Digital Financial Services have the power to transform the lives of millions living in poverty. However, the lack of merchant acceptance presents a significant obstacle to its success, write Sacha Polverini of the ITU and Carol Benson of Glenbrook Partners.
From being called ‘worse than loan sharks,’ to more neutral reviews saying that it is almost impossible to get a loan from the site, fintech startup UangTeman is surviving, and indeed, seemingly thriving.
Telkomsel is pushing its TCash mobile wallet to not only tap a lucrative millennial market, but to also provide financial services to the unbanked.
When it comes to financial inclusion, all players – traditional FSIs, telcos, fintech companies and governments – should be working together, seamlessly, to foster a cashless society.
Both microfinance providers and mobile carriers are driving a surge in financial inclusion for the unbanked populace in developing nations, through the provision of sophisticated mobile finance services, according to new data from Juniper Research.
Asean has enormous opportunities for organisations able to deliver financial services readily and cheaply to ‘unbanked’ consumers, writes Krupal Raval of Digital Realty.
MasterCard and Singapore Management University (SMU) said they are partnering in a new two-year social and financial inclusion programme that catalyse research on social entrepreneurship, innovation and financial inclusion.
The ITU Focus Group on Digital Financial Services (DFS) for Financial Inclusion will be meeting in Kuala Lumpur at the end of the month to continue discussions on what the International Telecommunications Union (ITU) has described as one of the world’s most challenging social and economic issues: Access to formal financial services by the world’s poorest two billion people.
Mobile payment growth in Asia Pacific is outpacing the rest of the world, and will make up half of the global market by 2017, according to International Data Corporation (IDC).
Fintech startup PawnHero from the Philippines was crowned the winner at Echelon Asia Summit 2015, bucking the trend of Thai startups claiming the top prize over the last two years.