"COVID-19 has underscored how important digital systems and contactless transactions are for economic resilience."

Overseas remittances are expected to fall short of the target this year due to the economic crisis caused by the COVID-19 pandemic and shutdowns around the world.

This is the first local source of funding and will bolster the microfinance institution’s ability to serve low-income entrepreneurs.

Digital accelerated to the forefront amid the COVID-19 pandemic, but it’s become clear as governments lift stay-at-home orders that it’s now many consumers' preferred way of getting things done.

The household survey will also capture remittance risks to the rural economy until the pandemic is contained.

The objective is to create a centralized, shared registry in the region that can be customized to each country’s particular case.  

The partnership enables Airtel Money’s 19 million customers to receive MoneyGram transfers directly into their mobile wallets from around the world.

Digital payment software and solutions firm ACI Worldwide will be working with Sri Lanka’s National Savings Bank to implement a new solution for mitigating fraud.

The decision of the National Bank of Ethiopia followed the chronic foreign currency shortage the country has been facing for many years.

Banks continue to dominate the microfinance sector accounting for 41 percent of the loan share of the industry.