Globe Telecom president and CEO Ernest Cu said on Monday that unauthorized transactions that affected some GCash wallet users in the Philippines over the weekend were the result of a glitch, and that no funds were lost.
Vietnam’s mobile money service is reportedly set for a major upgrade from pilot mode to full-fledged service that, among other things, will see transaction caps raised to ten times the current amount.
Lao Telecom’s fintech unit Lao Mobile Money – which operates the MmoneyX mobile wallet – has become a strategic business partner with Visa in a deal aimed at boosting digital payments and financial inclusion in Laos.
At Mobile World Congress on Monday, payments company Visa and the GSMA Mobile for Development Foundation (a.k.a. the GSMA Foundation) launched the Digital Finance for All (DFA) Initiative to advance digital financial inclusion in developing markets.