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PayPal Fires up “Ripple-Killer” Xoom App for International Payments
The mobile payments app offers next-day money transfers at fees lower than its main payments platform PayPal. According to the website, transfers on Xoom cost around $4 in Europe and $9 to countries further afield.
- Categories
- Finance
- Region
- Europe & Eurasia
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Why Payment Fraud is a Critical Threat to Financial Inclusion – And How Mojaloop is Making it Worse
The next key step in financial inclusion is payment interoperability, in which digital finance providers’ networks are connected to enable transactions between users of different systems. But though interoperability has major potential for the sector, it also comes with huge risks, says Clear Purchase founder Nick Brown, an expert in payment infrastructure. He explains why a massive payment fraud attack could do substantial and long-lasting damage to the financial inclusion movement, and how an open-source platform like the Gates Foundation's Mojaloop increases the risk.
- Categories
- Finance, Technology
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Opera Founded Startup OPay Raises $50m for Mobile Finance in Nigeria
Opera founded OPay in 2018 on the popularity of its internet search engine. Opera’s web-browser has ranked No. 2 in usage in Africa, after Chrome, the last four years.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Mastercard Debuts Card to Act as ID, Payment for Underserved
Members of underserved populations don’t always have credit cards. City Key is Mastercard’s effort to help cities distribute services and benefits by creating a tool that can act as an ID, payment card or access pass.
- Categories
- Finance
- Region
- North America
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Viewpoint: Facebook’s Libra Cryptocurrency Could Be Great, if Not for Facebook
Libra is the evolution of that early goal, now with grander ambitions. Facebook wants to completely reshape how people make online payments. By detaching from currencies like the U.S. dollar, Libra could bring instant, low-cost digital payments and transfers to anyone with a phone
- Categories
- Finance, Technology
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Singaporeans Can Now Pay for Their Ride With Go-Jek Using DBS Bank’s E-Wallet
Go-Jek has integrated DBS Bank's e-wallet into its platform to drive cashless mobile payments for consumers in Singapore.
- Categories
- Finance, Technology
- Region
- Asia Pacific
- Tags
- digital payments, fintech
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WorldRemit Intros Money Transfer Service for SMEs
According to WorldRemit, the new service will make it easier for local enterprises to receive payment by UK-based partners via their bank account or cash pick-up. While some banks can take up to one week to process payments, WorldRemit says its transfers to SA are processed within 24 hours or less.
- Categories
- Finance
- Region
- Europe & Eurasia
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The Front Lines of the Digital Revolution: Reasons for Hope and Caution as India Rides the Fintech Boom
India is now the world's second biggest fintech hub, trailing only the U.S. Its digital payments market is set to grow to US $500 billion by 2020, with its overall digital economy predicted to reach 30% of the country’s GDP by 2025. According to Moin Qazi, this ongoing fintech revolution offers a preview of what global banking may look like a generation from now, delivering vast benefits to both providers and customers. But it isn't free of downsides – for both traditional financial institutions losing their market share to tech-based entrants, and for customers navigating new risks.
- Categories
- Finance, Technology
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