mobile money industry’s transition to a platform-based business model

September 27 2018

• in
• Mobile Money

“Processing over a billion dollars a day, mobile money has evolved into the leading digital payment service in many emerging markets. Yet, significant changes in the commercial and technological landscapes mean that mobile money of tomorrow is likely to be based on a new business model. This blog is the first in a series of […]

nbsp;

Global

Mobile money transactions fall on new taxes

November 19 2018

• in
• Kenya
• Mobile Money

“Mobile money transactions have declined in the wake of new taxes introduced on digital cash transfers and bank charges. Data from the Kenya National Bureau of Statistics (KNBS) indicate that transactions marked one of the steepest declines in several months, both in the number and value of money sent. “