South Africa’s First National Bank (FNB) has revealed the youth market, aged 18 to 25, has shown the greatest growth in the uptake of its mobile banking app. The bank said the youth market has seen 14 per cent growth this year, rising by 133 per cent from when the app was launched in 2011.
Payfirma, the mobile, online and in-store payments provider, is empowering merchants to accept payments in multiple ways through access to their full solution payment API. Developers can now use Payfirma’s easy-to-integrate API to build versatile products for accepting payments online and on mobile devices, so they can meet the needs of merchants who want to
Telecel and MultiChoice Zimbabwe have signed an agreement allowing DStv subscribers to use Telecash to pay for their subscriptions through their mobile phones. Telecash – which launched in January – can be used by its subscribers to send money to any mobile phone user regardless of network and pay bills and for goods and services
The National Retail Federation has submitted an official statement for a hearing on data security being held by the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit, reiterating the retail industry’s commitment to protecting Americans’ financial information. In the statement, NRF Senior Vice President and General Counsel Mallory Duncan – who previously
RainFin, a South African peer-to-peer lending platform, has announced that Absa Bank have acquired a 49% stake in their business. The investment, cited to be in the tens of millions, will be utilised to support working capital, credit and risk expertise and access to liquidity as well as to grow the business and improve offerings.
Bank of Africa subsidiaries in Kenya, Uganda and Tanzania will from now on use a new credit management system in a bid to curb losses that arise from defaulted loans. Known as CreditQuest, the software is from Swiss-based banking and IT consulting firm SOFGEN and will enable the bank to have a centralised view of
The PCI Security Standards Council (PCI SSC), an open global forum for the development of payment card security standards, has announced new online training courses aimed at educating companies about how to keep their customers’ payment data secure, and how to become and remain compliant with PCI Security Standards. These courses, developed in response to
FTS has launched the FTS Smart Payments Enabling Solution to deliver smooth and effective card payment processing, digital merchant acquiring and revenue sharing procedures within the e-commerce and the m-commerce arenas. FTS’ Smart Payments Enabling Solution automates the billing and settlement functionality of payment systems, working with payment service providers (PSPs), independent sales organizations (ISOs),
South Africans are abandoning cash for card payments, cutting banking costs by reducing the need to transport money, according to First National Bank (FNB). The bank reported in December card payments were ZAR3 billion (US$289 million) higher than cash withdrawals, though this had fallen again by January. “The gap between purchases made with banknotes compared
WorldPay, a global leader in payment processing, risk and alternative payments, has partnered with e-Document solution provider Anachron to enable merchants to pay e-Invoices in real-time. Anachron is one of Europe’s leading e-Document service providers, specialising in cutting edge solutions for B2B and B2C electronic document presentment. The new Anachron and WorldPay paperless billing solution
