Yet another financial innovation using mobile telecommunications has been introduced in Africa. This time, it’s an investment product from Uganda’s MTN Mobile Money (MTN MoMo), a mobile financial service provider.
Digicel Pacific announced on Wednesday that it has launched a ‘Pacific Transfers’ service for its MyCash mobile wallet that it says enables direct, fast and relatively cheap money transfers via mobile between users in Fiji, Samoa, Tonga and Vanuatu.
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.
The ups and downs of the payment service provision business, particularly in Africa, have been highlighted in two recent news stories: one involving expansion for SPAYZ.io and the other signalling the end of Pay U Kenya.
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