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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.
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).
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.”
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
The offering includes a variety of real-time payment mechanisms, supporting bank account destinations, a global electronic card network, and digital wallets.
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
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.
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.
Wink Pay , a newly-launched digitalpayments brand in Lebanon, has collaborated with Visa , the world leader in digitalpayments, and Codebase Technologies to introduce the country’s first fully-digital onboarding and instant card issuance proposition for Visa prepaid virtual cards.
Despite the rise of digitalpayments, the resurgence of cash use in the UK signals that physical money, supported by emerging cashtech innovations, remains an essential part of the financial ecosystem. Digitalpayments have dominated the fintech conversation for years.
In APAC, financialinclusion has emerged as a driving force behind digital innovation. Many nations within the region have recognised the transformative potential of extending financial services to underserved populations. The absence of proper documentation and financial education presents significant hurdles.
These awards highlight companies and individuals whose fintech initiatives have contributed to advancing financial technology, promoting financialinclusion, and improving service delivery. Integrated with bank accounts and digital wallets in Pakistan, Hakeem provides customers with easy disbursement options.
3 Programmable Money: Advancing FinancialInclusion or Creating Walled Gardens, Powered by J.P. The discussion will cover key aspects such as the impact on cross-border payments, liquidity funding needs, and the broader implications for financialinclusion and the global movement of money.
du Pay , the advanced digitalpayment arm of du, made a significant move in advancing digitalpayments across the UAE by formalizing a partnership with Visa , a world leader in digitalpayments.
Bolstering FinancialInclusion to Unlock the Potential of MSMEs SGQR+ will enable acquirers to gain a more comprehensive view of a merchant’s cash flows, in contrast to closed-loop payment ecosystems like SGQR.
3 Programmable Money: Advancing FinancialInclusion or Creating Walled Gardens, Powered by J.P. The discussion will cover key aspects such as the impact on cross-border payments, liquidity funding needs, and the broader implications for financialinclusion and the global movement of money.
Mastercard said the new agreement will support a “major” expansion of the program to more participating banks and financial institutions. According to Mastercard electronic payments help underserved consumers and small businesses participate in the formal economy.
Orange Middle East and Africa is strategically partnering with global payments giant Mastercard to expand access to mobile financial services across Sub-Saharan Africa. The post Orange Partners With Mastercard to Expand Access Mobile Financial Services Across Sub-Saharan Africa appeared first on The Fintech Times.
Today, Visa (NYSE: V), a leading global payments technology company, and the GSMA Mobile for Development Foundation (GSMA Foundation) announced the launch of the Digital Finance for All (DFA) Initiative, furthering Visa’s decades-long efforts to increase access to the global economy for everyone, everywhere.
Beyond offering convenience, super apps also play a crucial role in addressing financialinclusion challenges. Platforms such as Grab and Gojek embed services like micro-lending and mobile payments, providing essential financial tools to communities that have been traditionally underserved by banks.
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.
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. How does the Argentinian digital wallet sector compare to that of the rest of the world?
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.
Evidence from countries that were early to adopt faster payments can provide important insights into the evolution of the US faster payments ecosystem. Attend this session to hear a discussion on financialinclusion, authentication, and consumer protections.
As this mode of payment becomes more prevalent, it necessitates the creation of regulatory frameworks that ensure the security and privacy of customer data. Moreover, open banking payments contribute to financialinclusivity, enabling underserved populations to access the formal financial system.
Revolutionizing ePayments: Fintechs as Catalysts for FinancialInclusion June 26, 2024, 11:00 MYT Embracing the digital transformation holds significant promise for Micro, Small, and Medium Enterprises (MSMEs) in Malaysia.
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