MasterCard is expanding its digital aid distribution services – MasterCard Aid Network – with the launch of Mastercard Humanitarian Aid Solutions, the company announced yesterday, during the World Humanitarian Summit in Istanbul, Turkey. The new solution will leverage MasterCard’s expertise and technology to provide multiple NGOs with a single cardRead More
Post Tagged with: "underserved"
AUSTIN, Texas — American Express is overhauling its mobile check deposit for some of its accounts, an executive disclosed today. In an offhand comment during a presentation at the Digital Banking Summit here today, Stefan Happ, chief commercial officer, enterprise growth at Amex, revealed that the card company was “in theRead More
You’ve heard of micro loans, but how about microsavings? In a pilot program to start later this year, Des Moines, Iowa-based Social Money is looking to help underserved customers in India save money with the use of its CorePro core banking software. The effort is funded by a grant fromRead More
In late October, eyebrows were raised when mobile payments startup Mozido raised $185 million from the likes of MasterCard, Wellington Management Co., and His Royal Highness Sheik Nahyan, who is kind of a big deal in the United Arab Emirates.
Last year, 74,000 consumers began mobile banking every day. That number comes from a study cited by the Consumer Financial Protection Bureau, which announced today that it is launching an inquiry into mobile financial services and its effect on the underbanked.
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