Group items tagged

Got paid through PayPal? That's great, now you can easily withdraw the funds to your M-PESA, and use them any way you like. Need to pay your bills? No problem - your latest PayPal payment can be waiting for you on your M-PESA. Yeah, it's that easy. Why limit your shopping experience? It's now easier for you to top up your PayPal account, and shop around the world. Just transfer your M-PESA balance to your PayPal account, and get ready to shop almost anywhere, anytime.

Each and every transaction done on the M-PESA platform is electronic and can therefore be monitored by Safaricom, which runs its own bank-grade anti-money laundering system. Even a cash-in or a cash-out operation has an electronic leg and is captured by the system. The Central Bank of Kenya gets regular reports on M-PESA transactions, as it does from other payment service providers.

Cash merchants are mainly super users, who resell their own working capital balances, with no more access to the M-PESA platform than any other customers, except that they have higher transaction limits.

Our work breaks new ground by including many customers that have never accessed formal financial services before. This is exciting, but also means we have a significant responsibility to make sure their first formal financial services experience is positive and empowering. That’s really important to us, so we’re open to testing, learning, sharing and collaborating – it’s a part of our contribution to building the digital financial services ecosystem.”

Financial planning is the backbone for every type of business to operate efficiently with achieve targeted objective. A single mistake in the financial records or planning can drag the growth of an organization to zero. As a solution, Robo-Advisors serve a digital platform with automated functions backed up with algorithm-driven financial planning services. This digital platform allow to automate the procedure with least or can be said no human supervision. A question might be nudging your mind, “How a digital platform can be able to plan financial operations?” It is a worth question that must be answered before using such a high tech platform.

Fawry for Banking & Payment Technology Services SAE, an Egyptian digital payments provider, was listed on Cairo’s exchange about a year back. The company recently experienced a 300% increase in its market value to 20 billion Egyptian pounds (appr. $1.3 billion). The payments firm confirmed that its valuation has grown 4x since the COVID-19 outbreak in late February 2020. As first reported by Bloomberg, Fawry is now ranked among Egypt’s 10 most valuable firms, which include Telecom Egypt Co. and Elswedy Electric Co. However, these businesses are generating a lot more revenue compared to Fawry for now. Many locals in Egypt are still settling transactions with cash payments, despite the Coronavirus crisis which has made it unsafe to handle paper currency notes. However, the nation’s reserve bank has asked lending platforms and other financial service providers to encourage residents to make digital payments via mobile wallets. The central bank also wants Egyptians to use online payment platforms like Fawry in order to limit physical contact, so that the virus doesn’t spread further.

the MFSA published a Consultation Document proposing to (i) launch a FinTech Regulatory Sandbox, (ii) set up a framework for the regulatory certification of RegTech solutions, while also encouraging persons developing SupTech solutions to approach the Authority through a dedicated online form, and (iii) provide a status update on the other strategic objectives presented under Pillar 1 of the FinTech Strategy

MFSA FinTech Strategy Overview The MFSA aims to establish the foundations to enable FinTech start-ups and  scale-ups, technology firms and established financial services providers to develop viable FinTech solutions which drive innovation and enhance access to financial products, increase competition whilst promoting market integrity, deliver better customer experiences, and ultimately, contribute to the long- term success of the Maltese financial services sector.

The MFSA FinTech Strategy proposes to set out six pillars for the MFSA to create a holistic long-term approach to catalyse innovation, growth and competition in the financial services sector, whilst ensuring robust investor protection, market integrity and financial soundness.

Lumkani, a Johannesburg-based startup that leverages proprietary hardware and a tech-enabled agent network to provide customers living in informal settlements within South Africa with insurance products that protect against loss of life, shelter, and assets in the case of a home fire. Lumkani, which means ‘be careful’ in Xhosa, originally began as a hardware company, deploying its first fire detector in late 2014. Within the first 18 months, they were able to prove that their technology “in 73 percent of cases was able to reduce the spreading of fires [beyond] the first home.” But it was not enough just to alert the community and stop the spreading of fires.

Destructive fires are a regular, and potentially devastating, occurrence for the approximately 10 million South Africans that live in informal settlement communities. These townships are particularly susceptible to the threat of fires due to the use of flammable building materials, the ubiquity of open flame fires, limited space between dwellings, and a lack of road infrastructure for adequate emergency response.

SnapScan combines the agility and speed of a small local startup with the industry knowledge and experience of Standard Bank, Africa’s biggest bank. As a team, we love solving difficult problems, especially when it comes to making fast, easy mobile payments possible! SnapScan is a product of FireID Payments, part of the FireID group, a set of local startups building elegant solutions to a wide range of difficult and interesting problems.

MTN embarks on a journey to lead and deliver to its customers a bold new digital world, by transforming itself from being a traditional Communications Service Provider to a Digital Services Provider.

“This partnership represents another significant milestone in our digital transformation strategy at MTN Group. An integrated digital ecosystem is the cornerstone for delivering operational efficiencies and a more enhanced customer experience. Our digital self-service platforms make our customers lives a whole lot brighter through a more personalised and seamless experience. As we continue our digital transformation journey, we are able to be more agile, efficient and customer centric”

“Our customers have been asking for a Mukuru App, and we have made sure to develop and present a solution that empowers our customers to send money back home to their families in an even safer and more convenient way. Mukuru has always given its customers the ability to transact when and wherever they need to through our existing USSD and WhatsApp offerings – the Mukuru App adds a richer experience and more control for a customer to manage their profile,”

“Our customers have been asking for a Mukuru App, and we have made sure to develop and present a solution that empowers our customers to send money back home to their families in an even safer and more convenient way. Mukuru has always given its customers the ability to transact when and wherever they need to through our existing USSD and WhatsApp offerings – the Mukuru App adds a richer experience and more control for a customer to manage their profile,”

This paper reports the results of a large-scale field experiment designed to test the hypothesis that group membership can increase participation and prosocial lending for an online crowdlending community, Kiva. The experiment uses variations on a simple email manipulation to encourage Kiva members to join a lending team, testing which types of team recommendation emails are most likely to get members to join teams as well as the subsequent impact on lending. We find that emails do increase the likelihood that a lender joins a team, and that joining a team increases lending in a short window (1 wk) following our intervention. The impact on lending is large relative to median lender lifetime loans. We also find that lenders are more likely to join teams recommended based on location similarity rather than team status. Our results suggest team recommendation can be an effective behavioral mechanism to increase prosocial lending.

UN Capital Development Fund (UNCDF) is pleased to announce that JUMO has won their Sprint4Women Design Competition for women’s financial inclusion in Zambia. JUMO was one of three finalists competing for a grant to roll-out digital financial services (DFS) solutions for the rural women of Zambia, alongside Fenix Zambia and Hobbiton Investments.

BenefitsOffering a distinctive integration and management service with various redemption channels. Giving our clients points at their top favorite brands. Providing Customer convenience and ensure a better experience. Increasing customers loyalty and retention through engaging activities and programs. Boosting disbursement pattern motivating them by earning and burning points.

How it works?

We want to acceleratefinancial inclusion BezoMoney is not just a product. It is a growth experience. Our vision is to become Africa’s largest community-based digital financial institution by empowering people financially through their way of life to facilitate upward social mobility using digital financial technologies. We are community, we are a financial ecosystem and we exist to address all your financial needs.

We had the opportunity to be trained by Meltwater Entrepreneurial School of Technology (MEST) which allowed us to develop our skills and our product as well as secure seed funding for BezoMoney.

Customer Problem: With excessive charges, high minimum investment required with complicated KYC processes and low interest rates, those wanting to save will typically avoid using their bank accounts. Instead savings are stored in cash or mobile money, with their value steadily decreasing due to high rates of inflation.

Competitive Advantage: ● Only company Mobile Money subscription payment in West Africa ● First Mover Advantage in Ghana ● Pan African team with previous founding experience ● Highly Scalable business model due to adoption Mobile Money in Africa ● Viral and high network effects inherent in our services enabling us to grow fast with less cost

We believe we can bring parametric insurance to the worldBuilding our product from the ground up, five years ago we started by selling simple weather insurance to smallholder farmers in Africa via agents and in-person marketing - selling over 30,000 policies direct to farmers. Since those days, we have incorporated digital marketing, scaled our technology and sold our policies to customers around the world.We want to help high value crop growers manage their financial risk to climate change, unpredictable weather and natural disasters.WorldCover’s product vision is for commercial farmers to experience parametric insurance in a way that is easy to understand (simple), engenders trust (transparent), and fits them well at any size (tailored).

TPAY MOBILE makes it easy for digital service providers to access over 600 million customers and accept payments across MEA and Turkey. Through one simple API integration, TPAY MOBILE’s full service mobile payment platform enables rapid business growth and drives financial inclusion.

We’re here to give you the best home buying experience through convenience, transparency and choice…while you make the most important purchase of your life- buying your home.