by Elva Montelongo -

MICROCAPITAL BRIEF: Mastercard, Vodafone Fiji Partner to Provide Debit Cards to Mobile Money Users

Mastercard, a US-based financial services corporation, and Vodafone Fiji, an affiliate of the UK-based communications services provider Vodafone Group, have collaborated to launch the M-PAiSA Mastercard, which will give users of Vodafone Fiji’s M-PAiSA mobile money app the ability to

by Elva Montelongo -

MICROCAPITAL BRIEF: Bankingly, Woodcore Partner to Help FSPs in Africa to Offer Digital Financial Services

Bankingly, a Uruguay-based company that helps smaller financial services providers (FSPs) implement digital financial services, and Woodcore, a provider of core banking software with offices in Nigeria and the US, recently partnered on an effort to help microfinance institutions and other FSPs in Africa to add

by Elva Montelongo -

MICROCAPITAL BRIEF: BIO Loans $15m to AMK Microfinance of Cambodia

BIO, a government-owned institution also known as the Belgian Investment Company for Developing Countries, recently loaned USD 15 million to Cambodia’s Angkor Microheranhvatho Kampuchea (AMK). AMK provides individuals as well as micro-, small and medium-sized enterprises with

by Elva Montelongo -

MICROCAPITAL BRIEF: I&M Bank Enables Spenn Mobile App Users to Send Money to Financial Institutions Across Rwanda 

Norway’s Spenn Technology recently expanded its partnership with the Rwandan unit of Kenya’s Investments & Mortgages (I&M) Bank to allow users of the Spenn mobile application to send money to any financial services provider in Rwanda, including banks and competing mobile money services. The app’s other features include

by Rohit Dayanand -

MICROCAPITAL BRIEF: Axis Launches axisPay Mobile Money App for Small Businesses in Egypt

The Egypt-based firm axis recently launched its mobile banking app axisPay, after raising USD 8.25 million in seed funding in 2021. The app targets small enterprises and their employees, though a version for individual users is being tested. Among the app’s functions are to

by Rohit Dayanand -

MICROCAPITAL BRIEF: Al Tadamun Circulating Mobile Branches to Boost Microfinance for Women in Egypt

Al Tadamun Microfinance Foundation of Egypt is launching three vehicles that will serve as mobile branches in the regions of Cairo, Dakhalia and Minya. Among the goals of the effort are to “contribute to the speed of disbursement of financing and reducing the cost of time and money incurred by the client in order to

by Arin Atluri -

MICROCAPITAL BRIEF: Tagit Developing Mobile App for Advans Microfinance Institutions in Africa, Asia

Advans Group, a Luxembourg-based microfinance organization with operations in nine low- and middle-income countries, recently partnered with Tagit, a Singapore-based mobile technology company, to develop a mobile banking application for Advans customers. The app will be based on

by Harriet Ritchie -

MICROFINANCE PAPER WRAP-UP: “Leadership as a Driver of Innovative Financial Services for Women;” by Jaclyn Berfond, Jennifer Iwueze; Published by WWB

This paper offers an analysis of data collected from alumni of the Women’s World Banking Leadership & Diversity for Innovation Program (LDIP), which engages “senior executives and high-potential women leaders to enable them to successfully serve low-income women” customers of financial service providers (FSPs). The authors focus on “the strategic business initiatives of LDIP participants” and

by Harriet Ritchie -

MICROCAPITAL BRIEF: Nubank of Brazil Raises $750m in Equity, Mostly from Berkshire Hathaway, Sands Capital to Support Expansion in Latin America

Brazil-based digital bank Nubank recently raised USD 500 million from US-based holding company Berkshire Hathaway to help Nubank: (1) strengthen its management team with additional hires; (2)

by Bradley Shulman -

MICROCAPITAL BRIEF: Microfund for Women (MFW) Expands Digital Capabilities via MoneyPhone Technology

Microfund for Women (MFW), a nonprofit microfinance institution in Jordan, recently partnered with MoneyPhone, a Netherlands-based financial technology (fintech) company, to enhance its digital offerings in response to the COVID-19 pandemic. Bdour Al-Hyari, the director of strategic planning and business development at MFW, cited the “opportunity for us to introduce new digital services, such as

by Bradley Shulman -

MICROCAPITAL BRIEF: MoneyGram Partners with InTouch, MFS Africa, Thunes to Expand Options for Sending Remittances to Mobile Wallets

MoneyGram International, a money transfer company based in the US, recently announced partnerships with three companies that facilitate e-wallet services in Africa: InTouch, which is based in Senegal; MFS Africa, which is based in South Africa; and Thunes of Singapore. The partnerships are giving MoneyGram “access to mobile wallets in 28 markets in Africa,” allowing its customers

by Bradley Shulman -

MICROCAPITAL BRIEF: Mastercard Buying 3.8% Equity Stake in Mobile Money Unit of Airtel Africa for $100m

Mastercard, a US-based financial services company, recently agreed to pay USD 100 million for a 3.75-percent equity stake in Airtel Mobile Commerce, a subsidiary of the telecommunications company Airtel Africa that uses the trade name Airtel Money. Mastercard and Airtel Money plan to deepen their ongoing partnership in the areas of

by Bradley Shulman -

MICROCAPITAL BRIEF: Belize Bank, Wallet Factory to Launch Digital Payment Service E-kyash

Wallet Factory, a financial technology company based in the UK, recently partnered with Belize Bank Limited, a commercial bank in Belize, to create E-kyash, a digital payment platform aiming to ease financial transactions for people without bank accounts. E-kyash’s offerings include utility bill payments, retail payments via

by Harriet Ritchie -

MICROCAPITAL BRIEF: Central Bank of Iran Planning NFC System to Allow Retail Payments via Mobile Devices in Lieu of Cards

The Central Bank of Iran reportedly is developing a contactless payment system using near-field communication (NFC) technology that will allow customers to make retail payments using mobile phones. Among the goals of the effort is to reduce: (1) costs for banks and their customers; (2) the use of payment cards, which are gene

by Simrun Kothari -

MICROCAPITAL BRIEF: Genie Enables 14m Bank of Ceylon Customers to Upload Funds for Digital Payments to Retailers, Utilities, Schools, Friends, Family in Sri Lanka

The operators of Genie, an app for performing financial transactions in Sri Lanka, recently partnered with the state-owned Bank of Ceylon (BOC) to allow the 14 million customers of BOC to upload funds to Genie, which can “securely hold credit and debit cards, current and savings accounts and eZ Cash accounts to promote seamless payment experiences.” Genie and the mobile wallet eZ Cash are

by Eugene DeCosse -

MICROCAPITAL BRIEF: Turkish Mobile-payments Platform ininal Partners with Visa to Offer Cash-out at ATMs

A provider of digital wallets in Turkey, ininal, recently partnered with Visa, a US-based payment technology company, to offer prepaid Visa cards to its 3 million customers. This will allow ininal customers