Last week, Massmart, together with Retail Capital, a division of Tyme Bank, hosted a Business Funding Information session for its Marketplace seller base. The webinar provided these small business owners with key insights about the funding options available to them. The partnership initially began in 2021 and has, since inception, provided significant funding to enable
Trintech, a leading global provider of cloud-based financial close solutions for the Office of the CFO, today announced its acquisition of Frontier™ Reconciliation and Accurate™ Reconciliation from Fiserv, a leading global provider of fintech and payments solutions. Serving customers across multiple verticals including financial services, telecommunications, retail, insurance and utilities, the acquired reconciliation business will
The Bank of Mauritius (Bank) welcomes the decision taken by Standard & Poor’s on the 21st of July 2023 to confirm the “Investment grade” status of Mauritius and the release of a Credit Opinion by Moody’s on 25th July 2023 reviewing upwards the Scorecard-indicated outcome of Mauritius to Baa1-Baa3. On one hand, by allocating a
Ten innovative Southern African start-ups received awards for their solutions to bridge the gap in financial access for underserved communities. The Fintech Challenge was part of the ecosystem development initiatives under the Southern Africa Innovation Bridge Portal supported by the World Bank to crowd-source new and impactful ways to utilise the latest innovations in fintech.
Mukuru, Africa’s leading next-generation fintech provider, has introduced its pioneering Naira bank top-up feature for customers in Nigeria. With this feature, Mukuru has become the first remittance company in Africa to re-introduce Naira payouts directly into bank accounts in Nigeria. In a move that aims to address real-world customer pain points, Mukuru’s Naira bank top-up
Leading African digital payments provider, DPO Pay, registered under One Payment Tanzania Limited, has received approval from the Bank of Tanzania to operate as a Payment Service Provider (PSP) in the country. The National Payment System Act, 2015 requires all PSPs to undergo a rigorous license application process to provide payment services in Tanzania. DPO
Mastercard, a leading global technology company in the payments industry, recently announced its partnership with SomBank, one of the innovative financial institutions in Somalia. The purpose of the partnership is to promote the adoption of digital payment solutions in the country, bringing more Somalis into the digital fold. The partnership allows SomBank to issue and
Financial technology revenues are projected to grow sixfold from $245 billion to $1.5 trillion by 2030, according to a new report released by Boston Consulting Group (BCG) and QED Investors. Despite fintechs losing more than half their market value on average in 2022, Global Fintech 2023: Reimagining the Future of Finance found that the plunge
By Harsha Maloo, Head of Payments at Synthesis The evolving cross-border payment landscape is witnessing noteworthy developments beyond traditional systems. One notable trend is the plan by BRICS countries (Brazil, Russia, India, China, South Africa) to establish their own currency. For over a decade, the BRICS nations have been seeking to reduce their reliance on
Today, Mastercard announces the launch of Mastercard Receivables Manager, a new, automated solution that streamlines the way businesses accept and process virtual card payments. The innovation complements Mastercard’s virtual card platform as the company provides choice in payments to players across the ecosystem and accelerates the digitization of B2B transactions across buyers and suppliers. In
