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Chinese Consumers Now Make Three Mobile Payments Every Day

February 8 2021

“Chinese consumers made an average of three mobile payments a day during 2020, while 98% of the Chinese population consider mobile payments to be their most frequently used transaction method, an increase of five percentage points on last year, a new survey reveals. The number of consumers making mobile payments using a QR code also […]
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Domains

Kenyan Banks Rattled As Mobile Payment Platforms Surge in 2020

January 21 2021

“The Kenyan banking industry has reportedly lost around $11 million in revenue from card payments to telco mobile platforms in the last nine months With the coronavirus pandemic still ongoing, bringing with it a host of economic struggles, Kenya’s banks are feeling the strain. But this is not just a matter of fewer transactions taking […]
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Deals

Warburg-Backed Vietnam E-Wallet Raises $100 Million

January 15 2021

“Vietnam’s startup payment app MoMo has raised a new funding round of more than $100 million, according to two people familiar with the investment. The company, M-Service JSC, creator of MoMo, confirmed that it raised money from investors without specifying how much.”
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Domains

The BCRA enables new forms of payment with transfers from today

December 7 2020

“The first stage of the national system of Payment with Transfer 3.0, the initiative launched by the Central Bank of the Argentine Republic (BCRA), will begin operating this Monday in 50,000 shops as a tool that will integrate all electronic wallets and banking applications, to boost the digital payments and promote a greater financial inclusion […]
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Domains

Kenyan bank launches mobile payments service

November 30 2020

“A partnership with a UK-based company will give Prime Bank customers in Kenya access to mobile payments. Nairobi-headquartered private bank Prime Bank has taken a further step into the fintech market by launching an international money transfer service, in collaboration with London-headquartered company SimbaPay. The service will allow customers to send money to bank accounts and mobile wallets […]

On The Wires

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Companies

Mastercard and MTN Empower Millions of Consumers in Africa to Make Payments on Global Platforms – MTN Group

February 17 2021

“Mastercard and MTN today announced a strategic partnership to enable millions of consumers in 16 countries across Africa to make global e-commerce payments safely and securely. Through a Mastercard virtual payment solution linked to MTN MoMo (Mobile Money) wallets, consumers and merchants can engage with brands and businesses abroad through digital commerce, extending their reach […]
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Domains

7-Eleven Introduces Innovative In-App Wallet

December 3 2020

“No pin pads to touch, less cash to handle and an easy, contactless way to pay… that’s the 7-Eleven Wallet. 7-Eleven, Inc.’s new app-based mobile wallet offers all customers — including those who would like to load cash — a true contactless, convenient way to pay nationally at participating U.S. stores. Easily accessible in the 7-Eleven […]
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