The recent announcement of joint efforts by Microsoft to build new financial services for businesses hints at a multipronged effort to boost financial inclusion, including financial inclusion for smaller businesses, leveraging the M-Pesa platform.
Leveraging i2c‘s unified banking and payments technology, iO offers a range of features and benefits to its users, aiming to redefine the digital banking experience in Peru.
M-KOPA will use the $250 million funding to continue to grow and to improve financial and digital inclusion for underbanked consumers in sub-Saharan Africa.
The move centers on financial inclusion, aiming to provide a new accessible digital payment solution to the 1.7 million people in the United Arab Emirates who are currently unbanked.
According to the release, the partnership was inked at the eighth Tokyo International Conference on African Development, and is among the first to involve an African fintech company.
Services the bank will offer include accepting deposits from individuals and small businesses, carrying out payment and remittance services within Nigeria, issuing debit and prepaid cards and more.
OPay and Mastercard are collaborating to drive financial inclusion across the Middle East and Africa by partnering to open up digital commerce in the region
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.