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With 44% of UK adults facing financial vulnerability, a national strategy seeks to close the gap through policy, innovation, and education. In December 2024, HMT announced the appointment of a FinancialInclusion Committee, tasked with advising the government on developing the first-ever National FinancialInclusion Strategy.
The Asian Development Bank (ADB) and the Mastercard Impact Fund have forged a new partnership to tackle the pressing financing challenges faced by MSMEs in Asia and the Pacific. The programme will prioritise women-led or -owned MSMEs and those engaged in climate finance. said ADB’s Vice-President for Market Solutions Bhargav Dasgupta.
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. MSMEs constitute the spinal structure of our local economy. His Worship, Mayor Richard Vernon.
Tucked between the giant economies of China and India, the Kingdom of Bhutan has traditionally kept itself isolated, relying heavily on rural agriculture and local industries. Yet, as the country opens its doors to the world with a commitment to sustainability, it is also embracing digital innovation to reshape its financial sector.
Mastercard has once again collaborated with foodpanda, a Delivery Hero-owned online food and grocery delivery platform, to boost digital payment 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%
As digitalisation reshapes finance, the industry is transitioning beyond traditional open banking into a comprehensive open finance model, enhancing both access and transparency for consumers. Fratini Passi, with 30 years of expertise in financial technology, strategically steers CBI’s developments.
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.
This is embedded finance at work, and it’s quietly transforming the way we interact with money – without most of us even realising it. Wait, What’s Embedded Finance? If you’ve never heard of embedded finance , don’t worry. Why Is Embedded Finance Such A Big Deal? You’re probably using it every day.
The current cross-border payment system imposes high costs on businesses and economies worldwide, stifling economic potential and limiting financialinclusivity. Challenges to financialinclusivity Cross-border payment challenges disproportionately affect low-income individuals and small businesses in developing regions.
This strategic expansion aims to boost financialinclusion by providing efficient, affordable cross-border payment solutions to one of the world’s fastest-growing economic regions. Remittances are vital in supporting households, small businesses, and local economies across Africa. In 2023, remittances accounted for nearly 1.5
The regions strong fundamentals, coupled with a growing digital economy, promise continued growth and innovation in the coming years, a new report by Royal Park Partners (RPP), a fintech-focused corporate finance advisory firm, says. These platforms are bridging credit gaps, playing a crucial role in the supporting local economies.
The report highlights key milestones, insights, and the organizations transition into an independent foundation, further strengthening its ability to drive financialinclusion across the continent.
Vietnam is undergoing a transformation and moving towards becoming a cashless economy, a shift that has been driven by innovative financial solutions and public initiatives, a new report by Chiming, a market research firm focusing on Vietnam and Indonesia, shows. rate in 2023.
To promote financialinclusion and accessibility, TerraPay , a leading global money movement company, has partnered with Yape , the superapp of Peru. The demand for efficient and user-friendly financial solutions is paramount, especially among the unbanked population, which stands at approximately 40% of the adult population in Peru.
“This alliance highlights our dedication to advancing financialinclusion and economic development in the region. The post Mastercard Collaborates With New Africa Technology to Launch Fintech Card in Senegal, Côte D’ivoire, and Benin appeared first on FF News | Fintech Finance.
The collaboration will advance financialinclusion and contribute to an even more accessible digital economy by facilitating the movement of funds from Jordan to 37 countries. Mastercard focuses on building robust payment ecosystems and advancing the digital economy across the Middle East.
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.
In a strategic move to accelerate digital payments, 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. quadrillion, an 80% surge that reflects the expanding reach of digital financial services.
I hope that today’s call to action acts as a pivotal moment in driving financialinclusion across the sector. There is more we can do to ensure everyone can manage their finances with confidence and independence. This often leaves people feeling isolated from mainstream financial services and increases social exclusion.
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. AI’s ability to revolutionise money management is undeniable.
The collaboration will create a safe, inclusivefinancial ecosystem that bridges markets, enabling swift reliable payments across borders and offers financial empowerment tools to millions of Africans and businesses.
Remittances play a vital role in the Ghanaian economy, and our goal is to make the process as seamless as possible for Ghanaians in the diaspora looking to send money home. This approval is a testament to our ongoing commitment to supporting financialinclusion and economic growth in Africa.
This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. As the space rapidly develops, we look to highlight the latest developments, initiatives and challenges embedded finance has to offer and overcome across the globe.
Seventeen cities across Colombia will now have access to inDrive Money, a service that offers income-based financing to drivers, as inDrive , the global mobility and urban services platform expands its service into the country. This will depend on their activity on the inDrive app.
From digital payments to decentralised finance (DeFi), these companies are solving real-world challenges like financialinclusion and cross-border transactions, while setting new global standards for innovation. Atome Financial specialises in consumer financing, ADVANCE.AI billion insurtech Matrixport 1.05
Funding Societies | Modalku, a Southeast Asian SME digital finance platform, has secured an equity investment from Asia-focused venture capital firm Gobi Partners. The investment by Gobi supports Funding Societies financial stability and expansion beyond SME financing into payments since 2022. The sum was not disclosed.
Africas digital payments economy is set to grow from strength to strength according to a Mastercard-commissioned report by Genesis Analytics stating that the digital payments economy is expected to reach $1.5 trillion by 2030.
Paysend and Mastercard have partnered to launch Paysend Libre in Mexico in a move to drive financialinclusion in a region where the majority of the population is still underbanked or unbanked. Paysend is taking a lead in financialinclusion throughout the LATAM (Latin American) Region with the launch of Paysend Libre in Mexico.
The Bank’s fintech investment underscores its commitment to driving digital transformation and fostering financialinclusion across key markets. ” Amir Fardghassemi, Founder and CEO of Jingle Pay, said: “Partnering with Bank Alfalah empowers us to scale our vision of inclusivefinance.
Payment trends in Asia are changing how businesses and people transact from the digital-first economies of China and Singapore to the quickly changing markets of Indonesia and Vietnam. This article explores five key trends changing how we pay today while pushing the narrative for a more efficient, powerful financial ecosystem in Asia.
As digital wallets reshape finance and big tech challenges traditional banks, who will control the future of money? CEO Linda Yaccarino framed the move as a leap forward, but the real story is bigger: tech giants are no longer just facilitating payments, theyre actively reshaping the financial industry. The result?
Oradian, a fintech firm based in Makati, Manila , has notably improved financial sector access, especially in Southeast Asia. They were key contributors in a panel at the Singapore Fintech Festival , discussing the role of profitable scalability in financialinclusion.
From open banking to open finance and beyond: The future of financial data-sharing March 18 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? The evolution of open banking into open finance, examining regional regulatory approaches and adoption trends. Why is it important?
The latest to do so is PayJoy , the financial service provider to the underserved in emerging markets, as it reveals how smartphones are enabling working mothers in Mexico to have financial stability. It looks at how access to smartphones impacts their work, family life, and financial stability.
Simon Baptist, Principal Economist, Visa Asia Pacific, added: Vietnam’s economy will yet again be one of Asia’s fastest-growing in 2025. Visa is committed to innovative solutions that support this evolving landscape, helping businesses and consumers thrive in the digital economy.
Financial exclusion: A global challenge According to a report by the World Bank , despite rapid advancements in the digital finance ecosystem, 1.4 AI plays a crucial role in fraud detection and compliance, ensuring that financialinclusion does not come at the cost of security. billion adults worldwide remain unbanked.
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).
Payments innovation in Indonesia holds significant promise for contributing to the nation’s economy and helping bring about a more inclusive, accessible, and equitable financial system. Indonesia also has the largest digital economy in Southeast Asia, a sector that reached a gross merchandise value of US$82 billion in 2023.
.” Cedric N’guessan, Executive for Payment and E-commerce at MTN Group Fintech added, “This collaboration with Network International is pivotal in enhancing financialinclusion across Africa and beyond.
The mastermind behind the accelerator programme Base Camp, Outlier Ventures , the Web3 accelerator, has announced that Bando , Berry Investing , Fact Finance , Loula and IDENTI will be taking part in its Latin America (LatAm) edition. Fact Finance, Brazil Fact Finance bridges real-world data to the blockchain.
Combining Mashreq’s regional success with Mastercard’s global and Pakistan expertise, this collaboration will introduce innovative digital propositions to individuals and businesses in Pakistan with the aim of bolstering the digital economy, accelerating digital payment adoption and driving financialinclusion in Pakistan.
By displaying real-time rates based on what other users are willing to pay, the platform creates a liquid ecosystem, lowers remittance costs, and empowers users to trade confidently, allowing greater financialinclusion. Our growth in a short period of time reflects the underlying demand for better global payments.
It means our product strategy consistently aligns with key challenges and opportunities in Africa, addressing issues like financial literacy, seamless and safe transacting, fragmented payment systems, and the high cost of infrastructure upgrades in traditional banking.
This strategic milestone underscores Mastercards commitment to supporting the country’s growing digital economy by providing innovative financial products and services tailored to the market. The post Mastercard Reaffirms Commitment to Ghana With New Office in Accra appeared first on FF News | Fintech Finance.
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