Regulation

American Bankers Association: CBDC would be advantaged competitor

Ledger Insights

“Today U.S. Congress will hold a hearing on the Digital Dollar Dilemma to discuss the implications of a central bank digital currency (CBDC) and potential private sector alternatives. The Federal Reserve believes that a CBDC will help maintain the dollar’s unique role as the international reserve currency, and improve financial inclusion for millions of U.S. citizens. However, […]

Global

World Bank Praises India's Digital Infrastructure for its Transformative Potential

Business Insider

“Advocating DPI’s potential in helping nations leapfrog digital transformation, a G20 document prepared by World Bank has praised India’s approach in unlocking the power of digital public infrastructure, including Aadhaar and UPI, for financial inclusion.”

Tags: India

Companies Global

Kenya’s Lipa Later Partners Mastercard to Drive BNPL Solutions in Africa

Disrupt Africa

“Kenyan startup Lipa Later has partnered Mastercard to drive financial inclusion and expand Buy Now, Pay Later (BNPL) solutions in Africa, starting with Kenya and expanding to Rwanda, Uganda, and Nigeria.”

Tags: Kenya Mastercard

Companies

Connecting the Dots: How Adoption of Instant Payments Can Lead to a More Inclusive Economy

Atlanta Fed

“We examine how instant payments are an essential component of increasing financial inclusion. We explore how the Federal Reserve System, together with the private and public sector, is encouraging widespread adoption of instant payments because of their potential to help improve financial inclusion across a broad range of demographics and circumstances.”

Tags: Federal Reserve

Global

India’s Push to Democratise Credit Tests Limits

Reuters

“India is shaping its digital payments system into a credit engine. It wants banks to offer small loans through the channel residents use to transfer money via their mobile phones. But while the latest official effort to accelerate financial inclusion is gaining traction and will finally allow banks to monetise the homegrown system, it will […]

Tags: India

Companies Global

New Mastercard Study Reveals Financial Inclusion Momentum in Latin America, Highlights Remaining Gaps to Close

Business Wire

“Mastercard released a new report today, The State of Financial Inclusion post COVID-19 in Latin America and the Caribbean: New Opportunities for the Payments Ecosystem, demonstrating the mainstream adoption of digital financial products and services across seven Latin American countries (Argentina, Brazil, Colombia, El Salvador, Guatemala, Mexico, Peru) and the challenges that remain among those […]

Tags: Latin America

Industry

ABA: Stablecoin Issuers Need to be Regulated Like Banks

ABA Banking Journal

Stablecoin issuance is a monetary exercise comparable to what regulated banks do and should be supervised accordingly to ensure financial stability and consumer protection, the American Bankers Association said today in a statement to the House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion. The subcommittee will meet this morning to debate two bills on […]

Global

Interview with Regional President CEMEA Visa, Andrew Torre

Brecorder

“Andrew Torre is Regional President for Central and Eastern Europe, the Middle East and Africa (CEMEA) at Visa Inc. He oversees Visa operations in more than 90 countries and territories across the region, cultivating relationships with clients and government authorities. He has been with Visa since 2002, where he held global roles across product, strategy […]

Tags: Pakistan

Global Risk

Bill Gates Visits MOSIP, Gets the T-shirt, Discusses Financial Inclusion Via the Platform

Biometric Update

“Bill Gates has visited MOSIP (Modular Open Source Identity Platform) in its hometown Bangalore for presentations on the project’s progress and plans, MOSIP has shared in a LinkedIn post. The Bill and Melinda Gates Foundation has been a backer of the free-to-use ID platform that avoids vendor lock-in.”

Tags: India

Global

UK Fintech Tintra Selects Temenos to Power AI-Led Inclusive Banking for Emerging Markets

Temenos

“Tintra PLC, a London-headquartered Deep Tech and Banking company, has selected Temenos to power its innovative new bank designed solely for emerging market clients. Tintra will be using Temenos core banking platform and market-leading payments as well as its Financial Crime Mitigation solution. Tintra’s mission is to create true fiscal inclusion in trade and finance […]

Global

Mastercard And Obopay Collaborate To Launch A Unique Prepaid Card To Power Financial Inclusion In Rural Communities

Business News Week

“Mastercard and Obopay today announced their collaboration to launch a financial inclusion card for smallholder farmers and rural communities. Powered by Mastercard’s Community Pass digital infrastructure, the prepaid card will allow farmers to receive the sale proceeds for their crop digitally, spend their earnings to make purchases even in remote locations that have poor or […]

Companies

New LexisNexis Risk Solutions Report Reveals Financial Inclusion is Accelerating the Adoption of Alternative Data Across Financial Institutions

LexisNexis Risk Solutions

LexisNexis® Risk Solutions unveiled the findings of its Alternative Credit Data Impact Report, a nationwide survey assessing the adoption, utilization and impact of alternative credit data for credit portfolio growth and management in consumer and small/mid-sized business (SMB) lending. The report surveyed those who identify as senior decision makers for marketing, lending and credit risk […]

Companies

Mastercard Partners with Copal to Launch Egypt’s First Family Payments Mobile Application

Middle East/Africa Hub

Copal, Egypt’s first digital payment solutions application specifically designed for families, enters a strategic partnership with Mastercard to introduce the first family payment and expenses management application in Egypt. This seamless solution aims to further drive financial inclusion in the country through the integration of underbanked youth into the formal economy.

Companies

Mastercard and ZoodPay Join Forces to Launch the First Virtual Installment Card Across EEMEA

ZoodPay

ZoodPay, a leading digital lending platform for e-commerce in the Middle East and Central Asia, has entered into a strategic partnership with Mastercard to launch the first-of-its-kind prepaid virtual installment card in the Eastern Europe, Middle East, and Africa (EEMEA) region. This collaboration will expand financial and digital inclusion, benefiting the underbanked population and those […]

Tags: Mastercard ZoodPay

Global

Dubai-Based NOW Money Selects ThetaRay AI Tech to Prevent Financial Crime on the Inclusive Banking App

Reuters

“NOW Money, the GCC’s first mobile banking solution focused on financial inclusion, and ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced a collaboration to implement ThetaRay’s cloud-based AML solution to monitor cross-border payments and support in the prevention of financial crimes and money laundering on the fintech’s payments platform. NOW Money selected […]

Tags: India