Stitch, a payments infrastructure company, recently acquired in-person payments provider ExiPay, expanding its enterprise payments offering to encompass both online and in-person payments through a single, unified platform. Despite the continued growth of e-commerce, in South Africa in 2024, just 6% of retail transactions took place online, projected to reach 10% in 2025. An increasing
Paymob, the leading financial services enabler in MENA-P, announces it has been granted the Retail Payment Services License by the Central Bank of the UAE (CBUAE) after successfully meeting all regulatory conditions and requirements through a rigorous approval process. The license authorizes Paymob to offer merchant acquiring, payment aggregation services, and domestic fund transfers within
Malek Ferdi, Senior Director Africa Diebold Nixdorf Banks in Africa While the African banking sector has regularly demonstrated its resilience, it still needs to address the issues of inclusivity and sustainability in its various territories to cement its transformation in favour of citizens, entrepreneurs and communities. In search of new challenges, African banks must be
South Africa is set to host the Finance in Common Summit (FiCS) in February 2025, marking a transformative milestone in the continent’s development finance narrative. This historic occasion coincides with South Africa’s assumption of the Presidency of the Group of 20 (G20), amid a period of significant political change and growing economic confidence. FiCS 2025,
Banks around the world are rushing to upgrade legacy systems, placing them at a significant disadvantage when they are already challenged by neo-banks that have none of the same infrastructural baggage. However, as RFPs mount up, the C-suites have been warned not to adopt a core migration strategy that could come back to bite them.
Apaya, a commerce automation platform, entered into a strategic partnership with MENA’s online payment gateway Telr to accelerate digital commerce growth in the region. The collaboration will allow merchants to instantly access Telr’s payment services through Apaya’s no-code platform, according to a press release. They will also leverage Telr’s anti-fraud engine alongside Apaya’s intelligent routing
IFC and BNI Madagascar today announced a partnership to expand access to local currency financing for smaller businesses in Madagascar, including women-led businesses, helping them grow and create jobs. Under the partnership, IFC will provide BNI Madagascar, one of the country’s largest financial service providers, with a $30 million equivalent loan in Malagasy Ariary for
Access the webinar here How can banks stay ahead in a rapidly changing industry? In just 30 minutes, Stanchion Payment Solution’s on-demand webinar, The Future of Banking – Platformication and Payment Fabric, explores how financial institutions are tackling emerging priorities through innovative technologies and smarter strategies. Drawing on IDC research with 150 banks, we unpack
Bidvest Bank is being sold to Nigerian-based Access Bank, which is set to expand the latter’s operations in South Africa substantially. In December 2024, JSE-listed Bidvest announced that it would dispose of 100% of Bidvest Bank Holdings Limited to Access Bank plc. Bidvest is expected to raise R2.8 billion from the sale, which will then
Mukuru has launched a mobile wallet in Zimbabwe called Mukuru Wallet. The secure digital store of value follows Mukuru’s award of a Deposit-Taking Microfinance Institution (DTMFI) licence in Zimbabwe by the Reserve Bank of Zimbabwe. Building on Mukuru’s trusted capabilities, which support more than three-million Zimbabwean customers, the wallet has several benefits, including its standout
