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omarlahmidi

Ethiopia Mobile Wallet and Payment Market Opportunities Databook 2019 Featuring M-Birr,... - 0 views

www.prnewswire.com/...thiopay-yenepay-300963746.html

Belcash Africa Mobile_Payments

shared by omarlahmidi on 11 Feb 21 - No Cached
  • The mobile payment industry in Ethiopia is expected to record a CAGR of 18.7% to reach US$ 7,818.2 million by 2025. The mobile wallet payment segment in value terms increased at a CAGR of 18.3% during 2018-2025.
    • kenzabenessalah
      kenzabenessalah on 11 Feb 21
       
      It is fascinating to see such African companies grow tremendously over a short period of time. EthioPay is among one of the companies that helped the mobile payment industry in Ethiopia increase at a CAGR of 18.3% and is still expecting to grow.
  • The mobile payment industry in Ethiopia is expected to record a CAGR of 18.7% to reach US$ 7,818.2 million by 2025. The mobile wallet payment segment in value terms increased at a CAGR of 18.3% during 2018-2025.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      A significant number of smartphone subscribers are feature phone users, and smartphone users are increasing recently due to the rising availability of more affordable smartphones on the local market.
  • This report provides a comprehensive view on mobile payment / mobile wallet market size and growth dynamics, industry dynamics, retail spending, consumer attitude and behaviour, and competitive landscape in Ethiopia. The report focuses on data-centric analysis of mobile payment market dynamics to help companies understand business and investment opportunities along with risks. It details growth dynamics in 45+ market segments (600+ KPIs) across mobile commerce, mobile P2P transfer (domestic and international remittance), mobile lending, and a range of other payment avenues in Ethiopia.
  • ...5 more annotations...
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This article is very interesting because it briefly introduces the findings of a report that provides a comprehensive view about the Ethiopian mobile payment/mobile wallet industry in which Ethiopay operates.
  • Companies Mentioned M-Birr BelCash Amole EthioPay YenePay
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it enumerates Ethiopay's main competitors.
  • Ethiopia Market Share by Mobile Payment Technology: Provides market share by key mobile payment technologies -
    • ghtazi
      ghtazi on 13 Feb 21
       
      you can pay by : SMS/USSD NFC Code-Based Web-Based
  • Ethiopia Mobile Wallet and Payment Market Opportunities Databook 2019 Featuring M-Birr, BelCash, Amole, EthioPay, YenePay
    • nourserghini
      nourserghini on 13 Feb 21
       
      This article discusses the mobile wallet market in Ethiopia and mentions providers like Belcash such as M-birr, Amole, Ethiopay and YenePay which are potential competitors.
  • Report ScopeThis report provides in-depth market opportunity analysis and growth dynamics of mobile payment industry in Ethiopia. Below is a summary of key market segments:Market Size and ForecastMobile payment and mobile wallet market size and forecast across 45+ markets segments on three essential KPIs - mobile payment transaction value, volume and average transaction value.
    • omarlahmidi
      omarlahmidi on 14 Feb 21
       
      This article discusses the mobile payment industry. It also talks about providers such as Belcash.
ghtazi

Mukuru and WorldRemit Partner to Further Expand Remittance Service into Southern Africa... - 0 views

www.businesswire.com/...e-Service-into-Southern-Africa

Mobile Wallet Cash-Out Fee

shared by ghtazi on 13 Feb 21 - No Cached
  • As a result of the company's deepened collaboration, customers will benefit from guaranteed cash at all times, and there will be no cash-out charges to recipients on cash collections. Until now, customers who received payments into mobile wallets in partnership countries like Zambia would ordinarily pay a cash-out fee when withdrawing cash from a mobile wallet. Now, when a WorldRemit customer sends cash to a recipient in Zambia, and that recipient collects their transfer at a Mukuru booth, the recipient will pay no fee at all.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects the reasons for the partnership between Mukuru and WorldRemit, and the positive consequences emerging from it (suppression of transfer charges).
  • As a result of the company's deepened collaboration, customers will benefit from guaranteed cash at all times, and there will be no cash-out charges to recipients on cash collections. Until now, customers who received payments into mobile wallets in partnership countries like Zambia would ordinarily pay a cash-out fee when withdrawing cash from a mobile wallet. Now, when a WorldRemit customer sends cash to a recipient in Zambia, and that recipient collects their transfer at a Mukuru booth, the recipient will pay no fee at all.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt is important because it also shows how Mukura and Worldremit work as partners
  • As a result of the company's deepened collaboration, customers will benefit from guaranteed cash at all times, and there will be no cash-out charges to recipients on cash collections. Until now, customers who received payments into mobile wallets in partnership countries like Zambia would ordinarily pay a cash-out fee when withdrawing cash from a mobile wallet. Now, when a WorldRemit customer sends cash to a recipient in Zambia, and that recipient collects their transfer at a Mukuru booth, the recipient will pay no fee at all.
    • ghtazi
      ghtazi on 13 Feb 21
       
      this part is very important because it shows us that thanks to the collaborations of the companies, it enables them to guaranteed cash all the time to its customers with no cash out charges.
samielbaqqali

South Africa's $29+ Billion Mobile Wallet & Payment Market, 2016-2025 - Featuring Flick... - 0 views

www.globenewswire.com/...etPOS-SnapScan-and-Zapper.html

Fintech Payments Snapscan

shared by samielbaqqali on 11 Feb 21 - No Cached
  • The mobile payment industry in South Africa is expected to record a CAGR of 12.9% to reach US$ 29,424.3 million by 2025. The mobile wallet payment segment in value terms increased at a CAGR of 12.6% during 2018-2025.This report provides a comprehensive view on mobile payment / mobile wallet market size and growth dynamics, industry dynamics, retail spending, consumer attitude and behaviour, and competitive landscape in South Africa. The report focuses on data-centric analysis of mobile payment market dynamics to help companies understand business and investment opportunities along with risks.
  • The mobile payment industry in South Africa is expected to record a CAGR of 12.9% to reach US$ 29,424.3 million by 2025. The mobile wallet payment segment in value terms increased at a CAGR of 12.6% during 2018-2025.This report provides a comprehensive view on mobile payment / mobile wallet market size and growth dynamics, industry dynamics, retail spending, consumer attitude and behaviour, and competitive landscape in South Africa. The report focuses on data-centric analysis of mobile payment market dynamics to help companies understand business and investment opportunities along with risks. It details growth dynamics in 45+ market segments (600+ KPIs) across mobile commerce, mobile P2P transfer (domestic and international remittance), mobile lending, and a range of other payment avenues in South Africa.
  • hichamachir on 11 Feb 21
     
    In my point of view, the growth of the market size of mobile payment technology is kind of obvious because the world is heading towards a new generation of digitalization and companies are creating new technologies in order to dominate a certain market. SnapScan does offer a new technology which is QR codes and this technology does contribute to the development of the mobile payment technology.
  • samielbaqqali on 12 Feb 21
     
    The increase in mobile payment technology's market size is somewhat evident because the world is moving into a new age of digitalization and businesses are developing new technologies to dominate a certain market.
mehdibella

mobile money made easy by new South African startup | Time - 4 views

time.com/...ricas-new-painless-payment-app

Fintech finance SouthAfrica snapscan

shared by mehdibella on 11 Feb 21 - No Cached
  • A free app available for any smartphone, SnapScan works almost like a pocket ATM linked to the user’s debit or credit card account. Instead of handing over a card, customers scan a unique SnapScan logo posted at the cash register with their camera-enabled phone. They enter the amount, type in a pin code (or use touch ID) and a few seconds later the vendor’s phone chimes with a confirmation sent by SMS. It’s quick, painless, and entirely safe, says Ehlers. SnapScan is backed by Standard Bank, one of South Africa’s biggest banks, and uses cutting-edge fraud protection technology. More to the point, he notes, it means that vendors never have access to actual credit card details. “That means no one is noting down your number so he can go shopping later,” says Ehlers.
  • It’s been so long since 30-year-old Cape Town entrepreneur Kobus Ehlers last used his wallet that he’s not even sure where it is. “My car maybe?” he says as he reflexively scans the cheerfully decorated offices of his startup, SnapScan. When it’s pointed out that leaving a wallet in a car in a city infamous for break-ins and carjackings may not be a good idea, he shrugs. He probably doesn’t even have the equivalent of five dollars in it, he says. “I never use cash. Credit cards are over. There are much better ways to pay for things.”As the co-founder of one of South Africa’s most successful electronic payments apps, Ehlers is of course expected to use his own product. But the real reason he isn’t worried about his wallet is because Cape Town is a city seduced by the idea of cashless and cardless transactions, in no small part because of his company’s success. “You can literally wake up in the morning, buy a cup of coffee, go to your dentist, have lunch, pay your bills, take a taxi, go out for dinner, and donate to your favorite cause without using cash or a card,” says Ehlers. “And in none of that is there any risk of your card details getting stolen, or you getting mugged for your cash.”
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      SnapScan is an example of Fintech's performance. I assume, however, that these kinds of creative companies need to be sponsored by strong organizations. SnapScan is backed by Standard bank and this bank is powerful financial institution in South Africa. So I think that in order to develop their offerings, Fintechs should use the financial power of banks.
  • It’s been so long since 30-year-old Cape Town entrepreneur Kobus Ehlers last used his wallet that he’s not even sure where it is. “My car maybe?” he says as he reflexively scans the cheerfully decorated offices of his startup, SnapScan. When it’s pointed out that leaving a wallet in a car in a city infamous for break-ins and carjackings may not be a good idea, he shrugs. He probably doesn’t even have the equivalent of five dollars in it, he says. “I never use cash. Credit cards are over. There are much better ways to pay for things.”As the co-founder of one of South Africa’s most successful electronic payments apps, Ehlers is of course expected to use his own product. But the real reason he isn’t worried about his wallet is because Cape Town is a city seduced by the idea of cashless and cardless transactions, in no small part because of his company’s success. “You can literally wake up in the morning, buy a cup of coffee, go to your dentist, have lunch, pay your bills, take a taxi, go out for dinner, and donate to your favorite cause without using cash or a card,” says Ehlers. “And in none of that is there any risk of your card details getting stolen, or you getting mugged for your cash.”
  • ...8 more annotations...
  • SnapScan may make mobile payments easy for users, says Ehlers, but the reason why the company has been so successful in South Africa is that it makes processing the payments easy—and cheap—for sellers. With traditional credit card systems, and even Apple Pay, vendors have to buy expensive equipment to process the payments—something small businesses can rarely afford. But SnapScan only requires an upfront investment of the less than five cents it costs to print out their Quick Response [QR] Code, a square, camera-readable version of a traditional bar code that resembles a mosaic tile, and tape it to the cash register. “If someone wants to buy from you and you don’t have a credit card machine, and the person doesn’t have cash, our payment system is the difference between closing the sale and not closing the sale,” says Ehlers. Registration is free, and the company charges retailers an average fee of three percent, on par with most credit card companies.
    • samiatazi
      samiatazi on 13 Feb 21
       
      Snapscan is very useful for Startups and vendors willing to switch and rely on the digital transformation due to both its low cost and effectiveness. additionally, the platform is practical for cashless consumers.
  • It was that question, of how to bring small businesses that couldn’t afford traditional credit processing facilities into an increasingly cashless environment that inspired Ehlers and his co-founders to develop SnapScan. Like many Cape Townians, Ehlers was a fan of the Big Issue, a South African spinoff of a British charity that prints high quality magazines for homeless men and women to sell at a profit in order to work their way off the streets. Most of the vendors ply traffic backed up at intersections for sales. But because of the risk of carjackings, which have nearly doubled in the greater Cape Town area over the past two years, to 1530 reported incidents, few motorists keep cash on hand. “People stopped buying the magazines,” says Ehlers. “A Big Issue vendor comes up and says ‘do you want to buy a magazine,’ and you say ‘I do, but I don’t have cash with me.’ That was a problem we realized we could solve very easily.”
    • samiatazi
      samiatazi on 13 Feb 21
       
      I, personally, think that the best business ideas are the ones solving current issues faced by customers because it would be easier to promote and sell a product to an already existing market. This article points out that the business idea of Snapscan arrised from a simple discussion between a magazine seller and a cashless buyer, now it is one of the biggest Fintechs in Africa. indeed, We should believe in our potential to change others' life.
  • SnapScan customers don’t have to worry about sending their credit card details to online vendors that may not have the latest fraud protection. They just scan the QR code at the virtual checkout like they would in the real world.
  • As a result, SnapScan has been adopted by about 12,000 small and medium businesses in more than 17,000 outlets across South Africa.
  • SnapScan has 150,000 registered users, and processes hundreds of thousands of dollars in payments every day for everything from airline tickets to handcrafted wicker baskets at roadside curio stalls.
    • mehdibella
      mehdibella on 13 Feb 21
       
      I am very proud to hear that the African continent is not only following the mobile payments trend and development, but it is also joining as a leader in the space !
  • A free app available for any smartphone, SnapScan works almost like a pocket ATM linked to the user’s debit or credit card account. Instead of handing over a card, customers scan a unique SnapScan logo posted at the cash register with their camera-enabled phone.
  • SnapScan may make mobile payments easy for users, says Ehlers, but the reason why the company has been so successful in South Africa is that it makes processing the payments easy—and cheap—for sellers.
  • For all the talk of a new cashless society ushered in by the likes of Apple Pay in the United States, it’s going to be a while before a swipe of a phone will buy a meal in most cities. But in Cape Town, it’s already happening. I’ve used my phone to pay for parking, cover a medical bill, order take out, buy groceries at my local farmers market and give money to the homeless woman selling the South African version of Street News at the traffic light. Churchgoers use their phones for donations. My facialist just informed me that I could pay for Botox treatments with SnapScan. I’ll take that as her endorsement of an increasingly popular payment service, and not a hint.
    • ayoubb
      ayoubb on 13 Feb 21
       
      Snapscan
  • hichamachir on 11 Feb 21
     
    SnapScan is an example of the efficiency of fintechs. However, I believe that these kind of innovative businesses need to be backed by strong institutions. SnapScan is backed by Standard bank and this bank is strong financial institution in South Africa. So I think that fintechs can use the financial power of banks in order to improve their services.
  • hindelquarrouti on 13 Feb 21
     
    I believe that by being easy to use and fast, Snapscan found success. However, what encourages customers to use it even more is its cheap cost.
  • chaimaa-rachid on 13 Feb 21
     
    The fact that the company provides an easy-to-use and fast service inspires people to use it.
mbellakbail69

South Africa Mobile Wallet and Payment Market Opportunities (Databook Series) - Market ... - 0 views

www.researchandmarkets.com/...bile-wallet-and-payment-market

Mobile Payment Snapscan

shared by mbellakbail69 on 27 Feb 21 - No Cached
  • South Africa Market Share of Key Mobile Wallet CompaniesProvides market share by key players in value terms.South Africa Market Share by Mobile Payment Technology: Provides market share by key mobile payment technologies –SMS / USSD,NFC,Code Based, andWeb Based.South Africa Mobile Proximity Payment Market Size and ForecastMobile payment and mobile wallet market size and forecast by mobile proximity payment
chaimaa-rachid

Absa Group and MTN enable POS mobile wallet payments - FinTech Futures - 0 views

www.fintechfutures.com/...ble-pos-mobile-wallet-payments

Absa-Group MTN Partnership

shared by chaimaa-rachid on 13 Feb 21 - No Cached
  • Absa Group, the African banking group, has partnered with MTN to enable its customers to pay on POS machines using their mobile wallet.
  • chaimaa-rachid on 13 Feb 21
     
    This partnership will help customers to make payments easily, they just need to enter the phone number connected to their mobile wallet on PoS, and by confirming the deposit, the customer receives the notice on their phone.
nouhaila_zaki

Ethiopia Mobile Wallet and Payment Market Opportunities (Databook Series) - Market Size... - 0 views

www.researchandmarkets.com/...bile-wallet-and-payment-market

Ethiopay Ethiopia Mobile Payment Industry

shared by nouhaila_zaki on 13 Feb 21 - No Cached
  • According to the author, the mobile payment industry in Ethiopia is expected to record a CAGR of 18.7% to reach US$ 7,818.2 million by 2025. The mobile wallet payment segment in value terms increased at a CAGR of 18.3% during 2018-2025.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it introduces the Ethiopian mobile payment industry in which Ethiopay operates, and predicts its evolution.
mehdi-ezzaoui

Ethiopia Mobile Wallet and Payment Market Opportunities Databook 2019 Featuring M-Birr,... - 1 views

markets.businessinsider.com/...le-ethiopay-yenepay-1028714619

Ethiopay payments databook Fintech modernization

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • This report provides a comprehensive view on mobile payment / mobile wallet market size and growth dynamics, industry dynamics, retail spending, consumer attitude and behaviour, and competitive landscape in Ethiopia.
  • mehdi-ezzaoui on 13 Feb 21
     
    this report shows the opportunities of ethiopay to become the leader of the market mobile wallet
ghtazi

Mukuru - ECP Investments - 0 views

www.ecpinvestments.com/...mukuru

Mukuru Funds Expenses

shared by ghtazi on 13 Feb 21 - No Cached
  • Mukuru is uniquely focused on serving low- and middle-income migrants who typically send money home to their families to cover basic living expenses and who otherwise rely on informal and inconsistent channels such as buses, taxis, friends, and family. Through Mukuru, customers can send money through more reliable channels via bank transfer, cash deposit, credit/debit card or via a Mukuru Money Card and/or mobile money wallet. Friends and family members of these customers can then receive the money through the same methods (cash collection, bank transfer, cash to card, or mobile money wallet).
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects some important aspects of the company's operations and business model. 1- The customer segment: low and middle-income migrants in Africa. 2- What problem Mukuru helps to solve: it provides migrants who send money to their families through informal channels with a formal and regulated platform.
  • Mukuru is uniquely focused on serving low- and middle-income migrants who typically send money home to their families to cover basic living expenses and who otherwise rely on informal and inconsistent channels such as buses, taxis, friends, and family. Through Mukuru, customers can send money through more reliable channels via bank transfer, cash deposit, credit/debit card or via a Mukuru Money Card and/or mobile money wallet. Friends and family members of these customers can then receive the money through the same methods (cash collection, bank transfer, cash to card, or mobile money wallet).
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This article shows us the customers that Mukuru is targetting which are low and middle-income migrants and help them to send or receive money to or from their families or surroundings by offering easy services that everybody can understand and proceed it even the illiterate people.
  • Founded in 2004, Mukuru has established a powerful brand affinity with customers built on trust, reliability, and local engagement. The company has grown to operate over 90 remittance corridors, enabling more than 5 million individuals to receive funds to cover living expenses, school fees, medical expenses, and utility bills. Mukuru is supported by world-class regulatory and compliance systems, highly scalable technology architecture, and a comprehensive sales and distribution network.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Mukuru was founded in 2004, and since then the company has built a trustful, reliable with its customers. the company enables more than 5 million individuals to receive funds to cover everyday expenses.
mohammed_ab

Creating a Strategy for the New FinTech Ecosystem - Belatrix Software - 0 views

www.belatrixsf.com/...creating-strategy-fintech

Fintech Strategy M-Pesa Alliances

shared by mohammed_ab on 13 Feb 21 - No Cached
  • 1. Millennials squared – a parable of a digital wallet and beer moneyEarlier this year Sam Crowder stood up at a televised baseball game, and held a sign asking his Mum to send him “beer money”. He included his Venmo account information. Thousands of people sent him money, as his sign went viral. Beyond sharing this story as advice in case you ́re ever thirsty and leave your wallet at home, what it reflects is how the use of new technologies may start with digital natives, but then rapidly spread to other generations. It reflects the inter-generational adoption of, and use of, FinTech technologies.So, when looking at the potential of new services, it is important not just to consider the young people who will adopt it. But what will happen when they introduce the technology to their friends and family. Millennials are the earthquake that shakes companies, and adopt new tech and services at lightning speed. The rest of us are the tsunami of adoption that follows and lead to exponential growth.
  • 2. Facebook, Amazon, Google or Ant Financial will become the largest retail bank in the worldIt’s 2020 and to apply for a loan, instead of going to your local bank branch, you quickly ask Facebook for approval. This is far from fanciful thinking. Even as of today, PayPal is arguably one of the largest retail banks — it has more money in deposits than all but the largest 20 US banks, and offers services from payments, to loans and credit cards (albeit currently via partners). But we believe that one of the major tech companies, whether that is Facebook, Amazon, Google, or Ant Financial (the financial arm of Alibaba) will not only transform retail banking, but rapidly become the largest retail bank in the world.“Some bankers and analyststhink that Google, Facebook, Amazon or the like will not fully enter a highly regulated, low-margin business such as banking. I disagree. What is more, I think banks that are not prepared for such new competitors face certain death”Francisco González, CEO, BBVA
  • hese major tech companies have the platform and the scale to upend retail banking. They already have a digital wallet which underlies the services that enable users to buy and sell on their platforms, such as Google Wallet and Amazon Payments. Facebook Messenger Pay is already available in the US while it recently received an e-money license from the Central Bank of Ireland. This means European users will be able to store and transfer money, and make online purchases. The transition to becoming the largest retail bank in the world will be swift and brutal for traditional banks.
  • ...7 more annotations...
  • 3. Regulators finally make the pivot to supporting the FinTech ecosystemBitX, a bitcoin startup in Singapore, was looking to enter the UK and European markets. Instead of having an arduous journey gaining the required licenses and approvals as it would have expected in the past, BitX was accepted into the regulatory sandbox of the UK’s Financial Conduct Authority. This enabled it to test its services and build its product with the backing of the regulator. This kind of thinking reflects how in the past few years we have seen regulators move from hindering innovation and new services, to proactively supporting and strengthening the FinTech ecosystem.It is a challenging line to take, particularly in the
  • world of finance – to help create the framework and environment for innovation, while also protecting consumers and businesses. However, increasingly we see regulators getting this blend right.For example, the European Union’s Directive on Payment Services (PSD2) will create an EU-wide single market for payments. This will drive new opportunities and innovation in the payment sector, because it will force financial institutions to provide secure access for a third-party service provider to a customer’s online account. Meanwhile, we have seen regulatory sandboxes emerge not just in the UK, but in locations from Singapore to Australia. The US Treasury meanwhile recently announced it will start issuing special purpose national bank charters to FinTech companies.In the future, expect to see the emergence of “RegTech”. This will enable real-time interaction and analysis between regulators and financial institutions. Indeed, thi
  • ch as in New York, London or Singapore. So, although the UK dominates the world of fintech (generating an estimated £6.6billion in FinTech related revenue), leading organizations are looking for inspiration among the innovative services, products and ideas being created from Guadalajara, to Laos, to Kenya.In many cases we can see that the unique financial environment of these locations is resulting in novel ideas. For example, Guadalajara based start-up Kueski uses a person’s digital footprint to assess their credit worthiness – a particular challenge in Mexico where credit is not available to large swathes of the population. In Latin America Tigo Cash is a mobile financial service which already handles more cash than many financial institutions in the region. We will see markets and services emerging which are currently not on anyone’s map, and become some of the most important financial organizations in the world.
    • samiatazi
      samiatazi on 13 Feb 21
       
      this article points out 4 expectations for the fate of FinTech and Financial services. However, I think that the most interesting one is the last one which states that The effect of FinTech advancement is frequently made and experienced outside the usual Hub of Finance, for example, New York, London or Singapore. Giant Companies are searching for inspiration among innovative and creative products, items and thoughts being made from Guadalajara, to Laos, to Kenya. I really like this part too, stating that We will see markets and administrations arising which are as of now not on anybody's guide, and become the absolute most significant Fintechs on the planet.
  • software platform between itself and the banks, so it can view and analyze information in real-time.4. Look beyond the hubs to find innovative ideasAcross Kenya, mobile money has become ubiquitous – being used by at least one person in 96% of Kenyan households. But what is the real impact of mobile money in such countries? One study estimated that M-PESA, the Kenyan mobile money system which enables money to be stored on a phone and be sent via text, has helped lift 2% of Kenyan households out of poverty.What this example demonstrates is that the impact of FinTech innovation is often created and experienced outside of the usual hubs of finance su
  • In the past few years we have seen the rapid evolution of FinTech from generating novel ideas which solve customer problems, to offering core financial services. We have seen the shift from digital startups, characterized by a lack of financial wherewithal and which operated on the edge of tightly regulated markets, to the emergence of mature financial digital organizations at the heart of the traditional financial world.We can describe the development and maturing of FinTech in 3 main waves:The early emergence of digital startups helping consumers. Originally FinTech solutions were the preserve of B2C markets which solved specific customer problems such as offering home loans faster and easier. They used new technologies such as mobile and cloud computing, and were characterized by a laser focus on the customer with all the hall-marks of a digital Silicon-Valley style start-up.Transition to B2B markets. Today FinTech plays a role at the core of B2B innovation in financial markets, and industry observers widely expect B2B FinTech revenues to dwarf those in consumer markets within the next couple of years. Organizations such as Currency Cloud (cross border B2B payments), Payoneer Escrow (escrow services), and Hummingbill (B2B invoice platform) all reflect a maturing industry.The creation of an ecosystem between FinTech and traditional players. FinTech organizations are realizing that the required go-to-market investment, economies of scale, and regulatory needs, means it makes sense to partner with traditional financial institutions. On the other side, established players recognize the value, innovation and potential of FinTech in a world which is increasingly mobile-first. These financial institutions are also adopting many of the methods that FinTechs use so successfully, from a focus on the customer, to using Agile software development, to holding hackathons, and forming accelerators and innovation programs.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt is important because it shows the three waves that each fintech companies go through. Currently, most companies are still in b2b markets which an new innovative role in the financial markets; howver, not all companies are doing the same thing. Some of them still need a real bank ( Not virtual) to make transactions and don't trust softwares.
  • ch as in New York, London or Singapore. So, although the UK dominates the world of fintech (generating an estimated £6.6billion in FinTech related revenue), leading organizations are looking for inspiration among the innovative services, products and ideas being created from Guadalajara, to Laos, to Kenya.In many cases we can see that the unique financial environment of these locations is resulting in novel ideas. For example, Guadalajara based start-up Kueski uses a person’s digital footprint to assess their credit worthiness – a particular challenge in Mexico where credit is not available to large swathes of the population. In Latin America Tigo Cash is a mobile financial service which already handles more cash than many financial institutions in the region. We will see markets and services emerging which are currently not on anyone’s map, and become some of the most important financial organizations in the world.
    • ghtazi
      ghtazi on 13 Feb 21
       
      What this example shows is that beyond the usual finance hubs, such as in New York, London, or Singapore, the influence of FinTech innovation is also generated and experienced.
  • It’s 2020 and to apply for a loan, instead of going to your local bank branch, you quickly ask Facebook for approval. This is far from fanciful thinking. Even as of today, PayPal is arguably one of the largest retail banks — it has more money in deposits than all but the largest 20 US banks, and offers services from payments, to loans and credit cards (albeit currently via partners). But we believe that one of the major tech companies, whether that is Facebook, Amazon, Google, or Ant Financial (the financial arm of Alibaba) will not only transform retail banking, but rapidly become the largest retail bank in the world.
  • mohammed_ab on 13 Feb 21
     
    This article explains how the big e-commerce giant Amazon and the dominant social media platforms will become the largest retail banks in the future. I think that M-Pesa could benefit from strategic alliances or partnerships with these big giants.
kenza_abdelhaq

Ethiopia Mobile Wallet & Payment Market Opportunities (2019 Databook Series): Market Si... - 1 views

www.businesswire.com/...-2025---ResearchAndMarkets.com

Ethiopay Ethiopia Payments market

shared by kenza_abdelhaq on 11 Feb 21 - No Cached
  • Mobile payment and mobile wallet market size and forecast across 45+ markets segments on three essential KPIs - mobile payment transaction value, volume and average transaction value.
    • kenzabenessalah
      kenzabenessalah on 11 Feb 21
       
      EthioPay's market segment focuses on volume, transaction value, and mobile payment transaction value. This is important ;to know because it distinguishes between all the different segments.
  • The mobile payment industry in Ethiopia is expected to record a CAGR of 18.7% to reach US$ 7,818.2 million by 2025. The mobile wallet payment segment in value terms increased at a CAGR of 18.3% during 2018-2025.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      The mobile payment industry in Ethiopia forecasts an important growth of the CAGR.
kaoutarchennoufi

About Us - Fawry - 1 views

fawry.com/aboutus

Fawry Own-patent InternationalStandards Security

shared by kaoutarchennoufi on 10 Feb 21 - No Cached
  • Fawry offers a convenient and reliable way to pay bills and other services  in multiple channels (online, using ATMs , mobile wallets and retail points)Fawry’s network of retailers includes small groceries, pharmacies and stationaries, and post-offices, all equipped with point-of-sale machines – the same ones used for credit card payments.
    • ghtazi
      ghtazi on 10 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
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Fawry offers a variety of services from groceries, to pharmacies, to banking, etc. It's a platform that contains many services to facilitate operations.
  • Based on its own-patented technology, that is fully compliant with international security standards of the ISA 27001 and PA DSS certifications, Fawry performs more than 3 million financial operations daily.Fawry services for businesses include collection services, customer acquisition, electronic cash, payment facilitation, and business-to-business collection centers.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Fawry is a very powerful Egyptian Digital Transformation and E-payments platform thanks to its diverse services provided and its high performance that reaches 3 million financial operations daily. The impressive thing is that it has its own patent that respects the international security standards.
  • Fawry is the Leading Egyptian Digital Transformation & E-Payments Platform, offering financial services to consumers and businesses through more than 194,000 locations and a variety of channels.Fawry offers a convenient and reliable way to pay bills and other services  in multiple channels (online, using ATMs , mobile wallets and retail points)Fawry’s network of retailers includes small groceries, pharmacies and stationaries, and post-offices, all equipped with point-of-sale machines – the same ones used for credit card payments.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Fawry is the largest e-payments platform in Egypt. It proposes all financial services important for the daily life of citizens which makes paying bills and others easier.
  • ...2 more annotations...
  • About Us - Fawry
  • Fawry is the Leading Egyptian Digital Transformation & E-Payments Platform, offering financial services to consumers and businesses through more than 194,000 locations and a variety of channels.
    • mehdibella
      mehdibella on 13 Feb 21
       
      Fawry offers a convenient and reliable way to pay bills and other services in multiple channels (online, using ATMs , mobile wallets and retail points)
tahaemsd

Zeepay and Moneygram team up for African mobile wallet play - 0 views

www.finextra.com/...for-african-mobile-wallet-play

fintech payments africa modernization electronic

shared by tahaemsd on 12 Feb 21 - No Cached
  • MoneyGram a global provider of money transfer services, teamed up with Zeepay, a leading African FINTECH Giant, to allow customers to send money directly to all mobile wallets in Ghana in minutes.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      The partnership between MoneyGram and Zeepay makes it easier for customers to send money to their families and friends in Ghana.
kenza_abdelhaq

TPAY Mobile Acquires Payguru, the Leading Payment Platform in the Middle East - 0 views

thefintechtimes.com/nt-platform-in-the-middle-east

TPay Mobile Algeria Operations

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • Mobile payments are a key payment method in the Middle East and Africa, used by over 50% of the population, most of which is underbanked, and TPAY MOBILE leverages direct carrier billing and wallet billing to unlock access to these customers across 24 countries for its merchant partners.TPAY MOBILE is currently present in Egypt, UAE, KSA, Palestine, Jordan, Qatar, Kuwait, Bahrain, Oman, Tunisia, Iraq, Algeria, Morocco, Turkey, Libya, Sri Lanka, Nigeria, Tanzania, Kenya, Ghana, Mozambique, Uganda, Zambia, and Zimbabwe.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Geographical scope of Tpay Mobile's Operations.
  • The Company is headquartered in the UAE, with teams based in Egypt. Our shareholders are – Helios Investment Partners , the leading Africa-focused private investment firm, and A15 , the Middle East’s leading tech investment fund.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Tpay Mobile shareholders are African and Middle East leading firms.
  • kenza_abdelhaq on 12 Feb 21
     
    "Mobile payments are a key payment method in the Middle East and Africa, used by over 50% of the population, most of which is underbanked, and TPAY MOBILE leverages direct carrier billing and wallet billing to unlock access to these customers across 24 countries for its merchant partners. TPAY MOBILE is currently present in Egypt, UAE, KSA, Palestine, Jordan, Qatar, Kuwait, Bahrain, Oman, Tunisia, Iraq, Algeria, Morocco, Turkey, Libya, Sri Lanka, Nigeria, Tanzania, Kenya, Ghana, Mozambique, Uganda, Zambia, and Zimbabwe."
kenza_abdelhaq

Hello Paisa money transfers now available for payout through Western Union | Blog | Wes... - 0 views

www.westernunion.com/...sfers-now-available-for-payout

HelloPaisa South Africa Remittance Partnership

shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • This partnership enables Hello Paisa customers to send money from South Africa to their family and loved ones for pay-out into billions of bank accounts in more than 100 countries, millions of wallets in a dozen countries or to Western Union’s retail network across 200 countries and territories.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      The partnership with Western Union allowed HelloPaisa to go global. The company's customers can now send funds from South Africa to hundred of other countries.
  • kenza_abdelhaq on 13 Feb 21
     
    "This partnership enables Hello Paisa customers to send money from South Africa to their family and loved ones for pay-out into billions of bank accounts in more than 100 countries, millions of wallets in a dozen countries or to Western Union's retail network across 200 countries and territories."
samielbaqqali

Zeepay, Small World FS Launch Mobile Money Wallets Partnership in Ghana | Finance Magnates - 0 views

www.financemagnates.com/...y-wallets-partnership-in-ghana

Zeepay Partnership Mobie

shared by samielbaqqali on 13 Feb 21 - No Cached
  • Payments provider Small World FS and Ghanaian mobile financial services aggregator Zeepay have struck a partnership to offer mobile money wallets in Ghana.
    • samielbaqqali
      samielbaqqali on 13 Feb 21
       
      Partnerships make a brand name more famous and improve the quality of services.
nouhaila_zaki

Ant and Covid have made the humble QR code a hit | Financial Times - 0 views

www.ft.com/...4c-141c-487f-afb4-cd4c92e823fd

M-Pesa Kenya Offerings Scope

shared by nouhaila_zaki on 13 Feb 21 - No Cached
  • The Chinese platforms were not the only payment innovation using mobile phones at the time. Safaricom, a mobile phone operator, launched its M-Pesa payment system in Kenya in 2007, allowing people to load cash on e-wallets and send it by text. M-Pesa is now in seven countries and has its own QR-based smartphone app.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it brings to the fore a very interesting functionality of M-Pesa, in addition to the number of countries that use M-Pesa regularly.
  • nouhaila_zaki on 13 Feb 21
     
    "The Chinese platforms were not the only payment innovation using mobile phones at the time. Safaricom, a mobile phone operator, launched its M-Pesa payment system in Kenya in 2007, allowing people to load cash on e-wallets and send it by text. M-Pesa is now in seven countries and has its own QR-based smartphone app."
mbellakbail69

Digital Payments Firm Strikes Gold in Egypt, Where Cash Is King - Bloomberg - 0 views

www.bloomberg.com/...ld-in-egypt-where-cash-is-king

shared by mbellakbail69 on 12 Feb 21 - No Cached
  • An Egyptian digital payments firm has quadrupled in value during the pandemic, helped by a government push to reduce citizens’ heavy reliance on cash. Investors and analysts are split on whether the stock rally has further legs.
  • A 300% rally from a mid-March low has boosted its market value to 20 billion Egyptian pounds ($1.3 billion). That puts Fawry among the country’s 10 most valuable companies alongside firms such as Telecom Egypt Co. and Elswedy Electric Co., which generate many times more revenue and profit.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      In addition to the opportunity the Covid-19 crisis has created to Fintech companies such as Fawry, The North African nation's central bank asking lenders to find a way to make sure all citizens have access to financial services, focusing on digital payments and mobile wallets, is also one of the main reasons behind the rise in the company's valuation as it resulted in its services being needed more than ever before.
  • Egypt, where it’s common for government employees to ring doorbells to collect cash payments for gas and electricity bills, is trying to shift more transactions digital. The North African nation’s central bank has asked lenders to set a strategy to ensure all citizens have access to financial services, focusing on digital payments and mobile wallets. The regulator is also pushing consumers to use payment platforms such as Fawry in an attempt to curb the spread of the new coronavirus.#lazy-img-364482620:before{padding-top:56.25%;}
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects how the Egyptian government and central bank contributed to the prosperity of Fawry during the covid-19 pandemic.
  • ...1 more annotation...
  • The National Bank of Egypt is looking to buy stakes in Aman, Raya Holding for Financial Investments’ e-payment subsidiary, which was planned to IPO in three years, the local business newspaper Al Mal reported in 2019. MM Group for Industry & International Trade SAE is also planning to begin procedures to list non-banking investments firm Ebtikar next year, according to Daily News Egypt.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      All the same, Fawry's surging stock price may encourage further investment in Egypt's e-payment sector.
  • hichamachir on 12 Feb 21
     
    I believe that digitalization helped many companies to boost their profits during the pandemic. Fawry's is the leading Fintech company in Egypt and the pandemic served this company very well.
  • nouhaila_zaki on 13 Feb 21
     
    "Egypt, where it's common for government employees to ring doorbells to collect cash payments for gas and electricity bills, is trying to shift more transactions digital. The North African nation's central bank has asked lenders to set a strategy to ensure all citizens have access to financial services, focusing on digital payments and mobile wallets. The regulator is also pushing consumers to use payment platforms such as Fawry in an attempt to curb the spread of the new coronavirus."
mehdibella

Credit scoring the unbanked - alternative solutions used in global markets | Penser - 0 views

www.penser.co.uk/...lutions-used-in-global-markets

Jumo Fintech finance SouthAfrica

shared by mehdibella on 12 Feb 21 - No Cached
  • JUMO builds its credit profiles using behavioral data gathered from mobile wallets, cell phones and transaction data.
  • JUMO is a transaction and predictive technology platform that partners with mobile network operators and banks to offer customers microloans and access to savings and insurance products. They are currently active in six markets – Ghana, Tanzania, Kenya, Uganda, Zambia and Pakistan – with plans to soon launch in India, Bangladesh, Côte d’Ivoire and Nigeria. JUMO has helped disburse over $1.6 billion in funding to small and micro enterprises, and has helped connect over 15 million people to credit and savings services.
    • hindelquarrouti
      hindelquarrouti on 13 Feb 21
       
      Jumo is currently operating in different countries in Africa. It has been successful in funding small and micro enterprises, providing credit and saving services. Also, it collects behavioural data from transaction or even cell phones, this is very interesting as it contributes in creating financial identity.
  • JUMO builds its credit profiles using behavioral data gathered from mobile wallets, cell phones and transaction data.
  • ...4 more annotations...
  • JUMO works with a number of mobile network operators and financial service providers, including Airtel, MTN, Telenor, Ecobank, Barclays Africa among others.
    • mehdibella
      mehdibella on 13 Feb 21
       
      They are currently active in six markets (Ghana, Tanzania, Kenya, Uganda, Zambia and Pakistan) with plans to soon launch in India, Bangladesh, Côte d'Ivoire and Nigeria.
  • This creates a financial identity and credit rating for low-income individuals and enterprises, who can then access savings, loan and insurance products through a mobile interface.
    • mehdibella
      mehdibella on 13 Feb 21
       
      JUMO has helped disburse over $1.6 billion in funding to small and micro enterprises, and has helped connect over 15 million people to credit and savings services.
  • JUMO is a transaction and predictive technology platform that partners with mobile network operators and banks to offer customers microloans and access to savings and insurance products. They are currently active in six markets – Ghana, Tanzania, Kenya, Uganda, Zambia and Pakistan – with plans to soon launch in India, Bangladesh, Côte d’Ivoire and Nigeria. JUMO has helped disburse over $1.6 billion in funding to small and micro enterprises, and has helped connect over 15 million people to credit and savings services.
  • JUMO builds its credit profiles using behavioral data gathered from mobile wallets, cell phones and transaction data. This creates a financial identity and credit rating for low-income individuals and enterprises, who can then access savings, loan and insurance products through a mobile interface. JUMO works with a number of mobile network operators and financial service providers, including Airtel, MTN, Telenor, Ecobank, Barclays Africa among others.
  • chaimaa-rachid on 12 Feb 21
     
    It makes a monetary identity and a financial assessment for low-pay people and organizations, who would then be able to get to reserve funds, credits through mobile phone.
  • ...1 more comment...
  • hichamachir on 12 Feb 21
     
    JUMO is a very interesting company that offers many important services like micoloans and insurance products. I believe that this company is doing a great business because of its variety of important services.
  • hindelquarrouti on 13 Feb 21
     
    Jumo is currently operating in different countries in Africa. It has been successful in funding small and micro enterprises, providing credit and saving services. Also, it collects behavioural data from transaction or even cell phones, this is very interesting as it contributes in creating financial identity.
  • mohammed_ab on 13 Feb 21
     
    This article explains the procedures and technology used by JUMO in order to create a credit rating for its customers. This credit rating allows the company to know the amount of loan they can give to someone.
mehdibella

Leading digital financial services company Carbon from Nigeria posted all-time high gro... - 0 views

thefintechtimes.com/all-time-high-growth-last-year

Bank Transfer Money Telecom Fintech Strategy

shared by mehdibella on 13 Feb 21 - No Cached
  • Lagos, Nigeria – Leading digital financial services company, Carbon, has released it’s 2019 financial statements audited by KPMG, detailing its product growth and $17.5mm in revenue.Carbon began operations in 2012 and within the space of six years, it grew revenue steadily, reaching an all-time high of $17.5mm in full-year 2019. In the same year, Carbon expanded its product offerings to the Kenyan market and it’s disbursement volumes have grown from N13bn (2018) to N23bn.Formerly called Paylater, Carbon pioneered instant lending in Nigeria and was the first mobile app to provide access to credit digitally and without requesting individuals to present the documents and collateral traditionally associated with accessing loans. Earlier this year, Carbon introduced its iOS app and USSD (*1303#) service. It also announced its Disrupt Fund, a $100,000 Pan-African fund to address the lack of capital for African tech startups.“The company will continue to share it’s audited financials annually, thus upholding a culture of transparency and accountability,” says Ngozi Dozie, Founder of Carbon.So far this year, Carbon has introduced multiple new features for its customer base including Carbon Express: a keyboard allowing users to make payments from any social app, periodic investments, free bank transfers, monthly wallet interest, and more.Carbon also plans to introduce debit cards, a reward program for loyal customers and SME accounts for entrepreneurs, in the months to come.You can find the full annual report here (https://bit.ly/2YNuvPw).About Carbon: Carbon (https://getCarbon.co) is a pan-African digital financial institution accessible via smartphones and which provides individuals with access to credit, a fee-free/interest-earning wallet, simple payments solutions, high-yield investment opportunities and easy-to-use tools for personal financial management.Our mission is to empower opportunity globally through friction-free finance that empowers individuals and businesses. We are a global company of over 100 employees with operations in Nigeria, England and Kenya.
    • samiatazi
      samiatazi on 13 Feb 21
       
      Carbon started operations in 2012 and gradually expanded its revenues over six years to an all-day volume of $17.5 million over the whole year of 2019. In the same year, the commodity offerings were extended by Carbon to Kenya and volumes of disbursements were raised, from N13bn (2018) to N23bn. All these information show the sustainable development and brilliant achievement of the company.
  • Carbon began operations in 2012 and within the space of six years, it grew revenue steadily, reaching an all-time high of $17.5mm in full-year 2019. In the same year, Carbon expanded its product offerings to the Kenyan market and it’s disbursement volumes have grown from N13bn (2018) to N23bn.
  • Leading digital financial services company Carbon from Nigeria posted all-time high growth last year
  • ...2 more annotations...
  • “The company will continue to share it’s audited financials annually, thus upholding a culture of transparency and accountability,” says Ngozi Dozie, Founder of Carbon.
  • So far this year, Carbon has introduced multiple new features for its customer base including Carbon Express: a keyboard allowing users to make payments from any social app, periodic investments, free bank transfers, monthly wallet interest, and more.
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