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M-Pesa FAQs - 0 views

www.vodafone.com/...m-pesa-faqs M-pesa inclusion Fintech
shared by hindelquarrouti on 12 Feb 21 - No Cached
  • M-Pesa offers a safe, fast and low-cost way to pay, receive, transfer and store money. M-Pesa, works in real time and digitally, making it faster and cheaper than traditional informal money transfer services (e.g. sending money on a bus) and safer since every transaction is protected and signed with a PIN.
  • M-Pesa is specifically designed to benefit customers who have no access to banks - either because they do not have a bank account or because they live too far away from a bank branch. Each transaction is made with a mobile handset, enabling our customers to send money from any location.
  • chaimaa-rachid on 12 Feb 21
     
    The client doesn't need to have a bank account or any extravagant cell phone. The individual only has to enroll for an M-Pesa account with Safaricom. M-Pesa offers a fast business and clients are truly satisfied with it.
  • hindelquarrouti on 13 Feb 21
     
    It is interesting to see that M-pesa promoted financial inclusion without making its customers be necessarily bounded to it. This might be the element that led unbanked people embrace it even more. It doesn't require a bank account, yet it gives you the benefit of financial services.
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Safaricom M-Pesa and PayPal deal to boost Kenya e-commerce - Quartz Africa - 0 views

qz.com/...deal-to-boost-kenya-e-commerce M-pesa PayPal Collaboration Fintech
shared by hindelquarrouti on 12 Feb 21 - No Cached
  • Safaricom is partnering with PayPal to boost its e-commerce capabilities in Kenya, solidifying its footing not just as a mobile phone business but as a global company with diversified interests in sectors including healthcare, transportation, and music.
  • The company is collaborating on a new service to enable Kenyan customers seamlessly transfer money between PayPal and Safaricom’s M-Pesa mobile wallets.
  • chaimaa-rachid on 12 Feb 21
     
    The partnership between M-Pesa and Paypal will significantly affect the development of M-Pesa in the future.
  • hindelquarrouti on 13 Feb 21
     
    It is interesting that in order to boost the electronic commerce in kenya , M-pesa engaged in a collaboration with PayPal. This step made M-pesa become a global company rather than a usual mobile phone business.
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FarmDrive - 0 views

farmdrive.co.ke/about-us FarmDrive Kenya Specialized Farming
shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • They did not have the capital to purchase the critical farming inputs that could increase their yields and revenues.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      FarmDrive fulfills the farmers' need to access funding in order to have a sustainable and growing agricultural activity.
  • kenza_abdelhaq on 13 Feb 21
     
    "They did not have the capital to purchase the critical farming inputs that could increase their yields and revenues."
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Kenyan Mobile Money Competitors Take on Safaricom | TechCabal - 0 views

techcabal.com/...obile-money-dominance-in-kenya Mpesa Services Loans Fintech
shared by hindelquarrouti on 13 Feb 21 - No Cached
  • In Kenya, mobile money is almost synonymous with Safaricom’s M-Pesa.
  • When Kenya’s leading telco Safaricom introduced M-Pesa in 2007, it started out as a simple transfer service that allowed users to send and receive money with their mobile phones. Safaricom has since rolled out other M-Pesa services like loans and payments.
  • hindelquarrouti on 13 Feb 21
     
    I am impressed by how M-pesa, that started in 2007 as a simple transfer service, now become synonym with "mobile money" in Kenya. This company has also recently introduced a new product called Fuliza in 2019. This later allows user to pay even when they don't have money in their M-pesa account.
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Good practice - M-PESA International Money Transfer Service, Safaricom - 0 views

www.ilo.org/...lang%3Den%26p_practice_id%3D70 M-peas International money transfer
shared by hindelquarrouti on 12 Feb 21 - No Cached
  • M-PESA's International Money Transfer (IMT) service allows anyone wishing to send money to Kenya to visit one of several Safaricom IMT partners (such as Post Finance, World Remit, and Western Union) and send money to an M-PESA mobile phone in Kenya. Money transfers are received almost instantly, and at no expense to the recipient.
  • M-PESA is the result of a partnership between Vodafone and Safaricom, a Kenyan mobile network operator. M-PESA's International Money Transfer (IMT) service allows anyone wishing to send money to Kenya to visit one of several Safaricom IMT partners (such as Post Finance, World Remit, and Western Union) and send money to an M-PESA mobile phone in Kenya.
  • chaimaa-rachid on 12 Feb 21
     
    M-Pesa is designed for everyone but it is explicitly intended for customers who do not have access to banks or because they don't have a bank account or in light of the fact that they live excessively far away from a bank office.
  • hindelquarrouti on 13 Feb 21
     
    M-pesa, that promoted financial inclusion in Kenya, was originally created from a partnership between Vodafone and Safaricom. It has enabled Kenyans to send money and make online payments. Also, it has made sure that the transfers were made instantly and no expenses were made for the receiving party.
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Two African startups where inclusive fintech comes with a human touch | Accion - 0 views

www.accion.org/ntech-comes-with-a-human-touch Lumkani South Africa Insurtech Implementation
shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • In South Africa, mobile money systems are much less available than they are in Kenya, so they are not a good option for Lumkani clients to use to manage policy payments and payouts. Additionally, people in the informal settlements where Lumkani provides its services tend to be limited in both financial literacy and experience with technology, so they need information on what the insurance product is and how it works. So Lumkani relies on agents — many of whom live in the same settlements — to do face-to-face sales pitches and enrollments. The agents, however, carry smartphones with an app for setting up the new accounts. Agents also collect cash payments in person but send SMS reminders to keep clients up to date.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Lumkani adapts to local communities that are generally with limited literacy and experience with technology by relying on agents to do face-to-face pitches and assist in the installation and activation of the device.
  • kenza_abdelhaq on 13 Feb 21
     
    "In South Africa, mobile money systems are much less available than they are in Kenya, so they are not a good option for Lumkani clients to use to manage policy payments and payouts. Additionally, people in the informal settlements where Lumkani provides its services tend to be limited in both financial literacy and experience with technology, so they need information on what the insurance product is and how it works. So Lumkani relies on agents - many of whom live in the same settlements - to do face-to-face sales pitches and enrollments. The agents, however, carry smartphones with an app for setting up the new accounts. Agents also collect cash payments in person but send SMS reminders to keep clients up to date."
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Kenya Case Study Part I: M-PESA story - 0 views

www.finextra.com/...case-study-part-i-m-pesa-story M-pesa fintech success
shared by hindelquarrouti on 12 Feb 21 - No Cached
  • M-PESA was cheaper than banks, and safer and more convenient than handling cash. The financial inclusion driven by M-PESA has greatly led to the growth of Kenya’s digital economy.
  • M-PESA”: that is a name in global fintech history that can never be erased. Not that anybody would want to. Forever it will be the perfect example of a viable financial ecosystem based on rules unthinkable before
  • chaimaa-rachid on 12 Feb 21
     
    M-Pesa reformed the Kenyan economy and assumed a significant role in the evolution of the financial industry in Kenya.
  • hindelquarrouti on 13 Feb 21
     
    M-pesa is the perfect example of a company that was based on rules that were unthinkable before. It has established itself in the market by being cheaper than ordinary banks and by being better than handling actual cash.
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Even in a world of global super platforms, local innovation still matters | Accion - 0 views

www.accion.org/local-innovation-still-matters Lumkani South Africa Insurtech
shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • Lumkani provides residents in South Africa’s informal settlements with fire insurance and an internet-connected heat sensor that notifies all users if a fire is detected nearby. Eighteen months after launching, Lumkani demonstrated that, in 73 percent of cases, its technology helped prevent fires from spreading beyond the first home.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Lumkani's technology was proved to be efficient since in more than 70% of the cases the technology helped prevent the spread of fires.
  • kenza_abdelhaq on 13 Feb 21
     
    "Lumkani provides residents in South Africa's informal settlements with fire insurance and an internet-connected heat sensor that notifies all users if a fire is detected nearby. Eighteen months after launching, Lumkani demonstrated that, in 73 percent of cases, its technology helped prevent fires from spreading beyond the first home."
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FarmDrive | WSA - 1 views

wsa-global.org/farmdrive FarmDrive Agritech Kenya E-payments
shared by hibaerrai on 13 Feb 21 - No Cached
  • FarmDrive is a Kenyan ¬based social enterprise that is unlocking access to financial services for over 50 million smallholder farmers in Africa. Using simple mobile phone technology, alternative data sets, and sophisticated data analytics, FarmDrive is closing the critical information gap that keeps smallholder farmers from getting loans that would allow them to grow and diversify their businesses. Potentially creditworthy smallholder farmers are often denied loans because they lack the traditional credit profiles that lenders rely on to evaluate borrowers.FarmDrive bridges the funding gap between smallholder farmers and financial institutions in two ways. The first step is to bring together multiple streams of data to create yield-predictive agronomic algorithms specific to each farming vertical and geographical region. T hese streams of data can be classified into three categories: 1. Agronomic Data: crop portfolio, soil health, drainage, weeds, pests, etc. 2. Remote Sensing Data: vegetation, weather conditions, climate trends, etc. 3. Market Data: offtake security, price trends, etc. FarmDrive then creates credit profiles for farmers by combining the agronomic algorithm with behavioral data. The behavioral data is obtained from farmers through a simple SMS/Android mobile phone application. With this application, Farmers can track their revenues and expenses, and also send demographic information to FarmDrive.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      FarmDrive specializes in smallholder farmers businesses; it is not common in Africa. This Fintech helps farmers extract needed loans that will help them grow and expand. This initiative closes thus the gap between agricultors and financial services, and increases financial inclusion.
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Short-Term Broker News & Information | Hollard - 0 views

www.hollard.co.za/...idents-bounce-back-after-blaze Lumkani South Africa Insurtech Target
shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • “It makes me proud to work in insurance – and for Hollard Insure in particular – when we are able to be there for customers when they need us the most. In the past, residents of informal settlements had no chance of an insurance safety net. “But in partnering with Lumkani, we are part of a solution that combines technology with insurance-cover that does, indeed, offer people the opportunity of a better future,” says Smith.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Lumkani fulfilled a need and important gap in the market by giving to this low-income group a second chance to rebuild their lives.
  • kenza_abdelhaq on 13 Feb 21
     
    ""It makes me proud to work in insurance - and for Hollard Insure in particular - when we are able to be there for customers when they need us the most. In the past, residents of informal settlements had no chance of an insurance safety net. "But in partnering with Lumkani, we are part of a solution that combines technology with insurance-cover that does, indeed, offer people the opportunity of a better future," says Smith."
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Proceedings_ICT-2017.pdf - 0 views

d1wqtxts1xzle7.cloudfront.net/...Proceedings_ICT-2017.pdf fawry fintech bills advantages
shared by hindelquarrouti on 13 Feb 21 - No Cached
  • hindelquarrouti on 13 Feb 21
     
    Besides the infinite benefits of online payment services, Fawry encourages people in using it even more by providing them with discounts and a year free cash services from NBE. Thus, promoting financial inclusion.
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Capiter eyes expanding investment in Egypt | ZAWYA MENA Edition - 0 views

www.zawya.com/...estment_in_Egypt-SNG_187451440 Capiter Mobile App Expansion Egypt
shared by nourserghini on 13 Feb 21 - No Cached
  • The startup intends to expand its geographical presence nationwide, besides its network of small enterprises, Nouh elaborated.Founded last year, Capiter is a mobile app connecting grocery stores and retail markets to leading food suppliers in the country, the CEO added.The company also plans to start its expansion with Alexandria and the Nile Delta area over the coming period, Nouh said.
    • nourserghini
      nourserghini on 13 Feb 21
       
      This shows that Capiter is still determined to expand its customer targets and services in Egypt after its first successful year starting first by Alexandria and Nile Delta, which seems very promising.
2More

Home - Fawry Plus - 0 views

fawryplus.com/en Financial services Diverse banking Retail branches
shared by kenzabenessalah on 13 Feb 21 - No Cached
  • Fawry Plus is the first banking agent authorized by the Central Bank of Egypt (CBE), providing diverse banking and financial services, in addition to other unique services, to individuals and businesses through a network or retail branches. Fawry Plus aims to cover all Egypt, especially the areas that have an insufficient number of financial institutions compared to the population density. With Fawry Plus, financial services will become easier and more convenient.
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Fawry targets people who live in areas with insufficient number of financial institutions which is a smart and useful initiative.
2More

Lumkani - 1 views

lumkani.com Lumkani South Africa Insurtech Target
shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • properties we protect: Informal homes Small homes and low-cost homes (RDPs) Small businesses
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Lumakni's customer target to achieve financial inclusion.
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The launch of MasterCard Bill Pay services in cooperation with Fawry | Al Bawaba - 0 views

www.albawaba.com/vices-cooperation-fawry-384022 MasterCard Fawry Payments
shared by hindelquarrouti on 12 Feb 21 - No Cached
  • For the first time in Egypt, MasterCard Worldwide has teamed up with Fawry, the nationwide Electronic Bill Payment and Presentment (EBPP) network, to launch MasterCard Bill Pay services to enable MasterCard cardholders to use their cards for bill payments and mobile top-up via Fawry’s retail network. MasterCard cardholders can now settle their Internet, mobile and fixed line bills and also utilize the top-up payment services through Fawry-MasterCard enabled retail locations across Egypt.
  • For the first time in Egypt, MasterCard Worldwide has teamed up with Fawry, the nationwide Electronic Bill Payment and Presentment (EBPP) network, to launch MasterCard Bill Pay services to enable MasterCard cardholders to use their cards for bill payments and mobile top-up via Fawry’s retail network. MasterCard cardholders can now settle their Internet, mobile and fixed line bills and also utilize the top-up payment services through Fawry-MasterCard enabled retail locations across Egypt.
  • For the first time in Egypt, MasterCard Worldwide has teamed up with Fawry, the nationwide Electronic Bill Payment and Presentment (EBPP) network, to launch MasterCard Bill Pay services to enable MasterCard cardholders to use their cards for bill payments and mobile top-up via Fawry’s retail network. MasterCard cardholders can now settle their Internet, mobile and fixed line bills and also utilize the top-up payment services through Fawry-MasterCard enabled retail locations across Egypt.
  • ...2 more annotations...
  • This is the first time the service has been introduced in Egypt and MasterCard cardholders will be the first to enjoy this fast, easy, secure and convenient bill payment channel. MasterCard and Fawry opted to launch this service in Egypt as a key market in the Middle East and Africa regions.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      MasterCard is committed to offering creative transaction solutions for the Egyptian industry, which is continuously evolving electronic installments. MasterCard replied to the needs of Egyptian consumers, who are continually progressing and need to make their regular payments with more adaptable and safe payment options.
  • Recognizing the need to continue providing our customers with innovative payment options, we worked closely with MasterCard to offer cardholders a new and convenient method for bill payments,” said Ashraf Sabry, CEO, Fawry
  • chaimaa-rachid on 12 Feb 21
     
    MasterCard is devoted to delivering innovative transaction solutions for the Egyptian market where electronic installments are continually developing. MasterCard tended to the necessities of Egyptian customers, who are consistently progressing and require more adaptable and secure payment choices to make their everyday installments.
  • hindelquarrouti on 13 Feb 21
     
    It is remarkable how a company like Fawry, that started in a market with a considerable number of unbanked people, and sceptical people regarding online financial payments, made it to a partnership with MasterCard.
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Lumkani's fire detectors might help save thousands of homes in South Africa's townships - 1 views

www.pri.org/...e-thousands-homes-south-africa Lumkani South Africa Insurtech Financial Inclusion
shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • Right now, Lumkani is funded by charitable donations, with consumers paying a small, affordable fee — about $1.30 per box. But the company is looking for a more sustainable business model, and hopes to expand beyond South Africa's big cities throughout the nation and sub-Saharan Africa.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Affordable devices for low income families in order to promote financial inclusion and expand to the rest of Africa.
  • kenza_abdelhaq on 13 Feb 21
     
    "Right now, Lumkani is funded by charitable donations, with consumers paying a small, affordable fee - about $1.30 per box. But the company is looking for a more sustainable business model, and hopes to expand beyond South Africa's big cities throughout the nation and sub-Saharan Africa."
5More

Swvl's co-founder and former COO is building a fintech to offer commercial credit solut... - 0 views

www.menabytes.com/mahmoud-nouh-capiter Capiter ML model Egypt
shared by nourserghini on 12 Feb 21 - No Cached
  • Capiter, according to its website, offers on-demand cash flow solutions to small businesses and vendors, paying vendors immediately for the goods they sell to small business buyers and then collecting payments from the buyers using flexible payment plans. There are not a lot of details on the website but it would be safe to assume that Capiter makes money by charging a fee, interest, or a combination of both from the small businesses using its solutions.
    • aminej
      aminej on 12 Feb 21
       
      I like this service provided by Capiter because it helps young entrepreneurs and SMEs to maximize their profit. Transactions between supplier and customer happen in a smooth way so that each one is happy. They still have some concerns when it comes to raising money but I'm sure they gonna make it because it is an innovative service that would help a lot of people
    • nourserghini
      nourserghini on 13 Feb 21
       
      This article precisely describes how Capiter pays vendors immediately for the sold merchandise and collects small business' payments all while allowing a flexible payment and charging an extra fee or interest.
  • “Capiter’s unique technologies and sophisticated ML models empower businesses to increase their sales, grow their customer base and improve their cash flow,” the startup notes on its LinkedIn page.
    • nourserghini
      nourserghini on 13 Feb 21
       
      According to the startup notes, Capiter has a unique and sophisticated machine learning models that help it perform efficiently and increase their cash flows. It would be very interesting to discover the uniqueness of their model.
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How to develop digital payments or is it how to reduce cash use - 1 views

www.stratexis.com/...ts-or-maybe-to-reduce-cash-use fawry online payments success
shared by hindelquarrouti on 11 Feb 21 - No Cached
  • Fawry is educating unbanked population to trust electronic payments. Fawry would not have existed in a mature economy, where electronic payments are dominant. In that sense, Fawry is filling a gap left by banking players in Egypt.
  • One of the most striking differences between banking in Europe and in Egypt is cash management. Withdrawals and deposits of cash are the dominant operations in the Egyptian banking branches. It is frequent to meet customers with big bags of money in or out of banking branches. In Europe, anti-money laundering laws and electronic payments popularity made large cash operations extremely rare.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Although not everyone trusts online payment in Egypt, Fawry persuaded them by offering numerous services with simple usage and protection. Almost all Egyptians currently use fake services, especially in the telecommunications sector.
  • The success of Fawry comes from leveraging the best of the 2 means of payment: cash for its reliability and availability, and electronic systems for their seamless and fast processing.
  • ...1 more annotation...
  • What is very promising is that the success of Fawry inspired a lot of other players to create fintech companies and contributed to the transformation of Egyptian financial services, which will bring higher value to Egyptian customers.
  • chaimaa-rachid on 11 Feb 21
     
    Even though in Egypt not everyone trusts online payment, Fawry convinced them by offering different services with easy use and security. Currently, almost all Egyptians use Fawry services, especially in the telecommunications sector.
  • hindelquarrouti on 13 Feb 21
     
    It is interesting that Fawry's success can be tracked back to its use of two means. Cash payment and electronic systems. It has tried since its beginnings to make unbanked people trust electronic payments. It is also inspiring other companies in the field.
5More

GSMA | Lessons from Lumkani: Building resilience to fire in South Africa's informal set... - 1 views

www.gsma.com/...h-africas-informal-settlements Lumkani South Africa Insurtech Partnership
shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • Thanks to partnerships with NGO Islamic Relief South Africa, and insurance firm Hollard, residents are able to opt-in to a micro-insurance scheme which will insure their homes against damage or loss to fire. Early findings have shown this to be a critical lifeline to those impacted by fire outbreaks.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Lumkani partners working with the company to provide help and assistance to low-income families.
  • Building on the insights gained from the GSMA project, Lumkani plan to develop a suite of low-cost sensor technologies that would decrease the risk of fire as well as other risks such as flood or theft, and in turn create access to financial services which serve as a critical safety net. In addition, they will continue to work with the GSMA to pursue opportunities to roll out in numerous humanitarian contexts such as in Kenya, Iraq and Bangladesh.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Lumkani's future expansion plans include covering other incidents and risks likes flood and theft as well as rolling out in new areas and countries.
  • kenza_abdelhaq on 13 Feb 21
     
    "Thanks to partnerships with NGO Islamic Relief South Africa, and insurance firm Hollard, residents are able to opt-in to a micro-insurance scheme which will insure their homes against damage or loss to fire. Early findings have shown this to be a critical lifeline to those impacted by fire outbreaks."
11More

Deezer to provide collection services via Fawry Pay - Daily News Egypt - 1 views

dailynewsegypt.com/...lection-services-via-fawry-pay fawry Deezer partnership
shared by hindelquarrouti on 11 Feb 21 - No Cached
  • Deezer platform, which specialises in music broadcasting, has agreed with the electronic payment company Fawry to have the Fawry Pay platform provide payment and subscription services for its various music package
  • Deezer aims to attract music streaming market. Fawry already provides electronic payment services for other entertainment services, such as movie tickets, theatres, and football matches, as well as facilitating ways to pay subscriptions to watch dramas and more
  • Mohamed Okasha, managing director of Fawry, said that the partnership with Deezer aims to attract music streaming market. Fawry already provides electronic payment services for other entertainment services, such as movie tickets, theatres, and football matches, as well as facilitating ways to pay subscriptions to watch dramas and more
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Fawry has collaborated with Deezer to make it easier for clients to pay than before.
  • ...5 more annotations...
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • with the increasing demand for Deezer, it has become important to offer fast and easy facilitation of subscription payments. Customers may now pay using their smart device or through its 125,000 participating
  • chaimaa-rachid on 11 Feb 21
     
    I think it's a good idea that Fawry has partnered with Deezer in order to make payment easier for customers than before.
  • hindelquarrouti on 13 Feb 21
     
    Fawry made a smart partnership with Deezer because it has seen that this later has experienced an increasing demand. Fawry now targets users of music streaming markets as it provides them with electronic payment services.
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