The partnership will help Toka Fintech, a Mexican-leading financial group, to develop its own digital payment app with Alipay+ Digital Wallet Solution, providing Mexicans with better access to inclusive financial services.
CGAP aims to support up to five MFIs in two workstreams: 1) A measurement workstream to assess the impact that MFIs’ digital solutions, and 2) An automation workstream to automate the repeat loan process, particularly for MFIs’ existing MSE clients.
A recent report found 86 percent of consumers in Colombia — approximately 1.6 million individuals — who had never had a bank account signed up for one between April and November 2020.
At AFI’s Policy Leadership Dialogue on 29 September, Governor Rolle said that "access to mobile wallets and digital payments must be as universal as access to cash."
Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the establishment of a digital banking framework is particularly relevant as billions of people affected by the pandemic are driving a historic and dramatic shift in consumer behavior.
Under this partnership, Orange will deploy Ericsson's Mobile Financial Services solution - Ericsson Wallet Platform - across fourteen of the countries in the region where Orange Money is available, starting with Senegal.
The Belize Bank Limited—along with a fintech solutions provider, Wallet Factory—are the first in the region to launch a digital wallet app providing access to online banking services for Belizean customers.
The value of transactions using the QR (quick response) technology via the national QR code standard reached almost P1 billion as of end-May, as more Filipinos embrace digital channels amid the pandemic.
New legislation and regulatory changes in Egypt are set to unleash a surge in new fintech investments and change the way the country’s largely unbanked citizens do business, industry players say.