Hong Kong-based HKT Financial Services, the Fintech division of the HKT Group, has launched another Fintech project, HKT Flexi, a digital or online financing platform that allows users to make payments via the HKT Flexi App.

Payment companies have reported a surge in digital transactions for buying essential goods since the lockdown began, and more and more fintechs are now working with mom-and-pop stores to enable them to transact digitally.

As part of measures to cushion the impact of the coronavirus pandemic, the Chief Executive Officer of FirstBank Nigeria, Dr. Adesola Adeduntan, has disclosed that banks are currently offering customers access to low interest funds.

While the COVID-19 pandemic has increased usage of digital payments, there has been an observed increase in attempts at scams and financial crimes.

The transaction will help the company expand its product offerings to small and medium enterprises (SMEs) and is designed to support the economic recovery from the COVID-19 health crisis.

According to the report, cash on delivery was the leading payment method preferred by online shoppers in Saudi Arabia, Jordan, Egypt, Morocco, Kenya, and other countries in this region, as of 2019.

The National Bank of Rwanda has instructed mobile network operators to waive charges on all transfers with bank wallets, person-to-person and merchant fees on payments.

Recent weeks have been all about adapting to the unprecedented and rapidly changing context. 

The launch countries include Russia, Turkey, Thailand, Philippines, Indonesia, Malaysia, and Singapore and alongside carrier billing will also include local e-wallet payment services such as RabbitLinePay, GCash, GoPay, OVO, Dana, GrabPay.

COVID-19 has brought to the forefront the potential for microinsurance in the Bangladesh market, where over 30 percent live below the national poverty line and insurance penetration is extremely low.