The trend of banks collaborating with fintech firms is driving financial inclusion in Africa, according to an op-ed in ITWeb. By offering incentives for people to keep funds in digital wallets, the adoption of digital payments could rapidly increase and reduce reliance on cash, it said. With many fintech companies lacking the licences to operate independently, banks can offer regulatory support to provide a broader range of services to customers. The article also cited the growth of cross-border remittances, and the success of QR payments in markets such as China.

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