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sawsanenn

When fintech met crowdfunding - AltFi - 0 views

www.altfi.com/..._when-fintech-met-crowdfunding

FinTech Financial inclusion Strategies

shared by sawsanenn on 13 Feb 21 - No Cached
  • It became clear that fintech companies began to prize crowdfunding three years ago. Monzo crashed our servers in 2016 when it raised £1m in 96 seconds. Last December, the now-serial crowdfunding neobank raised £20m from retail investors. 
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Crowdfunding would be a beneficial strategy for EasyEquities to help young entrepreneurs raise money for their new investments.
  • The world’s leading fintechs are using crowdfunding to cement and enhance their relationship with their customers. The latest Unicorns report from Beauhurst, an independent analysis firm, identifies the UK’s 21 unicorn companies – those worth $1bn (around £760m) or more. Of the 21, six are fintechs, and two are digital banks: Monzo and Revolut. Both have turned to crowdfunding – at a time when they are the darlings of the tech scene and its investors – to raise capital. 
    • hichamachir
      hichamachir on 13 Feb 21
       
      Crowdfunding is becoming a very used strategy for fintechs because it's a concept that help entrepreneurs finance their projects. Also it's a concept that makes the community more connected
  • The staggering thing about Monzo’s raise – and it speaks volumes about where crowdfunding and fintech have reached – is that it did not need to raise the £20m from any of us on the street. In October – i.e. just two months shy of the raise – the bank had closed an £85m round led by VC firm Accel. Raising £20m is no walk in the park. You need to build a prospectus, which is a lengthy and expensive process. Monzo’s crowdfunding raise capped all investments at £2,000, meaning the team chose to have more investors to look after. 
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt uses the example of Monzo's fundraising through crowdfunding to show that the latter could be a great source of financing for fintech companies.
  • ...3 more annotations...
  • Making consumers owners and giving them a say has become integral to how these companies run. Indeed, many are now building their own platforms to manage ownership. What does this tell us about the future? Here are businesses offering equity – not for money, not because they want to list, but to build an affinity with their customers. As these relationships evolve, both sides benefit: greater engagement – better products – more customers – growth – profit – both sides capitalise.  It could be called the democracy of building business. Technology is making this shift around the consumer possible not just in finance, but across markets. While the former has emerged as the vanguard, there are other non-tech sectors that have leapfrogged traditional ownership structures and cemented their own success. Food and beverage, historically underserved by the financial world, was an early adopter of crowdfunding. BrewDog is the poster child for this – a four-time Crowdcube funded brewery. It has 120,000 investors, aka Equity Punks, who, in its words, kick-started the craft beer revolution and, presumably, enjoy its beer. The prospect gets so much more exciting when you start to think of the markets that are hardest to disrupt, build a community around, and fight injustices: insurance, mining, the coffee industry, healthcare.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      Here the positive side of crowdfunding is presented and includes the ownership of customers over the businesses/brands they fo to. Crowdfunding here appears to be a great opportunity, which the article describes as the democracy of building business.
  • The world’s leading fintechs are using crowdfunding to cement and enhance their relationship with their customers. The latest Unicorns report from Beauhurst, an independent analysis firm, identifies the UK’s 21 unicorn companies – those worth $1bn (around £760m) or more. Of the 21, six are fintechs, and two are digital banks: Monzo and Revolut. Both have turned to crowdfunding – at a time when they are the darlings of the tech scene and its investors – to raise capital. 
    • ghtazi
      ghtazi on 13 Feb 21
       
      what we can say is crowdfunding is the future for fintech. using Crowdfunding will helps the fintech to have a stronger and powerful relationship with its customers.
  • To answer that, I believe we have to go back to the financial crisis. After 2008, a chasm opened up in financial markets, encouraged by a profound lack of trust. We’re well-versed with the outcomes. The banks that survived had to change their ways, and new players came onto the scene. A decade later, it is the novel relationship between these latest entrants and consumers that gives us an idea of what the future looks like: a world where any business-to-consumer company knows that sharing ownership with its customers is fundamental to long-term success. This is the cooperative movement of the twenty-first century, and it is driven by technology.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This could imply that future companies are effective for a variety of reasons. Rather than capitalizing on cost savings, piling up high-quality products and selling them cheaply, or structural brands that are more myth-based than substance-based, they will be firms that effectively utilize network effects, concentrate on being a product first, and bake their clients into everyones brand
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
sawsanenn

Paga - Crunchbase Company Profile & Funding - 0 views

www.crunchbase.com/...paga

FinTech E-payments Nigeria

shared by sawsanenn on 13 Feb 21 - No Cached
  • Paga is a mobile payment company. We are building an ecosystem to enable people to digitally send and receive money, and creating simple financial access for everyone. Our mission is to make it simple for one billion people to access and use money. Our first market is Nigeria where Paga is the leading mobile payment company.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Paga is a company located in Nigeria that aims to make it simple for 1 billion people to access and use money with ease.
  • Paga is a mobile payment company. We are building an ecosystem to enable people to digitally send and receive money, and creating simple financial access for everyone. Our mission is to make it simple for one billion people to access and use money. Our first market is Nigeria where Paga is the leading mobile payment company.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt shows the main service of paga fintech and their first market which Nigeria
mehdibella

Egypt's Fawry is now a billion-dollar company - 1 views

www.menabytes.com/fawry-billion-dollar

Kiva kenya Nairobi Fintech finance

shared by mehdibella on 12 Feb 21 - No Cached
  • Fawry had witnessed a surge in its stock price during the first two months after its public markets debut but the price afterward remained almost flat until March – when they also saw it drop to one of its lowest points of EGP 7 per share. But since then, it has been on an upward trajectory – which also coincides with Covid-19.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      the pandemic has created a surge in demand for electronic payment services and Fawry being the leading player in Egypt benefitted a lot from that.
  • Fawry that is the only technology company on The Egyptian Exchange currently offers over 250 electronic payment services through its network of over 105,000 service points across 300 cities in Egypt – that include ATMs, mobile wallets, retail shops, post offices, and little vendor kiosks.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Fawry has a large network of service points and diversified services spread out in different cities in Egypt.
  • The pandemic has created a surge in demand for electronic payment services and Fawry being the leading player in Egypt obviously has benefitted a lot from that – which is also evident from company’s just-announced financials for the second quarter.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      The demand for electronic payment services mainly provided by Fawry in Egypt increased in the context of the pandemic.
  • ...7 more annotations...
  • Share7KTweetShareWhatsAppEmail7K SharesEgyptian electronic payments company Fawry now has a market cap of over $1 billion. It achieved the feat during the intraday trading, with its share price rising to EGP 22.69 which gives it a market cap of EGP 16 billion or $1 billion (for the first time). With this, Fawry has become the first technology company in Egypt to get to the billion-dollar valuation.
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      It's important to keep in mind that Fawry started out small and then became the first technology company in Egypt to get a market cap of $1 billion.
  • Egyptian electronic payments company Fawry now has a market cap of over $1 billion. It achieved the feat during the intraday trading, with its share price rising to EGP 22.69 which gives it a market cap of EGP 16 billion or $1 billion (for the first time). With this, Fawry has become the first technology company in Egypt to get to the billion-dollar valuation.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      This achievement was partly, or mainly, due to the Covid-19 pandemic that pushed many people to place a high demand on Fawry's many e-payment solutions and services.
  • Its revenue for the first half of 2020 has increased by 47 percent (year-on-year) to EGP 549.26 million ($34.41 million) from EGP 373.33 million ($23.38 million) for the same period of 2019. The net profit of the company in H1 2020 has increased by over 135 percent YoY to EGP 85.9 million ($5.38 million) from EGP 36.47 million ($2.29) in H1 2019.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Fawry leads the Fintech Egyptian Market, its stock price has increased, and its revenue has increased as well in 2020.
  • Its stock price has increased by over 300 percent since its debut at The Egyptian Exchange in August last year. It had gone public with its shares priced at EGP 6.46 (per share).
  • Egypt's Fawry is now a billion-dollar company
  • Its stock price has increased by over 300 percent since its debut at The Egyptian Exchange in August last year. It had gone public with its shares priced at EGP 6.46 (per share).
    • mehdibella
      mehdibella on 13 Feb 21
       
      Fawry had witnessed a surge in its stock price during the first two months after its public markets debut but the price afterward remained almost flat until March -
  • Its revenue for the first half of 2020 has increased by 47 percent (year-on-year) to EGP 549.26 million ($34.41 million) from EGP 373.33 million ($23.38 million) for the same period of 2019. The net profit of the company in H1 2020 has increased by over 135 percent YoY to EGP 85.9 million ($5.38 million) from EGP 36.47 million ($2.29) in H1 2019.
    • mehdibella
      mehdibella on 13 Feb 21
       
      The pandemic has created a surge in demand for electronic payment services and Fawry being the leading player in Egypt obviously has benefitted a lot from that - which is also evident from company's just-announced financials for the second quarter
  • kenza_abdelhaq on 13 Feb 21
     
    "Fawry that is the only technology company on The Egyptian Exchange currently offers over 250 electronic payment services through its network of over 105,000 service points across 300 cities in Egypt - that include ATMs, mobile wallets, retail shops, post offices, and little vendor kiosks."
  • mehdi-ezzaoui on 13 Feb 21
     
    Fawry that is the only technology company on The Egyptian Exchange currently offers over 250 electronic payment services through its network of over 105,000 service points across 300 cities in Egypt - that include ATMs, mobile wallets, retail shops, post offices, and little vendor kiosks.
sawsanenn

Visa, Nigeria's Paga Team For Global FinTech | PYMNTS.com - 0 views

www.pymnts.com/...sa-nigeria-paga-global-fintech

Nigeria FinTech E-payments

shared by sawsanenn on 13 Feb 21 - No Cached
  • “We are excited to partner with Visa, a leader in payments globally, as they are constantly building world-class solutions for consumers and businesses. Our goals are well-aligned. As we scale our wallet across emerging markets such as Nigeria, Mexico and Ethiopia, partnering with Visa to give both consumers and businesses, who have been underserved, access to Visa’s global network made sense to us,” the company said in a press release.
    • ghtazi
      ghtazi on 13 Feb 21
       
      I believe that this collaboration is a plus for both companies. It will help VISA to concur Africa and it will help Paga to reach new horizons.
  • Share Tweet Share Share Share EmailVisa is partnering with the Nigeria-based startup Paga to bring payments technology to Africa and abroad, according to reports on Monday (March 9).Paga has created a multi-channel network that enables more than 14 million Nigerian users to transfer money, make payments and shop digitally, either through its mobile app or via its 24,840 agents. The payments platform acts as a mobile wallet, giving users the power to electronically transfer money and make mobile payments.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it presents the user base of Paga, which amounts to 14 million Nigerians. The excerpt also briefly introduces the main services and products offered by the start-up.
  • Although Visa’s partnership with Paga doesn’t include a monetary investment, the collaboration aligns with the company’s strategy to expand across Africa and work with the continent’s top startups. The move is expected to drive larger payment volumes for both firms.“We want to digitize cash – that’s a strategic priority for us. We want to expand merchant access to payment acceptance and we want to drive financial inclusion,” said Otto Williams, head of strategic partnerships, FinTech and ventures for Visa in Africa. “Based on the partnership, we’re going to launch QR codes and NFC [payments] into the market in Nigeria – alternative ways of receiving payments than bringing out a physical card.”
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it introduces the partnership between Visa and Paga and what that entails for the latter. The collaboration is expected to be a first move towards an expansion of Paga in the African continent, and as a great opportunity to further advance with the financial inclusion mission of Paga.
  • ...1 more annotation...
  • The partnership gives Paga account holders the ability to transact on Visa’s global network, and will also see both companies work together on technology developments. The arrangement will bring new merchant options to Paga’s network.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt is important because it shows the good side of this partnership which will bring new options to both companies
sawsanenn

Is M-Pesa really Kenyan or British? - 1 views

www.iafrikan.com/...m-pesas-origins

Financial inclusion FinTech Service Africa Kenya

shared by sawsanenn on 12 Feb 21 - No Cached
  • Hailed as the “Kenyan technology success story”, many have claimed M-PESA to be a testimony to the greatness of the East African country’s technology scene, producing world-class technology companies that rival those in South Africa. However, is the acclaimed mobile money service really Kenyan at all? The answer is no. M-PESA is British.
    • hichamachir
      hichamachir on 12 Feb 21
       
      M-Pesa can be a british company but it's becoming part of the Kenyan culture. It's not important whether it's British or Kenyan, the most important thing is that M-Pesa revolutionized the Kenyan economy and played a huge role to develop the financial industry in Kenya.
  • By any stretch of the currently available facts, the service that accounts for more than 60 percent of Kenya’s GDP in transactions was conceived by British professionals. The company commissioned with developing the idea, Sagentia, into a workable technology was British. Additionally, the company that owns the intellectual property rights to the idea, Vodafone, is British and, lastly, it was funded in its initial stages by the British Government.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      M-Pesa may be a British business, but it is becoming a part of the culture of Kenya. Whether it's British or Kenyan, the most important thing is that M-Pesa has revolutionized the Kenyan economy and played a major role in the growth of Kenya's financial sector.
  • Nyagaka Anyona Ouko, a Kenyan from Nairobi, claims he is the innovator of M-Pesa and claims that Vodafone and its representatives stole the idea of Mobile Cash Transfer from him.
    • ghtazi
      ghtazi on 13 Feb 21
       
      there is a lot of perspectives about the fact that M-Pesa is not really a Kenyan product but a British product. Nyagaka Anyona Ouko, a Kenyan from Nairobi, claims he is the innovator of M-Pesa and accuses Vodafone of plagiarism. but the story vanished quicker than it appears.
  • ...2 more annotations...
  • Despite this certificate being awarded in 2012 and being stated as being in the LITERARY category, Ouko insists he is the original M-PESA innovator and further elaborates by saying that he has been “trying to Patent a Money Transfer system way back in 2003”. Even though he says that he believes many more Kenyans contributed to the innovation and development of M-PESA without recognition or reward, he writes, “Even though I currently believe I am the one, I start this with an open mind. If another person or firm comes forward with compelling proof I am ready to step aside and support that person.”
  • By any stretch of the currently available facts, the service that accounts for more than 60 percent of Kenya’s GDP in transactions was conceived by British professionals. The company commissioned with developing the idea, Sagentia, into a workable technology was British. Additionally, the company that owns the intellectual property rights to the idea, Vodafone, is British and, lastly, it was funded in its initial stages by the British Government.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt is important because it shows how M-Pesa helped in the economic growth of Kenya. They also helped in expanding the fintech culture in the country
aymanelmamoun

Why Businesses Need to Invest in Mobile Marketing - Vendasta Blog - 0 views

www.vendasta.com/...nesses-invest-mobile-marketing

MobileBanking E-Payment Africa NoCash

shared by aymanelmamoun on 13 Feb 21 - No Cached
  • There are about 7.22 billion smart gadgets (including smartphones, tablets and phones) in the world, which are multiplying five times faster than the world’s population Facebook reported to have a total of 1,591 million monthly active users in the fourth quarter of 2015, out of which 823 million were mobile-only Top sites in the US recorded 56% of total traffic from mobile devices Around 1.5 billion smartphone users were recorded in 2014, which is estimated to grow to around 2.5 billion by the end of 2019 By 2020, 70% of the world’s population will own a smartphone, reported by Telegraph 68 million searches are done every hour on mobile devices across the globe, source More emails are opened on mobile devices than desktop 55% of total emails are accessed on mobile devices, according to an email analytics report Number of mobile email users are estimated to grow by 23% this year Emails on mobile phones reflected 26.7% of sales as compared to 20.9% on desktops, according to an email analytics report
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      The following stats are a proof of the present and future of mobile banking and marketing as an attract market for global investors.
omarlahmidi

SnapScan: worth it or waste of time? - Econoblog - 0 views

econmattersblog.wordpress.com/...scan-worth-it-or-waste-of-time

Africa SnapScan

shared by omarlahmidi on 27 Feb 21 - No Cached
  • In 2014, Standard Bank launched an innovative new app in conjunction with the start-up umbrella company FireID- SnapScan. This app allows its consumers in South Africa to pay for items via their smartphones at retailers who have registered for the app .
  • In 2014, Standard Bank launched an innovative new app in conjunction with the start-up umbrella company FireID- SnapScan. This app allows its consumers in South Africa to pay for items via their smartphones at retailers who have registered for the app . The idea behind this technology was to increase safety for consumers since this app allows them to leave their bank cards at home. By not having your credit card on you, the creators believe your money is safer.
  • For those of us who are already struggling with limited memory on our smartphones there is some consideration that needs to happen before we can commit to another app. Here are some pros and cons of SnapScan and my final verdict:
aminej

Dayra, an Egyptian fintech wins $15,000 grant from Y Combinator's Startup School - MENA... - 0 views

www.menabytes.com/dayra-yc-startup-school-grant

Fintech Online Service Mobile Transfer Money Platform Insurance

shared by aminej on 12 Feb 21 - No Cached
  • Share246TweetShareWhatsAppEmail246 SharesCairo-based fintech Dayra has won $15,000 grant from Y Combinator’s Startup School, becoming the first startup from the Middle East & North Africa to win it. The winners, most of which were from the United States, were announced by Y Combinator on Friday. MENAbytes also understands that there are at least three startups from the region that have made it to Y Combinator’s current accelerator batch (Winter 2020) that YC will reveal at its demo day in March 2020 – good few months for MENA at YC.
    • aminej
      aminej on 12 Feb 21
       
      It is amazing to see that North African Fintechs are also doing really well and even winning some competition and money to help develop themselves.
mehdibella

Vodafone M-Pesa: Voda-Idea explores M&A for Vodafone M-Pesa - 0 views

economictimes.indiatimes.com/...69323972.cms

M-pesa kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • Voda-Idea explores M&A for Vodafone M-Pesa
  • MUMBAI: Vodafone M-Pesa Ltd. (VMPL), the payments wallet owned by Vodafone Idea, is considering merging its business with an associate company or a third party, but in the interim, has applied to the Reserve Bank of India (RBI) for extension of its prepaid payment instrument (PPI) license.
  • The moves are prompted by the fact that Vodafone Idea - created by the merger of Vodafone India and Idea Group – holds 100% of Vodafone M-Pesa Ltd. (VMPL) besides 49% shareholding in Aditya Birla Idea Payments Bank Limited (ABIPBL).
samielbaqqali

U.S. blacklisting of Yemen's Houthis to be lifted on Feb. 16 -Blinken | Nasdaq - 1 views

www.nasdaq.com/...-on-feb.-16-blinken-2021-02-12

MTN Fintech Washington

shared by samielbaqqali on 12 Feb 21 - No Cached
  • MTN is in the middle of a 25 billion rand ($1.67 billion)divestment plan aimed at simplifying its portfolio over the next three to five years. Part of this entailed selling its 49% holdings in Ghana Tower Interco B.V. and Uganda Tower Interco B.V. to AT Sher Netherlands Coöperatief U.A. for $523 million last year.
  • Adds quotes, backgroundSponsored LinksSponsored LinksPromoted LinksPromoted LinksBabbelThis App Can Get You Speaking Spanish in 2021BabbelUndo WASHINGTON, Feb 12 (Reuters) - U.S. Secretary of State Antony Blinken announced on Friday that he will revoke - effective Feb
    • samielbaqqali
      samielbaqqali on 13 Feb 21
       
      In Ghana, MTN's excellent work resulted in earnings being doubled. I can say that MTN has shown the world that Ghana is a location that totally praises digitalization.
  • hichamachir on 12 Feb 21
     
    MTN great job in Ghana resulted in doubling the earnings. I can say that MTN showed to the world that Ghana is a place where digitalization is totally praised.
mehdi-ezzaoui

Pula: Insuretech Startup Closes $6M Series A Funding to Scale Up Business Across Africa - 1 views

thespiritedhub.com/artup-closes-6m-funding-africa

PULA FinTech Festival

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • Funding Pula: Insuretech Startup Closes $6M Series A Funding to Scale Up Business Across Africa 0 SharesShareTweetSharePin The African Insuretech service provider, Pula, has recently closed a US$6 million Series A funding round led by TLcom Capital and had participation from Women’s World Banking. It specializes in digital as well as agric insurance to derisk smallholder farmers across Africa. This new round of investment to the insuretech startup will be used to scale up operations in the company’s existing 13 markets across Africa. Pula has so far impacted over 4.3 million farmers on the continent and the new funding will help push its expansion into Asia to power resilience and profitability for Asian smallholder farmers. Pula was launched by Rose Goslinga and Thomas Njeru in 2015, to design and deliver innovative agricultural insurance and digital products to help smallholders farmers improve their farming practices, endure climate risks and bolster their incomes. This has become necessary because for smallholder farmers in emerging markets, the traditional method of calculating insurance through farm visits is often expensive, meaning they are often neglected from financial protection against climate risks.
  • mehdi-ezzaoui on 13 Feb 21
     
    This new round of investment to the insuretech startup will be used to scale up operations in the company's existing 13 markets across Africa. Pula has so far impacted over 4.3 million farmers on the continent and the new funding will help push its expansion into Asia to power resilience and profitability for Asian smallholder farmers.
ayachehbouni

Kenya's Bismart Insurance Launches E-Commerce Platform for Industry Players - 0 views

www.inversk.co.ke/...-platform-for-industry-players

shared by ayachehbouni on 13 Feb 21 - No Cached
  • The Kenyan insure-tech company, Bismart, has unveiled an online e-commerce platform that will enable insurance companies, brokers, agents to connect with their customers end to end.Dubbed Pamsmart, the cloud-based platform is tailored to cut down the costs of developing new technologies for insurance players by 90%.
    • nourserghini
      nourserghini on 13 Feb 21
       
      Bismart has recently launched an online e-commerce platform that will facilitate its service and that relies on the cloud-based platform Dubbed Pamsmart.
  • 337SHARESShareTweetSubscribe The Kenyan insure-tech company, Bismart, has unveiled an online e-commerce platform that will enable insurance companies, brokers, agents to connect with their customers end to end. Dubbed Pamsmart, the cloud-based platform is tailored to cut down the costs of developing new technologies for insurance players by 90%.
    • aminej
      aminej on 13 Feb 21
       
      Bismart have managed to create a new platform that will enable customers to have more insight and information about their services and how they work. It is good since it gives some kind of education to people who do not know anything about that
  • 337SHARESShareTweetSubscribe The Kenyan insure-tech company, Bismart, has unveiled an online e-commerce platform that will enable insurance companies, brokers, agents to connect with their customers end to end. Dubbed Pamsmart, the cloud-based platform is tailored to cut down the costs of developing new technologies for insurance players by 90%.
  • ...1 more annotation...
  • Through the platform, customers can easily check the status of their policies, approvals, and lodge insurance claims from online platform.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      Bismart helps customers manage and check their policies in addition to giving them more knowledge about the status and progress of these policies. This is great as customers will feel more at ease knowing exactly what is happening with their policies.
mehdibella

M-Pesa - 0 views

www.vodafone.com/...m-pesa

M-pesa kenya Nairobi Fintech finance

shared by mehdibella on 12 Feb 21 - No Cached
  • M-Pesa is Africa's most successful mobile money service and the region’s largest fintech platform. M-Pesa is the preferred way to make payments across the continent both for the banked and unbanked due to its safety and unmatched convenience.
  • It also provides financial services to millions of people who have mobile phones, but do not have bank accounts, or only have limited access to banking services. Now, M-Pesa provides over 42 million people with a safe, secure and affordable way to send and receive money, top-up airtime, make bill payments, receive salaries, get short-term loans and much more.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      Even if people do not have bank accounts, they can still use M-PESA because it allows them to have access to financial services through their mobile phones.
  • In early 2020, Vodacom & Safaricom completed the acquisition of the M-Pesa brand from Vodafone Group through a newly created joint venture. The joint venture will accelerate the growth of M-Pesa through Africa by giving both Vodacom and Safaricom full control of the M-Pesa brand, product development and support services as well as the opportunity to expand M-Pesa into new African markets
    • ghtazi
      ghtazi on 13 Feb 21
       
      after that Vodacom & Safaricom acquired M-Pesa brand from the Vodafone group, they created a new joint venture that will help M-pesa to grow across Africa, which I believe is a big opportunity for the group
  • ...9 more annotations...
  • M-Pesa is Africa's most successful mobile money service and the region’s largest fintech platform. M-Pesa is the preferred way to make payments across the continent both for the banked and unbanked due to its safety and unmatched convenience.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Thanks to its large Fintech platform, M-Pesa has managed to target both banked and unbanked people. Also, what distinguishes it, is that it does not require people to have a bank account in order to have access to its financial services, they only need to have a mobile phone.
  • In 2019, our 41.5 million active customers carried out over 12 billion transactions
    • nourserghini
      nourserghini on 13 Feb 21
       
      This article states that M-pesa is the continent's leader in mobile money services with over 41,5 million customers from all over the continent.
  • M-Pesa is Africa's most successful mobile money service and the region’s largest fintech platform. M-Pesa is the preferred way to make payments across the continent both for the banked and unbanked due to its safety and unmatched convenience.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt is important because it defines M-Pesa as Fintech Platform, their services, and their customer target
  • Send and receive moneyDomestic transfers: M-Pesa customers can send money in real time to any other M-Pesa customer with an account registered in the same country. In most markets customers can now send money to mobile money users on other networks as well.International transfers: Through our international remittance partners, M-Pesa customers can receive and send money across borders in real time.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt describes the core services provided by M-Pesa, namely domestic transfers and international transfers.
  • LoansM-Pesa customers build a credit score that enables them to access loans via our bank partners. Products include M-Shwari and KCB M-Pesa in Kenya and M-Pawa in Tanzania. We work hard to ensure customers not only have access to credit but are also educated so they understand the implications of a loan.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This particular excerpt explains how M-Pesa provides underbanked/unbanked customers with access to loans that would change their lives and ameliorate their condition.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This page is important because it enumerates all of the different product and service offerings provided by M-Pesa, which is important to know in order to acquire a comprehensive knowledge and understanding of the company's actions.
  • What is M-Pesa?
  • M-Pesa is Africa's most successful mobile money service and the region’s largest fintech platform. M-Pesa is the preferred way to make payments across the continent both for the banked and unbanked due to its safety and unmatched convenience.  It also provides financial services to millions of people who have mobile phones, but do not have bank accounts, or only have limited access to banking services.
  • Established on 6th March 2007 by Vodafone's Kenyan associate, Safaricom, M-Pesa is Africa's leading mobile money service with more than 430,000 active agents operating across the Democratic Republic of Congo (DRC), Egypt, Ghana, Kenya, Lesotho, Mozambique and Tanzania.
  • chaimaa-rachid on 12 Feb 21
     
    This service permits clients to store cash into an account put away on their cell phone, and send it utilizing an individual recognizable proof number and secure SMS. This makes it conceivable to pay for products and services and to guarantee standard payments.
aymanelmamoun

Le Creuset | Make Easy Mobile Payments with SnapScan - 0 views

www.lecreuset.co.za/...-mobile-payments-with-snapscan

E-Payment Africa FinTech Simbapay

shared by aymanelmamoun on 13 Feb 21 - No Cached
  • How to Use SnapScan: 1. Download. The SnapScan app can be downloaded onto your iPhone or Android device. Open the app and link your card details (SnapScan works with any South African Bank).In less than 5 minutes, you’re good to go! 2. Order. Go to the Le Creuset website and place an order for your desired items. At checkout, select SnapScan as a payment method. This can be used in conjunction with other payment methods such as eBucks, credit card or EFT, as well as Le Creuset Gift Vouchers. 3. Snap. Open the app to scan the SnapCode displayed at checkout on the Le Creuset website. 4.Pay. Confirm payment with your 4-digit PIN
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      SnapScan offers the customer easy download and signups steps. The four steps are sufficient to start the usage.
    • aymanelmamoun
      aymanelmamoun on 27 Feb 21
       
      Edited.
  • Le Creuset is proud to offer SnapScan as a convenient new payment solution. With this easy checkout option, you only have to load your card details once, when you download the SnapScan app. With your information already securely encrypted on your phone, you don’t need to enter them on the website again. And if you’re paying from your phone, it’s as easy as clicking a button!
    • omarlahmidi
      omarlahmidi on 13 Feb 21
       
      To use SnapScan, you just have to download, order, snap, and pay
kenza_abdelhaq

Bango partners with TPAY MOBILE to accelerate mobile commerce London Stock Exchange:BGO - 1 views

www.globenewswire.com/...ccelerate-mobile-commerce.html

TPay Mobile Algeria Financial Inclusion Partnership

shared by kenza_abdelhaq on 11 Feb 21 - No Cached
  • 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.
  • Bango (AIM: BGO), the data-driven commerce company, and TPAY MOBILE FZ-LLC (TPAY MOBILE, www.tpaymobile.com) the full-service digital payments platform for the Middle East, Africa, and Turkey, have formed a strategic partnership to increase access to digital commerce. This partnership simplifies and accelerates entry into new markets for online merchants by connecting platforms and pooling operational expertise
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Tpay mobile partnered up with the global company Bango that offers payment insights based on commerce data. This strategic partnership allowed the two companies to pull resources together and share their operational expertise.
  • ...2 more annotations...
  • TPAY MOBILE has pioneered digital commerce and financial inclusion in the Middle East, Africa, and Turkey. Its technology is used by regional digital merchants and international brands like Google, Apple, Unity, Huawei, PUBG and Tencent to connect to consumers across MEA and Turkey. These merchants can now scale globally through the worldwide payment reach enabled by the Bango Platform. In addition, merchants integrated to either Bango or TPAY MOBILE can accelerate revenue growth from their products and services, by using Bango Audiences in marketing programs, which attract more paying customers through payment behavior targeting.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      This partnership allows Tpay Mobile to use Bango platform and audiences and have a more global reach. This partnership also allows Tpay Mobile to target customers depending on their payment behavior and therefore attract more paying customers. On the other hand, Bango benefits from the digital commerce and financial inclusion expertise that Tpay Mobile has in the MEA region and Turkey.
  • App developers, stores and payment providers cross the threshold into the Bango ecosystem to converge, grow and thrive. By bringing businesses together and powering e-commerce with unique data-driven insights, Bango delivers new business opportunities and new dimensions of growth for customers around the world. Being inside the Bango circle means global merchants including Amazon, Google and Microsoft can work together with payment partners from Africa to the Americas, accelerating the performance of everyone on the inside.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Tpay Mobile's partner Bango is a data driven company giving valuable insights to companies to enhance E-commerce performance, allow growth, and enhance customers' experience and inclusion on a broader scope.
  • samielbaqqali on 11 Feb 21
     
    Nowdays, rapid platforms get a lot of attention, because, as there's big competition, the only way for a platform to have an advantage is to work on the design and the rapidity
kenzabenessalah

The Great FinTech Robo Advisor Race - 0 views

www.forbes.com/...reat-fintech-robo-adviser-race

EasyEquities RoboAdvisors Strategy Startups

shared by kenzabenessalah on 13 Feb 21 - No Cached
  • By now, the robo advisors are familiar to almost all fintech watchers.  These are the startups which have garnered media attention and customers given digital native investment accounts.  Their services include automated portfolio planning, automatic asset allocation, online risk assessments, account re balancing and other digital tools. Fees are competitive and range between 15 to 35 basis points of AUM.  Well known players include Betterment, Wealthfront, Motif and Folio, among others.
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      The reason why I think Robo advisors would be a great additional strategy to EasyEquities is because they are familiar with the procedures of startups. They would help enhance the quality, secure, and efficiency of the company.
sawsanenn

Jumo - LeapFrog Investments - 1 views

leapfroginvest.com/jumo

Financial inclusion FinTech Africa Service Asia

shared by sawsanenn on 12 Feb 21 - No Cached
  • So far JUMO has analysed more than 33 terabytes of data to serve more than nine million customers in seven countries across Africa and Asia, including Tanzania, Kenya, Uganda, Ghana, Zambia and Pakistan.
  • Its mission is to build and operate inclusive digital banking marketplaces to advance financial inclusion for the 80 per cent of the world’s population who are excluded or underserved by traditional financial services.
  • As an investor partner, LeapFrog’s financial services expertise is being used for product design and multi-country rollouts, to turbocharge Jumo’s growth and spur financial inclusion across Africa.
    • ghtazi
      ghtazi on 13 Feb 21
       
      I think that this is a very smart move since it will help the company to grow and spur financial inclusion across Africa.
  • ...4 more annotations...
  • 100% of its customers are estimated to be low-income, earning less than $10 per day PPP, and approximately 80% have never interacted with formal financial offerings before using the platform. The company has extensive expansion plans for both Africa and now Asia, with CEO and Founder, Andrew Watkins-Ball having relocated to Singapore to drive expansion.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it describes the customer segment targetted by Jumo straightforwardly. It says that 100% of Jumo customers are low-income, and around 80% of them have never been exposed to formal financial offerings before using Jumo.
  • Jumo is a disruptive fintech business that is rapidly reshaping how ethical financial products reach consumers and SMEs in emerging markets. Its mission is to build and operate inclusive digital banking marketplaces to advance financial inclusion for the 80 per cent of the world’s population who are excluded or underserved by traditional financial services.
  • By creating a customer-centric platform that enables the distribution of leading-edge financial offerings instantly and on-mobile, JUMO is generating access at an unprecedented rate
  • Advancing inclusive access to and usage of affordable formal financial services is vital to promoting vital financial health, economic empowerment, financial stability and sustainable growth. Yet emerging markets have negligible penetration of formal financial services: savings is chronically underdeveloped and the majority of the world’s 2 billion unbanked adults are found in low- and middle-income emerging markets.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      we can conclude that Jumo offers diversified financial services that are affordable to their customer's target which is mainly new entrepreneurs
  • chaimaa-rachid on 12 Feb 21
     
    JUMO clients are evaluated to be low-income, obtaining less than $ 10 every day, and around eighty percent have never collaborated with formal monetary offers utilizing the stage.
  • hindelquarrouti on 13 Feb 21
     
    Jumo's goal is that of including the 80% of the world's population that is currently not benefiting from financial services. This company is targeting low and low-middle class as they are the categorise that are usually neglected by traditional finance services. In doing this, it is mainly targeting Asia and Africa
  • mohammed_ab on 13 Feb 21
     
    JUMO serves a big market of underbanked people or people will low access to financial services. I like how the company gives the opportunity to small businesses that wish to grow and expand to borrow money at a low cost.
hichamachir

Former Kiva.org CEO Brings New App, a 'Branchless Bank' to Kenya - WSJ - 0 views

www.wsj.com/...BL-VCDB-16975

Kiva Loans Africa

shared by hichamachir on 12 Feb 21 - No Cached
  • The former chief executive and co-founder of nonprofit lending platform Kiva.org, Matt Flannery, on Wednesday revealed his latest initiative Branch International Inc., which he calls “a mobile-based microfinance institution for the world.” Branch raised $1.4 million in equity seed funding from Formation 8 and the Khosla Impact Fund. In many ways, Branch operates like a bank in the cloud, one that is accessible not through local “branch” offices, but through a user’s smartphone. It provides small amounts of credit--up to $20--to Android users in Africa, specifically Kenya today, but doesn’t take deposits.
    • hichamachir
      hichamachir on 12 Feb 21
       
      Kiva is a problem solving company! It's a brilliant business that contributed on making loans easy. I think that this company has great future because the crowdfunding services in Africa are yet to improve.
mbellakbail69

South African fintech JUMO scooped up $55 million in funding - 0 views

www.businessinsider.com/d-55-million-in-funding-2020-2

shared by mbellakbail69 on 09 Feb 21 - No Cached
  • JUMO offers a wide range of services to users in emerging markets via partnerships with other financial institutions
    • nourserghini
      nourserghini on 09 Feb 21
       
      Jumo delivers services to third parties in emerging markets using partnership with other financial institutions.
  • JUMO offers financial services infrastructure to third parties and has served over 15 million customers across countries, including Ghana, Kenya, Pakistan, and Tanzania, and it plans to use the fresh capital to launch new products and expand into new markets: It's set to launch in Bangladesh, India, Côte d'Ivoire, and Nigeria soon, per its website.
    • nourserghini
      nourserghini on 09 Feb 21
       
      The article shows that Jumo specializes in financial services infrastructure to third parties. It operates in African countries such as Ghana, Kenya and Tanzania.
  • South African fintech JUMO scooped up $55 million in funding
    • nourserghini
      nourserghini on 09 Feb 21
       
      Jumo's original location is in South Africa.
  • ...8 more annotations...
  • And while JUMO is focused on serving customers in emerging markets, it should use the fresh captial to offer more consumer products, like loan products, to better close the financial inclusion gap in these regions.
  • JUMO's partners include Telenor and Telenor Microfinance Bank, with which it launched its first commercial product in Asia in 2018, and Tigo, Airtel, and MTN with which it offers short-term loans in Kenya, Zambia, and Uganda. With help of the latest funding, JUMO will be able to further boost such partnerships, and become a more dominant player in the financial services industries in emerging markets.
    • mehdibella
      mehdibella on 13 Feb 21
       
      jUMO is focused on serving customers in emerging markets, it should use the fresh captial to offer more consumer products
  • JUMO offers this technology stack to partners, including telecommunication firms and other financial institutions, to power their financial products and serve consumers via their respective platforms.
  • The fintech's technology stack includes a lending product that gives entrepreneurs quick access to funds or asset finance, and JUMO has so far disbursed over $1.8 billion in loans. It also provides savings options to clients, including short-term, structure, and long-term products, and works together with underwriters and insurers to create standalone insurance products to "safeguard incomes, families, assets, and businesses".
    • ghtazi
      ghtazi on 13 Feb 21
       
      JUMO has already distributed 1.8 billion USD loans, it gives also the possibility to its users to have savings options to clients, including short term, structure, and long-term products. The company also ensures the creation of standalone insurance products.
  • JUMO's debt and equity round included participation from both new and existing investors, like Goldman Sachs, Odey Asset Management, and Leapfrog Investments, per TechStartups.com.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects the nature of funding that Jumo secures whether through debt or equity; new or existing investors.
  • JUMO's business model of working with third parties helps it to diversify its distribution channels, and allows for quicker expansion — which is likely boosting investor interest in the fintech. To further diversify its offering, and make a bigger impact on serving the financially excluded population in emerging markets, JUMO should look into offering more consumer products, including loan options and bank accounts, as most of its offerings currently focus on serving entrepreneurs and businesses.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because first it clearly states the business model of Jumo. Then, it discusses the possibilities of (geographical) expansion and diversification of offerings (more consumer products, loan options, bank accounts etc).
  • JUMO's business model of working with third parties helps it to diversify its distribution channels, and allows for quicker expansion — which is likely boosting investor interest in the fintech. To further diversify its offering, and make a bigger impact on serving the financially excluded population in emerging markets, JUMO should look into offering more consumer products, including loan options and bank accounts, as most of its offerings currently focus on serving entrepreneurs and businesses.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt included the services that jumo offers, the business model, and some recommendation that the company should consider improving the platform
  • Additionally, only 27% of the population in Southeast Asia has a bank account, leaving a financial inclusion gap of around 438 million consumers. And we've seen fintechs that aim to close this gap attract significant investor interest in the past year: Investment in African fintechs increased by 155% from $111 million in 2018, to $283 million, while Southeast Asian fintechs saw funding surge of 69% from $588 million to $993 million over the same period, per CB Insights.
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