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Southeast Asias fintech industry is flourishing, driven by soaring adoption of digitalpayments, alternative lending, and wealthtech. It notes that while COVID-19 accelerated the digital shift, Asia-Pacific (APAC) still face significant financialinclusion challenges with 820 million unbanked and 1.8
This week’s edition of Finovate Global features news from the fintech industry in Nigeria. Africa’s newest fintech unicorn raises $110 million African fintech Moniepoint is the continent’s latest fintech unicorn. The Nigerian fintech is one of seven African startups to make this year’s list.
Airtel Payments Bank is committed to empowering India with accessible and inclusive banking. With women at the heart of this mission, the Bank ensures that women are central to driving financialinclusion across the nation.
BKN301 Group , a London-based digitalpayments and banking-as-a-service (BaaS) solutions company, is organising a series of roadshows to drive financialinclusion. The events aim to educate local stakeholders on the potential of advanced digitalpayment solutions tailored to meet diverse market needs.
The fintech unicorns in Asia are moving to reshape the very fabric of how people and businesses interact with money. From digitalpayments to decentralised finance (DeFi), these companies are solving real-world challenges like financialinclusion and cross-border transactions, while setting new global standards for innovation.
Saudi Arabia for Information Systems Technology to operate digitalpayment services via an electronic wallet in the Kingdom. This license marks an important step in enhancing the companys position in the growing digitalpayments market in Saudi Arabia.
Network International (Network), a leading payment solutions provider in the Middle East and Africa, has signed a memorandum of understanding (MOU) with GIM-UEMOA , the regional payment scheme which promotes electronic payments across the banking, financial and public administration sectors in West Africa.
The Saint James Municipal Corporation and Mastercard have announced the signing of a Memorandum of Understanding (MOU) designed to foster digitalization as a catalyst for financialinclusion in the municipality.
The Vietnam Consumer Trends 2024 report, released in October, explores key drivers set to fuel Vietnam’s growth and opportunities, highlighting that digitalpayment methods are gaining dominance, and helping improve financialinclusion and accessibility. This ecosystem is expanding rapidly. rate in 2023.
With digitalpayments in the Middle East, Turkey, and Africa (META) projected to grow at a compound annual rate of approximately 17.7% from 2023 to 2030, the region’s payment landscape is set for substantial evolution.
Nigerian fintech Moniepoint has secured investment from digitalpayments giant Visa , enabling it to continue its mission to ensure financialinclusion for people across Africa. “Visas investment in Moniepoint is the latest example of our long-standing commitment to advancing digital economies in Africa.
The “LATAM Payment Methods & DigitalPayments 2025: Consumer Trends and Market Forecasts” report has been added to ResearchAndMarkets.com’s offering. Growth is driven by financialinclusion, fintech innovation, and regulatory reforms. trillion by 2027. Mexico 6.4. Argentina 6.5.
Mexico in Focus: Open Banking and FinancialInclusion A briefing for banks and fintechs, with key insights and details of the opportunities available in LatAm’s third-largest nation. Open Banking represents an important possibility for both financial institutions and the Mexican population.
Payments giant Mastercard is joining forces with Ethio Telecom , a telecommunications service provider in Ethiopia, in a move to enhance financialinclusion and wealth creation in East Africa. Mastercard also provides advanced analytics, anti-fraud systems, and digital identity verification to ensure secure payment solutions.
The report, titled “Her Fintech Edge: Market Insights for Inclusive Growth”, explores the representation of women within fintech portfolios and the factors influencing, and examines the performance of women customers compared to overall portfolios, considering loyalty, customer lifetime value (CLV), and default rates.
A Tracxn Technologies report highlights that the Southeast Asia fintech ecosystem experienced its zenith in 2021, marking the highest annual equity funding in the last decade. A visual overview of the SEA fintech sector’s funding trajectory from 2017 to 2024, showcasing the sharp decline after a record-breaking 2021.
The Algorand Foundation today announced a new strategic partnership with Paycode , a global leader in biometric and offline digitalpayment systems, to advance inclusivefinancial infrastructure across underserved and remote communities.
Latin America remains a strategic priority for Paysend, as the region accounts for over $150 billion in annual remittance flows globally, and a population where over 70% of adults are either underbanked or unbanked, creating a significant opportunity to drive financialinclusion.
Mastercard announced a strategic collaboration with PayTabs Group to facilitate digitalpayment solutions for small and medium enterprises in Egypt. Through this collaboration, PayTabs will leverage Mastercard’s global network and digitalpayments capabilities to provide merchants with a while-labelled digitalpayments platform.
Network International (Network) ( www.Network.ae ), a leading enabler of digital commerce across the Middle East and Africa (MEA), has been appointed as a Payment Processor – Issuing partner for MTN Group Fintech, Africa’s leading mobile financial services provider.
The National Bank of Cambodia (NBC) today marked the official integration of the Bakong Tourists app with Visa , expanding digitalpayment options for international visitors. It also supports ongoing efforts to improve digitalpayment infrastructure and streamline transactions for both tourists and businesses.
Yet, they often face financial challenges, struggling to access credit, manage cash flow, and navigate complex financial systems. Fintech solutions are changing this landscape, offering SMEs tailored tools to overcome these barriers. Fintech companies see this gap as an opportunity to innovate.
A new whitepaper titled The Future of Global Payments & Fourth Generation Payment Networks (4GPN) has been jointly released by the Thunderbird School of Global Management and fintech firm Wiseasy. The global digitalpayments market is expected to grow from US$10.18 trillion in 2024 to US$32.07
Latin America remains a strategic priority for Paysend, as the region accounts for over $150 billion in annual remittance flows globally, and a population where over 70% of adults are either underbanked or unbanked, creating a significant opportunity to drive financialinclusion.
Over 350 million adults in Africa live on a cash-only basis ( [link] ), without access to financial accounts, credit cards, or lending facilities. Digital currency systems could prove to be key in improving financialinclusion and opening up new opportunities to large underbanked communities in many African countries.
The report highlights key milestones, insights, and the organizations transition into an independent foundation, further strengthening its ability to drive financialinclusion across the continent.
Fintech is playing a pivotal role in the economic growth of Armenia, Azerbaijan, and Georgia. With advancements in payment systems, blockchain exploration, and digital currencies, these nations are harnessing technology to transform their financial landscapes and drive future development. per cent holding a credit card.
Network International (Network) ( www.Network.ae ), a leading enabler of digital commerce across the Middle East and Africa (MEA), has been appointed as a Payment Processor – Issuing partner for MTN Group Fintech, Africa’s leading mobile financial services provider.
The ninth edition of the Singapore Fintech Festival (SFF) wrapped up on 8th November, concluding a dynamic week-long of celebration of fintech that brought together tens of thousands of participants from around the world. The year’s conference featured an impressive lineup of over 900 speakers across more than 400 sessions.
As digital wallets reshape finance and big tech challenges traditional banks, who will control the future of money? X (formerly Twitter) has made its first decisive step into fintech, announcing a partnership with Visa to power its ambitious new digital wallet, X Wallet.
Fintech is transforming financial services across Asia at an unprecedented pace. With rapid digital adoption, evolving regulations, and AI-driven innovations, the region is at the forefront of global fintech growth. The Asia-Pacific fintech market is projected to reach USD $171.32 billion by 2029.
Visa (NYSE: V), a world leader in digitalpayments, and MISA , a provider of digital transformation solutions for finance, accounting, and enterprise management, announced a strategic collaboration to empower Vietnamese businesses through comprehensive digitalpayment solutions.
Intesa Sanpaolo and Visa have renewed their multi-year strategic partnership agreement, to accelerate the digital transition and encourage the growth of digitalpayments. Consumers will also be able to enjoy brand new payments innovations, including wearable technology. Stoppani, Country Manager Visa Italy.
Financial Hub: Istanbul Istanbul (ranked globally 110th) is currently undergoing significant investment, particularly in projects like the Istanbul Financial Centre, aimed at positioning the city as a leading global financial hub. However, Turkey has yet to fully adopt the Second Payment Services Directive.
To promote financialinclusion and accessibility, TerraPay , a leading global money movement company, has partnered with Yape , the superapp of Peru. Diverse Functionality: Users can immediately utilize the received funds across various app features, promoting a cashless economy and fostering greater financialinclusivity.
Network International, a digital commerce player in the Middle East and Africa (MEA), has partnered with global digitalpayment provider Ant International to bring expanded digitalpayment options to businesses across the region. Alipay+ currently connects over 30 digitalpayment methods across the world.
Southeast Asia’s e-wallet landscape is a vibrant yet chaotic arena, shaped by rapid digital adoption, fierce competition, and an unrelenting push for financialinclusion. Nikkei Asia projects that the ASEAN digitalpayments market could reach US$2 trillion by 2030 , underscoring the massive opportunity.
Financialinclusion is a critical issue, but simply providing access to financial products isn’t enough. True inclusion requires financial literacy, empowering individuals to make informed decisions. per cent of US families netting between $35,000 to $49,999 annually.
The future of payments is digital, inclusive, and transformativedriving financial access, innovation, and global economic empowerment. The global financial landscape is undergoing a profound transformation. Cost reduction: Digitalpayments reduce cash handling costs and operational inefficiencies.
This infrastructure, which was launched in 2019, has considerably helped boost digitalpayment usage, with Doku reporting a fourfold increase in e-money transactions on its platform in 2022, compared with 2021. Indonesia’s burgeoning fintech sector Indonesia’s fintech sector has grown tremendously over the past years.
Mastercard has once again collaborated with foodpanda, a Delivery Hero-owned online food and grocery delivery platform, to boost digitalpayment in Pakistan and support the nations transition toward a cashless economy. According to data from the State Bank of Pakistan, currency in circulation (CIC) in the country increased by 11.2%
In a strategic move to accelerate digitalpayments, financialinclusion, and modernizing the country’s payment ecosystem, BPC , a global leader and payment solutions provider, is announcing the expansion of its operations in Nigeria.
Paymentology , the global issuer-processor, has joined forces with Diamond Trust Bank , a tier-one East African commercial bank, in a move hoping to help drive financialinclusion in Kenya through the embedding of financial services, and deployment of Cards-as-a-Service (CaaS).
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