A new report projects that establishing financial identities for the world’s financially excluded – or “unbanked” – population would add an extra $250 billion to global gross domestic product (GDP),... more
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When it comes to empowering unbanked citizens, access to affordable and tailored forms of banking remains a priority, globally. For many years, higher levels of banking have equated to an... more
The post LAC: Pinpointing the potential for unbanked with prepaid card traction in Mexico appeared first on Payments Cards & Mobile.
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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Around 2 billion people worldwide do not use formal financial services and around half the adults in the poorest households are unbanked, according to the World Bank. When financial inclusion is a key enabler to reducing poverty and boosting prosperity, we investigate what the payments industry is doing around financial inclusion. At its most basic, financial [...]
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Alternative payments are gaining traction in South Africa, with banks and payment companies introducing new solutions. Recent initiatives include the launch of MasterPass, Zapper, FlickPay and SnapScan. The MasterPass digital wallet was introduced in association with Standard Bank in July 2014. Users can shop online without disclosing payment and shipping information with every purchase. Zapper, [...]
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