Mobile money service users worldwide are set to break the 1 billion mark by the end of 2016, equating to 20% of unique mobile users. According to a new forecast from Strategy Analytics’ Mobile Payment Service, mobile money transactions will more than double from US$200 billion in value in 2016 to US$571 billion by the…
HomeSend has expanded its global framework agreement with Vodafone Group for M-Pesa, including the launch of remittance services into five new markets during 2016. The two companies will work together to enable the real-time, mobile receipt of remittances by M-Pesa users in the Democratic Republic of Congo, Ghana, Lesotho, Mozambique and Albania. In addition to…
TransferTo has partnered under a framework agreement with Vodafone Group to enable real-time international money transfers to M-Pesa Mobile Money accounts worldwide. Powered by TransferTo’s cross-border Mobile Money network, the global partnership will make it faster and easier for consumers and organizations to send money to multiple M-Pesa accounts, in real time. TransferTo’s Mobile Money…
Vodafone Romania has teamed with the digital money transfer service WorldRemit. Through Vodafone M-Pesa, WorldRemit customers can now send instant money transfers to any Vodafone customer in Romania.
India’s HDFC Bank, has intoduced its one-click payment platform called PayZapp, as part of its ‘GoDigital’ strategy.
Mobile payments, the use of phones to complete transactions in stores instead of cash and physical card swipes, are going to grow much more quickly than many observers believe. In no small part, this will be thanks to the growing popularity of Apple’s new Apple Pay system.
Vodafone Group and MTN Group have inked a deal to interconnect their mobile money services. This will enable customers of M-Pesa and MTN Mobile Money in East Africa to transfer money to each other.
The number of mobile payment transactions is forecasted to near 50 billion in 2015. Contactless mobile payment transactions and mobile wallets are expected to be the leading segments in terms of market growth.
Gemalto has deployed prepaid EMV banking cards to complement Vodacom’s m-pesa mobile wallet service in South Africa. As a result, Vodacom becomes the first mobile operator to initiate the large-scale rollout of an EMV banking card that is accepted anywhere.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Neil Garner, Chief Executive Officer and Founder of Proxama.
Kenyan payment cards (including debit, credit and charge cards) recorded a compound annual growth rate (CAGR) of 26.32% between 2009 and 2013. The total Cards-in-Force (CIF) rose from 3.8 million in 2009 to 9.7 million at the end of 2013.
Mozido mobile financial services, through its subsidiary Centralized Strategic Services Ltd (CSS), have partnered to create a mobile wallet, branded JCUES (Jamaica Credit Unions E-payment Services), that extends financial services to Jamaica’s underbanked population. Mozido’s mobile financial services technology enabled JCCUL, which represents 42 credit unions serving over a third of the nation’s consumers, to launch a stored-value account mobile wallet initiative that delivers banking options to Jamaica’s estimated two million underbanked citizens, and also brings mobile payments and loyalty services to thousands of merchants. After a one-year initial phase, the Bank of Jamaica has approved phase two pilot of JCUES, now allowing any Jamaican to sign up, add money, and pay for goods and services without the need for a bank account. Phase two of JCUES doubles the target market base in Jamaica, giving over two-million citizens the opportunity for full control over their finances, many for the first time ever.