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While Somalia’s financial sector has seen remarkable growth in recent years, a significant portion of the population remains underserved or unbanked. The demand for secure, fast, and modern payment solutions has been pressing.
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While Somalia’s financial sector has seen remarkable growth in recent years, a significant portion of the population remains underserved or unbanked. The demand for secure, fast, and modern payment solutions has been pressing.
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Whether we will see these services gain traction is tied to what many believe to be a major hurdle–interoperability. FedNow may not interoperate with RTP, and it doesn't seem to be a priority for either. 100B/yr US alone – sticky, underserved, corporate/gov't load (no consumer).
Its fair to say that traditional financial systems left many people and communities underserved, but LPMsfrom mobile wallets in Africa to RTP schemes like UPI in Indiabridge this gap, and theyre empowering billions of consumers to participate in the digital economy. And thats a really positive development.
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