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Seven Essential Guiding Principles to Boost Financial Inclusion Laid Out in New Report
Seven guiding principles to help countries increase financial inclusion were set out in a report released today by the Committee on Payments and Market Infrastructures (CPMI) and the World Bank Group. The Payment aspects of financial inclusion report builds on a document that underwent public consultation in late 2015 and seeks to tackle barriers to the adoption and usage of transaction accounts, which sit at the heart of retail payment services.
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Over 60 Financial Giants Line Up to Partner With India Post
The vast legacy network of India Post, once perceived to be unwanted baggage and a huge financial burden, is turning out to be its biggest strength. Top global financial firms Barclays, Citibank, Deutsche Bank, Western Union, Visa and domestic giants State Bank of India and Punjab National Bank are among over five dozen companies that have queued up to partner with the payments bank arm of the country's postal department.
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- Uncategorized
- Region
- South Asia
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Why African fintech startups are so attractive to investors
The recently-released African Tech Startups Funding Report released by Disrupt Africa found fintech was the most popular destination for funding in the tech sector after solar in 2015.
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- Investing
- Region
- Sub-Saharan Africa
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Visa Enters Somalia’s Financial Market
Visa Inc. has signed an agreement with Somalia’s Premier Bank that will enable Visa cardholders in Somalia to use Premier Bank’s ATM network in the country.
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- Uncategorized
- Region
- Sub-Saharan Africa
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When People Say They ‘Lack the Money to be Banked’ – Here’s What They Mean
Between 2014-2015, Bankable Frontier Associates worked with other partners to collect baseline data on access to financial services in three member countries: Fiji, Samoa and the Solomon Islands. In these surveys, not having enough money also emerged, unsurprisingly, as the number one reason for not having a bank account among unbanked Pacific Islanders. But here's what we found when we dug a bit deeper.
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How PayPal is Moving Beyond Payments: An Interview with Tyler Spalding
Many people know PayPal primarily through its ubiquitous buttons enabling online donations to nonprofits, blogs and other websites and causes. But it also has a significant presence in the world of social business – something that represents a growing priority for the payments provider. We discussed this evolving focus with Tyler Spalding, lead manager on PayPal's Social Innovation team.
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India’s banks take the battle to mobile wallet players
Banks are taking the battle to mobile wallet companies, armed with their readymade payment systems, wide merchant network and an on tap customer base, attempting to reclaim a turf which just a couple of years ago was their fiefdom.
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- Uncategorized
- Region
- South Asia
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NexThought Monday: Sprinters vs. Limpers – Three Critical Success Factors for Digital Finance Deployments
According to the GSMA, there are 271 mobile money services in operation across 93 countries, and digital financial services are now available in over 60 percent of developing markets. An increasing number of services are reaching scale, as 30 services now have more than one million active accounts. But 241 have failed to do so. So what separates these 30 “sprinters” from those deployments that are merely limping along?
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