Milaap enables international P2P micro lending to India’s poor

Milaap announced last week that it has become the world’s first online microlending platform to enable anyone around the world to play a part in the social development of India.The Milaap team worked with the regulatory body in India for more than a year to ensure that the working poor in India can receive low-cost … Continue reading “Milaap enables international P2P micro lending to India’s poor”

Mobile Governance Policy Framework – Draft Consultation Paper released

The government of India has proposed formulating a comprehensive policy on Mobile Governance.  The National e-Governance Division (NeGD) within the Department of IT has floated a Draft Consultation Paper on Mobile Governance Policy Framework, which is available online (pdf) so that various stakeholders across Government Departments, Industry, and Citizens can give their feedback and comments on the same. The … Continue reading “Mobile Governance Policy Framework – Draft Consultation Paper released”

Mobile Money Southern Asia Conference – 26-29 September 2011

India Microfinance Business News is supporting this year’s Mobile Money Southern Asia, Conference & Expo taking place on 26-29 September 2011 in Mumbai, India. Register now and save up to £450 on your delegate price. Please quote MSAC12 when registering. The South Asian regulatory environment is evolving, enabling the creation of a mobile money transfer (MMT) network. How will you … Continue reading “Mobile Money Southern Asia Conference – 26-29 September 2011”

Western Union Money Transfer to acquire Travelex Global Business Payments for Rs 4300 Crore

The Western Union Company, yesterday announced it has signed an agreement with Travelex Holdings Limited to acquire the Travelex Global Business Payments division, a leading specialist provider of international business payments, for £ 606 million in cash (Rs 4300 Crore approximately). Travelex Global Business Payments (TGBP) conducts business payments annually for 35,000 customers in 14 … Continue reading “Western Union Money Transfer to acquire Travelex Global Business Payments for Rs 4300 Crore”

Citibank joins Interbank Mobile Payment Service

Citibank would now provide Interbank Mobile Payment Service (IMPS) to its customers which will enable them to instantly transfer funds to the customers of 21 other banks who are already providing this service. Citibank joined IMPS with the soft launch in the second week of June 2011 and it is the 22nd bank to join … Continue reading “Citibank joins Interbank Mobile Payment Service”

Visa acquires Fundamo mobile payments company for Rs 500 Crore

Visa will pay approximately $110 million (Rs 500 Crore approximately) in cash. The acquisition will slightly dilutive to Visa’s earnings per share in its fiscal year 2011 ending September 30, 2011. Visa, a global leader in payments, last week announced that it is acquiring Fundamo, a leading platform provider of mobile financial services for mobile … Continue reading “Visa acquires Fundamo mobile payments company for Rs 500 Crore”