With an explosion of digital payment channels, transaction security enhancement has become indispensable for all entities in the payment process – issuers, acquirers, merchants, payment brands, mobile and digital commerce solution providers. The risks and cost of securing a growing volume of transactions to meet regulatory and compliance requirements has increased substantively. According to the
TerraPay, the world’s first mobile payments switch, announced today that it has successfully obtained regulatory approval from South African Reserve Bank to launch Cross-border money transfer services in South Africa. This makes TerraPay the 5th company to be licensed as a category three Authorised Dealer in Foreign Exchange with limited authority, also known as ADLA
In line with its strategy to continue delivering convenient and secure payment experiences to its customers, CrediMax in collaboration with Mastercard, a leading technology company in the global payments industry, has announced the launch of ‘MaxWallet’, its first Digital Wallet. The CrediMax ‘MaxWallet’ is Masterpass QR-enabled, allowing mobile banking users to safely pay for face-to-face
Kalon Venture Partners, formerly Grotech, and Smollan Group SA both acquired a minority stake in South Africa’s fastest growing shopping community, SnapnSave. Kalon, a venture capital fund and Smollan Group, a leading international retail solutions business invested R7 million each. SnapnSave, founded by Mark Bradshaw is South Africa’s leading cashback coupon app that gives shoppers
The financial services industry is under increased threat from cybercriminals who use ingenious methods to attack institutions and consumers. Cybercriminals are employing ever more sophisticated means to intercept online transactions and commit fraud. Banks, financial services companies and consumers are permanent targets in this online battleground, while countermeasures have to be able to track an
African Development Bank President Akinwumi Adesina and South African Minister of Finance, Malusi Gigaba, signed a Host Country Agreement on Friday, August 18, establishing the Bank’s Southern African Regional Development and Business Delivery Office in Pretoria, the country’s capital. The office will serve as one of five regional hubs for the pan-African development finance institution
NCR Corporation, a global leader in omni-channel solutions, and Performance Food Group Company (PFG), a leading food service supplier, have entered into a strategic referral relationship to bring NCR Silver™, the cloud-based point-of-sale (POS) solution, to more restaurants throughout the United States. PFG will introduce NCR Silver to its 36 Performance Foodservice distribution centers nationwide,
Chinese tourists in South Africa will have more opportunities to pay via smartphone as Alipay, the world’s largest online and mobile payment platform, operated by Ant Financial Services Group (“Ant Financial”, “Ant”), partners with Zapper, the fast-growing mobile payment, customer insights and digital marketing platform developed in South Africa. This partnership will allow them to
Data from SWIFT shows that FIN traffic growth in East Africa has outperformed the total growth of SWIFT globally. In the year to date, total message traffic volumes grew by 20.1% versus 8.2% growth for SWIFT worldwide. This clearly illustrates the increasingly important role that East Africa plays in SWIFT’s global business. Data also shows
Corporate Executive of MTN Ghana, Mrs. Cynthia Lumor, has warned customers and subscribers of the mobile money service against sharing their pin numbers with vendors or agents. According to her, no vendor or agent has the right to demand the private pin numbers of customers when performing a function on the mobile money platform. This
