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New UK cheque clearing system to be rolled out
The UK is set to roll-out an image-based cheque clearing system from 30 October 2017. The Cheque and Credit Clearing Company have announced that waiting for five to six working days to get money through your accounts will be cut down to just one day. Initially, only a few banks and building societies will be able [...]
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Global flows in a digital age: How trade, finance and data connect the world economy
Global flows have been a common thread in economic growth for centuries, since the days of the Silk Road, through the mercantilist and colonial periods and the Industrial Revolution. But today, the movement of goods, services, finance, and people has reached previously unimagined levels. Global flows are creating new degrees of connectedness among economies – and [...]
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M-Pesa continues dominant position in Kenyan mobile money market
Despite increased competition, M-Pesa is maintaining a large lead the Kenyan market, according to official statistics.Over KES1 trillion ($10 billion) of mobile money deposits and withdrawals took place in Kenya between July and September 2016. The Kenyan government’s latest quarterly update on the communications sector showed there were 31 million subscriptions across the country’s competing [...]
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Google adds P2P payments to Gmail Android app
Google is to revisit history going back back to P2P payments, adding the feature to its Gmail Android app that allows sending friends funds by attaching a file to an email. Google first began letting US users send and receive money through Gmail on desktop back in 2013 but is only now bringing the feature to the Android [...]
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Mobile money for the unbanked – Avoiding common industry pitfalls
A new Roland Berger study, entitled Mobile Money for the unbanked – Avoiding common industry pitfalls, highlights the challenges of creating a Mobile Money operating arm, cautions operators that success isn’t guaranteed despite potentially high demand, and provided actionable recommendations. As part of the research more than 20 operators across Africa and Asia were analyzed. [...]
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