In this issue:
HOW DIGITAL FINANCIAL SERVICES AND E-COMMERCE CAN HELP CURB THE IMPACT OF COVID-19 ON PEOPLE’S LIVELIHOODS
Countries across the world have imposed unprecedented restrictions on mobility and social interaction to combat the spread of COVID-19. Indonesia is no exception. In April, the government of Indonesia announced the enactment of large-scale social distancing regulations (Pembatasan Sosial Berskala Besar, PSBB) and banned travel for the upcoming Eid holiday, when tens of millions of Indonesians typically return to their home villages to celebrate with family.
MASTERCARD MAKES MASSIVE FINANCIAL INCLUSION PLEDGE
Mastercard has expanded its worldwide commitment to financial inclusion by pledging to bring a total of 1 billion people and 50 million micro and small businesses into the digital economy by 2025. Driven by the Covid-19 crisis, the strategy will include a direct focus on providing 25 million women entrepreneurs with solutions that can help them grow their businesses.
MAMO PAY, A DUBAI FINTECH FOUNDED BY FORMER GOOGLE EMPLOYEES RAISES $1.5 MILLION TO REVOLUTIONIZE P2P PAYMENTS IN THE REGION
Dubai-based fintech Mamo Pay has raised $1.5 million in a seed funding round led by Global Founders Capital (a global VC with 15 offices across the world) with the participation of Global Ventures, VentureSouq, MSA Capital, Dubai Angel Investors, 500 Startups, and some angel investors, the startup told MENAbytes today.
PROGRAMMABLE FINTECH PAYMENTS STARTUP SILA RAISES $7.7M SEED TO WIPE OUT ACH
Fintech is white hot these days, with major acquisitions and funding rounds galore. It’s also a relatively new space, with startups only really breaching the thicket of regulations that defines the modern banking and finance world in the past few years.
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