Latest news about e money

Here are some of the latest news and updates about e-money:

1. Digital Payments on the Rise

According to a report by the World Bank, the use of digital payments is increasing globally, with 72% of adults in developing countries using digital payments in 2020, up from 47% in 2014. This trend is expected to continue, with the report predicting that digital payments will reach 80% of adults in developing countries by 2025.

2. E-Money Issuance in the EU

The European Union has introduced new regulations for e-money issuance, which came into effect on January 10, 2022. The new rules aim to improve consumer protection and increase transparency in the e-money market.

3. Mobile Money Growth

Mobile money services, such as M-Pesa, have seen significant growth in recent years. According to a report by the GSMA, the number of mobile money accounts worldwide reached 1.2 billion in 2020, up from 500 million in 2015.

4. Cryptocurrencies and E-Money

The rise of cryptocurrencies such as Bitcoin and Ethereum has led to increased interest in the intersection of e-money and cryptocurrencies. Some e-money providers are now offering cryptocurrency-based services, such as buying and selling cryptocurrencies.

5. E-Money and Financial Inclusion

E-money has been hailed as a key tool for financial inclusion, particularly in developing countries where traditional banking services may be limited. A report by the World Bank found that e-money can increase financial inclusion by up to 20%.

6. E-Money and Remittances

E-money is also being used to facilitate international remittances, which are a significant source of income for many developing countries. According to the World Bank, e-money remittances can be up to 50% cheaper than traditional remittance services.

7. E-Money and Fintech

The e-money industry is also being driven by fintech innovation, with new companies and startups emerging to offer e-money services. This has led to increased competition and innovation in the market.

8. E-Money and Regulation

Regulation is a key issue in the e-money industry, with governments and regulatory bodies seeking to balance the need for consumer protection with the need for innovation and competition. The European Union's new e-money regulations are just one example of this.

9. E-Money and Security

Security is a major concern in the e-money industry, with companies and regulators seeking to protect consumers from fraud and other types of financial crime. This includes measures such as encryption, two-factor authentication, and regular security audits.

10. E-Money and Sustainability

Finally, there is growing interest in the sustainability of e-money, with companies and regulators seeking to reduce the environmental impact of e-money transactions. This includes measures such as using renewable energy sources and reducing paper usage.

These are just a few of the latest news and updates about e-money. The industry is constantly evolving, and there are many exciting developments and innovations on the horizon.