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PalmPay and Jumia Join Forces to Revolutionize Nigeria’s Digital Payment Ecosystem
Jumia has integrated PalmPay, enabling users to pay seamlessly with their PalmPay wallet, enhancing transaction reliability and promoting digital payments across Africa. To celebrate this collaboration, they are launching a Christmas campaign from December 11 to 30, where customers using PalmPay can win cash rewards. This partnership offers seamless transactions, increased convenience, and encourages cashless transactions. Sofia Zab, Chief Marketing Officer of PalmPay, highlighted their commitment to improving the online shopping experience, while Jumia’s CEO, Sunil Natraj, emphasized their focus on providing reliable and secure shopping, enhancing access to affordable goods through digital payments.
Essential Tips from US Agencies to Combat Elder Financial Exploitation
Elder financial exploitation has become a pressing issue as the senior population grows, with around 1 in 10 older adults affected annually. This form of abuse includes fraud, scams, and theft, leading to significant financial losses. To combat this, US agencies like the Consumer Financial Protection Bureau and the Administration for Community Living offer guidance and resources. Recommendations include educating seniors about scams, monitoring finances, discussing financial matters with trusted individuals, and reporting suspicious activities. Organizations such as the National Council on Aging and AARP provide additional support to help protect older adults from financial abuse and ensure their security.
Visa Boosts Growth in Nigeria with Strategic Investment in Moniepoint
Visa has announced a strategic investment in Nigerian fintech company Moniepoint to enhance digital payment solutions and promote financial inclusion in Africa. This partnership aims to expand Moniepoint’s offerings, increase access to financial services for underserved populations, and support local entrepreneurs through resources and technology. With Nigeria’s rapidly growing digital economy, the collaboration is expected to boost economic growth, empower consumers, and encourage financial literacy initiatives. Overall, Visa’s investment represents a significant advancement for Nigeria’s fintech landscape, fostering innovation and accessibility in digital payments for all.
Finextra’s 2023 Year in Review: Key Insights and Highlights from the Financial Sector
In 2024, significant changes are unfolding in the banking and payment sectors. HSBC plans to launch a global currency conversion app to compete with Wise, while Temenos faces a sharp decline in shares due to a critical report on accounting issues. The Monzo mafia is exploring generative AI, and Lloyds Bank is cutting risk management staff. Visa and Apple have introduced new digital products and features to enhance transactions. A global Microsoft outage impacted banks, and Switzerland launched an instant payments system. Citigroup’s COO is under scrutiny for compliance failures, while Barclays considers divesting its merchant acquiring business. The European Payment Initiative’s wero wallet has gained traction with 14 million users.
Asia Set to Lead the Global Fintech Revolution: Insights from Latest Report
A report by Singapore’s UnaFinancial reveals that fintech transactions in Asia surged to $16.8 trillion in 2024, up $2.1 trillion from the previous year. The Asian fintech market is projected to reach $18.9 trillion by 2025, growing at 12.6% annually. Asia will account for 47.1% of the global fintech market, expected to hit $40.1 trillion this year. Key growth drivers include the rise of digital banking, smartphone adoption, super-apps, and supportive government initiatives. The digital payments sector is anticipated to contribute 45% to this growth, surpassing the global average of 32%.
Pomelo Revolutionizes Finance: Merging US Consumer Credit with Seamless International Transfers to the Philippines
Pomelo is transforming the financial landscape by merging US consumer credit with international money transfers, specifically for the Philippines. This innovative fintech platform allows users to leverage their credit for seamless and speedy transactions, featuring a user-friendly interface. Advantages include cost-effective solutions with competitive rates, secure transactions, and mobile accessibility. To get started, users can create an account, link their credit card, and easily transfer funds. Pomelo is set to become a preferred choice for those sending money to the Philippines, emphasizing convenience and efficiency in financial management. For further insights, visit Money Transfer Comparison.