The National Retail Federation has expressed disappointment in a court decision that will keep the Federal Reserve’s cap on debit card swipe fees at 21 cents rather than reducing it to a lower level. “NRF is disappointed and remains confident that the Federal Reserve erred when it set the swipe fee cap far higher than
Equity Bank Group in Kenya and VFX Financial PLC in the UK have partnered to launch Equity Direct a real-time, cross border, multicurrency money transfer service from the UK to Kenya. The service will enable individuals and corporates in the UK to send money to any account at Equity Bank in the region. The service
Zimbabwean mobile money platform Telecash has seen the number of agents and merchants utilising the service rise 63 per cent, from 1,600 to 2,600, since it was introduced at the end of January. HumanIPO reported earlier this year mobile operator Telecel had launched Telecash, allowing subscribers to use their phones as a digital wallet to
MasterCard has announced a new initiative to help smaller merchants create efficiencies in their operations by accepting electronic payments. The effort combines changes to the company’s U.S. region rules with best practices and insights developed from conversations with smaller merchants. The new standards deliver greater transparency and value to smaller business owners. In the standard,
NCR Corporation has announced the results of its global 2014 Traveler Experience Survey, examining the gaps and regional tendencies for consumer expectations of shopping experiences while travelling versus what is currently available to them. Revenue from airline amenities and ancillary fees was expected to top $42 billion in 2013. Airports too, now derive up to
After coming under fire recently from Carl Icahn, the activist investor who believes eBay should spin off 20% of its PayPal division, eBay has released the following statement: “PayPal and eBay are better together. That’s been true for the past five years, during which time PayPal and eBay have generated a 441% increase in share price for our
African banks should innovate around the emergence of Bitcoin, which banks in the United States (US) and Europe are incapable of doing, according to Pelle Braendgaard, co-founder and chief executive officer (CEO) of Kipochi. Speaking on day two of Africa’s Payments, Banking and Retail Show 2014, Braendgaard said the African banking market is special in
Former Tanzanian President Ali Hassan Mwinyi has welcomed increased cross-border investment among East African countries, especially in delivery of financial services. Mr Mwinyi said this in Dar es Salaam, when officiating at the launch of KCB Bank Sharia Branch and lauded the firm for its continued investment in the country. He said KCB Bank, which
South African startup TuYu is claiming to be the “pioneer” in the country’s mobile corporate reward and incentive industry, having developed an all-encompassing solution to fit a variety of needs and budgets. TuYu’s aim is to allow its clients to receive and redeem rewards in a secure and convenient manner by using their mobile phones.
Thames Card Technology Ltd (TCT), a manufacturers of secure and non-secure plastic cards, has won a tender to be the supplier for the production, personalisation and distribution of one million EMV chip payment cards for Ghana Commercial Bank (GCB Ltd.). Thames will also offer its portfolio of consultancy services to support GCB Ltd. in its
