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Tag Archives: Money Transfers

Kazakhstan’s mobile finance future

Telecom companies and banks benefit from cooperation in the field of mobile finance, especially in regard to transfers and payments. In Kazakhstan, mobile finance is only at the beginning of its journey; however, there is enormous potential as mobile finance transactions amounted to KZT 65 billion last year.  Most of …

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Top B2B FinTech Companies

B2B FinTech companies don’t often get the recognition of their B2C cousins; however, they play a key role in the future of financial services and deserve some acknowledgment. That being said, our friends over at Tearsheet have created a list of the top B2B FinTech companies, broken down into 9 …

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Revolut plans invasion of the Russian market

Revolut, a British FinTech startup with Russian roots, announced its plans to enter the Russian market this year. The company, valued at USD 561 million, is a mobile app that is integrated with a multi-currency debit card. The service allows users to convert funds from one currency to another at …

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FinTech vs. regulations: can they learn to better coexist?

FinTech startups continually create new, innovative solutions to modern financial issues, taking advantage of technology advances to make lives easier and business processes better. However, they are often at odds with regulations that are too rigid for them to fully operate in. The question remains: is it possible for these …

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Kenyan group in talks with Ethiopian banks on mobile payments

Equity Group Holdings Ltd.’s FinTech Unit is in discussions with six Ethiopian banks to collaborate on cross-border mobile payments and e-commerce. The company, acting via its wholly-owned subsidiary Finserve Africa Ltd., is targeting remittances from three million Ethiopians living outside the country as the country begins opening up its economy …

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OPPA e-wallet enters Georgian digital market

A new electronic wallet (e-wallet) – OPPA – has entered the Georgian digital market. The OPPA brand was created by JSO OPPA (formerly Nova Technology), which operates the PayBox payment terminals and manages online payments pages through its website. Through the OPPA e-wallet, the company hopes to introduce a modern …

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UzCard offers new instant transfer capabilities for Uzbekistan

UzCard has announced the launch of instant money transfers from Qiwi and CONTACT. The transfer is currently only available in one direction (i.e. from Qiwi/CONTACT to UzCard); however, UzCard plans on introducing additional functions in the near future. Transfers are available in amounts of up to USD 500, with up …

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Russian bank launches app to teach children about finances

Russia’s Post Bank has introduced a mobile app for children aged 8-14 as a way of teaching them how to make educated financial decisions. The app allows the children to collect money, shop online and make payments, with distant control measures offered to their parents. The app is based on …

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Corporate banking in Russia heading towards the digital

Much attention has been given to the fact that Russia is considered as a top 5 country in terms of digital banking in Europe. Until now, however, most of this digital attention has been placed on the retail segment of banking. Now, many Russian banks are starting to work on …

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Startups are disrupting the payments industry

Payment startups have seen considerable momentum in recent years and are on track for USD 3.8 billion in funding this year. From point-of-sale solutions to money transfers and mobile payments, these startups are changing how electronic payments are made, accepted and processed. There are nine main payment categories in which …

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VTB Bank (Armenia) launches new, modern ATM services

VTB Bank (Armenia) is now offering its customers new and technological services at ATMs. Customers of the bank can now use ATMs to withdraw money, make payments, execute money transfers and instantly refill cards using cash. Moreover, the new ATMs are capable of accepting up to 90 bills at a …

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Mail.Ru launches money transfer service

User of Mail.Ru can now send money transfers of between RUB 100 and RUB 75,000 to users of any email address. To transfer money, users need to create a new email, click on “Send Money”, specify the card number for the charge and the amount, and confirm the transfer via …

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National Bank of Uzbekistan launches mobile application

The National Bank of Uzbekistan has officially launched Milliy, its free-to-use mobile banking application. The mobile application allows users to access payment/money transfer systems as well as be able to view balances and other information on UzCard, Visa NBU and other accounts and loans with the Bank. The main feature …

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Airfox using blockchain technology to replace banks in emerging markets

The American startup Airfox represents a new opportunity in banking, especially for those without bank accounts in emerging markets. The service allows users to make purchases and transfer money while bypassing current banking systems. Airfox works by using blockchain technology via an application that converts a cryptocurrency to a regular …

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Converse Bank launches new mobile application

Yerevan-based Converse Bank has introduced its free-to-use mobile application called Converse Mobile, which allows customers to manage their accounts at any time of day from anywhere in the world. Using the application, customers can, among other services, make international money transfers, pay utility fees, pay traffic fines, exchange currencies, repay …

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