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At a time when western Europe and the US are myopically obsessed with the future of banking, having "Uber moments" and fending off attacks from challengers, other parts of the world are more than happy to use FinTech services that have been around since the mid-2000s and don't require financial institutions at all.
A new report from the telecommunications giant claims that introduction of new services, including a money transfer system, could boost the income of Indian farmers by as much as $9 billion by 2020.
Vodafone will allow customers to sync their bank cards to their Vodafone Wallet and use smartphones to pay for goods and services at contactless terminals, following a deal with Visa and Carta Worldwide.
Weve, owned by Vodafone, EE and O2, abandoned its proposed mobile wallet offering after Apple announced its own mobile payments service.
Next month Vodafone will launch its own mobile wallet service in the UK using a SIM embedded with NFC allowing customers to swipe their phones for payments at contactless tills. A similar service has already been launched in Italy, Germany, Spain and the Netherlands – consumer adoption has met company expectations so far.
The M-Pesa mobile money transfer system, which allows clients to send cash with their telephones and has transformed how business is done in east Africa, is now expanding into Romania.
Vodafone and Visa have launched the Vodafone Wallet and Visa SmartPass service in the Netherlands, the third European market to see the benefit of the wide-ranging partnership announced by the two companies in 2012.
