MasterCard reported a growth of 40% in gross dollar volume, or GDV, for its prepaid card business across Asia/Pacific, Middle East & Africa (APMEA) for 2013 (y-o-y). This strong growth was fuelled in part by significant partnerships announced over the last couple of years in the region, such as: The OneSmart dual-faced loyalty and prepaid
Following concerns raised in the Competition Commission Bank Enquiry Report regarding interchange fees, the South African Reserve Bank initiated the Interchange Determination Project in 2011 to review interchange rates applied in all relevant payment streams. Two payment streams were selected for the initial phase of the project, namely ATM and all card-related streams. The card
Sybrin has partnered with the Kenya Bankers Association (KBA) and the Central Bank of Kenya (CBK) for paperless IT solutions designed to lead to efficient operations, lower costs, improved compliance and better knowledge management. Speaking during a one-day conference for its customers in Nairobi, Daniel Parreira, sales director of Sybrin Systems Africa, said the paperless
Over half of Tanzania’s adult population currently have access to financial services compared to just 27 per cent in the year 2009, thanks to mobile phone money services which central bank boss Prof Benno Ndulu also describes as ‘electronic wallet.’ The improvement, which stands at 57 per cent of the population above 16 years old,
TSYS has announced the results of its 2014 Canadian Consumer Payment Choice Study. The primary consumer research study utilizes both quantitative and qualitative data, gathered through an online survey and in-person focus groups, to gauge how Canadian consumers make payments today and how their payment preferences may change in the future. The results provide helpful
Econet Services has officially launched a new product called EcoCashLoans, an extension of EcoCashSave at an event held at Holiday Inn in Harare this morning. EcoCashLoans, just like EcoCashSave will be administered by Steward Bank. EcoCashLoans is a service that allows EcoCashSave customers to borrow amounts from $5 to $500. Initially, the EcoCashLoans tenure will
Interswitch, recently finalised a deal with Western Union to introduce an account-based money transfer service into the Nigerian market. This deal allows customers to receive money transfers from Western Union directly into their bank accounts. The service eliminates the need to visit a physical bank branch and there is no additional charge to the receiver
Beginning in April, Triton ATM owners will be able to offer consumers new functionality, which will allow cardholders to make charitable donations either as a stand-alone transaction, or as part of the transaction process. Best of all, the software is free and can be installed with a flash drive at the ATM or via Triton
Exim Bank Tanzania has expanded its footprint in the Comoros by opening its fourth branch in Domoni (Anjouan), in a move designed to take services closer to customers in the islands. The Governor of Anjouan, Mr Anissi Chamsidine, who was the chief guest, at the inauguration at the weekend, commended Exim Bank for its efforts
The 3rd Annual East Africa Banking and ICT Security Summit – themed ‘Strengthening Banking and ICT Development in East Africa’ – will be held on April 25 in Kampala, Uganda. The one-day conference will centre on key security issues on core banking systems, software, mobile banking, cards and payments, fraud and risk management solutions. It
