Skip to main content

Home/ Spring 21 Capstone 640pm/ Group items tagged Transaction

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
ghtazi

Mukuru | Company Profiles | Africa Outlook Magazine - 0 views

www.africaoutlookmag.com/...1130-mukuru

Mukuru Transformative Solution Easy

shared by ghtazi on 13 Feb 21 - No Cached
  • What Andy Jury is referring to is the backstory behind Mukuru.  “Our founders were in this same boat,” he adds, “and what started out as a desire to iron out personal wrinkles, in getting money home to their friends and family, morphed into a realisation that there was a massive business opportunity if we could build a simple, secure, rapid means of affordably being able to send money.”  A remittances-led financial services company that was brought to life to empower financially under-serviced migrants, Mukuru has become renowned as the go-to platform to send money in a convenient, safe and affordable manner across Africa.  “We wanted to produce a transformative solution that was simple to use and accessible to anyone with a mobile device,” Jury, the company’s Group CEO, adds. “It required us to walk in our customers’ shoes, understand the pain points they had with remitting money home and build a solution that addressed these challenges.”  And this is exactly what the company has spent the past decade doing.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Mukuru targets unbanked individuals, ignored migrants and others. The goal was to make money and remittance transfers easier and safer. I believe that they should follow WorldRemit's path and expand more internationally.
  • “We’ve attempted to stay true to this approach as our business has grown, expanded and evolved – if we continue to obsess about trying to understand what customers really need and build solutions to address these requirements, then we’ll be well placed to walk alongside our customer base as their needs evolve.”  Following this philosophy, Mukuru has developed a remittance portfolio that is characterised by a high degree of customer loyalty, trust and repeat business – features that have enabled the company to reach a total 25 million transactions, a figure recorded in late 2018.   
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt is important because it shows that innovation and improvement of customers experience are the keys to Mukuru's success since they put all their focus and attention into their customers
  • What Andy Jury is referring to is the backstory behind Mukuru.  “Our founders were in this same boat,” he adds, “and what started out as a desire to iron out personal wrinkles, in getting money home to their friends and family, morphed into a realisation that there was a massive business opportunity if we could build a simple, secure, rapid means of affordably being able to send money.”  A remittances-led financial services company that was brought to life to empower financially under-serviced migrants, Mukuru has become renowned as the go-to platform to send money in a convenient, safe and affordable manner across Africa.  “We wanted to produce a transformative solution that was simple to use and accessible to anyone with a mobile device,” Jury, the company’s Group CEO, adds. “It required us to walk in our customers’ shoes, understand the pain points they had with remitting money home and build a solution that addressed these challenges.”  And this is exactly what the company has spent the past decade doing.
    • ghtazi
      ghtazi on 13 Feb 21
       
      through this excerpt, we can see that Mukuru wanted to produce a transformation solution that will be easy to use for everyone and accessible to anyone with a mobile phone. they put themselves in the customer's shoes in order to better understand their needs and preferences.
kenza_abdelhaq

How Covid turbocharged the QR revolution - BBC News - 0 views

www.bbc.com/...business-55579480

Fintech Strategy QR codes Payments

shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • He is talking about using QR codes (quick response codes), a technology from the 1990s, which is proving to be very useful in the Covid era.Many restaurants have turned to the tech, which allows customers to see a menu, order and pay just by pointing their smartphone at the black, barcode-like squares.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      In times of Covid businesses adopt more and more QR codes to ease payment transactions, make orders, display menus while avoiding any contact.
mbellakbail69

AgroCenta Raises $790K Pre-Series A Working Capital & Development Funding - Tech Nova - 0 views

technovagh.com/ng-capital-development-funding

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • Through AgroCenta’s CropChain platform, smallholder farmers can execute transactions with accurate information and provide reliable access to financing, inputs and knowledge on agricultural best practices. AgroCenta has increased crop yields of farmers by 40% and increased the average CropChain farmer’s income by 35%.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      I believe that the funding would enable AgroCenta to expand further its small farmer inclusion programs and to acquire crops for contracts for offshoot operation at clear and fair market prices.
nouhaila_zaki

M-Pesa - Wikipedia - 0 views

en.wikipedia.org/M-Pesa

M-Pesa Financial inclusion Kenya

shared by nouhaila_zaki on 12 Feb 21 - No Cached
  • M-Pesa is a branchless banking service; M-Pesa customers can deposit and withdraw money from a network of agents that includes airtime resellers and retail outlets acting as banking agents.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      M-PESA is unique because it offers branchless banking which makes transactions more efficient.
  • It has since expanded to Tanzania, Mozambique, DRC, Lesotho, Ghana, Egypt, Afghanistan and South Africa. Meanwhile services in India, Romania, and Albania have been terminated amid low market uptake. M-Pesa allows users to deposit, withdraw, transfer money, pay for goods and services (Lipa na M-Pesa), access credit and savings, all with a mobile device.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      I like this excerpt because it describes where M-Pesa has successfully expanded and where the company's expansionist efforts failed.
  • M-Pesa is widely seen as demonstrating that it is possible to make a profit while also improving the lives of the poor.[28] Tavneet Suri, based at the Massachusetts Institute of Technology, and William Jack, based at Georgetown University have produced a series of papers extolling benefits of M-Pesa. In particular, their 2016 article published in "Science" has been very influential in the international development community. The much cited result of the paper was, that 'access to M-PESA increased per capita consumption levels and lifted 194,000 households, or 2% of Kenyan households, out of poverty.[29] Global development institutions focusing on the development potential of financial technology frequently cite M-Pesa as a major success story in this respect, citing the poverty-reduction-claim and including a reference to Suri and Jack’s 2016 signature article. In a report on "Financing for Development", the United Nations write: "The digitalization of finance offers new possibilities for greater financial inclusion and alignment with the 2030 Agenda for Sustainable Development and implementation of the Social Development Goals. In Kenya, the expansion of mobile money lifted two per cent of households in the country above the poverty line."[30]
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reports on academic research describing how M-Pesa is the living example of how the search for profit is not antithetical to inclusion and improvement of lives of the poor. Using M-Pesa as a case study, several researchers praise fintech for its ability to offer greater financial inclusion.
chaimaa-rachid

CreditEase Fintech Investment Fund announces investments in three fintech companies - E... - 0 views

www.econotimes.com/three-fintech-companies-596197

worldcover NewYork Finetch

shared by chaimaa-rachid on 13 Feb 21 - No Cached
  • The announcement was made at the 2017 LendIt USA Conference in New York. The three investment transactions include Series C financing round in Trumid, an electronic trading platform for the bond market; Series B financing round in WeConvene, an online corporate access management ERP provider for capital markets; and Seed Round financing round in WorldCover, an innovative peer-to-peer insurance network.
  • chaimaa-rachid on 13 Feb 21
     
    Worldcover, an insurance agency, uses the shared model to interact between farmers and donors, and to provide farmers in non-industrial countries with crop protection against catastrophic events.
mohammed_ab

Cryptocurrencies in FinTech - Don't Ignore It | Avatrade NG - 0 views

www.avatrade.ng/...cryptocurrencies-in-fintech

Fintech Strategy Bitcoin M-Pesa Blockchain

shared by mohammed_ab on 13 Feb 21 - No Cached
  • A whole range of companies within the banking and FinTech industries are starting to explore ways through which they can take advantage of the electronic ledger technology that powers cryptocurrencies, such as Bitcoin
  • A whole range of companies within the banking and FinTech industries are starting to explore ways through which they can take advantage of the electronic ledger technology that powers cryptocurrencies, such as Bitcoin and Ethereum. This distributed system stores data chronologically in segments known as “blocks” which allow for the information to be processed and transferred almost instantaneously. Among the benefits of the blockchain technology, that make it so attractive to FinTech companies and other large institutions, is the lowered risk of fraud since the technology is notoriously difficult to hack, its speed and the fact that it eliminates intermediary steps between parties in a transaction.
  • mohammed_ab on 13 Feb 21
     
    I think that M-Pesa could implement cryptocurrencies like Bitcoin or Etherum in their service. I think that their customer will quickly shift their usage to cryptocurrencies as they offer higher protection from fraud. It could be life-changing for a mobile payment application like M-Pesa.
ayachehbouni

Kenya's Family Bank partners SimbaPay for WeChat transfers - 1 views

www.finextra.com/...-simbapay-for-wechat-transfers

shared by ayachehbouni on 13 Feb 21 - No Cached
  • Family Bank Limited, a leading bank in Kenya, has partnered with London-based financial technology firm SimbaPay to launch an instant money transfer service from Kenya to China through WeChat – a service that will help boost Kenya-China trade. Over seven million customers and businesses in Kenya will now access SimbaPay’s international money transfer service to send money to China’s WeChat Pay from Family Bank’s PesaPap mobile banking application and USSD service. Non-customers too will enjoy the service via a dedicated PayBill number 261059 on MPESA.
  • In addition to the China (WeChat) service, SimbaPay also supports money transfer to Kenya, Uganda, Tanzania, Rwanda, Burundi, Ghana, Nigeria, Madagascar, Niger and India. 
    • nourserghini
      nourserghini on 13 Feb 21
       
      This is interesting because Family bank partnered with Simbapay to offer the Wechat money transfer service to china. Besides this, Simbapay also transfers money to Kenya, Uganda, Tanzania, Rwanda, etc.
  • China is Kenya’s biggest trading partner. In 2017 alone, businesses in Kenya imported well over USD 4 billion worth of goods from China. The current existing solutions for sending money to China take multiple days to reach the recipient’s bank account, with some requiring the supplier to physically visit an agent to collect their money. This new service easily overcomes these barriers.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      I believe that, with this new service increasingly effective, Kenya's traders can replenish stocks more quickly and thus improve trade with the two countries
  • ...1 more annotation...
  • With over 1 billion subscribers, WeChat is the largest payment and social media app in China. This initiative therefore connects Africa’s largest mobile money ecosystem to China’s largest payment service in real-time.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      I believe that the service born from this partnership is very unique and attractive to customers of both platforms as it offers the sender a chance to review the transaction and exchange rate applicable before releasing the payment.
  • mehdi-ezzaoui on 13 Feb 21
     
    Partnership with wechat to send money to China's WeChat Pay from Family Bank's PesaPap mobile banking application and USSD service.
hibaerrai

Fintech, distributed-ledger technology and the token economy | Internal Market, Industr... - 0 views

ec.europa.eu/...fintech_en

Fintech Strategy Distributed Ledger technology Digital

shared by hibaerrai on 13 Feb 21 - No Cached
  • Distributed-ledger technology (DLT) enables safer, faster and cheaper transactions in an ever-increasing number of sectors. The Commission considers DLT as a breakthrough technology that is key for the EU's competitiveness.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Distributed ledger technology can be a very efficient strategy in fintechs because it is time saving, safe and cheaper than other strategies.
mohammed_ab

FinTech Innovation Map Reveals Emerging Technologies - 0 views

www.startus-insights.com/...-reveals-emerging-technologies

Fintech Big Data Strategy

shared by mohammed_ab on 13 Feb 21 - No Cached
  • Big DataIn addition to traditional financial data collection, new data sources such as mobile banking and the Internet of Things (IoT) provide an additional layer of data gathering. Combined with Artificial Intelligence, Big Data analytics utilize large amounts of old and new data to discover hidden patterns for better risk management and fraud detection. New insights from big data improve the understanding of customer behaviors and help banks to create better and more customized products and services.
    • nourserghini
      nourserghini on 13 Feb 21
       
      Big data analytics is another technology that fintechs have to consider in oredr to manage the important number of customers and data they have.
  • AI helps banks to analyze their Big Data to improve existing solutions and make better decisions. A more recent AI trend is to use its cognitive abilities to go through a large amount of unstructured text and data to generate more insights and to learn natural language. A more intelligent AI chatbot or virtual assistant can take over repetitive “low-value” operations, such as performing small amount transactions, explaining financial products and providing basic financial advice to customers.
  • mohammed_ab on 13 Feb 21
     
    Artificial Intelligence is a great technology that fintech like M-Pesa has to consider as it could have a big impact on their operations. It could help the company to deal with and analyze big data and generate insights that might have taken months to discover with traditional approaches.
omarlahmidi

From stores to the streets: SnapScan's road to a cashless society - Ventureburn - 0 views

ventureburn.com/...ans-road-to-a-cashless-society

SnapScan Africa E-Payments

shared by omarlahmidi on 13 Feb 21 - No Cached
  • SnapScan wants to see a cashless, frictionless society. For the customer, the app poses an alternative to cash and credit cards because it’s faster. Customers don’t need to wait in a queue, or for the PoS terminal to finish processing their payment. You can simply take a picture of the merchant’s unique QR code, enter the amount, and they’ll be notified either via SMS or their PoS system. The merchant can set up the system in five minutes (SnapScan claims) with no hardware required other than a mobile phone. This means that any person selling apples on the street to a department store can integrate SnapScan. There are also fewer costs involved compared to setting up a credit card terminal, the only charge being a 3% transaction fee. Secondly, it’s meant to be more secure. With SnapScan’s method of payment, the merchant never has to handle your details or card. The app user’s card details are stored on their smartphones and protected with their personal PIN codes.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      I think this app is innovative because it has replaced every online shopping cart in which online shoppers do not have to type their information each time they check out.
  • This week, SnapScan rolled its app out to The Big Issue vendors across South Africa, the non-profit magazine that’s usually sold at intersections in urban areas. People with the app can now purchase the latest issue by simply taking a photo of a QR code and typing in the amount they want to pay. There’s no hassle of fiddling for your wallet or looking for change lying around in the car before the light turns green.
    • omarlahmidi
      omarlahmidi on 13 Feb 21
       
      SnapScan is a solution to the big Issue to vendors by just using Qr code
aymanelmamoun

Investrust launches InvestMobile - Telecompaper - 0 views

www.telecompaper.com/...-launches-investmobile--889207

InvestTrust MobilePayment Africa DigitalStrategy

shared by aymanelmamoun on 13 Feb 21 - No Cached
  • Zambia's Investrust Bank launched InvestMobile, its mobile banking service. The product will be rolled out to existing account holders before being extended to unbanked communities. InvestMobile works from the handset, providing an account summary of the last seven transactions and supporting payment of bills to various utility companies such as Lusaka Water and Sewerage Company and MultiChoice. Customers will be able to view status on accounts such as term deposits, loan statements and positions on cleared or uncleared cheques and make transfers within the bank and to external accounts at
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      Investrust Bank launched InvestMobile in Zambia as a mobile banking service allowing the company to attract unbanked citizens.
mehdibella

Lipa na M-PESA, Lipa na M-PESA Charges, Lipa na M-PESA Rates - Safaricom - 0 views

www.safaricom.co.ke/...what-is-lipa-na-m-pesa

M-pesa kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • Loosely translated to ‘Pay with M-PESA’ (mobile money service). The service has two components, Paybill and Buy goods. Pay Bill is for remote payments and the customer does not have to be present whilst paying.  The customer has an official relationship with the organization to whom they are making payment and has an “account number” that helps identify the user. The customer inputs a business number (paybill number) for the entity they are paying. Buy goods and services is mostly for retail purchase of goods and services. Both parties immediately confirm these proximity payments via text message. No relationship between the buyer and the organization or account number is required.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      The Lipa Na M-Pesa solution is very clever and adequate. It has two components: The "Pay Bill" where payments is done remotely and The "Buy goods" which is much easier and does not require any account number and the transaction is done via text messages. M-Pesa is offering its customers a huge flexibility in terms of payments solutions which makes it very desirable and highly effective.
  • Loosely translated to ‘Pay with M-PESA’ (mobile money service). The service has two components, Paybill and Buy goods.
  • What is Lipa Na M-PESA
  • ...2 more annotations...
  • Pay Bill is for remote payments and the customer does not have to be present whilst paying.  The customer has an official relationship with the organization to whom they are making payment and has an “account number” that helps identify the user. The customer inputs a business number (paybill number) for the entity they are paying.
  • Buy goods and services is mostly for retail purchase of goods and services. Both parties immediately confirm these proximity payments via text message. No relationship between the buyer and the organization or account number is required.
hibaerrai

SmartelMoney | Home - 0 views

smartelmoney.com

Smartel Money E-payments Lesotho Kenya Fintech

shared by hibaerrai on 12 Feb 21 - No Cached
  • Enjoy the lowest rates in the country, cheaper than internet banking and even cheaper than mobile money. We have kept our fees as low as possible - we are the most affordable option on the market
    • kaoutarchennoufi
      kaoutarchennoufi on 12 Feb 21
       
      The smartelmoney is distinguished by its low costing feature. Obviously, these facilities need to be affordable for many people in order to benefit from them because they are meant to improve lives by enabling people to transfer money at a lower cost.
  • Enjoy the lowest rates in the country, cheaper than internet banking and even cheaper than mobile money. We have kept our fees as low as possible. We are the most affordable option on the market.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      One interesting selling point of this fintech is that you can do all your money transfer and transactions with low costs. It's the cheapest option in Lesotho. The aim is to help consumers so that they can afford these kinds of services.
kaoutarchennoufi

Madaraka Express Ticket - Safaricom - 0 views

www.safaricom.co.ke/...madaraka-express-ticket

Travel ReturnPolicy Bookings Madaraka

shared by kaoutarchennoufi on 13 Feb 21 - No Cached
  • Going to Nairobi or Mombasa? Start off your Madaraka Express experience in style. Simply dial *639# to buy a Madaraka Express ticket and pay via M-PESA. It’s easy and fast! Buy up to a maximum of 5 tickets in one transaction 24/7 from the comfort of your home, office or even while on the go. You can book your ticket seven (7) days in advance plus a return ticket as long as it is within (seven) 7 day window period. You may also buy tickets over the counter at the Mombasa and Nairobi termini and at the respective departing intermediate station or by calling 0709 388888 and paying via M-PESA Group bookings of over 20 passengers must be made nine (9) days to the travel date.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      M-pesa is also present in the travel field! very impressive! The special thing is that it allows people to book their tickets even 7 days before the day they want to travel on and they can also return it as long as it is within the 7 days. The return option is very rare to find in other facilities.
mehdibella

"WatchIT" Provides its Services Electronically through "FawryPay" - Fawry - 0 views

fawry.com/lectronically-through-fawrypay

Kiva kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • In the framework of its concern in making it easy for citizens to pay for accessing its e-services via the Internet, in order to reach a society more dependent on electronic payments; WATCH iT! has announced signing a partnership agreement with Fawry the leading Fintech network in Egypt to offer its services through “Fawry Pay” to the public. WATCH iT! It is the first of its kind in Egypt and the newest in the Middle East and North Africa, where the number of its users reaches 1.5 million users and has a huge library the most diverse, containing more than 650 thousand entertainment hours of movies, series and programs that suit all ages.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Fawry has signed up an agreement with Watch IT in order to expand the Fintech network and encourage online payment in Egypt. Therefore, I believe that this partnership will enable both businesses to reach more customers, increase productivity, and therefore increase profits.
  • "WatchIT" Provides its Services Electronically through "FawryPay" - Fawry
  • In the framework of its concern in making it easy for citizens to pay for accessing its e-services via the Internet, in order to reach a society more dependent on electronic payments; WATCH iT! has announced signing a partnership agreement with Fawry the leading Fintech network in Egypt to offer its services through “Fawry Pay” to the public.
  • ...2 more annotations...
  • Mohamed Okasha, Managing Director of Fawry, said that the partnership with WATCH iT! is the result of a joint cooperation to provide outstanding services to customers, highlighting that “Fawry Pay” payment methods include payment either cash through any of Fawry outlets or online using credit cards (MizaCard, MasterCard and Visa) in addition to bank channels linked to Fawry’s network (ATM, Internet banking, mobile wallets) and also through “myFawry” application available for smart phones.
  • “Fawry Pay” platform provided by Fawry for the online shopping sector, offers customers different payment methods and various e- services. Over one million and 100,000 transactions were made on “Fawry Pay” platform during this year till the end of August 2019 for more than 280 e-merchants dealing with the service.
« First ‹ Previous 181 - 195 of 195
Showing 20▼ items per page