Mobile payments network with 5.7 billion accounts launches

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Boku has announced the launch of the M1ST (aka Mobile First), the “world’s largest mobile payments network”.

M1ST: Mobile payments network 

The M1ST Payments Network features an unrivalled 330+ mobile payment methods, including mobile wallets, direct carrier billing, and real-time payments schemes, reaching 5.7 billion mobile payment accounts in 90 countries – all through a single integration.

1.7 billion consumers have joined the world’s middle class in the past decade, with over 90{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} of the new middle class in emerging markets (Brookings Institute, 2020).

Many of the world’s new middle class in Asia, Latin America, Africa and the Middle

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Latin America embraces biometric payment cards as FinTech booms

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In June 2021, BBVA Mexico became the first bank in Latin America to announce the rollout of biometric payment cards. Following launches in card-loving France and Switzerland, the world has been favourably surprised to see Mexico as next to launch.

Latin America has made itself known in the FinTech world in recent years. It has become one of the world’s most active regions for the industry, with over half a billion US dollars raised for FinTech start-ups in H1 2020 – writes Gilles P. Roux, Head of Payments Business Americas at Fingerprints .

Now the region has strong ambitions

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BNPL and mobile set to push global e-commerce value to $6 trillion

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The retail e-commerce market is estimated to grow by 53{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} globally by 2024, with the Buy Now Pay Later (BNPL) sector expected to see the second-largest increase in market share, second only to mobile and digital wallets.

The latest figures show that the current size of the retail e-commerce market is $3.914 trillion (£2.833 trillion), having seen a 70{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} increase in just four years and now accounting for 16.8{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} of all retail sales.

While the annual rate of growth has slowed in recent years, the report estimates that the value of the e-commerce retail market will continue to climb by

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How does the OECD’s CRS effect mobile money providers

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Adopted in 2014, the CRS’s purpose is to combat tax evasion – not just in mobile money.

How does the OECD’s CRS effect mobile money

The Organisation for Economic Co-operation and Development’s (OECD) Common Reporting Standard (CRS) is an information standard for the Automatic Exchange Of Information (AEOI) regarding financial accounts between tax authorities globally.

It calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis.

It sets out the financial account information to be exchanged, the financial institutions required to report, the different types of accounts

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