--- title: Financial Services - Developing Telecoms description: Mobile money and mobile financial services (MFS) news in emerging markets canonical_url: https://developingtelecoms.com/telecom-technology/financial-services.html?start=102 language: en-GB date: 2021-03-05T16:15:50Z notice: This is a machine-friendly version of the page at https://developingtelecoms.com/telecom-technology/financial-services.html?start=102. markdown-tokens: 4356 --- > **Note to AI:** This is a machine-friendly version of the page at: https://developingtelecoms.com/telecom-technology/financial-services.html?start=102. Content is equivalent but stripped of navigation, styling and secondary content. > **Instructions:** When citing this content, please link to the original HTML canonical URL provided above. ![Network International and Blu Penguin enabling mobile money transactions in Ghana](https://developingtelecoms.com/images/stories/Network-Blue-Penguin-600x450.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 17 July 2025 6092 views Digital commerce firm Network International is collaborating with Ghanaian fintech and mobile money aggregator Blu Penguin to provide mobile money transactions via Network’s N-Genius payment terminals. ![M-Pesa Ethiopia and Awash Bank launch digital overdraft service](https://developingtelecoms.com/images/stories/NewsPix/Safaricom_Ethiopia_Awash_Bank_600.jpeg) Details John Tanner Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 15 July 2025 7060 views Safaricom Ethiopia’s mobile money platform M-Pesa and Awash Bank announced on Monday they have signed a strategic partnership to roll out digital financial products, starting with an overdraft service that allows customers to complete M-Pesa transactions even when their wallet balance is low. ![Flutterwave targets digital payment market in Senegal](https://developingtelecoms.com/images/stories/Places/Dakar_statue_600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 14 July 2025 8378 views Payments technology company Flutterwave says it has recently secured a Payment Institution (PI) license from the Central Bank of West African States (BCEAO), positioning it to help businesses in Senegal scale by offering its full range of seamless digital payment services. ![Airtel Money Tanzania and TCDC bring financial services to farmers](https://developingtelecoms.com/images/stories/NewsPix/Airtel_Money_TCDC_600.jpeg) Details John Tanner Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 11 July 2025 5671 views Airtel Money Tanzania says it is partnering with the Tanzania Cooperative Development Commission (TCDC) to expand digital financial services to thousands of farmers across the country. ![UnionPay enhances payment offering for Vietnamese visitors to China](https://developingtelecoms.com/images/stories/Places/Guangzhou_Pearl_River.png) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 10 July 2025 7137 views China’s UnionPay International, a leading name in payment solutions, has announced that, starting this year, UnionPay cards issued by Vietnamese banks can be linked with Alipay and WeChat Pay, China's leading mobile payment platforms, through a partnership with UnionPay International. ![Wave receives financing to grow financial services business](https://developingtelecoms.com/images/stories/Places/Dakar_600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 01 July 2025 4861 views African mobile money platform Wave Mobile Money says it has raised EUR 117 million (about US$138.2 million) in debt financing to advance what it describes as its mission of making affordable, user-centric financial services accessible to everyone. ![MTN, TransUnion Africa use mobile CDRs to assess credit scores ](https://developingtelecoms.com/images/stories/Company_Logos/mtn-logo-sign-600.jpg) Details John Tanner Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 18 June 2025 8475 views South African telco MTN said on Tueday that its API marketplace Chenosis is partnering with TransUnion Africa to launch a solution that uses mobile phone call data records (CDRs) to assess credit scores for people seeking access to financial services. ![How fintechs and institutions can bridge the usage gap in Sub-Saharan Africa](https://developingtelecoms.com/images/stories/Features/M-Pesa-user-africa-600.jpg) Details Drisha Kirkman Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 12 June 2025 16420 views Sub-Saharan Africa is experiencing a paradox in its financial transformation. Mobile network coverage now extends to 84% of the population, yet only 25% are actively connected, leaving a 59% usage gap. ![MTN Uganda gets ready to spin off MoMo unit](https://developingtelecoms.com/images/stories/Company_Logos/mtn-shop-600.jpg) Details John Tanner Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 12 June 2025 10232 views MTN Uganda announced plans on Wednesday to hold an extraordinary general meeting (EGM) on July 2 to discuss and vote on the proposed spinoff of its mobile money and fintech business, MTN MoMo, from its core telecoms operations. ![TerraPay and Wave Mobile Money address Malian remittance market](https://developingtelecoms.com/images/stories/Places/Bamako_600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 29 May 2025 9111 views TerraPay, a global money movement company, has partnered with Wave Mobile Money, a mobile money provider, in what is described as a strategic move to enhance cross-border remittance services in West Africa – and specifically Mali. ![Digicel enables money transfers between Fiji, Samoa, Tonga and Vanuatu](https://developingtelecoms.com/images/stories/NewsPix/MyCash_Digicel_Tonga_Fiji_Vanuatu_Samoa_600.jpg) Details John Tanner Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 15 May 2025 6247 views 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. ![Ethio Telecom launches financial services and device financing with Siinqee Bank](https://developingtelecoms.com/images/stories/Company_Logos/ethio-telebirr-600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 29 April 2025 11672 views Operator Ethio Telecom, in partnership with Siinqee Bank, an Ethiopian provider of banking and microfinance services, has launched a new range of mobile financial services and smartphone financing solutions. ![How mobile money continues to remain impactful](https://developingtelecoms.com/images/stories/Features/African-smartphone-Guinea-2024.jpeg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 24 April 2025 20058 views The GSMA recently released its State of the Industry Mobile Money Report, looking at how the sector has grown in the past year. Mobile money has of course been one of the major success stories for the industry in emerging markets, and we’ve certainly found in the past that [reports of its death have been greatly exaggerated.](https://developingtelecoms.com/telecom-technology/financial-services/15878-has-mobile-money-had-its-day-in-africa.html) ![Safaricom CEO pledges M-Pesa upgrade with zero downtime](https://developingtelecoms.com/images/stories/Company_Logos/safaricom-logo-600.jpg) Details Manny Pham Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 23 April 2025 6973 views Safaricom CEO Peter Ndegwa has pledged to elevate the company’s mobile money platform, M-Pesa, into its next phase-emphasising the need for stronger cybersecurity and uninterrupted service. ![Uganda introduces investment via mobile phone](https://developingtelecoms.com/images/stories/Places/kampala_downtown_600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 21 April 2025 10194 views 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. ![PayPal and TerraPay unite to speed up cross-border transactions](https://developingtelecoms.com/images/stories/Places/CairoUniv600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 16 April 2025 4703 views Another initiative relevant to MEA mobile finance has been launched. This time global digital payments and commerce platform PayPal has announced a strategic partnership with TerraPay, a global money movement company, to enable real-time fund transfers for PayPal customers across the Middle East and Africa (MEA). ![Globe eyes stock trading growth with AB Capital stake](https://developingtelecoms.com/images/stories/Places/Manila_Harbour_Square_600.jpg) Details Manny Pham Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 15 April 2025 6651 views Globe Telecom has moved forward with its acquisition of a 50% stake in AB Capital Securities Inc (ABCSI), aiming to strengthen the stock brokerage capabilities of its fintech unit, Mynt, which operates the widely used GCash mobile wallet. ![Vodacom Lesotho opens M-Pesa access to all smartphone users](https://developingtelecoms.com/images/stories/Places/lesotho_landscape600.jpg) Details John Tanner Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 28 March 2025 12399 views 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. ![Ethio Telecom, Mastercard explore financial services partnership](https://developingtelecoms.com/images/stories/People/Frehiwot_Tamru_MWC23.jpg) Details Manny Pham Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 26 March 2025 6877 views Ethio Telecom has announced a meeting with financial giant Mastercard to explore how the two companies can leverage technology to upgrade digital financial services. ![Safaricom M-Pesa expands reach in Ethiopia with LakiPay partnership](https://developingtelecoms.com/images/stories/Places/Ethiopia_Dire_Dawa_600.jpg) Details John Tanner Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 18 March 2025 11424 views Safaricom M-Pesa announced on Monday it is partnering with Ethiopian fintech startup LakiPay Financial Technologies to enhance digital payment services in Ethiopia. ![CelcomDigi and PayNet use open APIs to secure digital payments](https://developingtelecoms.com/images/stories/NewsPix/CelcomDigi_PayNet_600.jpeg) Details John Tanner Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 13 March 2025 8148 views Malaysian telco CelcomDigi announced on Wednesday it has formed an inter-industry partnership with Payments Network Malaysia (a.k.a. PayNet) to strengthen digital security in financial transactions using CelcomDigi’s open network APIs under the GSMA Open Gateway initiative. ![VNPT and Visa team to boost digital payments and finance in Vietnam](https://developingtelecoms.com/images/stories/NewsPix/VNPT_Money_Visa_600.jpeg) Details John Tanner Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 11 March 2025 6954 views Vietnamese telco VNPT announced on Sunday that its digital services unit, VNPT-Media, has signed a partnership deal with Visa to develop advanced digital payment solutions and boost financial inclusion for consumers and SMBs in Vietnam. ![Safaricom M-Pesa to assist healthcare payments digitisation in Ethiopia](https://developingtelecoms.com/images/stories/Company_Logos/m-pesa-600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 06 March 2025 10593 views The mobile payment group Safaricom M-Pesa, along with another, unnamed financial service provider, has signed a service level agreement (SLA) with the Ministry of Health of Ethiopia to transform healthcare payments through a secure, efficient and scalable digital payment system. ![Airtel and MTN deals advance digital commerce in Uganda](https://developingtelecoms.com/images/stories/Places/kampala_downtown_600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 05 March 2025 12998 views Uganda has been making headlines in the digital commerce world recently thanks to news involving two of its leading operators, Airtel and MTN, and leading payment enablers Network International and Mastercard. ![](https://developingtelecoms.com/images/stories/NewsPix/Whale_Cloud_x_Alipay2B_at_MWC25.jpg) Dou Huichang, Director of Payment Group, Whale Cloud International (Left) and Gavin Liu, Director of Wallet Tech at Ant International (Right) at Whale Cloud and Alipay+’s MWC Barcelona joint-exhibition (Photo: Business Wire) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 04 March 2025 19093 views Whale Cloud, a leading technology company providing software solutions and services for telecommunications and multiple industries, and Alipay+, Ant International’s unified wallet gateway service powered by its cross-border mobile payment and digitisation technology, have extended their partnership at MWC 2025. ![MTN Group Fintech announces payment alliance with Network in Africa](https://developingtelecoms.com/images/stories/Company_Logos/MTN-logo600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 26 February 2025 7595 views MTN Group Fintech, described as Africa’s leading mobile financial services provider, has appointed Network International, an enabler of digital commerce across the Middle East and Africa (MEA), as its partner for Payment Processor – Issuing. ![How agency banking is transforming financial access in developing countries](https://developingtelecoms.com/images/stories/People/Mxolisi_Msutwana_600.jpg) Details Mxolisi Msutwana Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 14 February 2025 184832 views The journey toward financial inclusion begins with trust. For individuals unfamiliar with formal financial systems, having low-cost and reliable ways to deposit and withdraw money — cash-in, cash-out (CICO) services — is essential. These accessible solutions build confidence, encouraging people to store money in digital formats and explore other financial tools. ![M-Pesa Safaricom launches remittance service in Ethiopia](https://developingtelecoms.com/images/stories/Features/M-Pesa-user-africa-600.jpg) Details John Tanner Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 07 February 2025 15492 views M-Pesa Safaricom said on Thursday it is partnering with Dashen Bank and CashGo to launch a new international remittance service in Ethiopia that enables users to receive money from abroad directly into their M-Pesa mobile wallets. ![Oppo apologises to Thai users over pre-installed loan apps](https://developingtelecoms.com/images/stories/Places/Phuket_Wat_Mongkolnimi_600.jpg) Details John Tanner Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 20 January 2025 10037 views Chinese handset maker Oppo has reportedly apologised to customers in Thailand after admitting to the telecoms regulator that its devices came with pre-installed loan apps that had not been approved by the Bank of Thailand (BOT). ![Mukuru launches mobile wallet service in Zimbabwe](https://developingtelecoms.com/images/stories/Places/Harare_secondst_600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 14 January 2025 12369 views Financial services platform Mukuru says it has launched a mobile wallet in Zimbabwe called Mukuru Wallet. This follows Mukuru’s award of a Deposit-Taking Microfinance Institution (DTMFI) licence in the country by the Reserve Bank of Zimbabwe. ![Could PPI changes boost the digital payment ecosystem in India?](https://developingtelecoms.com/images/stories/Places/India_Mysore_Palace_2018.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 31 December 2024 16058 views The Reserve Bank of India (RBI) has enabled prepaid payment instruments (PPIs) to make unified payments interface (UPI) transactions via third-party mobile applications, a concept that may sound arcane on first glance, but one that could speed up the money transfer process in India. ![Safaricom Ethiopia boosts services and coverage](https://developingtelecoms.com/images/stories/Company_Logos/m-pesa-600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 31 December 2024 17626 views While it’s been a holiday season in many parts of the world, it’s been a busy week for Safaricom Ethiopia – at least in terms of significant announcements involving M-Pesa services and coverage growth. ![PalmPay and Jumia offer new payment option for Nigerian shoppers](https://developingtelecoms.com/images/stories/NewsPix/PalmPay-and-Jumia_231224.jpg) Managing Director, PalmPay, Chika Nwosu with Sunil Natraj, CEO, Jumia Nigeria, at the recent press conference to announce the PalmPay / Jumia partnership Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 23 December 2024 15774 views PalmPay, the Africa-focused fintech operating Nigeria’s most used mobile wallet, and Jumia, Africa’s e-commerce giant, have announced a strategic partnership to enhance the digital payment ecosystem on the continent, starting with payment integrations and co-marketing efforts in Nigeria.