Guaranty Trust Bank plc was conferred with the 2013 African Bank of the Year Award by the African Banker Magazine at a well attended ceremony on May 29th, 2013 in Marrakech, Morocco. The African Banker Award recognizes financial institutions across the continent that have emerged as industry leaders and continent trend setters, due to good
Global payments solution provider, DataCash, a MasterCard company, announced that it is partnering with Redecard to provide E-commerce Redecard, a payment solution for merchants across the entire Brazilian market. Redecard is a subsidiary of Itaú, the largest bank in Latin America and one of the largest banks globally. Itaú employs over 96,000 people and has
Earthport, the cross-border payments service provider has announced that IFC, a member of the World Bank Group, has agreed to invest $10 million in the company. The funding will be used to expand Earthport’s presence and payments service infrastructure, particularly in developing countries. Through this investment, Earthport also becomes part of IFC’s extensive network which
Standard Chartered Kenya has announced a pre-tax profit of KShs 2.7 billion for the period ended 31 March 2013. Total income remained flat at KShs 5.4 billion with loans and advances up by 22% to KShs 117.3 billion. Financial Highlights: • Net interest income grew by 2% to KShs 3.7 billion driven by strong growth
The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, CON, has been conferred with the 2013 Africa “Central Bank Governor of the Year” Award by the renowned IC Publications Group, in collaboration with Business in Africa Events, at Marrakech, Morocco. The Central Bank Governor’s Award, which is the third for Sanusi
A combination of open and closed loop pre-paid payment cards in both the government and enterprise sectors will result in cumulative shipments totalling 3.6 billion between 2013 and 2018. ABI Research forecasts that 53% of 2018 shipments will be smart card enabled, up from 24% in 2013. The sharp rise is driven by an increasing
Kalixa Group today announced that it has been selected by MasterCard® to issue a version of its award winning Kalixa Pay prepaid card to every newly accredited acquirer for testing. The card enables live testing of MasterCard acceptance – including online and PayPass™ transactions – to ensure a simple, seamless and secure integration process for
Capitec Bank has issued a statement to say that they do not agree with the comments in the Business Times article by Thekiso Lefifi titled ‘Capitec bubble about to burst?’. They claim it created an incorrect perception of the way the bank does business. They say there are factual errors in the comments which are misleading
Square announced Square Stand, new hardware for brick and mortar businesses that turns an iPad into a complete point of sale. With local businesses increasingly tearing out their old point of sale systems to run Square Register, Square Stand gives merchants a remarkable new way to manage and grow their business, all for the price
JPMorgan Chase announced that Mike Passilla has been named chief executive officer of Merchant Services. This newly created role will oversee Chase’s growing payments and merchant services business including Chase Paymentech, Chase’s merchant offers business, as well as Chase’s recently-announced merchant payments initiative. In 2012, Chase Paymentech processed 29.5 billion transactions with a value of
