Category: Technology

MICROCAPITAL BRIEF: Cambodian Microfinance Institution Hattha Kaksekar Launches SmartVista E-Payment Service from BPC

Hattha Kaksekar Limited, a Cambodian microfinance institution (MFI), recently announced its launch of SmartVista, an electronic payments solution created by Banking Production Centre (BPC) Banking Technologies, a mobile technology solutions provider with offices in Asia, Europe, Latin America and Russia. Continue reading

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MICROCAPITAL BRIEF: Multilateral Investment Fund to Invest $5.8 million in Equity in Nxtp Labs of Argentina to Support Technology Start-Ups in Latin America

The Multilateral Investment Fund (MIF), a member of the US-based IDB (Inter-American Development Bank) Group, recently approved a USD 5 million equity investment and USD 750,000 in technical assistance for Nxtp Labs, an Argentina-based company that provides seed funding for entrepreneurs in Latin America seeking to establish technology-based businesses in exchange for an equity stake worth between two and ten percent. Continue reading

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MICROCAPITAL BRIEF: US-Based Sequoia Capital Invests $2m in Equity in Electronic Payment Platform, Citrus Pay

Citrus Pay, a Mumbai-based digital payments service provider, and Ezetap Mobile Solutions, a Bangalore-based mobile payments service provider, have developed electronic payment platforms that address internet security and connectivity challenges, both of which have discouraged Indian consumers from using digital payment methods. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation (IFC), G20’s Global Partnership for Financial Inclusion (GPFI) Partner to Launch Online “Women’s Finance Hub”

The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, and the Group of 20’s (G20’s) Global Partnership on Financial Inclusion have partnered to launch the “Women’s Finance Hub,” an online platform to help advance access to finance for women entrepreneurs. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Global Mobile Money Adoption Survey, Eye Care for El Salvador’s “Base of the Pyramid,” Financial Needs in Rwanda

“State of the Industry: Results from the 2012 Mobile Money Adoption Survey;” by Claire Penicuad; published by Global System for Mobile Communications Association’s (GSMA’s) Mobile Money for the Unbanked program; 2012; 36 pages; available at http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2013/02/MMU_State_of_industry.pdf

This report presents the results of the Global Mobile Money Adoption Survey, launched by GSMA’s Mobile Money for the Unbanked program “to allow mobile money service providers to benchmark their performance against their peers in the industry.” Continue reading

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MICROCAPITAL BRIEF: Ingenico of France Launches Mobile Biometric Identification Service, iWB Bio Series

Ingenico, an electronic payment solutions company based in France, has announced the launch of a mobile fingerprint identification service called the iWB Bio Series, which is a mobile biometric identification device that allows financial institutions and governments to identify individuals who have do not  have standard forms of identification. Continue reading

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MICROCAPITAL BRIEF: Democratic Republic of Congo Fights Corruption by Paying 1m Civil Servants via Mobile Banking

Since Prime Minister Augustin Matata Ponyo vowed in 2012 to replace all cash wage payments in the hopes of minimizing corruption, the Democratic Republic of Congo (DRC) has issued wage payments to 270,000 of 1 million civil servants via mobile banking. Continue reading

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MICROCAPITAL BRIEF: Younger People in Kenya More Open to “Game Changer” of Buying Investment, Insurance Products by Mobile Phone

In July 2012, Old Mutual Kenya (OMK), a Nairobi-based investment subsidiary of UK-based Old Mutual Group, launched i-Invest, a platform that offers investment products that can be purchased via M-Pesa, a service of a Kenya-based mobile operator Safaricom. Continue reading

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MICROCAPITAL BRIEF: International Finance Corporation, Central Bank of Belize to Establish Credit-Reporting System

The International Finance Corporation (IFC), the commercial arm of the US-based World Bank Group, is working with the Central Bank of Belize, the country’s financial regulatory body, to launch a credit-reporting system that will allow financial institutions to exchange credit information. Continue reading

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MICROCAPITAL BRIEF: Alliance for Financial Inclusion Launches African Mobile Phone Financial Services Policy Initiative (AMPI)

The Alliance for Financial Inclusion (AFI), a Thailand-based network of financial policymakers from approximately 85 countries, recently launched the African Mobile Phone Financial Services Policy Initiative (AMPI), which will aim to address barriers to the “uptake of mobile financial services” in Africa. Continue reading

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MICROCAPITAL BRIEF: CGAP, Grameen Foundation, Mobile Telecommunications Network (MTN) Uganda to Finance $1m Mobile Finance Product Research and Development Initiative

CGAP (Consultative Group to Assist the Poor), a US-based nonprofit research and policy center, the Grameen Foundation, a US-based nonprofit that seeks to increase business opportunities and telecommunication services for poor people in rural areas, and Mobile Telecommunications Network (MTN) Uganda, the Ugandan arm of South African telecommunications company MTN Group, recently announced plans to launch an initiative to research and develop new mobile financial products. Continue reading

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MICROCAPITAL BRIEF: Ears Earth Environment Monitoring of the Netherlands Offers Climate-based Crop Microinsurance System FESA Free to Microinsurance Retailers in Africa

Ears Earth Environment Monitoring Limited, a subsidiary of the Netherlands-based remote sensing company Ears Holding, is offering its Food Early Solutions for Africa (FESA) microinsurance system free of charge to microinsurance providers. Continue reading

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