MasterCard and BANSEFI, the social bank of Mexico, announced a partnership to foster financial inclusion in Mexico through the disbursement of social benefits using electronic payments. The BANSEFI MÁS MasterCard-branded card is part of the recently launched social support program developed by the Mexican Government. Through this partnership, over 6.5 million beneficiaries will have access
Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions, has announced its first customer in Indonesia. The company, together with PT Infogram Telemedia as Compass Plus’ distributor for Indonesia, has completed an e-channel switching project for Bank Tabungan Pensiunan Nasional (BTPN). BTPN, Indonesia’s leading commercial bank, chose
With Nigeria having recently eclipsed South Africa as the continent’s biggest economy, it is worth taking a look the nation’s progress from the perspective of a service which is indispensable to the modern way of life – electronic payments. And electronic payments, in turn, depend on suitable telecommunications and banking infrastructure. The pace of change
Kopo Kopo, a leading provider of business management software with over 10,000 clients in Kenya, has announced its new merchant cash advance service called “Grow.” Unlike a traditional bank loan, Grow is designed to help businesses grow and prosper by accommodating their cash flow cycles. Grow cash advances are disbursed in minutes, require no personal
As government, NGO and business leaders gather at the Financial Inclusion 2020 Global Forum in London, MasterCard president and CEO Ajay Banga emphasized the central role electronic payments play for advancing financial access. “Today’s payments technology – prepaid and mobile coupled with biometrics – brings millions of people access to financial tools for the first
Mr Seth Terkper, Minister for Finance and Economic Planning in Ghana, has stressed the need to improve confidence in electronic payments systems and infrastructure and to encourage the patronage of alternative payments systems. Mr Terkper said effective payments systems were necessary for the effective implementation of monetary and fiscal policies as well as for financial
