Category: Technology

MICROCAPITAL BRIEF: Aavishkaar Goodwell Invests $6m in Electronic Payment Services (EPS); 4,500 ATMs Planned for Rural India

Aavishkaar Goodwell, an Indian-Dutch joint venture that invests in development projects, reportedly has invested an additional INR 360 million (USD 6 million) in Electronic Payment Services (EPS), an India-based company that provides electronic payment systems to merchants in Asia. Continue reading

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MICROFINANCE PUBLICATION ROUND-UP: Microfinance and Mobile Banking, Financing Incremental Housing Improvements, Middle East and North Africa (MENA) 2012 Microfinance Snapshot

“Microfinance and Mobile Banking: Blurring the Lines?”; by Michel Hanouch and Sarah Rotman; published by CGAP (Consultative Group to Assist the Poor); 2013; 20 pages; available at http://www.cgap.org/sites/default/files/Focus-Note-Microfinance-and-Mobile-Banking-August-2013.pdf

This report presents the results from a study conducted by US-based NGO CGAP (Consultative Group to Assist the Poor) that explored the impact of mobile banking services on the microfinance market. Continue reading

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MICROCAPITAL BRIEF: PlaNet Finance Partners with Thaneakea Phum Cambodia (TPC), China Foundation of Poverty Alleviation (CFPA) to Implement Microfinance Risk Management System

PlaNet Finance, a France-based nongovernmental organization, recently partnered with Thaneakea Phum Cambodia (TPC), a Cambodia-based microfinance institution (MFI), and the China Foundation of Poverty Alleviation (CFPA), a China-based microfinance lender, to integrate PlaNet Finance’s new risk management system into the two Asian MFIs’ operations. Continue reading

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MICROCAPITAL BRIEF: Cambodian Microbank Sathapana, ElectraCard Partner to Provide ATM, Debit Card Services

Sathapana Limited, a Cambodia-based microfinance institution (MFI), reportedly has partnered with ElectraCard Services (ECS), a subsidiary of India-based Opus Software Solutions that provides electronic payment services, to provide automated teller machine (ATM) and debit card services to Sathapana customers. Continue reading

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MICROCAPITAL BRIEF: Ngozi Okonjo-Iweala (NOI) Poll Reveals Mobile Money Not Widely Adopted in Nigeria

A recent survey in Nigeria on the adoption of mobile money services, conducted by the Ngozi Okonjo-Iweala (NOI) Polls, an opinion polling and research organization based in Nigeria, concluded that sixty percent of Nigerians do not know what mobile money is or that it is offered in their country. Continue reading

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MICROCAPITAL BRIEF: Rizal Microbank of the Philippines Sets Up Eight Mobile Microbusiness Offices (MBOs)

Rizal Microbank, a Philippines-based microfinance subsidiary of Rizal Commercial Banking Corporation (RCBC) that offers microloans, deposits, and microinsurance, reportedly is spending PHP 16,000,000 (USD 367,000) to set up eight mobile microbusiness offices (MBOs) to increase microfinance services in the Philippines [1]. The MBOs, which will be made up of two container vans and run by two bank employees, will allow customers to deposit and withdraw cash and apply for loans without needing to travel to a bank branch [1]. The transactions will be cashless and done through Automated Teller Machines (ATMs) or RCBC’s “My Wallet” debit card [2].

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MICROCAPITAL BRIEF: Palestine Monetary Authority (PMA), Banking Production Centre (BPC) Banking Technologies Group Partner to Provide Electronic Money in Palestine

The Palestine Monetary Authority (PMA), the territory’s central bank, with the help of the Banking Production Centre (BPC) Banking Technologies Group, a Russia-based e-payment solutions provider for the financial industry, plans to launch a national electronic payment system in an effort to transition Palestine away from its current cash and check system. Continue reading

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MICROCAPITAL BRIEF: Macedonian Aspekt, Bosnian EKI Sign Deal to Implement Microfinance Software

Aspekt, a Macedonia-based computer technology company, has signed an agreement with Microcredit Foundation EKI, a Bosnia-based microcredit foundation that aims to reduce poverty in Bosnia and Herzegovina, to implement Aspekt’s microfinance software solution to support EKI’s microcredit services [1]. Continue reading

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MICROCAPITAL BRIEF: MasterCard, South African Social Security Agency (SASSA) Distribute 10m Biometrically Secured Debit Cards to Social Grant Beneficiaries

MasterCard Incorporated, a US-based global payments and technology company, and the South African Social Security Agency (SASSA), a government-funded organization that distributes social grant funds, have distributed 10 million active MasterCard debit cards to individual beneficiaries in South Africa, replacing cash payments. Continue reading

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MICROCAPITAL BRIEF: Australia and New Zealand Banking Group (ANZ), Fiserv Extend Mobile Money Services to Papua New Guinea, Samoa, Solomon Islands, Vanuatu

Australia and New Zealand Banking Group Limited (ANZ), an Australia-based bank, and Fiserv, a US-based financial services technology provider, reportedly have partnered to provide mobile money services to people lacking access to traditional financial services in Papua New Guinea, Samoa, the Solomon Islands and Vanuatu.  Continue reading

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MICROCAPITAL BRIEF: Beneficiaries of Jamaica’s Program of Advancement Through Health and Education (PATH) to Receive Mobile Money Payments

The Jamaican government reportedly has announced a plan to begin disbursing mobile money payments to beneficiaries of its Program of Advancement Through Health and Education (PATH), a conditional cash transfer (CCT) program established in partnership with the US-based World Bank Group that provides grants for health and education to qualified need-based applicants. Continue reading

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MICROCAPITAL BRIEF: Mobile Telecommunications Network (MTN) Ghana Launches “ATM Cash Out” Service to Mobile Money Subscribers

The Ghanaian arm of Mobile Telecommunications Network (MTN) Group Limited, a telecommunications service provider based in South Africa, has launched its “Automatic Teller Machine (ATM) Cash Out” service in Ghana, allowing subscribers of MTN Mobile Money, an electronic wallet service offered by MTN, to withdraw money from ATMs without a card.  Continue reading

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MICROCAPITAL BRIEF: Western Union, eTranzact Launch Mobile Money Product in Nigeria

The Western Union Company, a US-based financial services company, reportedly is partnering with eTranzact, a Nigeria-based mobile money service provider, to launch a mobile money service in Nigeria. The service is expected to allow customers on the eTranzact mobile money platform, PocketMoni, to receive mobile money transfers from 23 “sender” countries using their mobile phones. Continue reading

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MICROCAPITAL BRIEF: Rwanda’s Bank of Kigali Announces New ‘mVisa’ Mobile Banking Service

The Bank of Kigali (BK), a commercial bank based in the Rwandan capital of Kigali, reportedly has announced the development of a new mobile banking product, ‘mVisa’, that is expected to allow rural populations to gain access to banking services that historically have been inaccessible to rural Rwandans. According to a statement attributed to Lawson Naibo, the chief operations officer of BK, the service will aim to allow rural clients to easily access their bank account through their mobile phone and encourage higher banking participation rates in rural Rwandan communities where bank branches are often not present. Continue reading

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