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mehdibella

M-Pesa - 0 views

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

M-pesa kenya Nairobi Fintech finance

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

Kenyan Agri-Tech Startup FarmDrive Secures Latest Round Of Investment From 5 Investors - 0 views

thechiefobserver.com/...of-investment-from-5-investors

shared by ayachehbouni on 13 Feb 21 - No Cached
  • The investment will allow FarmDrive to scale to US$13 million of loan originations in 2019 with minimal losses and exceptional returns using RiPe, a customisable lending engine that will allow lenders to plug in and access low-cost loan origination channels such as USSD, credit scoring, identity verification, and a portfolio management suite that includes recovery and collections, payments, customer support, and advanced real-time data analytics.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      In order to be able to help more farmers, FarmDrive needs funding and is doing a great job at finding it.
mehdi-ezzaoui

SIMBA Payment App Launches Using Stellar Network - 1 views

www.globenewswire.com/...hes-Using-Stellar-Network.html

SimbaPay Kenya Stellar Network payments

shared by mehdi-ezzaoui on 13 Feb 21 - No Cached
  • SIMBA Pay is open source and designed for developers who wish to integrate blockchain-based payment systems. SIMBA Pay offers built-in support for a wide array of third-party technologies and services, including CoinBase and cold wallets. The ease-of-use for developers will accelerate the growth of the cryptocurrency industry and make integrations with traditional financial systems easier down the road. “We believe our technology stack provides a unique advantage for developers,” said Joel Neidig, CEO of SIMBA Chain. “SIMBA’s world-class developer tools have already made cloud-based dapps easier to create than ever and provide transparency and verification for complex digital workflows. It’s never been easier to jump into this exciting space, no matter where you are in your developer journey.” “We are excited to see SIMBA Chain, a Stellar Service Provider, launch their open source payment application to foster greater adoption of Stellar and end-user accessibility through lower fees as compared with traditional payment solutions,” said Boris Reznikov, Director of Business Development at the Stellar Development Foundation.
  • mehdi-ezzaoui on 13 Feb 21
     
    Simba pay app launches a new service using stellar network
ghtazi

Fintech and Banks: Four Ways Banks Can Respond Better | Toptal - 0 views

www.toptal.com/...fintech-and-banks

Fintech technology Financial

shared by ghtazi on 13 Feb 21 - No Cached
  • The response by banks right now to fintech disruption is critical due to the current stage of the nascent industry’s development. Fintech startups are broadly focused on the concept of unbundling banks, offering one type of product/service and concentrating on doing it VERY well.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This response might/ can change if they adopt this digital strategy. Not only it will help banks with better customer services and reduce their prices which can attract more costumers, besides there is also better branding. This last advantage does attract many customers since they search for innovative products.
  • Fintech, shortened from financial technology, is assumed to be a modern movement, yet the use of technology to assist financial services is by no means a recent phenomenon. Financial services is an industry that introduced credit cards in the 1950s, internet banking in the 1990s and since the turn of the millennium, contactless payment technology. Yet, fintech’s place in the public conscience has really taken off in the past three years:
    • ghtazi
      ghtazi on 13 Feb 21
       
      Fintech is considered to be a new trend, shortened from financial technology, but the use of technology to support financial services is by no means a recent phenomenon. Financial services is an industry that introduced contactless payment technology to credit cards in the 1950s, internet banking in the 1990s, and after the turn of the millennium.
sawsanenn

Frontiers | FinTech: A New Hedge for a Financial Re-intermediation. Strategy and Risk P... - 0 views

www.frontiersin.org/...full

FinTech Financial inclusion Strategies

shared by sawsanenn on 13 Feb 21 - No Cached
  • FinTechs and the Value Chains in the Financial IndustryIt is beneficial to remember how things worked before and after FinTechs and TechFins or big techs in the financial industry.Banking models are shifting significantly from a pipeline, vertical, paradigm, to modular solutions that pave the way to new banking paradigms that entail higher levels of openness toward third parties and a growing number of modular services bundled together.Value is created in platforms through economies of scope in production and innovation (Gawer, 2014). In order for platforms to work, adoption and network effects are essential. Models can go to mere compliance with the prescriptions of openness of PSD2, to the inclusion of new services, the opening of the banking core and data, and the aggregation of those within a platform experience. In particular, we assist both to the evolution of a Bank-as-a-Platform model and a tech-platform-driven model supporting banking and financial intermediation, which both constitute a new interesting field of analysis.Since the wave of digital transformation started entering the financial industr
  • , banking-as-a-business has started moving from a product/service perspective to more contextual solutions where providers are customer needs-driven. This is because customer-driven companies outperform the shareholder-driven ones, and this requires an outside-in approach.Having said that, it is beneficial to remember that digital transformation implies four main categories of innovation (product, process, organizational and business model) (Omarini, 2019, p. 340); all of them require rediscovering that a new strategy paradigm exists. This regards the concept of co-creation, and because of this no single firm can unilaterally carry out a process of continuous experimentation, risk reduction, time compression, and minimizing investment while maximizing market impact. Co-creation requires access to resources from extended networks (suppliers, partners, and consumer communities).Under these new market conditions, FinTechs have become an important piece of a bigger puzzle, each one in its own area of business (payment, lending, etc.), while at the beg
  • inning most of them started as mono-business companies. Only a few of them may become leaders in the market. On the one hand, there are those that make their strategy become international, and on the other, there are FinTechs which enlarge their services-scopes. However, the majority of them will become part of ecosystems where the direction could swing from banks to tech companies or to FinTechs as well, able to manage the network by developing kinds of conglomerate-as-a-service.Another interesting point to outline regards this recent period where all of us have experienced lockdowns around the world, and some effects have also impacted FinTechs as well. The valuations of most unicorns have crashed overnight, while on the FinTechs side there are different situations. Some of them have experienced a dramatic reduction in their
  • ...6 more annotations...
  • strategy development process, especially when the various units and individuals in the network must collectively execute that strategy. The key issue is this: balancing act between collaborating and competing is delicate and crucial” (Prahalad and Ramaswamy, 2004, p. 197).If co-creation is fundamental to the industry, this needs to leverage on a wider customer perspective that requires introducing the idea of developing ecosystems where the customer is truly free to move and choose the best deal in more competitive markets able to let consumers' ability to make informed decisions against any possible market concentrations among market providers.A business ecosystem (Moore, 1996) reflects the new paradigm of competition in a better way. Traditional management models aimed at gaining competitive advantage, such as vertical or horizontal integration, economies of scale and scope, are not effective anymore. The value of today's companies is determined by the size of its ecosystem (Tewari, 2014). Business ecosystems consist in crossovers of a variety of industries, of which companies cooperate and embrace open innovation to satisfy new customers' needs an
    • samiatazi
      samiatazi on 13 Feb 21
       
      Digital transformation implies four main categories of innovation: product, process, organizational and business model. FinTechs have become a significant piece of a greater riddle, every one in its own zone of business. The victors are those that have sufficient liquidity and money to purchase great innovation. This is particularly valid for installments that will be progressively contactless. Individuals costs and per-client commitment edge are key elements, and important markers. The more wellsprings of incomes an organization holds, the better it is for it to be a FinTech.
  • evaluation, others were quite lucky and suffered less.There are many and different feelings on the way FinTechs will exit this situation, which as far as we understand has overall accelerated some strategic choices.First of all, there are many and different FinTechs in the market. What is critical is to look at the fundamentals of the business. All of them are about answering what society is going to look like in the future (attitudes, behaviors, habits, etc.), so that if we no longer need to go to retail stores anymore, why do we need some services based on this situation? This, again, underlines that banking is a people business (Omarini, 2015) and this requires a business to be resilient to become adaptive to consumer changes or moves into a different market where you can still apply the service because the society is not yet ready to shift somewhere else, which means the same business in different markets. Just think of the ongoing situation where the recent wave of people is rethinking and restructuring their finances, so that they have decided to switch rates to digital banks. In this scenario, the winners are those that have enough liquidity—or better still cash-rich—to buy good technology and invest in new directions, also taking the opportunity to use the pandemic to its advantage. This is especially true for payments that are going to be increasingly contactless. However, some more les
  • sons can be learnt from difficult times especially due to external factors such as the following:- People costs and per-customer contribution margin are key factors, and valuable indicators. They are valuable for incumbents too. When staff costs rise, then this becomes a burden if growth is not going to move on. Then, if we move on the per-customer contribution margin (revenue, minus variable costs including credit losses), then this makes a FinTech earn more money per bank account than the cost of running those bank accounts.- One more point has to do with the way a FinTech makes its revenues per customer, and net income is the figure to look out for here. This means that the more sources of revenues a company holds, the better it is for it. If we think of some of the best-known FinTechs, they gather their net income from interchange fees, ATM withdrawals, which can diminish during the pandemic, but gathering revenues from other sources such as lending, investing, or again from referring customers to third-party services, and earning commissions from these referrals.Under this oncoming market structure configuration, a focus on control and ownership of resources is giving way to the importance of accessing and leveraging resources through unique ways of collaboration. “The co-creation process also challenges the assumption that only the firm's aspirations matter. (…) Every participant in the experience network collaborates in value creation and competes in value extraction. This result in constant tension in the
  • One more point has to do with the way a FinTech makes its revenues per customer, and net income is the figure to look out for here. This means that the more sources of revenues a company holds, the better it is for it. If we think of some of the best-known FinTechs, they gather their net income from interchange fees, ATM withdrawals, which can diminish during the pandemic, but gathering revenues from other sources such as lending, investing, or again from referring customers to third-party services, and earning commissions from these referrals.
    • hichamachir
      hichamachir on 13 Feb 21
       
      Pula can benefit so much from expanding its revenues streams. It lets the customers use the product or service in different ways which can't make them feel lazy to use a specific way.
  • The emergence of new technologies and players, along with a favorable regulatory framework (PSD2 Directive), is changing the banking industry. FinTechs and TechFins have allowed the introduction of new services and changed the way customers interact to satisfy their financial needs. The FinTech landscape is constantly evolving in the market. Different business value propositions are entering the financial services industry, moving from increasing the user's experience to developing a time to market framework for banks to innovate products, processes, and channels, increasing the cost efficiency and looking for a “partnering on order” to lighten the regulatory burdens for banks. The many businesses of banks are changing their value chains, and banks' business models should do the same accordingly. Strategists could no longer take their value chains as a given; choices have to be made on what needs to be protected and maintained, what abandoned and the new on coming to make banks evolve and become more resilient in doing their job. Banking is shifting significantly from a pipeline, vertical paradigm, to open banking business models where open innovation, modularity, and ecosystem-based bank's business model may become the ongoing mainstream and paradigm to follow and develop. Opportunities and threats for banks are many and new ones to re-gaining their role in the market throughout a re-intermediation process.
    • ghtazi
      ghtazi on 13 Feb 21
       
      FinTechs and TechFins have enabled new services to be launched and changed the way clients communicate to meet their financial needs. In the industry, the FinTech landscape is continuously changing.
  • They have brought to the traditional banking industry a wave of competition and broken pipeline value chains, unbundling them into different modules of products or services, which may be combined among themselves. These companies on the one hand and the BigTechs (Google, Facebook, Apple, Samsung, Alibaba, etc.) on the other have been forcing the industry to change, transform, and evolve in a set of new financial intermediation directions. Use of data and customer experience are both FinTechs' major assets and threats as well. On the one hand, they please the customers as individuals and introduce the paradigm of contextual banking. On the other, the two selling points are threatening both the incumbent players and regulators in different ways. For banks, it is even more urgent to react actively because their “no fee zone” is expanding, due to new regulations from the Consumer Financial Protection Bureaus (CFPB) and similar entities in different countries.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      Since the digitalization wave entered the banking industry, financial institutions has begun to move from a product/service standpoint to more semantic alternatives where suppliers are pushed by customer needs. This is because the customer-driven firms outclass the investor ones, and this necessitates an outside strategy.
omarlahmidi

What SnapScan can do for South African retail businesses - 1 views

businesstech.co.za/...outh-african-retail-businesses

Africa E-Payments SnapScan

shared by omarlahmidi on 07 Feb 21 - No Cached
  • The overall benefits for businesses and customers include: Safety and security: Customers can pay via their mobile phone and retailers can rest assured knowing that extensive security measures are in place. Speed: It’s fast, as customers simply need to scan the display code at a till point. Convenience: There is no need to carry cash around and paying via SnapScan offers a frictionless experience. Cashless: As customers won’t be using cash, it is easier for businesses to authenticate and formalise transactions. SnapScan is a mobile payments solution with a variety of payment options available for retailers.
  • The overall benefits for businesses and customers include: Safety and security: Customers can pay via their mobile phone and retailers can rest assured knowing that extensive security measures are in place. Speed: It’s fast, as customers simply need to scan the display code at a till point. Convenience: There is no need to carry cash around and paying via SnapScan offers a frictionless experience. Cashless: As customers won’t be using cash, it is easier for businesses to authenticate and formalise transactions. SnapScan is a mobile payments solution with a variety of payment options available for retailers.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      I like the concept of defining SnapScan as a solution for companies looking for a service that is quick and good.
  • SnapScan offers quick, easy, and secure mobile payment solutions to retailers so their customers can enjoy the convenience of paying on the fly. Mobile payments can also mean that staff spend less time processing payments, as SnapScan can be integrated with a variety of leading point-of-sale systems. Businesses that offer delivery services can give their drivers a lanyard with a SnapCode (unique QR code) so customers can pay for goods or services during delivery. Retailers that have an online store can use SnapScan to offer a streamlined and consistent experience to their customers across multiple platforms.
  • ...5 more annotations...
  • Evolving checkout processes are one of the fastest growing trends in the retail space, as users are demanding better and more flexible shopping experiences and payment processes. Because of this, cashless payments and omnichannel options are becoming the norm, putting forward the business case for mobile payments, as they provide customers with a consistent experience. In fact, retailers that are reconfiguring their systems to accommodate increasing mobile customers – who expect multichannel options which support quick and secure digital payments – are more likely to see a boost in sales and growth.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      SnapScan provides retailers with fast, simple, and safe mobile payment solutions so that their customers can easily enjoy floating payments. Mobile purchases can also result in less workload for workers, as SnapScan can be incorporated into a number of leading points of sale systems.
    • omarlahmidi
      omarlahmidi on 13 Feb 21
       
      With the development of the world, digital solutions must be implemented in order to improve shopping experiences for customers
  • SnapScan offers quick, easy, and secure mobile payment solutions to retailers so their customers can enjoy the convenience of paying on the fly.
  • Evolving checkout processes are one of the fastest growing trends in the retail space, as users are demanding better and more flexible shopping experiences and payment processes.
  • Today every industry, but especially the retail industry, is experiencing pressure to implement digital solutions in order to remain competitive.
  • Evolving checkout processes are one of the fastest growing trends in the retail space, as users are demanding better and more flexible shopping experiences and payment processes.
  • hichamachir on 07 Feb 21
     
    I like the idea of identifying SnapScan as a solution for businesses that are looking for a fast and good service. The business delivers a safe, good and fast service which make it a very useful service. SnapScan is another example that shows Fintech improves our life.
  • chaimaa-rachid on 13 Feb 21
     
    I love how Snapscan is constantly creating and innovating to furnish its clients with security and speed while making their mobile payments.
omarlahmidi

Inside SnapScan, SA's app of the year - TechCentral - 2 views

techcentral.co.za/...43230

Africa SnapScan E-Payments

shared by omarlahmidi on 11 Feb 21 - No Cached
  • The company makes its money by charging a small transaction fee to the retailer on each purchase. This fee varies. “We take a small transaction fee, much like the acquiring component to merchant transactions,” Ehlers says. SnapScan has a partnership with Standard Bank, which means it can process transactions at “competitive rates”, he adds. In addition to transaction fees, SnapScan offers its customers the option of accessing analytics or running loyalty programmes, both of which are billed as add-ons.
  • SnapScan co-founder, 28-year-old Kobus Ehlers, says there are a number of benefits to this approach for retailers. “It takes about 30 seconds to sign up. We issue a QR code, which you print, and you’re done.” Merchants without bank accounts can cash out their takings at the end of the day. “Customers can pay with the app, the retailer can then get a voucher code at the end of the day that they can punch in at a Standard Bank ATM — or hand over at a Spar — and get cash.” If customers don’t have the app installed, scanning the QR code will take them to the relevant app store where they can download it.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Low transaction fees are often a strong opportunity to draw customers and this technique is perfectly executed by SnapScan. SnapScan, in my view, plays smart because they deliver a fast and digitalized service with a special QR code technology, so they deserve to win the South African app of the year.
  • If customers don’t have the app installed, scanning the QR code will take them to the relevant app store where they can download it.
  • ...4 more annotations...
  • To use SnapScan, consumers download the app for Apple, Android or BlackBerry, and add their credit card details by taking a picture of their card and creating a Pin. They can then use the app to scan a QR (quick response) code — a type of barcode — in a store and can make payments.
  • The company makes its money by charging a small transaction fee to the retailer on each purchase. This fee varies. “We take a small transaction fee, much like the acquiring component to merchant transactions,” Ehlers says. SnapScan has a partnership with Standard Bank, which means it can process transactions at “competitive rates”, he adds. In addition to transaction fees, SnapScan offers its customers the option of accessing analytics or running loyalty programmes, both of which are billed as add-ons. The company offers three products. The first is an “instant merchant product” aimed at informal retailers who want their takings in cash. The second is the “standard” product that settles into a bank account like a traditional point-of-sale (POS) unit. The third is an “enterprise solution” designed to integrate with existing POS systems.
  • SnapScan works with debit cards and credit cards, and there are no sign-up, setup or installation fees. There is also no monthly fee payable.
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      SnapScan enters the market by offering many facilities to attract new customers. The application supports both debit and credit cards, no sign-ups or installation fees, and payments are made monthly.
  • SnapScan falls under FireID, the company that now houses six start-up technology businesses, SnapScan being the most recently launched. FireID started life as an information security company specialising in “two-factor authentication” technology for mobile phones. It was funded by billionaire Johann Rupert, through Reinet. Justin Stanford, one of FireID’s co-founders, was instrumental in securing the initial capital injection. However, Stanford was unable to convince Reinet’s investment committee to continue investing and in 2011 it pulled its funding of FireID, forcing the company to lay off its 40 employees.
    • omarlahmidi
      omarlahmidi on 13 Feb 21
       
      To attract customers, SnapScan uses many facilities such as accepting credit and debit cards.
  • hichamachir on 11 Feb 21
     
    The low transaction fees are always a good incentive to attract customers and SnapScan are implementing this strategy perfectly. In my opinion, SnapScan is playing smart because they offer a fast and digitalized service with a unique technology which is QR code, so they deserve to win the app of the year in South Africa.
  • chaimaa-rachid on 13 Feb 21
     
    SnapScan offered a digital service. The company has created efficiency and security with its QR code techniques.
  • hindelquarrouti on 13 Feb 21
     
    It is interesting and encouraging to customers the fact that they don't need to pay any sign-up, setup or installation fees in order to benefit from snapscan
ayachehbouni

Family Bank, SimbaPay Launches Instant Money Transfer to China Over WeChat - 0 views

technext.ng/...nt-money-transfer-china-wechat

shared by ayachehbouni on 13 Feb 21 - No Cached
  • This is not the first cross border transfer initiative by SimbaPay. The London-based company supports more cost-effective and efficient transfer of funds across Africa and Asia (11 countries – 9 African, 2 Asian). These are Nigeria, Kenya, Uganda, Tanzania, Rwanda, Burundi, Ghana, Madagascar, Niger, India and now China.
    • nourserghini
      nourserghini on 13 Feb 21
       
      This article proves that Simbapay is known for its strategic initiatives in international transfers from 11 countries in Africa and Asia.
  • SimbaPay developed a third-party payment aggregator that enables funds delivery between Kenyan merchants and their largest source of imports, China. Through SimbaPay’s international money transfer service, merchants and individuals in Kenya would be able to send money to China’s WeChat Pay users from Family Bank’s PesaPap mobile banking application. This can be achieved through M-Pesa and a USSD service
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      This partnership allows for a faster and fa less expensive exchange between China and Kenya.
mehdibella

South African lending startup Jumo raises $12.5 million - 0 views

www.finextra.com/...tartup-jumo-raises-125-million

Jumo Fintech finance SouthAfrica

shared by mehdibella on 11 Feb 21 - No Cached
  • CEO of Jumo, Andrew Watkins-Ball, comments: “We have a proven business model, evidenced in the strategic partnerships we have built with forward-thinking banks, mobile money operators and partners like Uber."
  • Since launch in 2014, more than 10 million people have saved or borrowed on the Jumo platform, with nearly 70% of these being micro and small business owners across Africa and Asia. To date, the company has originated almost US$1 billion in loans and maintained savings growth of over 50% month-on-month on its platform, which manages over 45 million customer interactions per month.
  • Jumo currently has offices in Kenya, Uganda, Tanzania, Ghana, Zambia, Pakistan, United Kingdom, Singapore and South Africa. It set up its Asia Pacific headquarters in Singapore earlier in the year and has plans to enter several new Asian markets in 2019.
  • ...2 more annotations...
  • South African lending startup Jumo raises $12.5 million
  • Since launch in 2014, more than 10 million people have saved or borrowed on the Jumo platform, with nearly 70% of these being micro and small business owners across Africa and Asia. To date, the company has originated almost US$1 billion in loans and maintained savings growth of over 50% month-on-month on its platform, which manages over 45 million customer interactions per month.
    • mehdibella
      mehdibella on 13 Feb 21
       
      JUMO secured another funding round of US$55 million to support market and product expansion.
  • samielbaqqali on 11 Feb 21
     
    The business model is one of the bases of a company success, and making a partnership with a brand name like Uber would increase the number of customers.
  • chaimaa-rachid on 12 Feb 21
     
    Through this article, we notice a lot of people have used the JUMO platform and they are happy with it. The company is ready to enter many new Asian markets since it has been successful in different countries.
mehdibella

Vodacom's joint M-Pesa/Safaricom platform boosts monthly transactions to $20bn - 0 views

www.theafricareport.com/...s-monthly-transactions-to-20bn

M-pesa kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • Vodacom’s joint M-Pesa/Safaricom platform boosts monthly transactions to $20bn
  • This is the outcome of free peer-to-peer M-Pesa transactions, a feature introduced at the onset of COVID-19, the South African network operator said in its latest update to the market on its interim results for the six months that ended on 30 September 2020.
  • The M-Pesa initiative supported rapid platform growth and customer adoption of digital channels “to the point where the M-Pesa ecosystem now processes $20.5bn a month in transactions across our international markets, including Safaricom, and contributed R8bn in revenue in the period.”
mehdibella

South African fintech startup Jumo raises second $50M+ VC round | TechCrunch - 0 views

techcrunch.com/...umo-raises-second-50m-vc-round

Jumo Fintech finance SouthAfrica

shared by mehdibella on 12 Feb 21 - No Cached
  • South African fintech startup Jumo closed a $55 million round from a diverse group of investors, the company confirmed.
  • Nigeria, in particular, has become Africa’s unofficial capital for fintech development, surpassing Kenya in 2019 for drawing the most fintech specific and overall VC on the continent
  • Jumo joins a growing list of African digital-finance startups raising big money from outside investors and expanding abroad.
  • ...4 more annotations...
  • Jumo is active in six markets and plans to expand to two new countries in Africa (Nigeria and Ivory Coast) and two in Asia (Bangladesh and India).
    • mehdibella
      mehdibella on 13 Feb 21
       
      Jumo joins a growing list of African digital-finance startups raising big money from outside investors and expanding abroad.
  • “I’m excited for our next phase. This backing will help us build a better business and break new ground,” Jumo founder Andrew Watkins-Ball said.
    • ghtazi
      ghtazi on 13 Feb 21
       
      the company has closed around 55 million USD from many investors, which will help the company to expand its products and reach new objectives
  • Founded in 2015 and based in Cape Town, the venture offers a full tech stack for partners to build savings, lending, and insurance products for customers in emerging markets.This week’s funding follows a $52 million raise by Jumo in 2018, led by U.S. investment bank Goldman Sachs, that saw the startup expand to Asia.“This fresh investment comes from new and existing…investors including Goldman Sachs, Odey Asset Management and LeapFrog Investments,” Jumo said in a statement —  though Goldman told TechCrunch its participation in this week’s round isn’t confirmed.After the latest haul, Jumo has raised $146 million in capital, according to Crunchbase.With its latest raise, the company plans to move into new markets and launch new products in Asia and Africa.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it describes first what Jumo proposes as product/services offerings. Thereafter, it tackles the history of funding secured by Jumo in addition to the list of investors that support the company. Finally, the excerpt explains how Jumo intends on investing the money raised, namely expansion in new markets in Asia and Africa in addition to the launch of new products.
  • Nigeria, in particular, has become Africa’s unofficial capital for fintech development, surpassing Kenya in 2019 for drawing the most fintech specific and overall VC on the continent
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt is important because it shows us how jumo expending not only in Africa but also in Asia making fintech grow all over the world
  • hichamachir on 12 Feb 21
     
    JUMO is attracting investors and that means JUMO is doing a great job. Investors are believing in this business and they want to be part of it. That's what happens when you believe in an idea and work hard to improve it.
mehdibella

Fintech for Financial Inclusion & Empowerment | JUMO - 0 views

www.jumo.world/about

Jumo Fintech finance SouthAfrica

shared by mehdibella on 12 Feb 21 - No Cached
  • JUMO partnered with Uber to create JUMO Drive, a first-of-its-kind digital vehicle asset finance product for rideshare drivers.
  • JUMO partnered with Telenor and Telenor Microfinance bank to launch the first commercial product in Asia.
  • The first funding partner was introduced to the operating platform. JUMO’s partnership with Letshego Bank in Ghana enabled payment and capital providers to work together to build products.
  • ...7 more annotations...
  • The use of digital savings, by JUMO in Tanzania and Zambia, grew rapidly.
    • mehdibella
      mehdibella on 13 Feb 21
       
      JUMO partnered with Telenor and Telenor Microfinance bank to launch the first commercial product in Asia.
  • JUMO secured another funding round of US$55 million to support market and product expansion.
  • JUMO is powering a new wave of financial tools, enabling hundreds of millions of people to prosper, build their businesses and drive economic growth
  • JUMO was founded in London by Andrew Watkins-Ball, with a vision of reimagining finance in emerging markets. The founding team started working to prove that data can be used to predict the financial behaviour of millions of people without access to finance. Credit risk, engineering and other capabilities were developed with industry-leading talent. The first ecosystem partnerships were established with Tigo, Airtel and MTN to bring short-term loan products to people and small businesses in Kenya, Zambia and Uganda.
    • ghtazi
      ghtazi on 13 Feb 21
       
      JUMO is a British company founded by Andrew Watkins- Ball, and its vision is to reimagine finance in emerging markets. the goal of this company is to show that Data can be used to forecast millions of people's financial activity without access to finance.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is really great at introducing Jumo, its initial partnerships, the products/services offered by Jumo.
  • Timiza Akiba, a JUMO-powered savings product, grew 30% in 3 months despite COVID conditions.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt reports on the impressive performance of Timiza Akima, a Jumo product, despite covid-19 conditions, which reflects the company's resilience despite the pandemic.
  • A funding round of $52m USD was closed. The round was led by Goldman Sachs, with participation from Proparco, FinnFund, Vostok Emerging Finance, Gemcorp Capital, and LeapFrog Investments. A further $12.5m USD was secured from Odey Asset Management.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reports on how Jumo obtains financing for its operations from external sources i.e. Odey Asset Management.
  • Fast Company SA named JUMO one of the most innovative companies owing to advanced data science and Machine Learning capabilities.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      Jumo is powering new waves of financial tools that can help entrepreneurs to build and grow their business
  • chaimaa-rachid on 12 Feb 21
     
    Parentships always help a business to improve and grow. Jumo is expanding its service to satisfy everyone.
  • hindelquarrouti on 13 Feb 21
     
    At the beginning Jumo started by a founding team that was mainly working in order to prove that data are essentials and that they can predict the future financial behaviour of millions of people that originally didn't have access to finance. So, Jumo's main asset can be considered to be its data analysis that forecasts financial behaviours.
mehdibella

CGAP and FarmDrive Announce Partnership | CGAP - 0 views

www.cgap.org/...farmdrive-announce-partnership

Fintech Farmdrive kenya

shared by mehdibella on 12 Feb 21 - No Cached
  • CGAP and FarmDrive Announce Partnership for Satellite-Based Credit Assessments for Smallholder Farmers
  • Through CGAP’s financial contribution, FarmDrive will collaborate with The Impact Lab and Planet to use satellite images to better understand planting cycles, crop yields, and trends in production to help forecast future revenues, timing of income and potential gaps in payments.
    • mehdibella
      mehdibella on 13 Feb 21
       
      CGAP and FarmDrive Announce Partnership for Satellite-Based Credit Assessments for Smallholder Farmers
  • FarmDrive Co-founder commented, “We are delighted by CGAP’s support. We created FarmDrive to revitalize agricultural production and improve the livelihoods of smallholder farmers. The opportunity to incorporate world-class satellite technology and data analytics is a monumental step towards achieving these goals.”
mehdibella

EWB Canada announces new investment in Kenyan fintech startup FarmDrive - Ventureburn - 0 views

ventureburn.com/...wb-canada-investment-farmdrive

Fintech Farmdrive kenya

shared by mehdibella on 12 Feb 21 - No Cached
  • The startup aim to deliver productive digital loans and lay away savings products to smallholder farmers and EWB Canada said the investment will allow the startup to scale to $13 million of loan
  • EWB Canada’s acting director of investments Elena Haba said the startup has the potential to fill the credit gap between creditors and underserved small business owners like smallholder farmers.
  • FarmDrive’s Bosire said the startup intends to create shared value by increasing agriculture portfolios in Africa from its current four percent of total lending to 25% and onwards.Said Bosire: “We are going where banks haven’t reached and are creating a trust ecosystem in the most unstructured sector in sub Saharan Africa – Agriculture”.
    • mehdibella
      mehdibella on 13 Feb 21
       
      The startup aim to deliver productive digital loans and lay away savings products to smallholder farmers and EWB Canada said the investment will allow the startup to scale to $13 million of loan
  • ...1 more annotation...
  • Kenyan fintech FarmDrive has received a new investment from Engineers Without Borders Canada (EWB Canada). It follows a $50 000 investment the startup received from EWB Canada and others in 2016 and an undisclosed investment by Safaricom’s Spark Venture Fund in 2017.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      I believe that it is amazing having investors from around the world supporting FarmDrive. Promoting these kinds of fintechs will help in creating more specialized ones, and I believe that it is necessary.
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."
aminej

Ghana's Zeepay plans mobile-money expansion to South Africa, Rwanda - 0 views

www.theafricareport.com/...pansion-to-south-africa-rwanda

Ghana Money Fintech Mobile Service Transfer Lending

shared by aminej on 09 Feb 21 - No Cached
  • Takyi-Appiah says he saw opportunity in the fact that customers had to wait for days and queue up to obtain remittances sent to banks. Foreign expansion soon followed, and Zeepay now counts Côte d’Ivoire and Zimbabwe as its second- and third-largest markets.
  • Ghana’s Zeepay plans to raise $10m in equity funding to support the creation of new mobile-money hubs in East and Southern Africa, Andrew Takyi-Appiah, co-founder and managing director, tells The Africa Report. The new hubs, which will include processing centres and back offices, are likely to be in Rwanda and South Africa, says Takyi-Appiah from Accra. He adds that the use of Swahili in Rwanda makes it a good platform from which to reach out to other markets in the region.
    • aminej
      aminej on 12 Feb 21
       
      This new Fintechs are becoming more and more developed and present in different countries across Africa. It is good to see such companies being innovative and competitive in order to show what the African continent is really capable of
  • samielbaqqali on 09 Feb 21
     
    It is important that the company takes advantages of the customers' struggles to find a creative way to encourage them to benefit from the service.
kenzabenessalah

Cassava fintech - Crunchbase Company Profile & Funding - 0 views

www.crunchbase.com/...cassava-fintech

E-commerce Financial inclusion Africa

shared by kenzabenessalah on 12 Feb 21 - No Cached
  • Cassava is a specialised Pan-African Fintech company that delivers innovative digital transaction solutions across the mobile ecosystem. They endeavor to operate wherever money changes hands, with an ambition to drive financial inclusion, digital payments and lead the adoption of e-Commerce in Africa. Cassava is constantly looking for ways tointroduce solutions that bring developmental impact to a diverse range of African communities, thereby improving their quality of life. These solutions are delivered through our strategic partners such as mobile operators, whom we support in attaining their immediate and long-term strategic goals.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      It's inspiring how Cassava is doing the maximum to improve the quality of life in African communities. Introducing these financial services is already a big step.
  • kenzabenessalah on 12 Feb 21
     
    "Cassava is a specialised Pan-African Fintech company that delivers innovative digital transaction solutions across the mobile ecosystem. They endeavor to operate wherever money changes hands, with an ambition to drive financial inclusion, digital payments and lead the adoption of e-Commerce in Africa. Cassava is constantly looking for ways tointroduce solutions that bring developmental impact to a diverse range of African communities, thereby improving their quality of life. These solutions are delivered through our strat"
mohammed_ab

MTN Group furthers financial inclusion - MTN Group - 0 views

www.mtn.com/p-furthers-financial-inclusion

MTN Financial inclusion Fintech

shared by mohammed_ab on 12 Feb 21 - No Cached
  • Initially designed to facilitate the transfer of cash between mobile users, MTN’s MoMo offering is now much broader. The group works with numerous partners to offer services including loans, insurance, remittances and MoMo Pay, enabling customers to store money in their mobile wallets with which they can then pay for goods or services at registered merchants. Mobile money services have grown faster in Africa than anywhere else in the world. In 2020, the trend has quickened, and the value of transactions has increased, partly supported by MTN’s reduction in MoMo transaction fees in many operations to assist customers battling the impacts of the pandemic.
  • mohammed_ab on 12 Feb 21
     
    I like how MTN has developed its fintech service MoMo that was originally just for money transfer using mobile phones but has rapidly grown to other services like loans and remittance.
aminej

EasyEquities Community gives back to Cotlands during COVID-19 through #DonateForGood - ... - 0 views

www.cotlands.org/covid-19-through-donateforgood

Shares Financial Literacy Fintech Platform Service Trading COVID Crisis Donation

shared by aminej on 13 Feb 21 - No Cached
  • Cotlands is proud to be partnering with EasyEquities for a cause related marketing initiative with their investor community through #DonateForGood.  EasyEquities and the EasyCommunity want to play their part by supporting Cotlands beneficiaries that are adversely affected by the COVID-19 outbreak. EasyEquities have created a feature on their platform inviting investors to donate to our organisation. You can make a donation on the share purchase page on the EasyEquities platform. All you need to do is to make sure you have enough funds in your available cash. This donation feature is available in the EasyEquities ZAR and TFSA accounts. 
    • aminej
      aminej on 13 Feb 21
       
      Love the fact that even if it is a trading platform where the main goal is to make money; they even managed to help people during the COVID outbreak by donating food. It shows that the company do no only think about making money but also about the external environment and stakeholders
samielbaqqali

Ghana's banks may find themselves undercut by MTN's mobile money - 1 views

www.theafricareport.com/...-undercut-by-mtns-mobile-money

MTN Fintech Africa

shared by samielbaqqali on 12 Feb 21 - No Cached
  • According to the World Bank, Ghana is the fastest-growing mobile-money market in Africa. Mobile operators MTN, AirtelTigo and Vodafone currently lead the industry. Banks are pushing digital banking in Ghana, but with less success, according to a report from Tellimer in September. Banks such as Ecobank, Fidelity, Zenith and Standard Chartered can use Ghana’s improving digital infrastructure to widen inclusion, Tellimer says. But the firms points to downside for banks through possible loss of deposits and lower margins on digital products due to the competition. Mobile money may lead to the “cannibalisation” of some banking products, Tellimer says. “Banks will have to fight for transactions and deposits.”
  • MTN is the dominant player with about 90% of mobile money transactions.
  • It will take other players a “lot of marketing and effort or very innovative strategies” to compete with MTN,
  • ...2 more annotations...
  • Mobile operators MTN, AirtelTigo and Vodafone currently lead the industry.
  • A few years ago, Adovor says, he would have had to endure the traffic driving across Accra to pay cash. “Mobile money is facilitating business and that will increase as more and more people use digital platforms,” he says. Backed by a supportive regulatory environment, mobile money has become the preferred payment method for Ghana’s small businesses.
    • samielbaqqali
      samielbaqqali on 13 Feb 21
       
      The mobile payment industry is rapidly rising. In Ghana, MTN is one of the leaders in this market. Banks may seem old-fashioned, however, but they still have the financial resources to embrace the new technology and develop their digital services, so I would like to think that this is something that MTN needs to be cautious about.
  • hichamachir on 12 Feb 21
     
    The mobile payment industry is growing fast. MTN is one of the leaders in this market in Ghana. However, banks might seem old fashioned but they still have the financial capital to adopt the latest technologies and improve their digital services, so I would like to say that MTN needs to be careful of this point.
  • hindelquarrouti on 13 Feb 21
     
    MTN clearly gained customers' trust and become the most dominant player in the fastest growing mobile money market in Africa. This has definitely raised the barriers to entry for other competitors or traditional banking in the sector.
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