Mobile money firms across Africa are ramping up plans to bring banking to millions after the pandemic caused a surge in the use of digital financial services.

A new study has found that total spend through digital wallets will exceed $10 trillion in 2025, up from $5.5 trillion in 2020.

ACI Worldwide and InComm Payments announced a partnership that will digitize cash payments through the use of a barcode payment token.

Amartha will use the funds from US-based Lendable to encourage women micro entrepreneurs.

These loans are intended to support 9,100 people, 90 percent of whom are women, whose livelihoods have been threatened by the effects of the COVID-19 pandemic.

Delve into the extensive summaries plus full recording of the EMW2020 sessions covering key topics such as the impact of & response to COVID-19, effective & inclusive savings, digital finance, climate change, client protection and more.

The initiative comes as part of Egypt’s fintech and innovation strategy that aims to achieve the state’s goals in using technology, as well as promoting innovation and financial inclusion.

With more people avoiding physical cash amid the COVID-19 pandemic, digital payments are becoming more popular in Japan.

The new Base of the Pyramid Program will provide up to $400 million to microfinance institutions, non-bank financial institutions, and banks that are focused on micro, small, and medium enterprises.

COVID-19 has created many disruptions in Ethiopia this year, impacting both merchants and consumers.