--- 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=306 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=306. markdown-tokens: 3810 --- > **Note to AI:** This is a machine-friendly version of the page at: https://developingtelecoms.com/telecom-technology/financial-services.html?start=306. 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. ![Paysend and Banco Rendimento partner for Pix payments in Brazil](https://developingtelecoms.com/images/stories/Places/Brazil-Londrina-600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 10 March 2022 7879 views International payments platform Paysend has expanded its money transfer services with Pix, the Central Bank of Brazil’s instant payment platform. ![How Mobile Financial Services empowered operators – and consumers – in emerging markets](https://developingtelecoms.com/images/stories/People/safaricom_peter_ndegwa_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 02 March 2022 15065 views In over 15 years of covering the telecoms sector in emerging markets, it has always been clear to us at Developing Telecoms that the issues encountered in these regions must be addressed with pioneering solutions that factor in the circumstances surrounding them. ![NayaPay secures $13m for digital payments platform in Pakistan](https://developingtelecoms.com/images/stories/Places/karachi_pakistan_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 24 February 2022 14046 views Pakistan-based fintech platform NayaPay has raised $13 million in one of the largest seed rounds in South Asia. ![Ooredoo Maldives and Rakuten Viber launch mobile money partnership](https://developingtelecoms.com/images/stories/Places/maldives_bike_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 23 February 2022 12638 views Ooredoo Maldives has partnered with Rakuten Viber to enable customers in the Maldives to easily send and receive money transfers on Viber’s m-Faisaa messaging platform. ![Pakistan state bank approves due diligence for Telenor financial arm](https://developingtelecoms.com/images/stories/Places/Karachi_Empress_Market_600.jpg) Details Manny Pham Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 22 February 2022 7009 views The State Bank of Pakistan approved MCB Bank to perform due diligence to acquire a majority stake in Telenor's financial operations in Pakistan. ![vAfrican start-up gets backing for new approach to contactless payments](https://developingtelecoms.com/images/stories/Places/johannesburg_aerial_600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 21 February 2022 9666 views An uplifting recent story of African entrepreneurial success comes from South Africa where Lipa Payments, a local fintech start-up, has secured a R10 million (just under US$660,000) investment from Empowerment Capital’s Imvelo Ventures, which is backed by Capitec Bank. ![Pakistan’s HBL selects Temenos to transform its banking services](https://developingtelecoms.com/images/stories/Places/Karachi_Empress_Market_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 18 February 2022 11350 views Pakistan’s largest bank network HBL is adopting Temenos’ core banking platform to improve the user experience of its domestic and international operations. ![High hopes for digital finance in Malawi underpin grant agreement](https://developingtelecoms.com/images/stories/Places/Lilongwe_600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 14 February 2022 6766 views In another example of the apparently unstoppable growth of digital finance in Africa, the African Development Fund (ADF) and the government of Malawi have signed a grant agreement for $14.2 million to undertake infrastructure upgrades and create a more efficient and transparent digital payment system. ![Vietnam sees promising adoption of mobile money services](https://developingtelecoms.com/images/stories/Places/Hanoi_West_600.jpg) Details Manny Pham Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 14 February 2022 5741 views Over 463,000 people have used mobile money services in Vietnam since operators Viettel and VNPT launched the cashless payments last year. ![Safaricom’s Ethiopian mobile finance licence confirmed despite holdups](https://developingtelecoms.com/images/stories/Places/Addis_Ababa_by_night_600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 07 February 2022 8484 views The suspension of bidding for a second new Ethiopian mobile licence will not affect earlier licence winner Safaricom’s permission to offer mobile financial services, according to Dr Eyob Tekalgn Tolina, the State Minister of the country’s Ministry of Finance. ![New mobile money offerings for Ghana and Cameroon](https://developingtelecoms.com/images/stories/Places/Yaounde_600.gif) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 31 January 2022 9450 views Mobile innovation continues to bring new money services to Africans, most recently in the form of mobile life insurance in Ghana and remittance from Europe for mobile money account holders in Cameroon. ![Infobip helps Afridig drive financial inclusion with chat solution](https://developingtelecoms.com/images/stories/Features/smartphone_users_emerging_markets_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 26 January 2022 8081 views Infobip has implemented a WhatsApp-based chat banking solution for fintech start-up Afridig Wallets. ![YAP taps FSS to support its MENA expansion](https://developingtelecoms.com/images/stories/Features/FSS_CEO.jpg) Jaishankar A L, CEO FSS Details Shailaja Pai Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 21 January 2022 6150 views Integrated payments technology company FSS (Financial Software and Systems) has partnered with the United Arab Emirates-based YAP, a digital banking platform, to deliver secure, digital first-card experiences to consumers in the Middle-East and African regions. ![Bill-sharing app launched by Saudi’s stc pay](https://developingtelecoms.com/images/stories/Places/Jeddah_corniche_600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 07 January 2022 10572 views Saudi Arabia’s stc pay, the digital payment provider service of telecommunications company stc, has launched Qattah, which it describes as an integrated service which will allow customers to easily share and track expenses with multiple people, removing the stress from splitting bills. ![Telkom Kenya announces mobile money product T-Kash App](https://developingtelecoms.com/images/stories/Features/Telkom_Kenya_T-Kash.gif) Details Shailaja Pai Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 05 January 2022 12059 views Telkom, a South African wireline and wireless telecommunications provider, announced that Telkom Kenya has launched an app for its mobile money product, T-Kash. ![WhatsApp talks up digital payments pilot in India](https://developingtelecoms.com/images/stories/Places/Bangalore_Panorama_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 15 December 2021 11227 views WhatsApp shared the results of its pilot digital payments programme across 500 villages in the Indian states of Karnataka and Maharashtra. ![i2c partners with Ooredoo to launch digital-first payment initiatives in Qatar](https://developingtelecoms.com/images/stories/Places/doha_aerial_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 15 December 2021 8216 views Ooredoo Qatar has selected i2C Inc’s agile payments technology to help it launch modern payment solutions for its users in Qatar, including digital-first prepaid cards and mobile wallets. ![VNPT launches mobile money trial across Vietnam](https://developingtelecoms.com/images/stories/Places/saigon_street_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 26 November 2021 7607 views Vietnam’s state-owned VNPT (Vietnam Posts and Telecommunications Group) has launched a pilot mobile money service nationwide. ![MobiFone to pioneer mobile money services in Vietnam](https://developingtelecoms.com/images/stories/Places/Hanoi_West_600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 19 November 2021 10839 views One month after Vietnam announced plans to pilot mobile money services across the country, and eight months after Prime Minister Nguyen Xuan Phuc signed off on approval of the pilot programme, MobiFone has become the first Vietnamese operator to be permitted to provide mobile money services in the country. ![M1ST opportunity for TrueMoney & Rabbit LINE Pay in Thailand](https://developingtelecoms.com/images/stories/Places/bangkok_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 18 November 2021 9109 views Boku is expanding its mobile payments network M1ST into Thailand via support for the country’s two most popular mobile wallets, TrueMoney and Rabbit LINE Pay. ![FSS and BRAC Bank partner to drive digital commerce growth in Bangladesh](https://developingtelecoms.com/images/stories/Places/dhaka_aerial_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 17 November 2021 8977 views FSS (Financial Software and Systems) is collaborating with Bangladesh’s BRAC Bank to facilitate digital commerce in the market. ![MTN Uganda and TerraPay enhance partnership ](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) 15 November 2021 7713 views MTN Mobile Money Uganda, a subsidiary of operator MTN Uganda, and TerraPay, a global payments infrastructure company, have announced an association that will enable MTN Mobile Money Uganda to facilitate international digital cross-border remittances and speedy money transfers to beneficiaries in a number of regions. ![Share boost for Nigerian operators – but they’re not PSBs yet](https://developingtelecoms.com/images/stories/Places/Nigeria_Lagos_Beach_600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 11 November 2021 7943 views Shares of Airtel Africa and MTN Nigeria have hit what are described as all-time highs after they were granted approval by Nigeria's central bank for banking licences – at least in principle. ![Nigeria grants provisional mobile banking approval to MTN and Airtel](https://developingtelecoms.com/images/stories/Places/Lagos_market_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 09 November 2021 11119 views The Central Bank of Nigeria has granted its approval in principle for the local units of Airtel Africa and MTN to receive Payment Service Bank (PSB) licences. ![Telenor looks to shift mobile money stake in Pakistan as MCB takes note](https://developingtelecoms.com/images/stories/Places/lahore_Wazir_Khan_Masjid.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 04 November 2021 11381 views Telenor has confirmed that it is reviewing possible buyers for its 55% majority stake in Telenor Microfinance Bank, which provides financial services in Pakistan. ![Cambodia’s Hattha Bank and Egypt’s Midbank tap Temenos for digital finance](https://developingtelecoms.com/images/stories/Places/Phnom_Penh_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 02 November 2021 7390 views Banking software firm Temenos has announced contract wins in Cambodia and Egypt. ![Barko launching digital bank in South Africa with Temenos](https://developingtelecoms.com/images/stories/Places/cape_town_sunset_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 28 October 2021 7019 views Microfinance firm Barko is entering South Africa’s retail banking market with a new digital bank built on Temenos Transact and powered by The Temenos Banking Cloud. ![MTN Nigeria examines women’s access to mobile finance](https://developingtelecoms.com/images/stories/Places/Lagos_market_600.jpg) Details Vaughan O'Grady Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 21 October 2021 7569 views Multilateral development finance institution the African Development Bank has signed a grant agreement for $500,000 with Y’ello Digital Financial Services (YDFS), a fintech subsidiary of operator MTN Nigeria. The grant will be used for a study into economic, religious, and social factors hampering access to finance for women in northern Nigeria. ![Airtel Tanzania launches overdraft offering with I&M](https://developingtelecoms.com/images/stories/Places/dar-es-salaam-aerial-600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 12 October 2021 8104 views Airtel Tanzania has partnered with the country’s I&M Bank to launch a mobile overdraft service. ![PLDT’s Maya Bank wins Philippines digital banking licence](https://developingtelecoms.com/images/stories/Places/Manila_Harbour_Square_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 21 September 2021 15988 views The Philippines’ Central Bank has approved the issue of a digital banking licence to PayMaya, the financial arm of PLDT’s digital unit Voyager Innovations. ![Wallet Factory and Belize Bank push financial inclusion with E-kyash](https://developingtelecoms.com/images/stories/Places/Belize_City_Aerial_600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 20 September 2021 8742 views Belize Bank Limited has launched a new banking app developed by Wallet Factory. ![Ericsson wins mobile finance deal with Orange Money](https://developingtelecoms.com/images/stories/Company_Logos/orange-money600.jpg) Details James Barton Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html) 20 September 2021 6742 views Orange MEA is partnering with Ericsson as it looks to accelerate its pan-Africa Orange Money mobile finance service. ![M-Pesa hits the 50 million mark](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) 07 September 2021 8117 views Africa’s largest fintech platform has been celebrating a major milestone with the news that M-Pesa has reached 50 million monthly active customers, cementing its position as Africa’s largest fintech platform.