Posts Tagged ‘mobile money’

Battle between Africa’s mobile phone companies and banks is a boon for financial inclusion

A battle for supremacy New mobile products coming into the market promise to deepen financial inclusion even further. Equity Bank are introducing Equitel, its telecoms unit, that will allow customers to access credit loans, perform cross border money transfers and send and receive money from other commercial banks, reports Reuters. Equity is one of the […]

Africa Leads in Mobile Money Transfer Services

Africa is the leading market for mobile money transfer services, according to new data from Juniper Research. The new research, “Mobile Money Transfer & Remittance: Domestic & International Markets 2015–2020,” pointed to Africa as the leading market. Several African mobile operators such as Vodacom Tanzania and MTN Uganda are now generating more than 10 percent […]

Safaricom and MTN in networks deal to boost remittances

Customers of two of East Africa’s leading mobile money operators will be able to transfer money to each other across both networks, following a deal agreed between the MTN Group and Vodafone Group. Under the terms of the deal, the operators said they will also share best practice and “work together to define the rules […]

Mobile money hits Sh2.37 trillion as card use drops

Mobile payments values increased by nearly a quarter last year, clawing a huge chunk from the banking sector where payment cards performed dismally over the period. Latest payment systems data from the Central Bank show mobile money subscribers transacted Sh2.37 trillion in 2014, a 24.7 per cent increase over Sh1.90 trillion in the previous year. […]