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OFFICIAL LAUNCH: TagPay Inc. opens its first LatAm branch in Bogota, Colombia

TagPay Inc. has officially opened its first Latin American branch in Bogota, Colombia.

With clients in Peru, Haiti and Colombia, TagPay Inc. is looking to develop its activity throughout the region.

TagPay's next-generation core banking system is designed to capitalize on all existing mobile phones deployed in a country, in order to securely manage a full range of digital financial services.

The TagPay Inc. Colombia branch was officially launched at the French Ambassador's residence in Bogota on Thursday March 16th.
 

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TAGPAY INC. AT THE 4YFN, MOBILE WORLD CONGRESS BARCELONA

TagPay Inc. will present its mobile-centric Core Banking System at the 4YFN, Mobile World Congress, in Barcelona from February 27th to March 1st. TagPay Inc. provides retail banks cutting edge tools to enter the digital world.

Hosted in the cloud and operating in real-time, the TagPay CBS offers a complete set of digital financial services and manages agent and merchant networks.

TagPay’s Near Sound Data Transfer™ technology uses the audio channel of any mobile phone to make universal contactless payments.

The TagPay CBS powers mobile digital banks in 20+ countries, with a strong footprint in Africa. By capitalizing on mobile phone penetration, and the TagPay CBS, these next-generation banks are building the banking infrastructure of the last mile.

Visit us:
4YFN, Stand 3
Fira Barcelona Montjuïc
Avinguda de la Reina Maria Cristina
Barcelona
www.4yfn.com
 
Contact us:
Estelle Eonnet
Head of Marketing and Business Development
estelle.eonnet@tagpay.fr
www.tagpay.fr

 

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A new perspective on solving the Mobile Money usage problem

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A new perspective on solving the Mobile Money usage problem

User adoption is one of the biggest problems of mobile money deployments in all regions. According to the GSMA, in 2015 there were more than 37 million people performing formal Over The Counter (OTC) transactions, with 67 percent of mobile accounts remaining dormant. While many users perform OTC transactions, the usage issue still remains.
 
OTC transactions can be developed as part of a mobile money strategy for the service provider i.e. Pakistan (formal OTC), or they may be a customer response to the market conditions i.e. Bangladesh (informal OTC).  These conditionsdiffer from each country; according to Financial Inclusion Insights surveys, lack of formal ID, lack of access points and even lack of information on the benefits of wallets are the major barriers in the surveyed countries. However, there are other factors that may explain this behaviour, such as the diversity of the mass market, literacy rates, technological barriers, and the confidence in agents.
 
This paper explains a new model powered by TagPay. It highlights the role of the agent though the proximity technology NSDT, that allows the end-user to perform transactions with his own wallet under the supervision of the agent. The main key of this model is that it has a simplified user experience (similar to card payments) and it can be implemented with a familiar mass market approach (with payment over the counter or with agents, thereby increasing access and usage points).
 
View full document here.

 
 


About the Author: Ana Maria Garcia is a contributing blogger. She is an economist with more than 8 years of experience in Financial Inclusion. She formerly worked at Alliance for Financial Inclusion and the Colombia Banking Association. She is currently sales manager for Latin America at Tagattitude.

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Tagattitude is recognized for its digital banking platform at the Remittance & Mobile Money Expo, in Lagos, Nigeria

We are proud to announce that TagPay has received a Kalahari Award for Best Technology Enabler of Mobile Financial Services in Africa, at the 6th Remittance and Mobile Money Expo, held in Lagos, Nigeria.

The award recognizes TagPay as the best technology enabler platform. With Near Sound Data Transfer Technology at its core, the TagPay platform can turn any mobile device into a payment tool, without changing its hardware or software. Be it a feature phone or a smartphone, the end-client can save, send and spend his money freely, right at his fingertips.

Financial service providers use TagPay to offer financial services directly on their clients’ mobile phones, thanks to a wide variety of channels, including IVR, the web and sound. With this specific channel, there is no need to depend on the USSD channel controlled by mobile network operators to process mobile transactions.

The TagPay digital banking platform manages all of the transactions that a bank needs: P2P money transfer, salary disbursement, bill payment, and transactions at the point of sale. TagPay also manages the entire branchless banking agent network, making it possible to follow and control all operations in real-time from headquarters.

Yves Eonnet, Tagattitude’s CEO, received the award in Lagos, saying that it  “was a great honor. The award recognizes the impact that TagPay’s technology can have in building new financial service ecosystems in Africa. We have built TagPay, bringing the best technology to the table, in order to help financial institutions reach their financial inclusion goals.”

Yves Eonnet presented the case study of the Trust Merchant Bank, in the Democratic Republic of Congo. The Trust Merchant Bank’s mobile financial service, Pepele Mobile, powered by TagPay, helps the bank reach the last mile and bank the vast unbanked populations of the country.

The Kalahari Awards were presented at the 6th Remittance and MobileMoneyExpo in Lagos, Nigeria. Emmanuel Okoegwale, Principal Associate of Mobile Money Expo, oversaw the awards. “We congratulate all of the award winners today and it is our sincere hope that the honor will inspire better innovation in 2016 and beyond,” he said. “MobileMoneyAfrica is proud to be celebrating the 6th Kalahari awards, which celebrates innovative leaders in e-commerce, payments, remittances and mobile financial services.” 

The Kalahari awards are dedicated to acknowledging creativity, commitment and excellence in the digital payments and remittance industry across Africa. The awards are given to organizations that have made significant contributions to the remittance and mobile financial services sector by making financial services more affordable and more available, thereby creating impactful developments in Africa.

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TagPay Field Reports launched during FI2020 Week Event in Paris

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TagPay Field Reports launched during FI2020 Week Event in Paris

For FI2020 Week, spearheaded by Accion's Center for Financial Inclusion, Tagattitude hosted a panel and cocktail event, with partners Raise, Finance Innovation and Poilane. The event brought together 40 decision makers in the banking and payments sector to discuss how digital banking is transforming the financial inclusion landscape in Africa. The event was tweeted live by Ana Maria Garcia and Estelle Eonnet.

During the event, two TagPay Field Report Videos were premiered. They are the first of a series of videos made by the Tagattitude marketing team that explore the way clients set up their digital banking service with the TagPay platform. Every client has a unique strategy that takes into account field constraints, competition, local culture, as well as the companies' DNA.

The first TagPay Field Report Video is about Pepele Mobile, the new digital financial service of the Trust Merchant Bank, the leading retail bank in the Democratic Republic of Congo. With the TagPay digital banking platform, the Trust Merchant Bank is building a disruptive ecosystem with one goal in mind: to bank the 67 million unbanked in the country.

The second TagPay Field Report Video was filmed in Zimbabwe, where inhabitants can now buy pre-paid electricity close to their homes, instead of having to travel long distances to one of the 20 points of sale in the country. Harare-based startup Nettcash is changing the way people manage their money, by offering financial services directly on people's phones.

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Tagattitude to participate in FI2020 Week

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Tagattitude to participate in FI2020 Week

We are pleased to announce that Tagattitude will be hosting an FI2020 Week event, with its partners Finance Innovation and Raise in Paris, France.

The roundtable will discuss digital banking and the financial inclusion landscape in Africa as part of a week of global conversation exploring the most important steps to achieving full financial inclusion.  Please view the program and invitation here.

Partners from around the world are participating in FI2020 Week in order to advance financial inclusion. Full financial inclusion means that anyone can easily have access to financial services, at fair prices, with respect and dignity. Within this vision, financial services are delivered by a range of providers, in a stable, competitive market to financially capable clients.

FI2020 Week will be held from November 2-6, 2015. Overall coordination is led by the Center for Financial Inclusion at Accion (CFI), an action-oriented think tank working toward full global financial inclusion and based in Washington, DC. FI2020 Week aims to build momentum around addressing the most significant gaps in financial inclusion through a week of global conversation.

The roudtable will take place on November 5th from 6PM to 8PM in Paris, France.

Hashtag #FI2020 to follow the global conversation.

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Tagattitude receives International Digital Trophy

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Tagattitude receives International Digital Trophy

We are honoured to have received the International Digital Trophy for TagPay, our digital banking platform. 450 people followed the event. #FrenchTechRI was buzzing on the blogosphere. We have made a small selection of the coverage for you here.

For the 13th edition of the International Digital Trophy, Tagattitude was rewarded for its innovative digital banking platform, as well as for its work in emerging countries.

Myriam Beque, Head of Innovation Development of Retail Banking in France for BNP Paribas, gave the Trophy to Tagattitude, highlighting the company’s originality. “Tagattitude is a FinTech that wants banks to succeed in their digitalization process. It is a FinTech that is not scared to say that it works in partnership with banks.” Instead of competing against banks for market shares in the digital banking space, Tagattitude, with its disruptive technology, helps banks go digital.

Tagattitude’s digital banking platform, TagPay, enables banks to offer financial services directly on the end-users’ mobile phones, without depending on the proprietary channels of the MNOs. New entrants are therefore able to be competitive in the digital financial service landscape and reach people who did not have access to banking services before.

Tagattitude has also developed a sound payment technology, Near Sound Data Transfer™ (NSDT™), that transforms all mobile phones on the market into payment tools, from feature phones to smartphones. NSDT™ is also used to authenticate users, allowing banks to develop their own networks of merchants and agents.

Today, 100% of Tagattitude’s activity is in emerging countries. It has clients in 20 countries, with an important presence in Africa. Thanks to the TagPay platform, neo-banks are born and are transforming the banking sector as we know it.

The International Digital Trophy: to promote the development of innovative startups

The International French Tech Conference, organized by Business France, brings together more than 450 delegates in the French capital. The goal: to promote digital innovation with a global impact.

The IE-Club, in partnership with Business France, organizes the International Digital Trophy to reward and promote startups that will shape tomorrow’s global economy, while reinforcing entrepreneurship and innovation.

 

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Colombia: Time for technological change in the mobile money market

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Colombia: Time for technological change in the mobile money market

Recent public policies to boost financial inclusion in Colombia are showing remarkable results. For example, all municipalities have at least one access point and the number of adults with at least one financial product has increased. Government's commitments lead to the adoption of a National Strategy for Financial Inclusion and opening the mobile money market to non-banking institutions.

In spite of all these changes, the number of dormant accounts still growing and the dominant position of mobile network operators (MNOs) has negatively impact the mobile money market. In order to face dominant position of MNOs, other institutions on the mobile money market (non-MNOs) must use innovative technologies to bring the competence back to the market.

This paper compares the differences of STK (current technology used by most deployment in the country) and NSDT technology which offers independence from MNOs with two factor authentication security.

View full document here.

About the Author: Ana Maria Garcia is a contributing blogger. She is an economist with more than 8 years of experience on Financial Inclusion. She formerly worked at Alliance for Financial Inclusion and the Colombia Banking Association. She is currently sales manager for Latin America at Tagattitude.

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The Future of Banking is being invented in emerging countries

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The Future of Banking is being invented in emerging countries

In the 1970s, had we all had mobile phones in our pockets, we would never have needed smart cards and other banking technologies; the mobile phone would have naturally become our personal banking tool. In emerging countries, 2 billion people have a mobile phone in one pocket, cash in the other, and never have had access to financial services. Their mobile phones will become their bank, right at their fingertips!

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