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MTN Uganda clarifies mobile money fraud rumours
MTN Uganda has been forced to call a press conference, with high-ranking executives from both MTN and Stanbic. Stanbic bank’s Managing Director, Patrick Mweheire, opened by explaining that the briefing was being held at Stanbic to show more significance to the fact that MTN does not create – or keep – any of the money from the MTN [...]
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More than half of global professionals use their mobile phones for payments
In a recent survey of over 300 global business professionals by Timetric, respondents were asked if they use mobile phones for payments and if it is set to change over the next six months. More than half of the respondents (52%) indicated they use their mobile phones for payments, with business professionals in Asia-Pacific (58%) [...]
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Money laundering rules for digital currency to be put in place by UK government
Setting out its approach to digital currency, the UK government has vowed to start applying anti-money laundering regulation to exchanges but also promising to put cash behind research into the potential of blockchain technology. Last August the government outlined plans to look into the risks and benefits of digital currencies and their underlying technologies. This was [...]
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Xiaomi offers interest bearing mobile wallet
Chinese smartphone maker Xiaomi is the latest tech company to cross over into financial services by offering an interest bearing mobile wallet. Xiaomi began public beta testing Tuesday of an online money-market fund that lets users earn interest on money saved in Xiaomi’s wallet app, a spokeswoman said. It marks another sign of Xiaomi’s ambitions [...]
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Facebook Messanger P2P payments
Facebook is bringing P2P payments to its Messenger application. The strategy will help Facebook keep users on its platform and add value while opening the door to promotion and loyalty capabilities for advertisers. Facebook stiffens competition in the P2P payments space which includes eBay’s Venmo, Snapchat, several banks and others. “Embedded P2P is clearly becoming a [...]
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