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Open financial services – An open invitation to financial inclusion
‘Open’ is a short word with a long list of meanings. These range from being free to all to join, ready for business or prepared to entertain new ideas. The impact of ‘open’ within financial services today is almost as big as the list of meanings is long. Accessible, available, inclusive In the context of [...]
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Mobile wallet readiness: Building a better value proposition – Pt 3
Mobile wallet launches by issuers, “The Pays” (Apple Pay, Android Pay, Samsung Pay), telcos and retailers have become increasingly commonplace – if not fashionable – in recent years. But most have limited their market opportunity by failing to evolve beyond being credit card substitutes. Wallet providers are in a position to deliver a measurably superior [...]
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Mobile commerce readiness: The mobile wallet security conundrum – Pt 2
The ongoing power struggle between security and usability represents one of most pertinent challenges in mobile wallet today. While it is possible to build a nearly fraud-proof payment mechanism, it most certainly would not be usable. And although a completely frictionless payment experience could be a reality, it would undoubtedly be riddled with security gaps. [...]
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Chinese regulator mandates mobile payments clearing house
China’s central bank and regulator has mandated online and mobile payment groups to operate through a centralised clearing house, a move likely to undercut the dominance of Ant Financial and Tencent by forcing them to share valuable transaction data with competitors. China is the world leader in mobile payments, with transaction volumes rising nearly five-fold [...]
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Indian digital transaction volumes hits 860 million per month
Digital transaction volumes in India hit a new record in July growing almost 2% from the previous month to 859.2 million, according to data released by the Reserve Bank of India. While digital payments in the country have witnessed a meteoric growth trajectory over the last few months, wallet transactions and card payment increases have [...]
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