Tag: mobile banking

‘Pay With a Selfie’ another mobile service to be launched by e-commerce giant Alibaba

Business, Internet, Mobile, social media
Chinese tech and e-commerce giant Alibaba is developing facial recognition technology which allow consumers to pay by taking a selfie. Reports Conor Gaffey of Newsweek The software, called Smile to Pay, was unveiled on Sunday evening by Alibaba founder Jack Ma at a German technology conference. Ma demonstrated the technology by taking a photo of his face to purchase a 1948 Hannover stamp from Alibaba’s website, according to the South China Morning Post. He said that the product would avoid problems of security and forgotten passwords often associated with online payments. “[Using] online payments to buy things is always a big headache," he said. “You forget your password, you worry about security, today we'll show you a new technology, how people in the future will buy things onlin

Kenya and 8 other Sub-Saharan countries in Africa boast of more mobile money accounts than bank accounts

Business, Mobile
Reports by IPC Weekly Datashots - Highlights which speak to the incredible growth which is happening in Africa today, as well as the potential for future growth. As of June 2013, 98 million (48%) of the 203 million registered mobile money accounts globally were in Sub-Saharan Africa (SSA) - East Africa holding the lion's share of SSA’s total and accounting for 34% of the global total. In addition, 9 African countries including Kenya, Tanzania and Cameroon have more mobile money accounts than bank accounts - championing financial inclusion by providing financial services to more people than traditional banks have been able to reach. As of the end of 2013, there were 219 mobile money services globally (233 as of April 2014) and SSA is home to 52% of them. At the top of mobile money provide