Quick response (QR) codes have become part of everyday life in recent years. From leaflets and billboards to menus and product packaging, they’re everywhere and easy to use. Compared to other forms of payment, particularly cash, QR codes significantly reduce the risk of theft or loss, as they eliminate the need to carry physical money.
Anti-Money Laundering (AML) is a critical aspect of financial measures and regulations designed to prevent the illegal generation of income and the conversion of illicit funds into legitimate assets. Money laundering is a global issue that often involves complex networks and schemes that transcend borders, making it difficult to combat effectively. “The impact of money
The accessibility of generative AI tools has lowered the barriers for would-be criminals, while the transition to hybrid work models and geographically dispersed teams has expanded the attack surfaces they can exploit. In this context, the overlap of AI technology and the interests of financial leaders becomes increasingly significant, says Ryan Mer, CEO of eftsure
iKhokha, a locally developed all-in-one suite of intuitive business tools that empowers small businesses to compete in the digital economy, has won the 2023 MTN Business Finance App of the Year Award. iKhokha now joins the ranks of other South African financial solutions that have previously won this prestigious category, including Naked Insurance, Franc, Shyft
Today, Mastercard announced the completion of significant new technological infrastructure that will enable the tech company to process transactions locally and drive the modernization of South Africa’s payments industry. The project is the latest major investment that Mastercard has made in technology and partnerships in South Africa that are set to further improve the country’s
The Financial Stability Board (FSB) Regional Consultative Group for the Middle East and North Africa (RCG MENA) met today in virtual format. The group discussed global and regional macroeconomic and financial stability developments. Spillovers from bank failures in the US and Europe in March have been muted. However, geopolitical factors are weighing on the outlook
Global payment company Paycorp has unveiled CryptoExpress, an app designed to simplify the conversion of cryptocurrencies to cash for South Africans. The CryptoExpress app seamlessly integrates with users’ crypto wallets, enabling them to effortlessly withdraw their cryptocurrency as cash at more than 3,000 crypto-enabled Cash Express ATMs across South Africa. Cash Express ATMs are operated
The US Federal Reserve launched the FedNow real-time payment service in July, creating a centralised system it hopes will enable faster cash flow for individuals and businesses in the US. As exciting as the launch of this frictionless new payment rail is, fraudsters will find new ways to exploit merchants and customers. Authorised push payment
Mastercard and Hatua.net – an independent UK and US registered charity working to promote education and employment among youth in Kenya and Uganda – have joined hands to empower young people with the essential skills needed to thrive in today’s competitive job market. Primary school in Kenya and Uganda is free but secondary school fees,
In today’s ever-evolving digital landscape, the concept of consumer consent has taken centre stage for companies. Gone are the days when consent was assumed; today, the control is firmly in the hands of the consumer. For those companies who handle consumer data, consent has to be a priority. While consumers want the services they can
