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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.
A handicrafts shop manager in Thimphu described the challenges posed by the lack of ATMs, credit card authorisation systems, and other financial infrastructure catering to international customers. In terms of financialinclusion, 76 per cent of the population had a savings bank account, and just over one-fifth had access to loans.
Kenyan fintech startup Leja has achieved remarkable growth, processing $2 billion in B2B payments since launching its B2B payments service in Kenya earlier this year. By leveraging its innovative data-driven credit scoring and payment solutions, Leja aims to drive revenue growth while advancing financialinclusion.
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 processes payment volumes exceeding $6.5trillion annually with over three billion cards in circulation.
In the years since then, Moniepoint has grown into an all-in-one financial ecosystem that serves 10 million businesses and individuals. The company powers most of the point of sale transactions in Nigeria and, via its subsidiaries, processes $17 billion a month for its customers.
This collaboration will support fintechs with the expertise, infrastructure, and rapid go-to-market capabilities needed to navigate the complexities of issuing cards unlocking new opportunities for financialinclusion and digital transformation.
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.
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. MSMEs constitute the spinal structure of our local economy.
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. High remittance fees have historically hindered financialinclusion in the region. to send USD 200.
Nigerian fintech Moniepoint has secured investment from digital payments giant Visa , enabling it to continue its mission to ensure financialinclusion for people across Africa. “Together, we aim to deepen financialinclusion, enabling SMEs to access the tools and resources they need to thrive in an increasingly digital economy.
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.
He also emphasized the companys commitment to innovation by developing advanced financial services, which supports national economic growth by facilitating payment processes and simplifying business transactions.
The CMS aims to enhance payment processing in Vietnam by leveraging cloud infrastructure, allowing for secure and streamlined operations. Visa Cloud Connect enables financial institutions to connect to Visa’s network through the cloud, offering improved scalability, reduced operational costs, and faster market access.
Patricia Sullivan “The payments business is currently undergoing an extensive period of disruption, primarily due to the rapid advancement of technology and drive for greater financialinclusion and transparency. said Humphrey Valenbreder, Chief Executive Officer of Partior.
” Legacy credit bureaus have historically been the only gatekeepers to consumer credit information, but with this information updated in fixed formats and inflexible processes every 30-90 days, there is a significant delay between financial actions and being reflected in credit profiles.
To achieve this, the PoC focused on three key processes: issuance, redemption, and fund transfers. The processes included converting reserve account balances into digital Rupiah and vice versa, ensuring seamless interoperability with Bank Indonesias Real-Time Gross Settlement (BI-RTGS) system.
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.
Cheque System: The cheque emerged as a formal payment instrument, requiring physical movement and manual clearing processes. Post-Independence (1947 - 1990s): Building the Foundation After independence, India focused on strengthening its financial infrastructure and extending banking services.
Since its launch in October 2024, Protect Plus has covered over 51,000 customers and processed more than 65,000 insured transactions. The card allows users to manage various expenses, including e-wallet top-ups and healthcare payments, aiming to enhance financialinclusion in a market with low credit card penetration.
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.
This system allows for direct payments at approximately 100 participating merchants, further streamlining the payment process and promoting the adoption of digital currencies within Thailand. Users can make instant mobile payments via a closed-loop QR code system. The Rubie Wallet app is available for download here.
Cake now serves nearly 5 million customers and processes an average of 400,000 credit applications each month. It has focused on sustainable growth by meeting the needs of its target audience with a wide range of accessible financial products and services.
Thoughtworks supported GXS Group in strengthening its engineering processes to enhance product development and scalability. Rajat Malhotra “We have bold ambitions to improve financialinclusion and support economic growth for our customers across the region.
Episode Six (E6), a leading global provider of enterprise-grade payment processing and ledger infrastructure, today announces a partnership with payment solutions and services provider Secupay to provide asylum seekers with payment cards, enabling them access to financial support from the German Government.
Cross-border payment hub, Tranglo , has expanded its footprint in Africa, now supporting payouts in Ethiopia, Kenya, Liberia, Madagascar, Mali, Senegal, and Zambia as it continues to aim to boost financialinclusion by providing efficient, affordable cross-border payment solutions to the region. per cent in 2024.
This presents a significant opportunity for mobile-first financial solutions to bridge the gap in financialinclusion by providing digital banking, payments, and credit access to those traditionally excluded from the formal financial system. trillion business opportunity by 2025.
This latest offering strengthens MTNs commitment to driving financialinclusion and enhancing digital accessibility across Uganda, aligning with the companys broader mission of enabling a digital economy for all. The Virtual Card by MoMo offers a simple and user-friendly application process.
Yet, they often face financial challenges, struggling to access credit, manage cash flow, and navigate complex financial systems. From innovative lending platforms to advanced payment processing, fintech is enabling them to access growth opportunities and thrive in today’s competitive markets.
Das added that improved liquidity due to streamlined settlement processes will reduce the need for intermediary currencies and lower the transaction costs. ” “The key point is that for CBDCs to aid financialinclusion, they need to be a digital equivalent to cash.
Additionally, the project will fully automate BCR’s international transaction processes, providing greater speed, security, and traceability in cross-border payments. The post Banco de Costa Rica Selects Finastra to Transform its International Transaction Automation Processes appeared first on FF News | Fintech Finance.
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.
Founded in 2021 by Ife Johnson and Justin Ziegler , Juicyway enables individuals and businesses to send, receive, and process payments globally. Licensed in Nigeria, Canada, the USA, and the UK, Juicyway has processed $1.3 billion across 25,000 transactions, and 4,000 customers, Juicyway has proven its value and efficiency.
To promote financialinclusion and accessibility, TerraPay , a leading global money movement company, has partnered with Yape , the superapp of Peru. The key benefits are: Immediate Access: Yape users will no longer need to visit physical branches to receive international transfers, allowing for a more convenient and efficient process.
As Asian markets surge, they face the dual challenge of safeguarding digital infrastructure while ensuring financialinclusion and bridging technological gaps between advanced and developing economies. The shift toward digitised payments brings heightened concerns about cybersecurity, fraud, and regulatory compliance.
This new collaboration arises in a context where financialinclusion still faces significant challenges. According to the 2024 National Survey of FinancialInclusion (ENIF) recently published by INEGI, although 71.8% percentage points.
Unlimit’s co-brand solution will not only look to enable businesses to significantly reduce the time it takes to launch a white-label financial product, in comparison to existing market solutions, but will also simplify the integration process, thanks to its API-driven technology.
We often explore how fintechs are changing the banking and payments landscapes, and sometimes look into how their solutions are supporting financialinclusion and helping people develop healthy financial habits. Sending cross-border payments, for example, often comes with heavy processing costs and conversion fees.
Together, Trust Bank and Terrapay are offering students in Bangladesh an alternative to the traditional payment system through a secure, completely digital and frictionless process for international transactions. This also addresses the increasing demand for faster, more efficient cross-border payments.
Usage : RTP systems are growing rapidly; India’s UPI processed 74 billion transactions in 2023, while Zelle in the U.S. China’s digital yuan (e-CNY), for instance, has already processed over $250 billion in transactions as of 2023. Popular Examples : Interac e-Transfer (Canada) , Zelle (U.S.), Faster Payments (U.K.), handled $1.6
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. Each plays a key role in transforming how Indonesians save, spend, invest, and access financial services.
This innovative solution is the first of its kind in Vietnam and is now available on Cake’s platform, significantly advancing payment processing modernization. It underscores Visa’s commitment to supporting fintech innovation and financialinclusion in the region.”
Simplifying personalisation of the payment process is a vital step in the journey towards total financialinclusivity. At Ecommpay we are committed to making payments accessible for all merchants and their customers, added Moshe Winegarten.
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