In an attempt to take its share of the exploding cross-border payments market, which hit about $600 billion last year according to some estimates, Wirecard is launching a new mobile money remittance service in Europe, targeting consumers including unbanked migrants sending funds home.
U.K.-based Starling Bank has become the “first of the digital-only challengers” to join Faster Payments this week. The 13th direct participant of the Faster Payments Scheme, Starling says its customers will be able to see where their money is flowing and when in real-time, 24/7.
More than 138 million Europeans do not have access to formal banking services, says Mastercard in a new report—news that could present an opportunity to prepaid providers and so-called “challenger banks.”
The number of households without bank accounts fell to its lowest level since the FDIC first began conducting its biannual survey in 2009. Seven percent of U.S. households were unbanked last year, according to the FDIC’s 2015 National Survey of Unbanked and Underbanked Households, released Oct. 20.
Peru’s new nationwide mobile money network has launched with the goal of bringing 5 million of the country’s unbanked citizens into the financial system over the next five years.
In Uber’s latest move to expand its services to emerging markets, the San Francisco-based company has formed a partnership with Mumbai-based Paybefore Awards winner ItzCash Card Ltd. to reach unbanked consumers in areas outside India’s major cities.
Using Sibos as a springboard into the wider financial services community, mobile technology giant Ericsson is hoping to persuade more banks to join Peru’s La Asociación de Bancos del Perú (Asbanc). The Association connects unbanked consumers, telcos and banks together to offer a full range of services across the globe.
The world’s unbanked population plummeted by 20 percent between 2011 and 2014, as 700 million adults became account holders, according to a new report from the World Bank.
Mobile money is expanding rapidly as global smartphone penetration grows. This year, many providers are looking to expand their range of mobile money services to areas such as credit and savings – but operators must be wary of the remaining challenges, including regulation and market sizes, according to a new report by the GSMA.
FDIC Advisory Committee on Economic Inclusion will meet this week to discuss the results of the 2013 National Survey of Unbanked and Underbanked Households.
The U.S. Department of the Treasury’s Direct Express Debit MasterCard program now serves nearly one-quarter of the nation’s entire unbanked population, a recent cardholder survey confirms.
The U.S. Department of the Treasury’s Direct Express Debit MasterCard program now serves nearly one-quarter of the nation’s entire unbanked population, a recent cardholder survey confirms.
T-Mobile USA Inc. this week became the first major U.S. mobile carrier to enter the GPR prepaid arena with Mobile Money by T-Mobile, a new smartphone application and accompanying Visa prepaid card.
Senior transaction banking executives have called for a political discussion to resolve the issue of emerging market access to banking services caused by the reduction of the correspondent banking services network.
Amex, home of that object of envy, the Black Card, is expanding in an unexpected direction – to provide services to the unbanked and underbanked.
Globally, around 50 per cent of the population do not have a bank account. Whether that is perceived as a surprisingly large or surprisingly small ratio is questionable; what is certain is that there is a potentially significant opportunity to provide those financial services
MasterCard and Entrepreneurial Finance Lab (EFL) have announced a global partnership to promote small business growth in developing countries. The partnership, agreed yesterday at Sibos, provides international issuers in developing markets with new tools to help to improve credit underwriting for unbanked small businesses.
Aug. 20, 2013 A mobile payments network aims to bring financial services to Colombia’s unbanked consumers and move the country’s economy away from cash. The Miami-based network, known as YellowPepper, thus far has signed up 12 Colombian banks for its system, which includes a virtual payment card, P2P and mPOS capability, according to a report […]
May 30, 2013 Vesta Corp., an Atlanta-based electronic payments services provider with offices in Ireland and China, has teamed up with three firms to develop Vesta PayMobile, a white-label e-wallet to help MNOs provide financial services to their prepaid customers. The smartphone application will launch with, yet unnamed, major mobile operators in the U.S. in […]
