A subsidiary of MTN Nigeria, Yello Digital Financial Services (YDFS), has secured a licence from the Central Bank of Nigeria to operate financial services in the country.
In Kenya, mobile money is almost synonymous with Safaricom’s M-Pesa. With more than 110,000 M-Pesa agents in the country, the telecom has about 40 times the number of bank ATMs. No other mobile money service has been able to successfully challenge Safaricom’s dominance, but not from a lack of trying.
Everyone wants to do everything on mobile these days, from banking with a simple USSD menu to consulting with their doctor via SMS.
This is an edited version of the TechCabal daily digest for September 20, 2017. Subscribe to get it in your mailbox every day around 7am (WAT).
Recipients can receive money with or without bank accounts
They’re using Point Of Sale (POS) machines, instead of ATMs, for cash withdrawals.