The explosive growth of apps is causing significant challenges for the banking industry, according to Gartner, Inc. Banking CIOs, CMOs and line of business (LOB) heads face two key challenges. The first is that the visibility of customer banking apps in public stores is decreasing due to the total number of apps available; the second
Visa Inc. has announced a new designation for consumer reloadable prepaid products in the US, aimed at simplifying fees, improving consumer protections and creating opportunities for cardholders to improve their financial health. The designation was developed in conjunction with industry thought leaders the Center for Financial Services Innovation (CFSI) and The Pew Charitable Trusts. “Consumers
MasterCard Incorporated announced the results of its annual meeting of stockholders, held at the company’s worldwide headquarters in Purchase, N.Y. At the meeting: The full slate of 13 directors was elected for a one-year term, to expire at the next annual meeting of stockholders. Included in this group are two new board members, nominated earlier
Capitec Bank, South Africa’s fastest growing retail bank for individuals, announced at its AGM that the bank will launch a home loan offering in answer to market demand. Capitec Bank has concluded a co-operation agreement with SA Home Loans to pilot the introduction of home loans throughout branches in Gauteng for a period and thereafter
Paycorp, one of South Africa’s leading payment services companies, has acquired 100% of the issued share capital of Saicom Group, the holding company of Kazang Prepaid and Saicom Payphones. Kazang, considered one of Southern Africa’s leading providers of value added transaction services, provides prepaid voice, mobile data and electricity through proprietary mobile vending terminals that
Tigo has signed a US$2 million agreement with the International Finance Corporation (IFC) and the MasterCard Foundation as part of efforts to expand mobile financial services in Ghana. The partners said the agreement will focus on customer education and acquisition, with the IFC to provide advisory services on business development, customer profiling and agent network
Kalixa, the next-generation FinTech business, today announced that it has acquired PXP Solutions, a privately-owned company with a 27-year track record in the card payment processing sector. The acquisition extends Kalixa’s addressable market to more than 100 countries globally and puts Kalixa in the top five payment services providers in the world based on capability,
BillMobile, a new mobile payments service for online and digital retailers is launching. BillMobile doesn’t require consumers to download an app, meaning any UK mobile phone owner can pay for goods and services with a phone number. While for merchants integration is quick and easy and the transaction fees are surprisingly affordable. The transaction fees
Wincor Nixdorf maintained its market leadership in electronic POS solution deliveries to retailers in Europe and also solidified its market position as the no. 2 in the world for the segments food/non-food and general merchandise. These are two key results from the latest market study published by the British company Retail Banking Research (RBR). Europe’s
Nigeria’s Guaranty Trust Bank (GTBank) has launched SME MarketHub, an e-commerce portal for small and medium enterprises (SMEs) in Nigeria, which seeks to enable entrepreneurs to bring their businesses online and take advantage of the vast sales opportunities within the space. The bank said the portal allows it to contribute to the growth and development
