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sawsanenn

Paga Definition - 0 views

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

FinTech E-payments Nigeria competition

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

M-Pesa - 2 views

www.investopedia.com/...mpesa.asp

M-Pesa Financial inclusion Kenya

shared by nouhaila_zaki on 07 Feb 21 - No Cached
  • One of the drives for Fintech innovations, like M-Pesa, is financial inclusion, which is mostly geared toward an underbanked or unbanked group of people.
    • nouhaila_zaki
      nouhaila_zaki on 07 Feb 21
       
      Financial inclusion is a main priority of M-Pesa.
  • M-Pesa is a virtual banking system that provides transaction services through a SIM card. Once the SIM has been inserted into the card slot of the mobile device, users can make payments and transfer money to vendors and family members with SMS messages. Users with no bank accounts can access the numerous M-Pesa outlets distributed across the country. The money that needs to be stored is given to the kiosk attendant, who transfers the amount in digital form to the user’s M-Pesa’s account. Cash collected from M-Pesa is deposited in bank accounts held by Safaricom. The bank accounts serve as regular checking accounts and are insured up to a maximum of 100,000 shillings (or $1000) by the Deposit Protection Fund. M-Pesa provides receipts as proof of transaction. For a transaction to take place, both parties have to exchange each other’s phone numbers because the phone numbers act as account numbers. After settlement, both parties receive an SMS notification with the full name of the counterparty and the amount of funds deposited or withdrawn from the user’s account. The mobile receipt, which is received within seconds, helps to promote transparency for all individuals involved in a transaction.
    • nouhaila_zaki
      nouhaila_zaki on 07 Feb 21
       
      This excerpt is important because it explains how this mobile banking service operates. 1. Payments are made through SMS messages. 2. Cash collected by M-Pesa is deposited in bank accounts held by Safaricom. 3. Phone numbers act as account numbers. 4. M-Pesa provides receipts as proof of transaction.
  • M-Pesa is a virtual banking system that provides transaction services through a SIM card. Once the SIM has been inserted into the card slot of the mobile device, users can make payments and transfer money to vendors and family members with SMS messages. Users with no bank accounts can access the numerous M-Pesa outlets distributed across the country. The money that needs to be stored is given to the kiosk attendant, who transfers the amount in digital form to the user’s M-Pesa’s account. Cash collected from M-Pesa is deposited in bank accounts held by Safaricom. The bank accounts serve as regular checking accounts and are insured up to a maximum of 100,000 shillings (or $1000) by the Deposit Protection Fund. M-Pesa provides receipts as proof of transaction. For a transaction to take place, both parties have to exchange each other’s phone numbers because the phone numbers act as account numbers. After settlement, both parties receive an SMS notification with the full name of the counterparty and the amount of funds deposited or withdrawn from the user’s account. The mobile receipt, which is received within seconds, helps to promote transparency for all individuals involved in a transaction.
    • ghtazi
      ghtazi on 08 Feb 21
       
      this article shows us how M-Pesa is a virtual system that provides transaction services through a SIM card. 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.
  • ...9 more annotations...
  • A farmer has no bank account and wants to deposit his commodity sale proceeds of 1,000 shillings goes to an M-Pesa outlet and deposits the money with the kiosk agent or attendant. The agent, in turn, uses her phone to access the client’s account with the client’s registered phone number and credit the account for 1,000 shillings.
    • ghtazi
      ghtazi on 08 Feb 21
       
      M-Pesa target customers are anybody who has a phone.
  • M-Pesa is a mobile banking service that allows users to store and transfer money through their mobile phones. M-Pesa was introduced in Kenya as an alternative way for the population of the country to have access to financial services. Safaricom, the largest mobile phone operator in Kenya, launched M-Pesa in 2007. The service is a blend of two entities where M means mobile and Pesa means money or payment in the Swahili language.
  • Financial inclusion is an initiative that seeks to include residents who have no access to banks or who can’t afford the required minimum deposits in the digital banking era. In order for this initiative to succeed, different sectors must collaborate in sharing data with each other and build a meaningful digital platform.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      I like how M-PESA gave opportunities for those who cannot afford to have bank accounts , an alternative to still have access to those services.
  • Through mobile payment services like M-Pesa, the standard of living in Kenya has improved greatly. Market traders, debt collectors, farmers, and cab drivers don’t need to carry around or transact in a large amount of cash. This means that the occurrence of theft, robbery, and fraud is reduced. Also, individuals and business owners don’t have to wait in long lines for hours to make their electricity and water bill payments because these can be made using M-Pesa.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      The mobile payment industry was revolutionized by M-Pesa. The value of this business in the financial industry is demonstrated by the fact that the term M-Pesa has a financial significance. I believe that by using digitalisation in a way that can benefit people and solve their problems, M-Pesa has gained its impact.
  • To combat fraud, Safaricom mandates that users of a Safaricom SIM card who want to register for M-Pesa have to do so with a valid government ID such as the Kenyan national identification card or a passport. This way, each transaction is marked with the identification of the party transferring, paying, depositing, or withdrawing money from an account.
    • ghtazi
      ghtazi on 13 Feb 21
       
      to combat fraud they use either a sim card, ID card, or passport. in this way every transaction made will be marked with identifications of the parties transferring money, paying or whatever action it was made.
  • To combat fraud, Safaricom mandates that users of a Safaricom SIM card who want to register for M-Pesa have to do so with a valid government ID such as the Kenyan national identification card or a passport. This way, each transaction is marked with the identification of the party transferring, paying, depositing, or withdrawing money from an account.
  • M-Pesa is one of the innovative tools that have been birthed from the collaboration of telecommunication and banking sectors in East Africa.M-Pesa began in Kenya and is being utilized in 10 countries, including India and Romania. Emergent technology in the financial sector, or Fintech, has made it possible for financial services and products, like M-Pesa, to be more accessible at small costs.M-Pesa makes it possible for unbanked people to pay for and receive goods and services using a mobile phone instead of utilizing a brick-and-mortar bank.
    • nourserghini
      nourserghini on 13 Feb 21
       
      this article explains that M-pesa is a virtual banking platform that gives the opportunity for unbanked or underbanked individuals to conduct transactions through a SIM card.
  • This cross-communication tactic used by M-Pesa is developing rapidly in sub-Saharan Africa, where the telecommunication and banking sectors are working together to create mobile banking services for those with limited access to traditional banking.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      Mobile payment is progressively being used in emerging regions in which a large percentage of the population has little or no access to traditional banking such as Africa
  • Mobile money is increasingly being adopted in developing nations where a high percentage of the population has little or no access to traditional banking. Revolutionary services like Paga, MTN Mobile Money, Airtel Money, and Orange Money are disrupting the traditional payment systems used frequently by residents of emerging nations, by changing the economy from a cash society to a digital one.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects the increasing importance of mobile money i.e. as proposed by M-Pesa in developing countries.
  • hichamachir on 12 Feb 21
     
    M-Pesa revolutionized the mobile payment industry. The fact that the word M-Pesa got a financial meaning shows the importance of this company in the financial industry. I think that M-Pesa gained its influence by using digitalization in way that can help people and solve their problems.
omarlahmidi

The Snapscan effect: how mobile payments made QR codes relevant in South Africa - Memeburn - 3 views

memeburn.com/...codes-relevant-in-south-africa

shared by omarlahmidi on 11 Feb 21 - No Cached
  • “Mobile payment systems are quickly becoming mainstream, and it will be fascinating to see how the more mechanical systems like QR Codes compete,” says World Wide Worx managing director Arthur Goldstuck. “Ideally, there should be room for any system, with each one finding its ideal niche. But there are no certainties in a sector that is moving so fast.”
  • According to new research from technology research company World Wide Worx, the format first took off in the country thanks to BlackBerry Messenger, where it became the quickest way to add a friend. In the past year however gained new life as mobile apps like SnapScan roped it in for payments at small merchants, flea markets and the like. By the end of 2014, the research says, more than 2.1-million South Africans were using QR Codes. Of those 1.1-million were male, with female users only marginally behind, at 1.04-million.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      It is not always simple to develop a new concept. The article showed that applications for QR codes were struggling at first, but I believe that in order to offer a new efficient service, you have to work on your concept and develop it, and SnapScan did an excellent job with that.
  • ability to provide speedy payments without the need for the large-scale tech investments required by the payment technologies emerging in more developed areas of the world.
  • ...4 more annotations...
  • According to the research, QR Code usage is strongly age-related, with 673 000 users in the peak age group of 25-34. In contrast, the 15-24 segment amounts to only 471 000, while 494 000 are aged from 35 to 44. A similar number (425 000) makes up the 45-65 age group. Usage drops significantly with retirement age: the 65+ age group comprises 88 000 users. One possible reason for QR code mobile payment solutions such as Snapscan, Zappa, and FlickPay being so popular in South Africa is their ability to provide speedy payments without the need for the large-scale tech investments required by the payment technologies emerging in more developed areas of the world. This is especially the case with Snapscan, which supplies its merchants with a point of sale QR code and a basic mobile phone to track payments. This has allowed it, for instance, to be rolled out as parking payment method in Cape Town’s congested CBD.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      Mobile payment systems are becoming popular quickly and the more mechanical systems like QR codes are successful it will be interesting to see. Ideally, I believe that every system should be able to find its ideal niche. But in a market that is evolving so rapidly, there are no certainties.
  • Flash back a few years and things weren’t looking great for QR codes.
  • Over the last year however, that’s changed in South Africa, largely thanks to mobile payment apps like SnapScan.
  • According to new research from technology research company World Wide Worx, the format first took off in the country thanks to BlackBerry Messenger, where it became the quickest way to add a friend. In the past year however gained new life as mobile apps like SnapScan roped it in for payments at small merchants, flea markets and the like.
    • omarlahmidi
      omarlahmidi on 13 Feb 21
       
      SnapScan is a mobile payment that changed South Africa
  • hichamachir on 11 Feb 21
     
    Creating a new idea is not always easy. The article showed that QR codes apps were struggling at first but I do believe that you have to work on your idea and improve it in order to deliver a new efficient service and SnapScan did an amazing job with that.
  • hindelquarrouti on 13 Feb 21
     
    SnapScan made a good move in introducing Fintech to developing countries through using QR codes as they don't necessarily require large-scale tech investments that are used in developed area.
  • chaimaa-rachid on 13 Feb 21
     
    In the article, we notice that QR codes struggled at first, but in the end, they did a good job in developing and making their platform better and attractive.
sawsanenn

Ethiopay | F6S - 0 views

www.f6s.com/ethiopay

FinTech E-payments ethiopia Africa modernization

shared by sawsanenn on 11 Feb 21 - No Cached
  • As you may know, Ethiopia well Africa, in general, has skipped the laptop and computer phase of technology straight into the mobile phase of technology this is commonly known as the leapfrog model.
    • kenzabenessalah
      kenzabenessalah on 11 Feb 21
       
      I personally didn't know Ethiopia skipped the laptop and computer phase, therefore, the fact that it is succeeding in the mobile technology industry, makes a great story. This statement is important because it was able to help over 2.5 million Ethiopian families.
  • Ethiopay is a centralized global payout platform that currently enables users a simple and convenient way to transfer and/or purchase cross border bill pay, money transfer, mobile data, and mobile minutes between the United States and Ethiopia.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      Ethiopay is an emerging Fintech solution to adress the social and economic gaps
  • Our platform plans to use the leapfrog model to leverage our technology and give the 45 mill users around Ethiopia a new way to manage bills and provide the over 2.5 million Ethiopian diasporas in the United States a way to help their families
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt is important because it shows how CEOs of ethiopay are willing to invest in the telecom infrastructure, and how Ethiopia has a great potential for e-payment and fintech developement
  • ...4 more annotations...
  • Our Bill-Pay platform concentrates on the core monthly needs such as water, electricity, gas. But we also provide options to purchase Data, manage property payments, and even school tuition fees.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is very important because it highlights what the products and services proposed by Ethiopay serve for. It allows us to better understand what customers need Ethiopay for, which could prove to be very useful when designing products.
  • Ethiopay is a centralized global payout platform that currently enables users a simple and convenient way to transfer and/or purchase cross border bill pay, money transfer, mobile data, and mobile minutes between the United States and Ethiopia. As you may know, Ethiopia well Africa, in general, has skipped the laptop and computer phase of technology straight into the mobile phase of technology this is commonly known as the leapfrog model.
  • Ethiopay is an emerging FinTech solution to address the social and economic gaps left by established payment solutions. Deeply embedded in the communities they serve, the founders of Ethiopay have the combination of entrepreneurial drive, technical skill and through the Georgia FinTech Academy, the FinTech ecosystem support to thrive.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Ethiopay is a platform that is used in Ethiopia to help the citizens a new way to manage bills and give an opportunity for Ethiopians living in the united states to help their families. they have a great combination of entrepreneurial drive and technical skills.
  • Ethiopay is a centralized global payout platform that currently enables users a simple and convenient way to transfer and/or purchase cross border bill pay, money transfer, mobile data, and mobile minutes between the United States and Ethiopia. As you may know, Ethiopia well Africa, in general, has skipped the laptop and computer phase of technology straight into the mobile phase of technology this is com
  • nouhaila_zaki on 13 Feb 21
     
    "Ethiopay is a centralized global payout platform that currently enables users a simple and convenient way to transfer and/or purchase cross border bill pay, money transfer, mobile data, and mobile minutes between the United States and Ethiopia. As you may know, Ethiopia well Africa, in general, has skipped the laptop and computer phase of technology straight into the mobile phase of technology this is commonly known as the leapfrog model. Our platform plans to use the leapfrog model to leverage our technology and give the 45 mill users around Ethiopia a new way to manage bills and provide the over 2.5 million Ethiopian diasporas in the United States a way to help their families. Our Bill-Pay platform concentrates on the core monthly needs such as water, electricity, gas. But we also provide options to purchase Data, manage property payments, and even school tuition fees."
hibaerrai

Thndr Becomes Egypt's First Mobile Investment App | NileFM | EGYPT'S#1 FOR HIT MUSIC - 0 views

nilefm.com/...-you-to-invest-in-stocks-bonds

Thndr Egypt Fintech Investment Securities

shared by hibaerrai on 07 Feb 21 - No Cached
  • Savings and investing is a critical part of building wealth and economic development, and Egypt’s youth needs a mobile-first platform like Thndr to open the floodgates of investing in the coming decades. Platforms like Thndr have seen great success in other markets across the world, and Thndr is built with keen attention to the local nuances and preferences of the Egyptian investor in mind.
    • ayachehbouni
      ayachehbouni on 07 Feb 21
       
      The financial startup allows users to link their Egyptian bank account, and trade, invest, and profit from Egyptian stocks, bonds, and indices. Thndr also allows users a virtual EGP 100,000 to practice investing until they get the hand of stock investment.
  • Egyptian mobile investment app, Thndr has become the first brokerage firm to receive regulatory approval from the Financial Regulatory Association (FRA) in the last 12 years. The financial startup allows users to link their Egyptian bank account, and trade, invest, and profit from Egyptian stocks, bonds, and indices. The decision by FRA to give the startup regulatory approval comes after Egypt reforms its financial regulations on new companies with the recently approved Banking Act passed last month which allows more companies to become involved with financial trading and investment.
    • aminej
      aminej on 13 Feb 21
       
      THNDR Strategy aims to educate more egyptian people about trading and investing which are very good ways to make money in the short and long run. They also want to facilitate access to financial markets only through your phone for Egyptians who are almost 100m (HUGE CUSTOMER TARGET), Finally they plan to educate their population by teaching them how to invest in stocks, bonds and other securities.
  • Before the passing of the Banking Act in July 2020, the only financial apps available for Egyptians were applications that helped you put aside money for saving. However, that is set to change as companies like Thndr take advantage of the new space given to financial technology companies to allow users to invest in the Egyptian stock exchange from their homes. Stock investment apps have become popular in the last few years as a way to not only save money but to make savings grow over time. While there is always risk involved with stock trading, Thndr hoping to provide users with education on how to invest in order to be more financial secure.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Thndr is one of the first not common investment applications in Egypt. users can now invest in stocks or any other security from their homes and make money from it.
  • hibaerrai on 08 Feb 21
     
    Thndr was mainly created for a new wave of customers in order to destroy the barriers and give the chance to all egyptians to open accounts and invest.
aymanelmamoun

Standard Bank SnapScan - The quick, reliable, and secure payment solution for your busi... - 0 views

businesstech.co.za/...ent-solution-for-your-business

FinTech SnapScan E-Payment Africa Technology

shared by aymanelmamoun on 13 Feb 21 - No Cached
  • SnapScan lets users make payments with their phone – quickly, easily, and safely. All SnapScan-supported stores have their own unique SnapCode (which is a QR code), and customers can make a payment in-store to them by scanning the code using the camera on their phone and the SnapScan app. Additionally, SnapScan lets users send money to friends, make online payments, pay bills, buy prepaid services in the app, and earn UCount Rewards Points when making a purchase.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      SnapScan provides an easy solution that is highly ideal for small and medium-sized companies anywhere and at any time. In times where electrical payment systems are not available, SnapScan is also a great solution.
    • omarlahmidi
      omarlahmidi on 13 Feb 21
       
      SnapScan make customer's life easier by online payments, sending money to friends.
  • All SnapScan-supported stores have their own unique SnapCode (which is a QR code), and customers can make a payment in-store to them by scanning the code using the camera on their phone and the SnapScan app. Additionally, SnapScan lets users send money to friends, make online payments, pay bills, buy prepaid services in the app, and earn UCount Rewards Points when making a purchase
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      SnapScan is very innovative in the way that they offer QR code scanning to pay. Payment with camera allows the customer to pay bills, prepaid app-services, earn rewards, etc.
  • SnapScan is compatible with most bank cards, as well as the Standard Bank Virtual Card, and as a result is currently one of the most popular mobile payment apps in South Africa.
    • omarlahmidi
      omarlahmidi on 13 Feb 21
       
      SnapScan make customer's life easier by making online payments and sending money to friends.
  • ...1 more annotation...
  • SnapScan lets users make payments with their phone – quickly, easily, and safely. All SnapScan-supported stores have their own unique SnapCode (which is a QR code), and customers can make a payment in-store to them by scanning the code using the camera on their phone and the SnapScan app. Additionally, SnapScan lets users send money to friends, make online payments, pay bills, buy prepaid services in the app, and earn UCount Rewards Points when making a purchase.
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
mbellakbail69

Generation Start-up: MoneyFellows is offering the underbanked easy access to quick loan... - 0 views

www.thenationalnews.com/...ccess-to-quick-loans-1.1083642

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • Users wanting to join a circle on MoneyFellows need to complete basic identity verification if the payout is low. If the payout is higher, the users will need to provide more documents such as income verification and assets owned to the company, which will provide a credit score.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      Legal contracts also have to be signed to ensure that, in case someone does not pay, legal actions can be taken against them. This kind of features are what made users trust Moneyfellows.
  • Today, MoneyFellows has racked up more than 500,000 users, of which 200,000 are active. Active users refer to those who have completed their accreditation by providing all of the documents required and have joined money circles. Mr Wadi estimates that a “few hundred million Egyptian pounds” have rotated through the platform.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      MoneyFellows' revenue has been growing between 35 and 45 per cent month-on-month despite the fact that the concept of digital money circles is new to many Egyptians.
mehdi-ezzaoui

SimbaPay launches purely SMS-based Money Remittance option for Feature Phone users powe... - 1 views

innov8tiv.com/nce-option-feature-phone-users

SimbaPay Kenya payments service

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • he London-based digital money transfer services SimbaPay has now launched a new money remittance services that will purely operate via SMS. That means even people with no internet and using just a feature phone can now use SimbaPay to send or receive money. This is a huge step for the company, as it now enters a bigger pool of users, both with smartphones plus internet access combined with those without smartphones and/or not internet access. The new SimbaPay SMS money remittance services went live yesterday, and now users from around the world can use the service on any device from anywhere via the good-old SMS. The new SMS service is powered by artificial intelligence that has seen SimbaPay integrate a chatbot at the other end of the user.
  • mehdi-ezzaoui on 13 Feb 21
     
    new feature in simbapay service
nouhaila_zaki

Paga - an Unreasonable company - 0 views

unreasonablegroup.com/...paga

Paga Nigeria Overview Company Size

shared by nouhaila_zaki on 13 Feb 21 - No Cached
  • Leading application to send and receive payments in Nigeria, with more than 8.4 million users. Founded in 2009 with the simple belief that technology can transform lives by delivering universal access to financial services, Paga is now the top mobile payment service in Nigeria, used by more than 12 million individual users, while employing nearly 22,000 Paga agents. Anyone with a mobile phone can send money to the recipient's mobile phone number which can then be collected either through a Paga agent or an ATM without the use of a card. Paga can also be used for airtime credits, bill payments, and retail. The company is constantly evolving to bridge the gap between commerce, financial services, and economic development within Nigeria's emerging economy.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Paga is now Nigeria's top mobile payment service, and it is used by more than 12 million individuals, while approximately 22,000 Paga agents are working. everyone can use it if they have a mobile phone. users can transfer money to the mobile phone number of the recipient, which can then be collected without using a card, either through a Paga agent or an ATM. Paga can also be used for airtime credits, retail, and bill payments.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is a great introduction to what Paga does, how many users it has, and what it can be used for. A great overview of the company.
  • COMPANY SIZE 101–200
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      Knowing the company size allows us to assess the capabilities and resources available to Paga, which can prove to be very useful when analyzing corporate strategies and developing new ones for Paga.
nourserghini

Mobile currency in Kenya: the M-Pesa | Centre For Public Impact (CPI) - 0 views

www.centreforpublicimpact.org/...m-currency-in-kenya

Mpesa Payments Kenya pricing

shared by nourserghini on 12 Feb 21 - No Cached
  • M-Pesa “grew at a blistering pace following its inception in 2007.” [1] In less than two years from its launch, M-Pesa had become the leading money transfer method in the country, with over 50 percent of people sending money via M-Pesa and over 65 percent receiving funds through the system in 2009. By 2015 there were 19.9 million active M-Pesa users, up 18 percent from 2013/14. It is said that 43 percent of Kenya's GDP flowed through M-Pesa, with over 237 million person-to-person transactions.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      M-PESA grew tremendously as a company that over 50% of people began using it.
  • M-Pesa is an SMS-based system that enables users to deposit, send and withdraw funds using their mobile phone. Customers do not need to have a bank account and can transact at any of the country's 40,000 agent outlets. Registration and deposits are free and pricing for most other transactions is based on a tiered structure to allow even the lowest-income users to use the system. Transaction values are typically small, ranging from US$5 to US$30.
    • nourserghini
      nourserghini on 13 Feb 21
       
      This part shows that the range value of transactions are from 5 to 30 dollars. Pricing is also based on a structure to allow all income users to benefit from the service.
ayoubb

MoneyFellows | Partech - 0 views

partechpartners.com/...moneyfellows

shared by ayoubb on 13 Feb 21 - No Cached
  • MoneyFellows users can benefit from some of the following features:Flexible payment options (Credit Card, salary deduction, Direct Debit, Fawry payments, cash collection);Guaranteed payout dates and amounts;Secure Money Circles - users always receive 100% of their payout, even if other members of the circle are late or miss payments;Smart Credit Scoring System, where users continuously build up their score to unlock higher payouts;A variety of benefits for employees of their corporate partners.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      different options and features for moneyfellows
  • For thousands of years, people have participated in offline Money Circles in the same way, facing a great number of difficulties and limitations. MoneyFellows digitizes the ROSCA model, making it more, secure, manageable and automated. Users can always find available Money Circles without being limited to their social network or geographic location and with a much larger variety of Payout dates and amounts
    • ayoubb
      ayoubb on 13 Feb 21
       
      MoneyFellows:
sawsanenn

M-PESA | Innovations for Poverty Action - 1 views

www.poverty-action.org/...m-pesa

Financial inclusion Africa FinTech Service

shared by sawsanenn on 12 Feb 21 - No Cached
  • M-Pesa (M for mobile, pesa is Swahili for money) is a mobile-phone based money transfer and microfinancing service, launched in 2007 by Vodafone for Safaricom and Vodacom, the largest mobile network operators in Kenya and Tanzania. It has since expanded to Afghanistan, South Africa, India and in 2014 to Eastern Europe. M-Pesa allows users with a national ID card or passport to deposit, withdraw, and transfer money easily with a mobile device.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      Instead of going through the hassle of depositing or transferring money face to face, people can do that through a mobile device.
  • M-Pesa allows users with a national ID card or passport to deposit, withdraw, and transfer money easily with a mobile device.
    • ghtazi
      ghtazi on 13 Feb 21
       
      M-Pesa allows users that have a national ID card or passport to use their mobile phones either to transfer money, deposit, or withdraw easily and safely.
  • M-Pesa (M for mobile, pesa is Swahili for money) is a mobile-phone based money transfer and microfinancing service, launched in 2007 by Vodafone for Safaricom and Vodacom, the largest mobile network operators in Kenya and Tanzania. It has since expanded to Afghanistan, South Africa, India and in 2014 to Eastern Europe. M-Pesa allows users with a national ID card or passport to deposit, withdraw, and transfer money easily with a mobile device.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      M-Pesa extended its business in different countries and in the different continent which allowed her to attract more customers and grew its business
nourserghini

M-Pesa to send cash direct to China's WeChat users - Business Daily - 0 views

www.businessdailyafrica.com/...o-china-s-wechat-users-2229748

Simbapay Mpesa Customers

shared by nourserghini on 13 Feb 21 - No Cached
  • The partnership between Family Bank Limited and London-based financial technology firm SimbaPay will enable the 23,946,174 active M-Pesa users in Kenya to send money to over 1 billion active WeChat subscribers in China.
    • nourserghini
      nourserghini on 13 Feb 21
       
      Besides the previously mentioned 7 million of Kenyans, Simbapay is targeting an extra 23,946,174 Mpesa users to use its platform for further money transfers and this can only increase its value in the market.
mehdi-ezzaoui

SimbaPay is now processing money transfers to Ghana and Uganda | TechCabal - 1 views

techcabal.com/...-transfers-to-ghana-and-uganda

SimbaPay payments transfer money Fintech

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • Money transfer company, SimbaPay, has expanded its services to Ghana and Uganda. This means that SimbaPay users living in Europe can transfer money to their loved ones via mobile money or their bank accounts. SimbaPay users with a bank account or debit card can use the service to securely make money transfers. The transfers are credited to recipients immediately or after 3 days depending on which option the user selects. Recipients can then access the money through mobile money channels or via their bank accounts.
  • mehdi-ezzaoui on 13 Feb 21
     
    Simbapay has expanded its services to Ghana and Uganda. This means that SimbaPay users living in Europe can transfer money to their loved ones via mobile money or their bank accounts.
mbellakbail69

Egypt's MoneyFellows raises $4 million Series A to expand its digital money circles pla... - 0 views

www.menabytes.com/moneyfellows-series-a

shared by mbellakbail69 on 10 Feb 21 - No Cached
  • Founded in late 2016 by Ahmed Wadi, MoneyFellows has digitized the concept of money circles (ROSCAs) which are commonly known as gam’eya in Egypt and other Arab countries, through its online platform.
    • ayachehbouni
      ayachehbouni on 10 Feb 21
       
      The Egyptian fintech currently has over 150,000 active users that are verified by a user assessment algorithm. It also works with different corporates in Egypt, enabling their employees to participate in the money circles for saving money.
  • Egypt's MoneyFellows raises $4 million Series A to expand its digital money circles platform to Africa
    • ayoubb
      ayoubb on 13 Feb 21
       
      MoneyFellows
  • MoneyFellows with its mobile-based platform has digitized this entire process with a scoring model that compliments offline model, making it more scalable, safe, and efficient. In a statement, the Egyptian fintech said that it currently has over 150,000 active users that are verified by a user assessment algorithm. It also works with different corporates in Egypt, enabling their employees to participate in the money circles for saving money. 
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.
aminej

HOOD - Read Your Car's Mind - 0 views

hoodeg.com

Egypt Innovative Car Driving Fintech App Online Service

shared by aminej on 12 Feb 21 - No Cached
  • Hood is designed to rest assure your mind by collecting a big cloud of data that keeps track of your car’s mileage, gas usage, performance, and its engine health to save your money, time and energy . also, Hood informs you of every little detail about your cars; drivers’ driving habits The device also keeps track of each driver’s driving score to keep you aware of possible bad driving habits
    • aminej
      aminej on 12 Feb 21
       
      I love this concept which can be very useful in Morocco since we have a big number of cars. Indeed, most people forget to take some important measures of control and safety for their cars because they are too busy working. This app can help you stay in touch with any issue concerning your car that could cause you an issue and help you know it before something happens.
  • Hood provides a device for users’ cars that is synced with Hood’s mobile application. The app informs the user when an error is detected and whether it is minor or requires immediate attention. Users can also check and clear the code of the engine light, track their trip history, locate the nearest car shop, keep their gas expenses in check, monetize the car’s movement and have a big cloud of data
    • aminej
      aminej on 12 Feb 21
       
      I believe that this could work in Morocco very well because we are the second country with the highest number of cars in Africa after Egypt, so there is a big customer target of almost 4 million cars with 110.000 cars being imported every year
tahaemsd

mpesa_d_1540.pdf - 0 views

fintech development africa technology

shared by tahaemsd on 12 Feb 21 - No Cached
  • n April 2007, following a donor‐funded pilot project, Safaricom launched a new mobile phone‐based payment and money transfer service, known as M‐PESA. 10 The service allows users to deposit money into an account stored on their cell phones, to send balances using SMS technology to other users (including sellers of goods and services), and to redeem deposits for regular money. Charges, deducted from users’ accounts, are levied when e‐float is sent, and when cash is withdrawn.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      M‐PESA has spread quickly, and has become the most successful mobile phone‐based financial service in the developing world.
kenza_abdelhaq

Dubai fintech Tpay Mobile acquires Turkish payments company Payguru - 0 views

www.menabytes.com/tpay-mobile-payguru

TPay Mobile Algeria Acquisitions

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • Founded in 2014 as the first open mobile payment platform of the region, Tpay Mobile was acquired by leading African private investment firm Helios Investment Partner. The firm had acquired a 76 percent stake in Tpay Mobile in 2018, creating a dragon exit for A15, the firm that had founded it. Tpay has previously also acquired its Cairo-based rival DCBEgypt in 2017. Sahar Salama, Founder and Chief Executive Officer of Tpay Mobile, said, “Tpay Mobile is on an accelerated growth trajectory, and the acquisition of Payguru fast-tracks our vision to become the leading digital payment platform in the Middle East and Africa, guaranteeing a best in class user experience, and offering innovative services to our partners, and further driving digital and financial inclusion in our region.”
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Four years after its creation, Tpay Mobile was acquired by Helios Investment Partner firm. To eliminate its competition, position its self as the leading digital payment platform in the MEA region and offer diverse and innovative services to their customers, Tpay Mobile acquired Cairo based rival DCBEgypt in 2017 and Payguru in 2020.
  • kenza_abdelhaq on 12 Feb 21
     
    "Founded in 2014 as the first open mobile payment platform of the region, Tpay Mobile was acquired by leading African private investment firm Helios Investment Partner. The firm had acquired a 76 percent stake in Tpay Mobile in 2018, creating a dragon exit for A15, the firm that had founded it. Tpay has previously also acquired its Cairo-based rival DCBEgypt in 2017. Sahar Salama, Founder and Chief Executive Officer of Tpay Mobile, said, "Tpay Mobile is on an accelerated growth trajectory, and the acquisition of Payguru fast-tracks our vision to become the leading digital payment platform in the Middle East and Africa, guaranteeing a best in class user experience, and offering innovative services to our partners, and further driving digital and financial inclusion in our region.""
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