The Central Bank of Kenya conducts a survey on remittance inflows every month through the formal channels that include commercial banks and other authorized international remittance service providers in Kenya. The results for May were as follows. Remittances to Kenya increased by 8.6 percent, to USD 119.7 million in May 2014 compared to USD 110.1
The Bank of Mauritius has released a statement saying that it has come to their knowledge that fake bank cheques, purportedly emanating from banks, are currently in circulation in the country and that certain companies have been victims to such fraudulent practices. The Bank of Mauritius strongly urges members of the public to exercise extreme
Leading Kenyan telecom Safaricom and Kenya Commercial Bank (KCB) have formed a strategic partnership, with the first project a one-stop integrated solution that will cater to the needs of small and medium enterprises (SMEs) in Kenya. Biashara Smart is a set of communications and financing products, capacity building initiatives and reward programmes aimed at connecting,
ShopKeep, which is currently used in more than 10,000 small businesses, has described new features that were recently added to its cloud-based point-of-sale software. Together, they improve how full-service bars and restaurants accept payments and manage operations. “Bar and restaurant owners are not usually technologists, so all they want is a point-of-sale system that is
MasterCard and Silicon Valley Bank are inviting startups from across North America to apply for a position in the Commerce.Innovated. class, which is designed to help commerce-focused startups grow their business. In the four-month Commerce.Innovated. program, participating startups receive access to industry expertise across the commerce space from selected MasterCard and Silicon Valley Bank executives
The ATM Industry Association (ATMIA) has announced the first ever ATM operator to be internationally certified after completing the industry’s new professional online operational training. Amy Coulson, Operations Manager with Pueblo Bank & Trust, has been awarded the industry endorsed International Certificate for ATM Operators to become the first certified ATM Operator since the training
Kenyan mobile operator Safaricom has opened up its M-Pesa mobile money agents network to rival operators, allowing integration between various mobile money platforms, according to a report. Business Daily reports the move now allows investors to run M-Pesa services alongside rival mobile money platforms provided by Airtel and Orange. Last month Safaricom was braced for
A few days ago, Telecel’s General Manager, Angeline Vere disclosed that the company’s mobile money service that was launched 5 months ago, Telecash, now has 600,000 registered subscribers. This is an impressive number in a number of ways, but mostly in comparison to Econet’s EcoCash, which has generally been regarded a success. Consider for example
ACI Worldwide has announced that Southern Auto Finance Company (SAFCo) has selected its UP Bill Payment Solution to increase consumer convenience and reduce payment processing costs. SAFCo customers will be able to pay their loans electronically on a mobile device, computer or via phone with a debit card or ACH (Automated Clearing House). They will
Scanbuy , the world’s leading mobile engagement solutions provider, has announced a major upgrade to its popular ScanLife app for Android and iOS devices, giving consumers the opportunity to receive personalized deals and promotions as well as rewards based on their scanning activity via the app’s recommendation engine. With a completely redesigned dashboard, ScanLife users
