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mohammed_ab

'Smart' insurance helps poor farmers to cut risk | Financial Times - 1 views

www.ft.com/...46-d886-11e8-aa22-36538487e3d0

WorldCover Blockchain CropFarmers Insurance

shared by mohammed_ab on 11 Feb 21 - No Cached
  • The policies or “smart contracts” currently under development are based on blockchain, the distributed ledger technology that underpins cryptocurrencies like bitcoin. This avoids the need for paperwork and means payouts can be triggered automatically when certain conditions are met, such as a specific number of days of drought. The system uses high-resolution satellite images to detect rainfall and plant growth data.Conventional crop insurance is too expensive for more than 500m small farmers worldwide, says Christopher Sheehan, founder and chief executive of US-based WorldCover, which developed the system. “But with machine learning and blockchain technology, we can process these data very cheaply to produce a really simple crop insurance product with premiums of $20 to $50 for a farmer who might only be earning $3,000 a year.” Payments can be made using mobile money transfer services such as M-Pesa.
  • mohammed_ab on 11 Feb 21
     
    I think that this article highlights the main benefits of blockchain technology on the insurance industry. It shows how blockchain has enabled easy and quick transactions to take place in the insurance world especially crop insurance. This technology has enabled companies like WorldCover to offer cheap insurance contracts for crop farmers to help them hedge against weather risks.
mehdi-ezzaoui

The promise of unicorns | fDi Intelligence - Your source for foreign direct investment ... - 1 views

www.fdiintelligence.com/...79143

FAWRY Fintech Egypt e-payments

shared by mehdi-ezzaoui on 12 Feb 21 - No Cached
  • Although Fawry, Egypt’s top e-payment platform and leading fintech, became Africa’s latest ‘unicorn’ this year via a listing on an African bourse, it will not be the last to emerge from the country’s burgeoning tech scene, according to the International Finance Corporation (IFC). “Egypt will produce further unicorns one day, absolutely,” says Walid Labadi, the IFC’s country manager for Egypt, Libya and Yemen. “We fundamentally believe in the power of the entrepreneurial spirit and its ability to address fundamental market needs, which will eventually create significant economic value and can become a driver for creating future entrepreneurs. Advertisement
  • Founded in 2008 by Ashraf Sabry and Mohamed Okasha, the company listed on the country’s main bourse, the Egyptian Exchange, in August 2019 and was valued at $275m. However, at the start of October this year, its valuation surpassed more than $1bn.It is the third African start-up to reach unicorn status and the first one to do so after going public on an African stock exchange.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      Fawry paved the way for other Egyptian companies and became a leading example to them just like Jumia, the first unicorn out of Africa, was for african companies.
  • Fawry offers an online payment gateway for business owners to transact with customers via cash, credit cards and e-wallets. It has helped to transform the Egyptian economy by reducing the reliance on cash, lowering costs and offering a more convenient way to pay. Its good fortune is partly due to the Covid-19 pandemic that prompted many people to place a high demand on its e-payment solutions. Its revenue for the first nine months of 2020 surged to E£892m ($57m), a 45% jump on the same period last year. 
  • hichamachir on 12 Feb 21
     
    Competition can be a problem for Fawry in the future. The world is heading towards digitalization and will create many opportunities for other companies. I suggest for Fawry to build a strategy that treat the future of digitalization in order to be always the top company in Egypt.
  • mehdi-ezzaoui on 13 Feb 21
     
    Fawry offers an online payment gateway for business owners to transact with customers via cash, credit cards and e-wallets. It has helped to transform the Egyptian economy by reducing the reliance on cash, lowering costs and offering a more convenient way to pay
hibaerrai

Ghana's Farmers Use Mobile Apps to Skip the Middleman - 0 views

nymag.com/...ghana-farmers-agrocenta.html

AgroCenta Agritech Fintech Ghana Africa Buyers Agropay

shared by hibaerrai on 13 Feb 21 - No Cached
  • “The lack of an access to a structured market results in smallholder farmers being forced to sell to middlemen who buy at ridiculously exploitative prices,” writes the team at AgroCenta, a mobile marketplace for Ghanaian farmers, on its website. Ghanaian farmers don’t have access to buyers in faraway cities, or access to truckers who can transport their goods to a central market. The middlemen provide a service, but it hardly benefits the farmers at all. The middlemen have all the power, and with a largely illiterate population of farmers, all the leverage. AgroCenta, founded by two former employees of Esoko, a financial assistance app, is a sort of Swiss Army knife of tools to help address those issues. It’s not cutting out the middlemen, not yet, but it places some more power in the hands of farmers, with the goal of increasing that power. Within that knife are four platforms: AgroTrade, AgroPay, Truckr, and AgroInfo.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      This agritech help farmers have more power in the market and have more access to other buyers in other cities, and that through the platform.
kenza_abdelhaq

EthioPay Mojaloop Case Study - DFS Lab - 1 views

dfslab.net/ethiopay-mojaloop-case-study

Ethiopay Ethiopia Payments Service

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • EthioPay wanted to continue adding value for the Ethiopian banking sector through additional services and products. They wanted to add a number of different switch use cases (e.g. merchants, CICO, etc) to their ATM switch.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      This is probably an efficient and scalable way to easily interconnect the different services in the ethiopian banking sector
  • They conducted a technical evaluation of the Mojaloop platform. While Mojaloop seemed to provide the required functionality, for a live deployment it lacked definition around auxiliary requirements to move into production.
  • EthioPay wanted to continue adding value for the Ethiopian banking sector through additional services and products. They wanted to add a number of different switch use cases (e.g. merchants, CICO, etc) to their ATM switch.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt is important because nowadays the development of companies for consumer products allows the huge opportunity for the expansion of electronic payments because it is assumed that consumers of electronic payments are indeed end-users and also that the majority of payouts are Customers to Business. Expanding enterprises also provide opportunities for big potential Business to Business payments.
  • ...2 more annotations...
  • What they want EthioPay wanted to continue adding value for the Ethiopian banking sector through additional services and products. They wanted to add a number of different switch use cases (e.g. merchants, CICO, etc) to their ATM switch. What they built They conducted a technical evaluation of the Mojaloop platform. While Mojaloop seemed to provide the required functionality, for a live deployment it lacked definition around auxiliary requirements to move into production. How Mojaloop helps With over 40 million phone subscribers and most banks having their own mobile banking system in Ethiopia, there is no mobile based inter-bank fund transfer. Mojaloop is potentially an efficient and scalable way to easily interconnect these disparate services.
    • ghtazi
      ghtazi on 13 Feb 21
       
      in this excerpt, we can see that Ethiopay wants to add value to the baking sector by adding new products and services. they also do a technical evaluation of the Mojaloop platform, which is the one that provides the required functionalities to the production. Last but not least it shows us that There is no mobile-based inter-bank fund transfer for 40 million telephone subscribers and most banks in Ethiopia have their own mobile banking system.
  • EthioPay (ETS) is owned by a consortium of Ethiopian banks and operates a central switching platform for ATMs throughout the country.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Ethiopay wanted to expand its services by implementing the platform Mojaloop which will interconnect disparate services.
kenza_abdelhaq

TPAY Mobile Company Profile: Funding & Investors | PitchBook - 0 views

pitchbook.com/...233058-34

TPay Mobile Algeria payments

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • Developer of an open mobile payment platform in Dubai. The company's platform leverages the mobile network operator billing relationship and collection network to allow mobile phone users to buy online products and services using only their cell phone number with the purchase costs being added to their cell phone bill or deducted from their balance, enabling telecom operators and online merchants to get a seamless Direct Carrier Billing (DCB) ecosystem.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Services offered by Tpay Mobile.
  • kenza_abdelhaq on 12 Feb 21
     
    "Developer of an open mobile payment platform in Dubai. The company's platform leverages the mobile network operator billing relationship and collection network to allow mobile phone users to buy online products and services using only their cell phone number with the purchase costs being added to their cell phone bill or deducted from their balance, enabling telecom operators and online merchants to get a seamless Direct Carrier Billing (DCB) ecosystem."
nouhaila_zaki

Egypt: Fawry expected to join FTSE, MSCI Indices in 2021 | african markets - 0 views

www.african-markets.com/...join-ftse-msci-indices-in-2021

Fawry Egypt Net Profit Stock Market

shared by nouhaila_zaki on 13 Feb 21 - No Cached
  • Fawry for Banking and Payment Technology Services (FWRY) is forecast to join the FTSE and MSCI emerging markets indices in September 2021, according to a research by Arqaam Capital. The company meets the liquidity requirements, which ensures inclusion in the FTSE EM All Cap Index’s next rebalancing on 21 September, with a weight of 0.0082%. In January, Fawry’s board of directors approved to subscribe to the capital increase of Fawry Plus, as the company will be allowed to subscribe up to EGP 35 million. During the first nine months of 2020, Fawry achieved a consolidated net profit before minority interest of EGP 119.2 million.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects Fawry's position in the stock market and how its liquidity allows it to perhaps be included in the FTSE EM All Cap Index's nxt rebalancing. Moreover, the article introduces the consolidated net profit secured by Fawry in the first nine months of 2020, which amounts to EGP 119.2 million.
  • nouhaila_zaki on 13 Feb 21
     
    "Fawry for Banking and Payment Technology Services (FWRY) is forecast to join the FTSE and MSCI emerging markets indices in September 2021, according to a research by Arqaam Capital.   The company meets the liquidity requirements, which ensures inclusion in the FTSE EM All Cap Index's next rebalancing on 21 September, with a weight of 0.0082%. In January, Fawry's board of directors approved to subscribe to the capital increase of Fawry Plus, as the company will be allowed to subscribe up to EGP 35 million.   During the first nine months of 2020, Fawry achieved a consolidated net profit before minority interest of EGP 119.2 million. "
mohammed_ab

Continuing Its Mission Expansion, Kiva Announces A Fund For Unbanked Refugees - 0 views

www.forbes.com/...s-a-fund-for-unbanked-refugees

Kiva Crowdfunding Social Impact

shared by mohammed_ab on 13 Feb 21 - No Cached
  • While refugees need immediate humanitarian aid, of course, they generally struggle to find work or start a business over the long-term. That’s, in part, because financial institutions usually won’t lend to them. The fund also will be the first institutional investment opportunity from Kiva Capital Management, an asset manager slated to launch as a subsidiary later this year. The organization describes it as "impact-first", that is, returns will be concessionary.
  • mohammed_ab on 13 Feb 21
     
    Kiva is doing a great job by opting for social purposes because these kinds of projects usually help improve the company's reputation.
omarlahmidi

Ethiopia launches mobile money schemes to extend banking reach | Reuters - 0 views

www.reuters.com/...-banking-idUSL6N0VE44020150204

Belcash Africa MobilePayment

shared by omarlahmidi on 13 Feb 21 - No Cached
  • BelCash’s helloCash service could have 2-3 million users this year and 10 million by 2017 or 2018, the firm’s chief executive Vince Diop said, adding that BelCash would receive a fee for each transaction made.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt is important because it shows how effective belcash is. and how an African country is willing to ensure financial inclusion and increase deposits by using financial technology.
  • BelCash’s helloCash service could have 2-3 million users this year and 10 million by 2017 or 2018, the firm’s chief executive Vince Diop said, adding that BelCash would receive a fee for each transaction made.
    • ghtazi
      ghtazi on 13 Feb 21
       
      in this excerpt, we can see that the service can have 10 million users by 2017 or 2018. we can aslo see the belcash would receive a fee for each transaction made.
  • Netherlands-based BelCash is offering a technology called helloCash, while MOSS ICT, mainly owned by an Ireland-based firm, is rolling out M-Birr in the nation of 96 million people.In both cases, Ethiopian banks and institutions will offer the service to customers and hold the cash deposited, in line with government policy that bars foreign firms or banks from investing in the financial sector or the telecoms industry.
    • nourserghini
      nourserghini on 13 Feb 21
       
      This article discusses the case of Belcash and M-Birr as two fintechs offering similar services which can lead us to say that M-Birr is a competitor of Belcash in Ethiopia.
  • ...2 more annotations...
  • Bankers say Ethiopia has no more than 1,500 ATM cash machines, while there was just over 2,200 bank branches as of June, or one for every 40,000 people, the central bank says. Only one in 10 people have a bank account.In addition to branches, which are expensive to set up, banks plan to authorise thousands of agents, such as shops or merchants, in line with new regulations. Such agents will be able to take deposits and hand out cash via the mobile system.
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      Cashless mobile payment application replace ATMs so that unbanked people can join. Only one out of 10 people is banked.
  • Ethiopian banks and microfinance firms are launching mobile money services, helping reach swathes of the population that now have little access to branches or services, the mobile technology providers and banks said.
    • omarlahmidi
      omarlahmidi on 14 Feb 21
       
      Belcash could make a lot of profit in Ethiopia. It offers a technology called helloCash, that will help customers and offer them a better service.
samielbaqqali

Fintech start-up Jumo bags $17m from UK investor, Banking News & Top Stories - The Stra... - 0 views

www.straitstimes.com/...jumo-bags-17m-from-uk-investor

Banks Credit score Security

shared by samielbaqqali on 11 Feb 21 - No Cached
  • Jumo manages a platform that provides financial services, such as loans and savings products, from partner banks to individuals and small businesses in emerging markets via mobile phones.
  • A potential borrower's credit risk profile is generated from behavioural data gathered through mobile networks. This helps banks that do not have data on these people to determine a credit score.
    • samielbaqqali
      samielbaqqali on 11 Feb 21
       
      This is a very sophisticated way in order to ensure secruity for banks.
hindelquarrouti

Fawry changing the culture of payment in Egypt: Top management - Daily News Egypt - 1 views

dailynewsegypt.com/...e-payment-egypt-top-management

fawry Fintechs Services

shared by hindelquarrouti on 11 Feb 21 - No Cached
  • our solution is based on high technology and based on Service Oriented Architecture (SOA) standard. We are highly available and our system is scalable as it can carry huge numbers of transactions. We are now certifying for the Payment Application Data Security Standard (PA-DSS) for security development and we’re following the standards of the Interactive Financial Exchange (IFX), ISO27001 and other different standards related to technology and security. Our solution is based on applying the latest technology, following the latest standards and being reliable. Moreover we allow easy access through more channels than competition to satisfy our customers’ needs. Also we’re covering more sectors and providing more services than our rivals.
  • Fawry is an Egyptian company that started in 2009 with the purpose of offering electronic payment services through several payment channels. The service started at banks and a big network of outlets all over the republic as well as Egypt post.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      The business aims to be creative as much as possible and to make all its offerings very realistic in order to make it simpler for its customers. Fawry cares a lot about the happiness of its customers. I believe Fawry recognizes the value of customer loyalty and how it allows an organization to retain profitability.
  • Fawry is an Egyptian company that started in 2009 with the purpose of offering electronic payment services through several payment channels. The service started at banks and a big network of outlets all over the republic as well as Egypt post.1 Now we are covering about 60 types of bills, where we cover the telecommunications sector and lately we covered all electrical companies in the country and some water companies. We also offer our services at universities and syndicates. Adding to that, users can now buy their airline tickets through us.
  • ...1 more annotation...
  • Fawry is an Egyptian company that started in 2009 with the purpose of offering electronic payment services through several payment channels. The service started at banks and a big network of outlets all over the republic as well as Egypt post. Now we are covering about 60 types of bills, where we cover the telecommunications sector and lately we covered all electrical companies in the country and some water companies. We also offer our services at universities and syndicates. Adding to that, users can now buy their airline tickets through us.
  • chaimaa-rachid on 11 Feb 21
     
    Fawry cares a lot about the satisfaction of its customers, the company tries to be innovative as much as possible and to make all its services very practical in order to make life easier for its customers. I think Fawry knows the importance of customer satisfaction and how it helps a business maintain sustainability.
  • hindelquarrouti on 13 Feb 21
     
    Fawry is gaining more and more popularity in Egypt. Also, it has developped two methods of payments: 1) anonymous: in which customers can pay their bills without actually revealing their identity. 2)Account creation: in this case the customers need to create an account with Fawry; this last one makes the process much easier for the customer
nouhaila_zaki

Mama Money - New Transfer Providers | Digital Frontiers Institute - 0 views

digitalfrontiersinstitute.org/...ewest-money-transfer-providers

Mukuru Lesotho Competitors Mama Money

shared by nouhaila_zaki on 13 Feb 21 - No Cached
  • So how does Mama Money offer their service at 5% whereas Mukuru, arguably the most popular service over the South Africa-Zimbabwe corridor, charges double this? From our experience of testing these two services, we noted a few key differences in how they operate which is likely to drive the cost differential between the two services. These differences include: · Mama Money maintain low overhead costs. Mama Money operate a single branch in Cape Town whereas Mukuru operate at least seven of their own branches nationally and they also operate through the Inter Africa branch network · Mama Money offer limited support beyond registration. In comparison, Mukuru operate a large 24 hour call centre and live chat function that supports and facilitates transfers. These support functions are no doubt very expensive to operate · Mama Money have a single partner organisation in Zimbabwe. Mama Money only have a single partner in Zimbabwe, CABS bank, whereas Mukuru have partnerships with a number of banks, retailers and mobile wallets. That said, if Mama Money’s Facebook comments are anything to go by, they may be adding more partner organisations in Zimbabwe, so this factor may soon be invalidated So while Mama Money’s competitors charge considerably higher fees, in the case of Mukuru, these higher fees are associated with some value-added benefits for the customer, for instance 24hr support on transactions for the sender and, for the recipient, a choice in how to receive the money.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt explains how one of Mukuru's competitors Mama Money manages to charge lower commission fees (only 5% for Mama Money, and 10% for Mukuru). This could become an opportunity for growth for Mukuru who can attempt to find ways to cut its commission fees to attract more customers while maintaining its high quality and diversifying towards other services/products to gain more profit elsewhere.
samielbaqqali

Search behaviour trends during COVID19 - Think with Googl - 0 views

www.thinkwithgoogle.com/...change-search-behaviour-trends

Fawry Payments Ads

shared by samielbaqqali on 13 Feb 21 - No Cached
  • Consumers continue to use Google Search and YouTube for inspiration and learning new skills, and ‘how to’ searches continue to grow across both platforms.
    • samielbaqqali
      samielbaqqali on 13 Feb 21
       
      Fawry should spend more money on the ads, because many customers get targeted on that way, so while looking for some e-payments apps, they will take a look at Fawry as well.
samiatazi

SnapScan rolls out 'frictionless' payment feature called SnapBeacons - Ventureburn - 2 views

ventureburn.com/...acon-payments-feature-first-sa

SnapScan SnapBeacons Fintechs South-Africa Innovation

shared by samiatazi on 11 Feb 21 - No Cached
  • South African payments startup SnapScan is today announcing its first major update since its QR code payments feature was popularised in 2013. The new payment channel, called SnapBeacons, is meant to provide users a frictionless alternative solution to pay for stuff. Instead of just being able to pay by scanning a QR code, SnapScan customers can now simply tap a button in the app to initiate the transaction via Bluetooth. A message on the customer’s phone will alert them when the option is available.
  • South African payments startup SnapScan is today announcing its first major update since its QR code payments feature was popularised in 2013. The new payment channel, called SnapBeacons, is meant to provide users a frictionless alternative solution to pay for stuff.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Finally, SnapScan is offering a new payment option to its customers. I think this is a really brilliant strategy because they realized that their product might become old school, so providing consumers with an alternative payment method will draw them more to the company.
  • Instead of just being able to pay by scanning a QR code, SnapScan customers can now simply tap a button in the app to initiate the transaction via Bluetooth.
  • ...7 more annotations...
  • SnapScan is today announcing its first major update since its QR code payments feature was popularised in 2013.
  • “The key difference is essentially the ability to provide even more convenience and speed to
  • improve the payment process,” CEO of SnapScan Kobus Ehlers explained in a phone interview. “They can now complete the payment anywhere within the range of the store’s beacon.”The new functionality is already available at 30 SnapScan merchants in Cape Town and 20 others around the country which have iBeacons. See the list here.“If you have the feature enabled, and you walk into the range of one of these beacons, it’ll simply display a Pay Here button,” he explained. iPhone users will even have a Merchants icon on their lock screen which means that you don’t even have to open the app to pay.
  • South African payments startup SnapScan is today announcing its first major update since its QR code payments feature was popularised in 2013. The new payment channel, called SnapBeacons, is meant to provide users a frictionless alternative solution to pay for stuff. Instead of just being able to pay by scanning a QR code, SnapScan customers can now simply tap a button in the app to initiate the transaction via Bluetooth. A message on the customer’s phone will alert them when the option is available.
    • samiatazi
      samiatazi on 13 Feb 21
       
      I am amazed by the new release of SnapScan which is another installment channel called SnapBeacons through which Clients can basically tap a catch in the SnapScan application to start the exchange through Bluetooth. The installments startup is upheld by the Standard Bank-sponsored Standard Bank and is situated in Johannesburg, South Africa. Since it's an equipment based item, it might be viable with telephones like the iPhone 4S and up.
  • Several major international companies like Virgin Atlantic, Apple, Macy’s and Walmart are already adopting beacon technology and proximity-based products are a growing trend. “We’re the first in South Africa to roll this technology out and we want to see how we can improve the user experience accordingly,” Ehlers boasted.An added feature, not a pivot
  • Ehlers noted that from the beginning, the Standard Bank-backed company wasn’t tied to just QR codes. It’s always been looking at new technologies to make mobile payment processes better. “To that end, we constantly play with a whole host of different technologies in the payments channel, of which the one that really got us excited was iBeacons.”An added bonus, the CEO notes that SnapBeacons will only be available to those who are keen to try it out. You can disable the feature if you want to.Read more: From stores to the streets: SnapScan’s road to a cashless society
  • “We’ve decided not to turn it on by default because we’re quite sensitive that people may want to consider whether they want this feature and reassure themselves that it’s not a big change that will happen over night.” It’s worth noting that this isn’t a complete transition. In some occasions SnapBeacons will make sense, while in other, it won’t.Furthermore, because it’s a hardware based product, it will only be compatible with a certain range of phones like the iPhone 4S and up or most smartphones running Android 4.3 and up.
  • hichamachir on 11 Feb 21
     
    SnapScan is finally providing its customers with a new payment alternative. I think that this is a very brilliant strategy because they realized that their product might get old school, so providing an alternative payment possibility for the customers can attract them more to the company.
  • hindelquarrouti on 13 Feb 21
     
    It was a smart move from the Snapscan company to stay up to date and continue introducing new innovative features. After the introduction of QR code, now it has made an app, that allows transaction via Bluetooth ,available to customers in order to be more efficient and faster
mehdi-ezzaoui

Capitec partners with EasyEquities to offer share trading in SA and US - 1 views

www.businesslive.co.za/...fer-share-trading-in-sa-and-us

Easyequities Service Africa

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • Capitec has added share trading to its portfolio after entering into a partnership with low-cost investment platform EasyEquities. The move, which was announced on Friday, could be seen as a sign that Capitec wants to be able to satisfy the diverse requirements of more upper-income clients for broader financial services. The company has traditionally used no-frills bank accounts to attract budget-savvy low- to middle-class banking clients. ..
    • aminej
      aminej on 13 Feb 21
       
      It's good to see that different Fintechs are going into partnerships in order to develop more and improve their situations. Capitec wants to target more people and mostly high income who want to maximize more their profits by investing in Stocks and Bonds
  • Capitec partners with EasyEquities to offer share trading in SA and US The move is part of a broader strategy to provide diverse financial services through a partnership network
  • mehdi-ezzaoui on 13 Feb 21
     
    Capitec has added share trading to its portfolio after entering into a partnership with low-cost investment platform EasyEquities.
mehdibella

Standard Bank snaps up major stake in SnapScan maker | Fin24 - 1 views

www.news24.com/...of-snapscan-developer-20161212

Fintech finance SouthAfrica snapscan

shared by mehdibella on 11 Feb 21 - No Cached
  • The company will continue to develop and expand its offering to provide a range of product development and payments services.Kobus Ehlers, Firepay CEO, said: “Our team is looking forward to building out our payments platform to solve the real-world payments problems we have always focused on, and to provide customers with the best experience possible. We’re excited to work with Standard Bank in our mission to achieve this both in South Africa and across the continent.”
  • “We are excited about working more closely with the Firepay team and think that there is an excellent strategic fit between their capabilities and Standard Bank’s vision for a truly universal bank, both in South Africa and throughout the African continent,” said Wendy Pienaar, SBSA Head of Emerging Payments.“Firepay’s experienced team and industry know-how will be used to bolster Standard Bank’s emerging payments strategy,” she added.In addition to SnapScan, the Firepay team’s technology platform already enables payments for several clients, including WeChat and Masterpass.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      SnapScan's plan for expansion seems very important to me. They will accomplish enormous things on the African continent with the financial aid of Standard Bank and the special service that SnapScan offers.
  • “We are excited about working more closely with the Firepay team and think that there is an excellent strategic fit between their capabilities and Standard Bank’s vision for a truly universal bank, both in South Africa and throughout the African continent,” said Wendy Pienaar, SBSA Head of Emerging Payments.“Firepay’s experienced team and industry know-how will be used to bolster Standard Bank’s emerging payments strategy,” she added.In addition to SnapScan, the Firepay team’s technology platform already enables payments for several clients, including WeChat and Masterpass.
  • ...3 more annotations...
  • Johannesburg - South African financial services provider Standard Bank has acquired a majority share of Firepay, the company behind the quick response code payment app SnapScan.
  • Firepay launched the SnapScan app in partnership with Standard Bank in 2014 and today has 32 000 physical and online merchants.The app, which is connected to a bank account or mobile wallet, allows users to make payments from their mobile device by scanning a QR (quick response) code.
  • “We are excited about working more closely with the Firepay team and think that there is an excellent strategic fit between their capabilities and Standard Bank’s vision for a truly universal bank, both in South Africa and throughout the African continent,” said Wendy Pienaar, SBSA Head of Emerging Payments.
    • mehdibella
      mehdibella on 13 Feb 21
       
      I find that Contributing to students wellfare is amazing by this parternship.
  • hichamachir on 11 Feb 21
     
    SnapScan expansion strategy seems quite interesting for me. With the financial help of Standard Bank and the unique service that SnapScan provides, they can achieve huge things in the African continent.
samielbaqqali

M-Pesa and Mobile Money in Kenya: Pricing for Success - 1 views

store.hbr.org/...kel762

K-Pesa Kenya Customers

shared by samielbaqqali on 12 Feb 21 - No Cached
  • The Kenyan government's announcement of a new 10 percent tax in March 2013 threatened the future prospects of M-Pesa, Safaricom's mobile money transfer service, which had revolutionized the way money moved in Kenya. The new tax would be levied on all cash transfers but was largely targeted at M-Pesa, which controlled around 80 percent of the cash transfer market.
  • The Kenyan government's announcement of a new 10 percent tax in March 2013 threatened the future prospects of M-Pesa, Safaricom's mobile money transfer service, which had revolutionized the way money moved in Kenya
  • The Kenyan government's announcement of a new 10 percent tax in March 2013 threatened the future prospects of M-Pesa, Safaricom's mobile money transfer service, which had revolutionized the way money moved in Kenya.
  • ...2 more annotations...
  • The Kenyan government's announcement of a new 10 percent tax in March 2013 threatened the future prospects of M-Pesa, Safaricom's mobile money transfer service, which had revolutionized the way money moved in Kenya.
  • The case presents the structure Safaricom established in order to develop a mobile money transfer service in Kenya. As a concept, M-Pesa was unprecedented in Kenya: prospective customers had to get comfortable with the idea that a mobile communications company could provide a payment system, that transactions could be initiated through a mobile phone, and that nonbank outlets could provide cash-in/cash-out services.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      M-performance Pesa's is brilliant. This success will, however, attract enemies. The success of M-Pesa attracted the attention of the government, which added an additional tax that could impact the profitable business. I assume that the contribution of M-Pesa to the local economy will outweigh the power of the government, so that they can discuss with them all the additional tax they have levied or plan to introduce by the government.
  • hichamachir on 12 Feb 21
     
    The success of M-Pesa is brilliant. However, this success can attract enemies. M-Pesa success attracted the government's attention which added an additional tax that can bother the successful company. I believe that M-Pesa contribution to the local economy can surpass the government power, so they can negotiate with them all the additional tax that they government implemented or intend to implement.
kenza_abdelhaq

Safaricom is Testing a Standalone M-PESA App - 0 views

techweez.com/...new-mpesa-app-safaricom

M-Pesa Kenya Payments Service

shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • Safaricom appears to be developing an M-PESA app following the publication of a similarly named app in Google Play Store. The app, which has been downloaded more than 10K times, is anything but what you already seen in the current mySafaricom app.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      The development of M-Pesa application by Safaricom.
nourserghini

Send money to M-PESA accounts in Kenya - 0 views

www.worldremit.com/...m-pesa

Mpesa Mobile-money Kenya Services

shared by nourserghini on 09 Feb 21 - No Cached
    • aminej
      aminej on 09 Feb 21
       
      I believe that M-PESA is one of the most developped and interesting fintechs in Africa and I'm sure it will expand to different places in the world. It a virtual banking system (mobile money service) that offers transaction services through a SIM card on a mobile phone. It is a very safe method of sending and receiving money very fastly and conveniently even for people who live in rural areas which is the case for most of people in the African continent.
  • M-PESA Kenya is an electronic mobile money service that allows you to store, send and receive money on your mobile phone. With an M-PESA account, you can transfer cash and shop for products and services. You can also withdraw cash by visiting an agent (typically in a corner shop) or transfer it to others from your phone. This makes it a quick, safe and simple way to make payments and handle money.
  • M-PESA is a virtual banking system (mobile money service) that offers transaction services through a SIM card on a mobile phone. In Kenya this must be with a Safaricom SIM card. The SIM card is inserted into the card slot of the mobile device and users can receive and store money, as well as make payments and transfer money to vendors and family members using SMS messages.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      M-PESA doesn't require something complex for customers to make use of its services, they just need a SIM card.
  • ...1 more annotation...
  • Why use M-PESA to send money to Kenya?Money is added instantly to M-PESA accounts once payment is approved.Your recipients don’t have to carry large amounts of cash with them, which can be unsafe.There’s no need for your recipient to travel to a pickup location, they will have the money delivered right to their phone. It couldn’t be easier!
    • nourserghini
      nourserghini on 13 Feb 21
       
      This part explains the facility of sending money to Kenya through M-pesa as money is added instantly and is delivered directly to the phone.
sawsanenn

Paga Definition - 0 views

www.investopedia.com/...paga.asp

FinTech E-payments Nigeria competition

shared by sawsanenn on 13 Feb 21 - No Cached
  • In order to prevent fraudulent transactions, Paga has put certain measures in place to protect its users. A user logging into an unrecognized device, for example, will have to answer a couple of security questions before proceeding. Again, every transaction using Paga has to be finalized with a personal PIN known only to the user.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Paga has placed such steps in place to protect its users in order to discourage fraudulent transactions. For example, a user logging into an unrecognized computer would have to answer a few safety questions before continuing. Again, with a personal PIN is known only to the user, any transaction using Paga must be finalized.
  • With Paga, customers are able to deposit and save money, purchase prepaid phone credit, pay utility and cable bills, and make payments to retailers. The partnership between Paga and Western Union also has the added benefit where Western Money transfers sent to users can be deposited into their Paga accounts.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it discusses Paga's offerings fist, before moving to how Paga's partnerships, here with Western Union, helped the fintech improve its offerings.
  • Paga was introduced in Nigeria to take advantage of the cash buildup in the system and to create a means whereby financial services are available to all. Although the banking sector in Nigeria is not easily accessible to everyone, the telecommunications industry has been more successful in reaching a large portion of the country’s population. The collaboration of both the banking and telecom sector has given rise to mobile banking platforms like Paga, where a user can perform basic financial transactions with the use of a cellphone. Paga works through a mobile phone application or online through the company’s website.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it narrates the context in which Paga emerged. The combination of a large unbanked/underbanked population and high accessibility to telecommunications contributed to the establishment and subsequent success of Paga n Nigeria.
  • ...1 more annotation...
  • A number of other mobile wallet and payment service platforms are increasingly being implemented in emerging nations that have a high percentage of unbanked groups. M-Pesa, MTN Mobile Money, Airtel Money, and Orange Money are examples of mobile banking applications that are being employed to include all people in the growing digital financial sphere.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt talks about companies that strated to offer the same services as paga which made them competitors to paga
ayoubb

Zeepay CEO declared Best Fintech CEO of the Year | Value Added Services News in Ghana - 0 views

www.biztechafrica.com/...16273

shared by ayoubb on 13 Feb 21 - No Cached
  • Zeepay CEO Andrew Takyi-Appiah The Ghana Information Technology and Telecoms Awards have declared Zeepay CEO Andrew Takyi-Appiah the Best Fintech CEO of the Year 2020.
    • samielbaqqali
      samielbaqqali on 13 Feb 21
       
      A true accomplishment by starting slowly and then getting on the top of the all the CEOs.
  • Zeepay CEO declared Best Fintech CEO of the Year | Value Added Services News in Ghana
    • ayoubb
      ayoubb on 13 Feb 21
       
      Zeepay
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