Obopay and Star Network to enable real-time mobile account to account transfers
Obopay, the pioneer in mobile money solutions, today announced an agreement with the STAR Network through which Obopay will incorporate the STAR Expedited Transfer Service – which enables real-time transfers between STAR accounts – into its own Mobile Money for Banks offering. STAR is a First Data company and a leading debit network. [...]
KCB starts online pay system for tourism
KABURU MUGAMBI
Kenya Commercial Bank (KCB) has launched an online payment service to enable electronic tourism take hold, as most bookings and payments are made on the internet.
KCB deputy chief executive, Mr Peter Munyiri, on Thursday said that Kenyan businesses, mostly small, lose millions of shillings because they are unable to use online payment systems.
“Electronic commerce [...]
Is The Rise of Mobile Money Aiding Terrorism?
The GSM Association (GSMA) has reacted angrily to the claim by customer screening software specialist Datanomic Ltd. that operators “offering mobile money transfer services in emerging markets are at risk of inadvertently sponsoring terrorism, money laundering and human trafficking.”
In a press release issued earlier this summer, Datanomic claims that some mobile operators in emerging markets [...]
Somaliland to become the first cashless society
Bob Dylan once said that ‘money doesn’t talk, it swears’, but in Hargeisa the capital of Africa’s Somaliland it stinks. It literally stinks, reeking of rotten paper, like a leaky library in a monsoon.
That’s because there’s so much of it. For every dollar there are almost 17,000 Somaliland Shillings and the highest-denomination note is 500 [...]
Vodacom, Nedbank launch mobile cash service
Reuters.
South Africa’s largest mobile phone group Vodacom is teaming up with Nedbank to deliver a phone-based cash transfer service, similar to a successful service operating in Kenya.
The product known as M-Pesa will initially allow users without access to bank accounts to transfer money using their mobile phones and eventually pay bills and buy goods.
The service [...]
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Michael Malakata
For the first time, Southern Africa Development Community (SADC) mobile technology and banking industry leaders gathered this week to overcome security concerns about mobile phone transactions.
Governments and financial sector regulators in the SADC region are skeptical about mobile security and have in many cases refused to grant licenses for mobile transaction services.
But service providers [...]
Aqua Vitens Rand Limited (AVRL), in collaboration with eTransact, on Wednesday introduced the first ever mobile utility bill payment system in the country.
The system, developed by eTransact, an electronic transaction solutions company, would enable debit card and ATM card holders to pay water bills through selected banks using the credit on their mobile phones.
The selected [...]
News Agency of Nigeria
The Federal Government will compel GSM operators to embark on mandatory registration of SIM cards of mobile phone subscribers for security reasons, Vice President Goodluck Jonathan said on Monday.
Jonathan made the revelation when members of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) visited him in Abuja.
Jonathan said [...]
Naa Norley
In curbing discrepancies in the mobilisation of the Accra Metropolitan Assembly’s (AMA) revenue generation, SW Global Limited is introducing e-payment cards to increase revenue by providing an automated system for managing revenue collections.
There have been instances were some staff of the Assembly have been arrested for duplicating or issuing fake receipts to business operators [...]
Gertrude Majyambere
Government through the e-soko project will next month buy 35,000 mobile phones for farmers, a move that is meant to bridge the information gap between farmers and buyers.
The e-soko is a project designed to give farmers access to up dated market price information for particular commodities. Through public private partnership, talks are in the [...]
Leading mobile banking software vendor M-Com announced today the global availability of a solution meant to deliver mobile payments functionality to banks and payment processors, the M-Com BankAnywhere. The new solution, which uses Microsoft technologies (including Windows and Microsoft SQL Server), is set to enable banks to provide mobile payments services to users, while also [...]
Leverages mobile opportunity to ‘Bank the Unbanked’ – a $5bn industry by 2013, Juniper Research
Roamware Inc., a global leader in mobile roaming solutions, announced that it has completed the acquisition of Macalla Software Ltd., a leading developer of mobile financial services (MFS) solutions. Macalla’s m-commerce and mobile banking solutions are successfully deployed by banks [...]
BY LEIGH-ANN FRANCIS
According to the UN Department of Economic and Social Affairs, there are 300 million reachable adults in Africa that currently have no access to formal financial services.
The greatest requirements of this unbanked market are “access to simple payments and real P2P solutions that will fuel greater economic growth and inclusion for the [...]
Washington Gikunju
Kenya engraved her name in history books by becoming the first country to activate what has been termed as the world’s first ever mobile phone based money transfer system in March 2007.
The M-pesa service which is run by Safaricom has since captured its users’ imagination, drawing in about seven million users in just over [...]
Washington Gikunju
The collapse of Kenya’s rural economy has left urban folks with the burden of meeting the financial needs of rural-based relatives, raising the level of dependency in the country by the largest margin in a span of three years.
Fresh data on movement of money in the economy indicates that the majority of rural homes [...]
