Mobile Money RSS

Central Bank of Kenya (CBK) data shows that mobile money transactions stood at Sh3.98 trillion ($38.5 billion) last year, having increased by Sh346 billion (10%) from 2017. This translates to... more

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There are an estimated 690 million people who use mobile money services across the world, over 100 million of whom live in Africa. Now, Orange and MTN Group have launched... more

The post Orange and MTN launch interoperable African mobile money service appeared first on Payments Cards & Mobile.

The GSMA has released its seventh annual ‘State of the Industry Report on Mobile Money’, offering a current snapshot of the mobile money landscape and highlighting the impact that greater financial inclusion has on lives, economies and innovation. The report provides the only comprehensive picture of mobile money around the globe. Today, with more than [...]

The post GSMA report highlights success of mobile money with over 690 million accounts appeared first on Payments Cards & Mobile.

Nigeria’s authorities are set to revoke the licences of at least 15 struggling mobile money operators under new minimum finance rules, according to press report. The report tips the majority of the 21 companies operating mobile money services in the country to fall foul of tough new cash requirements. Central Bank of Nigeria (CBN) rules, [...]

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Ant Financial, the digital payments arm of Alibaba, has been forced to abandon a merger with MoneyGram, having failed to satisfy the US government that the deal posed no risk to America’s national security. Ant announced a deal to buy MoneyGram for about $880m in cash almost a year ago, saying it would jump-start its [...]

The post Ant Financial forced to abandon MoneyGram purchase due to US regulatory pressure appeared first on Payments Cards & Mobile.