PayPal launched Xoom—its international money transfer service—in 32 markets across Europe. People in these markets can now use Xoom to quickly send money, pay bills or top up phones to more than 130 markets internationally. Xoom’s expansion to Europe is a significant milestone and another example of PayPal fulfilling its mission to make the movement
Leading digital money transfer service WorldRemit continues its rapid expansion in Africa, launching new international mobile money services through a partnership with pan-African fintech MFS Africa. This launch brings WorldRemit’s mobile money service to 5 new countries via Airtel in Malawi and Niger, Orange in Madagascar, Vodacom in Mozambique, and MTN in Guinea. WorldRemit’s mobile-first,
The impact of Digital Banking, Blockchain, AI, Mobile Money, Digital Wallets and Payment innovations are radically transforming the financial services landscape as FinTech disruptors intensify the challenge to Incumbent Banks in Africa and kickstart new growth opportunities. Africa’s financial services landscape continues its dynamic evolution as the rapid growth of FinTech on the continent drives
First Bank of Nigeria Limited has announced its organisation of a Joint Seminar with sub-Saharan African Banking and Telecom Regulators to promote financial inclusion through digital innovations in sub-Saharan Africa. The event which was held in Lagos recently was themed “Advancing ePayment and Digital Innovations in Africa- Evolution of Nigeria’s Payment Systems”. The seminar was
FNB has revealed that South African consumers are showing strong appetite to save after its customers initiated nearly 20 000 savings goals in just a few days since the launch of the Savings Goals feature on the Bank’s App. To date, some of the top Savings Goals that have been chosen by consumers include: saving
It’s official! The third annual African Fintech Unconference (AFU19) will be held on 10 – 12 September 2019 on the shores of Lake Victoria in Uganda. This dynamic industry event is co-convened by African fintech pioneers Nomanini, MFS Africa, and Tugende. Over the past decade, the progress made within financial inclusion has emerged as one
Egyptian Banks Company enters new phase of long-standing relationship with ACI as it prepares for launch of national payments scheme. ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, has announced that Egyptian Banks Company (EBC) has completed its transition to the latest version of ACI’s UP Retail Payments solution. EBC,
New data from Juniper Research has found that the volume of domestic money transfers via mobiles will exceed 203 billion in 2024, up from 130 billion in 2019. Domestic P2P payments will drive this growth; accounting for 80% of all domestic transfers in 2024. According to the new research, Digital Money Transfer & Remittances: Domestic
Pursuant to Section 31(2) (b) of the National Payment System Act, 2011 which empowers the Central Bank of Kenya to issue Directives and Guidelines, the CBK has developed a Cybersecurity Guideline for Payment Service Providers (PSPs). The objective is to create a safer and more secure cyberspace that underpins information system security priorities, to promote
Following months of intensive research and development, Selcom, Tanzania’s leading provider of financial technology and processing services, has formally launched its shared-agent Agency Banking service under the Qwikserv brand. Qwikserv, as the name suggests, has been designed for participating banks’ customers with the objective of quickly and effortlessly providing accessible touch points for essential banking
