Monitise to service East Africa
Monitise PLC revealed it has been awarded $1.5 million (R15 million) by the Africa Enterprise Challenge Fund to extend its mobile banking and payments service to East Africa, reports American Banker.
Monitise, a British specialist in mobile banking technology, said its Monitise East Africa unit plans to offer services first in Uganda and then to expand into Burundi, the Democratic Republic of Congo, Ethiopia, Kenya, Rwanda, Tanzania, and Zambia.
The unit will enable services by banks and mobile networks alike, and adheres to the regulatory framework of each market, Monitise said.
Cambodia's bank tech investments to slow
Leaders in Cambodia's IT industry expect the global financial crisis will slow investment in the country's banking technology, but are optimistic the sector is well-positioned for an eventual recovery, states The Phnom Pen Post.
"Had it not been for the world economic downturn, we would be expecting rapid development of banking technology - because that is always the case when one starts from behind," said Chum Sirath, MD of Net I Solutions, a local IT firm.
Sirath added that because services such as mobile banking and ATMs were new to the country, local banks could install cutting-edge systems immediately without having to perform costly upgrades on outdated technology.
Visa, GSMA collaborate
Visa Europe and Visa plan to work with the GSMA to advance the delivery of mobile financial services around the world, writes Banking Technology.
As part of the continuing collaboration between the two organisations, the GSMA has selected Visa as a provider for mobile money transfer solutions globally, and is working to execute an agreement to formalise participation terms.
Visa is already a provider of money transfer solutions with active programmes in 14 countries in Europe, the Middle East and Asia.
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