M-Pesat is one of the most famous fintech in the world. It is a mobile payment system, launched by the Kenyan telecom operator Safaricom, and one of the most successful in Africa, with 17.6 million active users per month, 6 billion transactions recorded last year and a turnover of 235 million euros in the first six months of 2017. This is obviously one example among many others of innovations born in emerging markets and which are beginning to be irrigated in Western economies.
The highly anticipated fintech this year is called Acudaean. She is from the Philippines and won this year’s competition for the best emerging market start-up. It looks at a problem encountered in all countries of the world: payment delays. It addresses the liquidity problem by acting as an intermediary with banks. It obtains the financing that is very often refused to SMEs and then returns it to them. This solves their liquidity problem when they are in need of financing. When the company has finished paying its invoices, Acudéen recovers the amount of the loan, charges a small commission and reimburses the bank.
The desire to make things happen and maximize the impact of their project on societies is what brings together entrepreneurs from emerging markets who, in addition, have not been able to benefit from the support and contributions of Western countries.
All aspects of finance are exploited, for example, Undostres (Mexican fintech) allows to digitalize physical payments by offering discount coupons. Talkbank (Russian) is a bank that is accessible via messenger, whatsapp and Chatbot which are in many countries applications used daily. The objective of all these developers is that in the coming years, all these innovations will arrive on the North American and European markets.
Seedstars is surely one of the Fintech that sets an example for others. Created a few years ago, the latter manages the payments of more than 250,000 local merchants in 16 countries in Latin America, Eastern Europe and Asia. It has invested no less than 200 million dollars in these technologies and finances young Fintech entrepreneurs around the world who decide to set up their business and platform. (Such as Zest Money or Creditas).
The most of these star-up editors is that they adapt to particular situations, present in these emerging countries. My Cash Online is a perfect example. This platform was created in Malaysia to meet the financing needs of the 3 million migrants living in the country. Indeed, the latter do not have access to traditional banks and therefore, with the help of this easily accessible application, they can carry out traditional transactions.
These Fintech are trying to respond to the motto “every problem has its solution” by addressing the needs faced by people in emerging countries.
The World Retail Banking Report study of 16,000 consumers from 32 different countries shows that these applications are taking up more and more space in the daily lives of retail bank customers, with 63% of respondents admitting to using these new platforms. (Especially present in emerging countries as mentioned above).
Source : magazine papier les echos du lundi 10 avril