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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 bolttech Valuation: $2.1 Coda Valuation: $2.5
PayMint , a leading financial technology company, has announced that it has obtained final approval from the Central Bank of Egypt to launch its first Meeza prepaid cards in partnership with Abu Dhabi Islamic Bank Egypt (ADIB-Egypt).
Egyptian fintech PayMint has received final approval from the Central Bank of Egypt to launch its first ‘Meeza’ prepaid cards in partnership with Abu Dhabi Islamic Bank (ADIB). PayMint plans for the new Meeza prepaid cards to enable its customers to carry out purchases, cash withdrawals, and online shopping in Egypt.
In many regions, they create jobs, drive innovation, and stimulate local economies. Yet, they often face financial challenges, struggling to access credit, manage cash flow, and navigate complex financial systems. Traditional banks often view SMEs as high-risk due to limited credit history and collateral.
MTN Mobile Money (U) Limited, in partnership with Mastercard , Diamond Trust Bank and Network International, has launched the Virtual Card by MoMo, an innovative payment solution designed to enable MTN MoMo subscribers to perform secure online transactions without needing a physical card or bank account.
As 2024 draws to a close, it’s been an eventful year for the payments industry, marked by rapid innovation, unexpected challenges, and evolving consumer expectations. This incident disrupted operations across airlines, banks, and media outlets, resulting in billions in losses for major corporations.
In simple, layman’s terms, embedded finance is when financial services – like payments, loans, or insurance – are integrated directly into non-financial platforms. The region has become a hotbed for embedded finance, thanks to its mobile-first economy and digitally savvy population. What’s Next?
With in-depth data covering global market penetration, transaction values, and consumer preferences, the insights presented here will empower decision-makers to refine their strategies, enhance operational efficiency, and capitalise on the growing demand for innovative payment solutions.
The meteoric ascent of Brazilian neobank Nubank has sent shockwaves through the Latin American banking industry. As digital banks in the Asia Pacific (APAC) region aim to replicate this success, there are valuable lessons to be learned from the unconventional Nubank approach to banking.
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.
Today, fintech and digital innovations are becoming key drivers in their continued growth, each nation adopting its own approach to integrate these technologies into their economic sectors. per cent Central Bank of Armenia (CBA) Armenia’s growth has been driven in part by its young, tech-savvy population.
Before that, we were talking about Ireland’s Central Bank and its search for top fintech talent, new investment in mobile payments in the Philippines , and the pace of digital transformation in India’s financial services sector. You joined TBC a few years after the bank expanded to Uzbekistan. Why Uzbekistan?
Growth is driven by financialinclusion, fintech innovation, and regulatory reforms. However, mobile payments, digital wallets, and real-time transactions are broadening financial access. How does the rise of real-time payments impact traditional banking in Latin America? trillion by 2027. Mexico 6.4.
Cooperative Bank of Oromia and Mastercard have unveiled a groundbreaking collaboration with the launch of the Coopbank Prepaid Mastercard and the introduction of the Community Pass technology in Ethiopia. Transactions will be effortless through a dedicated mobile application, providing efficient card management capabilities.
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. per cent this year and six per cent next year, according to the Asian Development Bank.
Having looked at everything in the banking-as-a-service (BaaS) space and online marketplaces, our final focus in April is on embedded finance in e-commerce and the checkout experience. We hear from industry experts on how embedded finance ensures the checkout experience is financiallyinclusive.
Thailand is moving closer to welcoming its first virtual banks, with the Bank of Thailand (BOT) currently accepting applications for the virtual banking license. With the deadline looming on the 19th of September 2024, speculations are rife for Thailand’s virtual banking license applicants.
Moniepoint , a Nigeria-based fintech offering an all-in-one banking, credit, and cross-border payment solution for African businesses and their customers, is on a mission to help businesses and individuals digitise their operations. to provide infrastructure and payment solutions for banks and financial institutions.
Hibret Bank , in collaboration with Mastercard , has announced the launch of the Prepaid Hibir Mastercard services, marking a significant milestone in the journey towards financial digitization in Ethiopia.
NOW Money , one of the leading inclusive digital payroll and banking platform for migrant workers, today announced its new strategic partnership with Mastercard , a global technology company in the payments industry. Customers can handle payments, transfers, and other financial operations directly from their mobile phones.
billion) in 2022, according to Thant Mam Hein, assistant manager of sustainability at uab bank. Reports also show that approximately 50% of Myanmar’s adult population had a bank account in 2020, reflecting growth in financialinclusion and creating new opportunities for businesses and individuals. trillion (US$3.8
Not so many years ago, Filipinos had to visit bank branches or ATMs to transfer money and manage their accounts. A complex set of geographic and institutional barriers, including the fragmentation of Filipinos across over 7,000 islands, and low levels of financial literacy, are also hampering the use of financial services.
Vietnam’s digital finance landscape is undergoing a notable shift as new players emerge, established ones fade, and traditional banks rise to prominence, a new report by Decision Lab shows. However, by Q4 2023, Moca had slipped out of the top rankings, replaced by mobile apps from traditional banks.
Drawing on comprehensive data from the 14 largest banking groups in Great Britain and Northern Ireland, the insights provide an in-depth examination of the tactics fraudsters use, the platforms they exploit, and the devastating impact these scams have on victims.
Drawing on comprehensive data from the 14 largest banking groups in Great Britain and Northern Ireland, the insights provide an in-depth examination of the tactics fraudsters use, the platforms they exploit, and the devastating impact these scams have on victims. Whilst scam values decreased overall, rates and losses remain substantial.
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.
These markets, often characterised by underdeveloped financial infrastructure , benefit significantly from fintech innovations. This article delves into how fintech is reshaping financial services in these regions. We will explore success stories, the pivotal role of mobile money , and the unique challenges faced.
Over the years, weve covered a broad range of fintech topics from digital banking to decentralised finance , regtech , green fintech , and more. Fintech, or financial technology, is the integration of technology into financial services. This shift affects banks, insurers, asset managers, and regulators alike.
Orange Middle East and Africa (OMEA) ( www.Orange.com ) and Mastercard have announced a strategic partnership to expand access to mobilefinancial services across Sub-Saharan Africa. Orange Money customers will be able to instantly obtain a virtual or physical debit card, linked directly to their Orange Money wallets.
Sherrod Brown (D-Ohio) asked, “Why on earth would we trust big tech with our banking system?”. After all, it takes days to settle retail bank transfers. dollar would offer a seamless way to integrate with existing banking and payment functions, distributing funds to digital wallets. But Giancarlo said a digital U.S.
Are digital first banks in Asia poised to lead a disruptive charge against well-entrenched, established commercial banks? In the traditional banking sphere globally, but especially true in Asia, there is a considerable proportion of unbanked and underbanked populations who lack complete or any access to banking services.
SecurityTech company Giesecke+Devrient (G+D) is making digital payments independent of online connectivity. The token-based payment solution G+D Filia® Unplugged enables consecutive, secure offline payment transactions anytime and anywhere, bridging the gap between seamless online and offline payments without a reliable internet connection.
PalmPay ( www.PalmPay.com ), a leading digital bank and fintech platform focused on emerging markets, has launched the PalmPay Debit Card in Nigeria in partnership with Verve, Africa’s largest domestic card scheme. “ said Sofia Zab, Chief Marketing Officer at PalmPay. With over 35 million users and a growing network of 1.1
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.
In the landscape of commerce, mobile payments have emerged as a disruptive force, altering the way people engage in financial transactions. As technology advances and consumer preferences evolve, the trajectory of mobile payments promises unparalleled convenience, robust security, and seamless integration into our daily lives.
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.
Confronted by shifting factors such as tech advancements, generative AI, high interest rates, increased institutional oversight, and evolving customer expectations — the best banks must adapt their business and operating models in 2024, including in Asia. CHINA #1 China Merchants Bank China Merchants Bank Co.,
The customer-merchant Payment Service Provider (PSP) takes charge of the approval process through National Payments Corporation of India (NPCI), swiftly debiting the money from the issuer bank and crediting it to the merchant’s acquiring bank in under 60 seconds. Fortunately, there’s a light at the end of this tunnel!
Ralf Germer, CEO and co-founder, PagBrasil Pix has been a giant windfall for Brazil and is now responsible for 90 per cent of bank transactions in Brazil. Through this collaboration, Bancard will offer this service to banks in Paraguay, enhancing convenience and financial accessibility for Paraguayan travellers.
BKN301 Group , a London-based leading digital payments and Banking-as-a-Service (BaaS) provider in the MENA region, unveiled its latest innovative payment solution, ‘301 Retail Account.’ The solution will further help promote financialinclusion and economic progress in the region.
Cash Usage Decline : The World Bank reported that cash usage in advanced economies declined by nearly 50% during the pandemic, with consumers opting for digital and contactless payment methods instead. Consumers quickly embraced mobile wallets and tap-to-pay cards, driven by the desire to minimize physical contact during transactions.
Obtaining the operating authorization from the National Bank of Romania (BNR), on October 1, 2024, six months after submitting the authorization application, allows the start of operations and the continuation of preparations for the launch of the system. The BLIK online payment process is quick and intuitive. million by 2029.
Uganda is rapidly emerging as a key player in the fintech and financial services sector within Africa, buoyed by innovations in mobile money and digital banking. With Kampala as its capital and financial hub, the country is working through various economic challenges, including health crises as well as strict lockdowns.
Orange Middle East and Africa is strategically partnering with global payments giant Mastercard to expand access to mobilefinancial services across Sub-Saharan Africa. Only 48 per cent of the African adult population is banked, according to the African Digital Banking Transformation Report.
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