There are between 60 million and 100 million cash-preferring consumers in the U.S. That’s about the population of the nation’s four largest states – California, Texas, New York and Florida – combined. In April, the Federal Reserve released a paper called the “Diary of Consumer Payment Choice” (DCPC) that featuredRead More
Post Tagged with: "unbanked"
Mobile banking is not just for the wealthy — far from it. A report from the Federal Deposit Insurance Corporation released today says just the opposite: the underbanked are greater users of mobile banking services than those with higher incomes. But the underbanked often rely too much on their mobileRead More
MasterCard announced a partnership with alternative scoring startup Entrepreneurial Finance Labs (EFL) earlier this week. The deal did not involve the payments giant taking an ownership stake. EFL offers credit providers in developing markets with sophisticated tools to improve underwriting for small business loans. Co-founder and COO DJ DiDonna ofRead More
Traditionally, if you wanted to move money around, save cash, pay a bill, purchase something at a store, or otherwise have some sort of systemic access to your cash as you moved around – you needed a “bank”. In fact, you couldn’t do any of these things in the past without a bank. Despite the […]
WASHINGTON, D.C. — Equifax and Chexar see opportunity for FIs among the underbanked. Credit-reporting agency Equifax introduced a new product at BAI Retail Delivery this week called Insight Score for Retail Banking that leverages its data on 25 million so-called “unscoreable” customers with no traditional credit history. The product providesRead More
Concern about those who have been left behind in receiving financial services (“the unbanked” and “the underbanked” ) have been popular topics of conversation amongst bankers and regulators over the past few years. An important …
With SAP celebrating the big 4-0 this year, one of the world’s largest enterprise software providers received a wonderful birthday present: substantial growth within its SAP Financial Services unit last quarter.
Video of Mandy Lamb, South African Country Manager, from London 2012 Olympic games celebrating Visa’s 26 years of sponsoring the world event. She also shares in detail her perspective on the future of payment technology, including mobile and digital wallets and discusses key factors shaping the landscape for the payments industry in South Africa.