Vodacom Lesotho has expanded its M-Pesa mobile money service to all users in the country, regardless of which mobile network they subscribe to, in a bid to increase financial inclusion.
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.
The mobile money market matured as transaction value grew by 14% to US$1.4 trillion and total global registered accounts reached 1.75 billion in 2023, an increase of 12% year-on-year.
Visa says it is collaborating with QR payment providers across the Asia-Pacific region to kick off a scheme that would enable digital wallet users in the region to make QR payments at merchants when traveling abroad.