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With women at the heart of this mission, the Bank ensures that women are central to driving financialinclusion across the nation. The Bank announced that it now works with over 100,000, women business correspondents, reinforcing its commitment to financialinclusion and economic empowerment.
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.
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.
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.
This collaboration is part of a broader effort to put a spotlight on the millions of customers that Paysend is proud to serve, delivering Simple Money Transfer solutions to all, including the underbanked and underserved, and transforming lives through quick, secure, and affordable money transfers.
The report highlights key milestones, insights, and the organizations transition into an independent foundation, further strengthening its ability to drive financialinclusion across the continent.
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
The goal of this partnership between the top Spanish-language media company and the global payments provider is to give people in underserved areas fast, low-cost cross-border money transfers. At the heart of this effort is Paysend’s mission to break geographic, financial, and digital barriers.
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.
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.
The State Bank of Pakistan (SBP) has awarded Mashreq Pakistan a restricted license for pilot operations as part of the government’s strategy to unlock Pakistan’s digital potential and provide greater access to financial services to underserved consumer groups.
These services aim to support businesses of all sizes, particularly small and micro-sized enterprises (SMEs), in their digital transformation and financialinclusion efforts. Alipay+, Ant Internationals cross-border payment platform, connects over 90 million merchants in 66 markets to 1.6
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).
Championed by the Central Bank of Somalia (CBS), the initiative marks a major step in modernising Somalia’s payment infrastructure, promoting financialinclusion and enhancing economic stability. The demand for secure, fast, and modern payment solutions has been pressing.
Rellevate’s leading digital banking, disbursements, and wallet solutions are designed to unlock access to payments technology for underserved communities. This partnership will continue to yield innovation, financialinclusion, and digital technological education for consumers across the nation.”
Ant International , the digitalpayment and fintech company, has joined forces with Dock , a payments and banking technology provider in Latin America, to offer new AI-driven credit technology solutions in Brazil. “Ant International is the partner we were looking for to materialise our financialinclusion goals.
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. Each plays a key role in transforming how Indonesians save, spend, invest, and access financial services.
Orange Middle East and Africa (OMEA) ( www.Orange.com ) and Mastercard have announced a strategic partnership to expand access to mobile financial services across Sub-Saharan Africa. The partnership will be rolled out in seven countries including Cameroon, Central African Republic, Guinea-Bissau, Liberia, Mali, Senegal and Sierra Leone.
Today, we process over one billion transactions monthly, with total payment volume exceeding $22billion; enabling businesses and individuals in Nigeria to digitise their operations and thrive in its rapidly evolving economy. What challenges remain to achieving Moniepoints financialinclusion goals?
Through the introduction of Earned Wage Access and Send Now, Pay Later in the UAE, we aim to address real-world financial challenges, offering tools that empower individuals to take control of their finances. The post UAE Financial Group Expands Its Operations With ABHI appeared first on FF News | Fintech Finance.
Africas digitalpayment ecosystem is growing rapidly , making innovative and scalable financial products essential for sustained growth. Innovation is not just about building more products – its about solving real customer challenges and making payments more seamless, scalable, and accessible.
Championed by the Central Bank of Somalia (CBS), the initiative marks a major step in modernising Somalia’s payment infrastructure, promoting financialinclusion and enhancing economic stability. The demand for secure, fast, and modern payment solutions has been pressing.
Over three million migrant workers living in Malaysia will now be able to remit funds to their home countries in local currencies in near real-time, following a new partnership between Instapay Technologies , the digitalpayment platform, and payment juggernaut, Mastercard.
The partnership with Visa is a testament to Pyypl’s mission to democratise access to financial services, its innovative business model and the large market opportunity – as well as highlighting Visa’s trust in Pyypl to accelerate financialinclusion.
Additionally, founders and owners may lack the financial tools and expertise needed to manage cash flow effectively, further complicating their growth potential. Despite their significant contributions to GDP and employment, SMEs in emerging markets remain underserved by traditional banking.
Cambodia is leveraging fintech innovations and strategic reforms to boost economic growth, financialinclusion and international partnerships, positioning itself as a key player in the Southeast Asian digital economy. Despite these advancements, about 30 per cent of the adult population remains underserved in financial services.
Post-Independence (1947 - 1990s): Building the Foundation After independence, India focused on strengthening its financial infrastructure and extending banking services. Nationalization of Banks (1969, 1980): A major policy shift aimed at increasing financialinclusion and directing credit to priority sectors.
As part of this collaboration, NOW Money customers will be issued a Mastercard payment card, providing them with secure, seamless, and convenient access to their finances and enabling them to reap the benefits of the digital economy.
Jeff Parker, CEO, says, “Digitalpayments will continue to grow rapidly, with mobile wallets expected to reach 4.8 Key trends will include the acceleration of cross-border, real-time and instant payments and the rise of cashless economies. This will help create digitalpayment ecosystems that can reach the 1.4
This project, set to span five years, targets the promotion of digitalfinancial access for 20 million people, focusing on women, smallholder farmers, and small business owners in developing regions of Asia, Africa, and Latin America. said Ashley Olson Onyango, Head of FinancialInclusion and AgriTech, GSMA.
Network International (Network) , the leading enabler of digital commerce across Africa and the Middle East, has announced that Zambian fintech and neobank, Lupiya , has appointed Network as their digitalpayments technology partner to launch a new debit card. in 2015 to 69.4% But a third of the population remains excluded.
An Underserved Market. Turner said financialinclusion is a significant part of Mastercard’s focus, with a nod to the transformative ability of technology and data to deliver new services to a broad swath of users. It’s an expensive and limiting place to be.”. Mastercard Accelerate. Mastercard Accelerate.
and around the world and finding the right partners to better midwife an era of democratized access to financial services solutions that need to vary and speak to the needs of the underserved population being helped. We recently announced the partnership with M-PESA, the transformative mobile payment system in Kenya.
The research points out that this diversity in views reflects the sector’s resilience, with many firms identifying opportunities for expansion, especially into underserved markets. The commitment to financialinclusion remains a cornerstone of the fintech value proposition.
The offering includes a variety of real-time payment mechanisms, supporting bank account destinations, a global electronic card network, and digital wallets.
The award recognizes JazzCash’s innovative approach, the first of its kind globally, allowing over 350,000 merchants and businesses to accept payments from contactless cards or smartphones with a simple tap on an NFC-enabled Android device. Pakistan is home to approximately 5 million MSMEs, and JazzCash aims to digitize their transactions.
This article covers the impact of COVID-19 on payment processing, supported by data and statistics that highlight the scope and scale of these changes. An Accelerated Shift to a Cashless Society The shift from cash to digitalpayments, which was already underway before the pandemic, was dramatically accelerated by COVID-19.
A new report by Deloitte delves into the latest developments in the cross-border payment sector in Asia-Pacific (APAC), identifying four major trends reshaping the landscape and offering significant opportunities for merchants. The digitalpayment revolution The first trend outlined in the report is the digitalpayment revolution.
The BOT aims for these new digital players to enhance financial services through the use of technology and data, improve financialinclusion, and foster healthy competition. Ant Group is a leading Chinese fintech company renowned for its flagship product Alipay, a widely popular digitalpayment platform.
As of April 2023, there were 1,000 active fintechs in Latin America (LatAm) with a vast majority focusing on financialinclusion, tackling the issue of 70 per cent of the population not having access to formal financial services. Peruvian financial habits are vastly changing from what they have traditionally been.
Saudi Arabia-based payment solution provider Geidea , is joining forces with tpay , a local payment connector, in a move to offer an integrated suite of payment methods to enhance the payment experience for merchants and consumers while driving financialinclusion across the region.
This has significantly increased financialinclusion, empowering millions who previously had no access to banking services. In Ghana, MTN Mobile Money has become a vital financial tool. Similarly, in Southeast Asia, mobile money platforms like GCash in the Philippines are transforming the financial landscape.
When recognizing Cybersecurity Month in October, it is important to consider the connection between cybersecurity, cutting-edge technology, and financialinclusion. Executives of financial institutions should have a good understanding of the importance of financialinclusion and the impact technology has on it is essential.
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