Kiffmeister’s FinTech Daily Digest (06/28/2020)

Kenya’s central bank extends mobile payments relief by six months
The Central Bank of Kenya extended the mobile money COVID-19 relief measures introduced in March by a further six months. The central bank also tweeted that before the COVID-19 crisis, 88% of Kenyan transactions by number (50% by value) were being conducted outside bank branches. In the pandemic period, 94% are being conducted outside branches. Before, 44% of transactions were being transacted on mobile phones. Now, 61% are on mobile.

Zimbabwe has banned all mobile money services as its currency troubles worsen
Mobile money platforms have been banned in Zimbabwe as the country’s local currency continues to lose value, with authorities desperately hoping to arrest the decline. But the move has left subscribers and users stranded in an economy which sees a huge portion of transactions flow through mobile money platforms due to long-term cash shortages at the banks.

Posted from Diigo: