
Mobile phones to make money transfers
Payments, m-banking and money transfer company, Boom Financial, is partnering with the World Council of Credit Unions (WOCCU) to provide Boom mobile-banking services via credit unions in the developing world (view press release). The Boom mobile money service allows consumers to use their mobile phones to make domestic and international money transfers and payments via text messages. Members can also make purchases and withdrawals at participating Boom merchants and at Boom ATMs in around 150 countries.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more