Saturday, 6 June 2015

Payments revolution? Forget Apple – watch Africa

From Banking Technology –

‘ “People don’t care about getting 10 cents off their next Starbucks,” said John Chaplin, chairman at Helios Investment Partners. “I have yet to see anything that works better than a card in face to face transactions. Here in Africa, payments innovation is not just about mobile money, it’s about the way lending is done and deposits are handled. We are seeing some fantastic innovation and that is feeding back into the rest of the world.”

Chaplin is the founder of an organisation called the Global Payments Innovation Jury, which has been meeting biannually since 2007. The non-profit organisation consists of a panel of 40 judges, all of them serving chief executives at financial services companies. They pool their experiences to work out the trends affecting the payments industry and attempt to sift through what is hype and what is significant.’

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