Digital payments company Skrill is launching an online payments platform to drive digital inclusion in emerging markets (EMs).
The company said that by partnering with Skrill, mobile network operators enable consumers to engage with global online electronic commerce (e-commerce), thereby increasing average revenue per user (ARPU). For global online brands, Skrill will deliver access to hundreds of millions of currently unreachable new consumers in EMs.
Skrill named the South African-based multinational mobile telecommunications company MTN as the first operator to roll out the service, enabling the 18.4m active users of MTN’s mobile wallet to make payments to merchants, digital gaming sites and social media. The service will launch in Ivory Coast and Rwanda, followed by roll out across MTN’s Africa-wide estate.
“Today, there are hundreds of millions of consumers who want to be a part of the digital revolution, but simply do not have the means to pay,” said Nilesh Pandya, senior vice president (SVP) of emerging markets at Skrill.
“Our partnership with MTN enables its 18.4m mobile wallet customers to enjoy the benefits of digitisation that those in developed markets take for granted, and provides an impetus for MTN’s remaining 200m mobile subscribers to embrace mobile payments.
Pieter Verkade, MTN group chief commercial officer, said that following the Ivory Coast and Rwanda launches, the service would be extended to Benin and Uganda with other markets to follow in coming months.
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
There are various ways for financial institutions to benefit from advanced technologies and business models provided by FinTech's. Whether a business' approach is radical or incremental, data management can help a company to increase their return on investment, argues André Casterman, INTIX.
Tim de Knegt, strategic finance and treasury manager for the Port of Rotterdam, discusses how he is using blockchain, the challenges he will face in his role of treasury over the next 12 months and the advice he would give to someone starting out their career in treasury.
As the May 25 deadline for Europe’s General Data Protection Regulation (GDPR) inches closer, many treasurers are being lumped with the task of ensuring their wider company is compliant.