By Karen Nadasen, CEO of PayU South Africa The Bill and Melinda Gates Foundation identified five key ways that African countries can include more than 400 million people into the digital economy, with one of the key themes being the importance of exploring a pathway to open banking. Open banking promotes fairness, competition and innovation
The licence, in accordance with Section 11 of the Virtual Asset Act, 2022, was issued by the Non-Bank Financial Institutions Regulatory Authority [NBFIRA] Pan-African cryptocurrency leader, Yellow Card (www.YellowCard.io) has made another significant stride in the industry, becoming the first cryptocurrency company on the continent to be granted a Virtual Asset Service Provider licence to
Merchants that use Peach Payments to accept digital payments can now leverage Instant EFT by Peach Payments to improve conversion, reach more customers and save on card fees South Africa-based digital payments gateway Peach Payments and API fintech Stitch have partnered to enable online merchants across South Africa to accept secure, low-cost instant EFT payments.
16% Growth in eCommerce Fraud Losses in Just 12 Months A new study from Juniper Research has found that the total cost of eCommerce fraud to merchants will exceed $48 billion globally in 2023, from just over $41 billion in 2022. It predicted that this growth will be accelerated by the increasing use of alternative
Amplifin pledges to bring digital payment solutions to the people According to figures published on Statista, South Africa’s total transaction value in digital payments per annum is expected to show an annual growth rate of 12.10% (CAGR 2022-2027), with a projected amount of US$25.39bn by 2027. For more than two decades, Amplifin (formerly Intecon) has
Financial inclusion is severely skewed in South Africa, with higher-income groups having more access to a range of financial services such as bank and savings accounts, loans, and insurance products. Those who are financially excluded have more difficulty accumulating wealth – further deepening this divide. But there are ways of overcoming this serious problem according
Finalists will compete for the top price of $50,000 and admission to the ‘Ecobank Fintech Challenge Fellowship’ program The six finalists were chosen following extremely strong competition from over 700 fintechs from 59 countries; Grand Finale is to be held on 28 October at the Ecobank Group (http://www.Ecobank.com) Pan African Centre in Lomé, Togo; Finalists will
Tingg’s uptake across Africa is in high gear, with products like In-store payments which leverage mobile money and mobile banking as payment methods through USSD and QR Codes Cellulant Zambia (https://www.Cellulant.io) has signed a Memorandum of Understanding (MoU) with the Lusaka Chamber of Commerce and Industry (LCCI) to offer digital payments to its member businesses. Lusaka
Verto, London-based and authorised by the UK FCA as an Electronic Money Institution, a regulated B2B cross-border payments fintech with a global reach has partnered with ForexPeople to bring secure, fast and seamless global payments to South African businesses buying, selling or operating globally. With more than $1.5 billion in transaction volumes, Verto provides trusted
Standard Bank, Africa’s largest financial services organisation by assets, is honoured to have received a series of awards and special mentions at the 32nd annual Private Banker International (PBI) Global Wealth Awards 2022. This year, Standard Bank Wealth & Investment took the top spots in the following categories: Outstanding Global Private Bank: Africa Outstanding Wealth
