Financial inclusion

Mexican payments startup Klar has raised $15 million in a Series A round in an effort to challenge traditional banks by expanding access to debit cards and credit lines.

Both the Federal Deposit Insurance Corp. and the American Bankers Association are encouraging the industry to offer basic products that could bring more unbanked households into the financial mainstream.

In an exclusive interview announcing the regulator's new financial inclusion program, NCUA Chairman Rodney Hood explains why the time was right to double down on the agency's efforts to expand access for marginalized communities.

Many consumers around the world rely on cash-based payments, even when shopping online, says PPRO's Steve Villegas.

A trio of small credit unions designated as minority depository institutions have been matched with larger institutions to improve outreach to low-income and underserved consumers.

Larry Sewell has also pledged to continue a series of industrywide conversations on race relations.

Transfiya, a blockchain-based funds transfer system, is transforming payments in Colombia for the benefit of underbanked and financially excluded consumers.

All parts of the payments industry can preserve cash, but mandates may be necessary, says Moorwand's Luc Geuriane.

With the USPS emerging as an election-year flashpoint, postal banking is an idea that could gain steam. But a number of proposals are out there, and they have wildly varying implications for financial inclusion.

Remitly has added 11 new mobile wallets to its network, almost doubling its reach to 300 million consumers, to meet demands for cash alternatives amid the COVID-19 pandemic.