The mobile wallet is having a transformative effect on people’s lives in developing countries, bringing safer, faster, easier financial services to the people who need it most
Kenya Bankers Association (KBA) has launched its real-time interbank switch, PesaLink, and kicked off a phased rollout of the digital payments platform. The product has been in the making since 2013, when KBA member banks decided to create their own industrywide switch to rival the M-Pesa services. KBA vice-chairman John Gachora says PesaLink is “proof […]
Telecoms company Millicom has stepped up its push to gain ground for its mobile money service in the Tanzania as competition heats up between operators in the region
Why are different parts of Africa experiencing widely different levels of success with mobile banking, despite years of experience in Kenya? Panellists at the IPS conference in London offered a range of explanations
Mobile money service M-Pesa has launched in Romania, bringing an idea hugely successful in Kenya to a European Union member state for the first time.
Standard Chartered has launched a mobile wallet service targeted at corporate clients in Kenya. The service has been developed in partnership with Safaricom, which operates the mobile money transfer service M-Pesa. The bank hopes the deal will herald the start of a major drive to open up financial inclusion in emerging markets.
Payment processing firm Visa Europe has introduced a service allowing consumers to make mobile payments across the region immediately and using any European currency. Meanwhile in India, popular money transfer and payment service M-Pesa has now been fully launched. Visa Europe’s Personal Payments service enables Visa credit, debit or prepaid card users to accept payments […]
The emergence of alternative payments providers such as PayPal and the growth of mobile payments systems such as M-Pesa should be seen as a major opportunity for banks, not a threat, according to Ron van Wezel, global head of emerging payment streams at Deutsche Bank.
The M-Pesa mobile money service is broadening out to provide interest-bearing deposit accounts and micro loans in Kenya under the brand M-Shwari.