Sentences with phrase «either unbanked»

Impact investors invest in things such as the redevelopment of distressed land and financial services for the unbanked — which have the potential to generate value.

One of those services is Ecosave, which allows otherwise «unbanked» people to safely put away money for emergencies.

«The vast majority of the population is unbanked and trapped in cash,» says Kathleen McGowan, senior policy advisor with the Washington - based U.S. Agency for International Development.

Today, however, anyone in the world can buy Bitcoin — including unbanked peoples ranging from Afghanistan to Zimbabwe who have never had access to capital markets before.

According to the company, Indians opened more than 200 million new bank accounts in the past several years, although there is still a large percentage of citizens who are considered unbanked.

After all, technology is bringing financial services to unbanked corners of the world and allowing consumers to pay for goods using just their smartphones.

Though the philanthropy under Bill Gates» name has partnered with cryptocurrency firm Ripple in a bid to help the unbanked, the world's second richest man said Tuesday that the main feature of Bitcoin and its ilk is not a «good thing.»

This focus on serving unbanked communities may also shed light on a deal announced today between PayPal and M - Pesa, a mobile money service based in Kenya.

The World Bank reported that 700 million people opened bank accounts globally between 2011 and 2014 — making them more likely to use financial technology — and about 2 billion more people remained unbanked, representing huge growth potential.

But the time has come to refine that information and create opportunities for banked and unbanked consumers alike.

There are machine learning applications like RecargaPay, the mobile wallet focused on financial services for the unbanked, that enable the consumer's ability to self - serve thanks to digital capabilities.

Reducing India's unbanked may be one of the country's Prime Minister Narendra Modi's biggest achievements yet.

Of the unbanked, 90 % have a mobile phone (73 % of those are smartphones), but only half currently use mobile banking and mobile payments.

The Federal Reserve report also revealed a huge opportunity for the unbanked population.

Mobile is contributing to economic and social development across the globe, delivering financial inclusion to unbanked populations with 270 live services in 90 countries as of December 2015 according to GSMA Mobile Economy Report.

«There is no way the federal government is going to allow an economy as large as California to remain unbanked on this issue.

This could accelerate mobile money's rollout and give a huge portion of the world's two billion unbanked access to financial services.

Section 7 further instructs the FDIC to consider several factors when conducting the surveys, including estimating the size and worth of the unbanked market in the United States and identifying the primary issues that prevent unbanked individuals from establishing conventional accounts.

L. 109 — 173) calls for the FDIC to conduct ongoing surveys, «on efforts by insured depository institutions to bring those individuals and families who have rarely, if ever, held a checking account, a savings account or other type of transaction or check cashing account at an insured depository institution [«unbanked»] into the conventional finance system.»

«How many unbanked people have we banked?»

The report notes that the largest opportunities are in regions with a large unbanked population that is young and likely to embrace mobile banking.

Mobile banking is also an effective tool to reach unbanked populations — particularly in emerging markets — who may not have access to brick - and - mortar branches.

The research found that new digital innovations in banking could bring significant cost reductions for global banks, alongside increased customer satisfaction and financial inclusion for unbanked populations in emerging markets.

Some were due to the large number of unbanked or underbanked populations of countries.

Payments via mobile phones are one of the few methods of digital payments accessible for the unbanked.

Like many other places around the world, digital currency startups think Bitcoin's payment network could help the country's unbanked transact globally and online.

The service is available in 180 countries and has eye for the unbanked market.

As they start accumulating a transaction history on the BanQu blockchain, the unbanked also develop a tractable, vetted financial and personal history.

But the country's large population is still mostly unbanked and relies heavily on money from abroad.

This economic Identity provides a baseline for the unbanked to participate in the global economy.

By using mobile minutes as a currency, Namibia's unbanked are able to quickly pay for electricity in times of trouble through text messages.

But like many emerging markets, the country has an inadequate banking system and a large unbanked population.

Supported by both Buterin and Wood, and sporting the motto «unbank the bank,» OmiseGO is Thailand - based Omise's blockchain project enabling «real - time, peer - to - peer value exchange and payment services» via an agnostic, all - in - one financial clearing house and liqduity provider.

We are a global community working to expand access to financial services for the world's unbanked billions.

A new program from PayPal is aimed at banking for the unbanked, helping them to become «first class citizens» in a digital economy.

«We see Southeast Asia as a region with huge growth potential for WeLab due to its high percentage of unbanked population (73 % out of 600 million) which makes it impossible to borrow and its high mobile penetration rate (133 %),» said Loong.

With checking and savings account services the unbanked will have the ability to apply for credit and other kinds of financial services.

With this new application, GOLD has developed the killer app for the unbanked.

I was absorbed by the potential to provide financial services to the $ 2.5 bn unbanked while also working with a far more efficient payment system.

This segment of the sector population commonly referred to as the «unbanked.»

There is a growing need for the unbanked to handle mobile payments and other financial services.

What do you think will be the benefits brought by an app like GOLD to the unbanked populations in underdeveloped countries?

All this can change with virtual currency, as it provides an alternative option for the unbanked.

As the founder wants to find a way to scale bitcoin to the masses and facilitate adoption throughout India, many believe that this isn't an achievable goal, considering the fact that over 50 % of India's population is currently unbanked.

Accenture estimates that banks could generate up to $ 380 billion in annual revenues by closing the small - business credit gap and bringing the unbanked and underbanked adults into the formal financial system.

India is home to 21 percent of the world's unbanked population, according to World Bank research.

While China still is the dominant force behind the success that bitcoin has had in Asia, India's influence may just help the digital currency hit new heights, especially if adopted by the country's, highly unbanked population.

In 2015, the authority issued 21 banking licenses to companies wishing to leverage technology to provide financial services to the unbanked and underbanked.

In addition to cross-border payments, many see Bitcoin as a solution for the unbanked.

Once this work is complete, the «last mile» problem of getting cash from digital payments into the hands of the unbanked will begin to be solved, and sending money to anyone, anywhere in the world will be as easy and inexpensive as sending a text message.