Financial Behavior in India 2014 Report

InterMedia has released a new report which presents findings on financial behavior among Indian adults. In particular, the focus is on the access and use of banking services and mobile money services; as well as triggers and barriers for potential uptake. The report has been authored by Intermedia and is supported by the Financial Services for the Poor … Continue reading “Financial Behavior in India 2014 Report”

Innovations in Digital Finance 2014 Report

Major new trends and innovations in digital financial services are opening up the possibility of significantly expanding financial inclusion in Africa, according to a new study released this week by IFC, a member of the World Bank Group, and The MasterCard Foundation. The study, “In The Fast Lane: Innovations in Digital Finance“, highlights advances in distribution … Continue reading “Innovations in Digital Finance 2014 Report”

Accion Venture Lab Invests in RevolutionCredit and StreetShares

Early this month, Accion a leader in financial inclusion, announced two investments in RevolutionCredit and StreetShares , through Accion Venture Lab, a $10 million initiative dedicated to providing seed capital and management support to financial inclusion start-ups. Accion Venture Lab Investments 2014 Launched in 2012 and based in Irvine, California, RevolutionCredit was born out of … Continue reading “Accion Venture Lab Invests in RevolutionCredit and StreetShares”

Indian Digital Payments Industry to reach 1.2 Lakh Crore by Dec 2014

The digital payments industry is expected to grow at a rate of 40% to reach INR 120,120 crore by December 2014. The digital payment industry was pegged at INR 85,800 crore in December 2013, according to the Digital Payments Report titled “INR 85,800 Crore Digital Money”, by the Internet and Mobile Association of India (IAMAI), … Continue reading “Indian Digital Payments Industry to reach 1.2 Lakh Crore by Dec 2014”

Mastercard acquires India based ElectraCard

MasterCard this week announced that it has entered into an agreement with Opus Software Solutions Pvt. Ltd to acquire its subsidiary, ElectraCard Services Private Limited (electracard.com), a leading global provider of software solutions and processing services for electronic payment and card systems. MasterCard previously had a minority investment in ECS. This transaction is anticipated to … Continue reading “Mastercard acquires India based ElectraCard”

SafetyPay gets US$ 7 million investment from IFC

IFC, a member of the World Bank Group, is investing Rs 42 Crore (US$7 million) in SafetyPay, a company that through its secure payment system gives people in Latin America access to the lower prices and increased efficiency of online commerce.   SafetyPay enables consumers who may not have a credit card to buy online … Continue reading “SafetyPay gets US$ 7 million investment from IFC”

MasterCard and Beam plan to to Reach 14 Million New Customers

At Mobile World Congress yesterday , MasterCard announced its collaboration with Beam, a revolutionary mobile and electronic commerce wallet, to launch a first-of-its kind, low-cost, MasterCard mobile companion pre-paid card that will allow over 14 million mobile wallet consumers of Beam to transact at physical merchants, online and access ATMs. The prepaid card will seamlessly … Continue reading “MasterCard and Beam plan to to Reach 14 Million New Customers”