MasterCard and PULSE, a Discover Financial Services company, have reached an agreement that will allow financial institutions that issue EMV debit cards that participate in both the MasterCard and PULSE networks to use MasterCard’s common debit solution on those cards. The agreement will help accelerate EMV deployment for the networks’ mutual debit card issuers, merchants
Nedbank’s sustainable turnaround of its retail business has received international recognition from both The Asian Banker and African Banker magazine. Last month Nedbank was named Best Improved Retail Bank (Middle East and Africa region) by The Asian Banker and also received awards for Best Customer Relationship Management and Best Brand Building Initiative in Africa for
The Central Bank of Nigeria (CBN) has partnered with NigComSat to fast-track the bank’s cashless policy through effective and efficient internet services, with the latter to provide Wi-Fi hotspots to local government bodies. Aaron Yaduma, head of CBN’s Shared Services, announced a memorandum of understanding (MoU) had been drafted while speaking at a cashless policy
Equity Bank has doubled their over the counter withdrawal fees recently in a bid to encourage the use of alternative banking channels such as agency outlets and mobile banking. Equity hopes that this will decrease congestion in bank branches and reduce their teller to customer ratio. The cash withdrawal charges have gone up from Sh50
The former NBC Bank Managing Director Mr Lawrence Mafuru has been elected CRDB Bank independent director by the bank’s stakeholders at a meeting held at Arusha International Conference Centre (AICC) over the weekend. Mr Mafuru was NBC Managing Director from June 2010 until December 2012. He now works in the President’s Delivery Bureau (PDB) as
In support of National Small Business Week, on Thursday 15 May the PCI Security Standards Council (PCI SSC), an open global forum for the development of payment card security standards, will host a webinar on basic security tips for small businesses to protect against payment card fraud. The Council will also offer free PCI Awareness
The ATM Industry Association has expanded its already robust regulatory and compliance monitoring service that includes Regulation Alerts and Compliance Profiles, to encompass new legislative monitoring for 11 states. The new service, called iStateLink, reports on a broad array of relevant topics including; ADA, surcharges, signage, licensing, taxes on fees, government assistance, availability of funds,
Sami Lahoud, Vice President – Communications, Middle East and Africa for MasterCard shares his insights into financial inclusion at the World Economic Forum on Africa: This week, MasterCard joins more than 1,000 business leaders, heads of state and government, as well as representatives from academia, development organizations, non-profits and media in Abuja, Nigeria for the 24th
Africa has emerged as the Society for Worldwide Interbank Financial Telecommunication’s (SWIFT’s) fastest growing region, with a 17 per cent increase in total transaction volumes over the SWIFT network in the year ending March 2014. Globally, the company said within the same period traffic volumes rose by 9.7 per cent. In Africa, Nigeria recorded the
Following today’s launch of the 2014 Africa Progress Panel report, Dr Ismail Ahmed, CEO of WorldRemit and former adviser to the United Nations, called for regulators around the world to take action against the anti-competitive business and lobbying practices of Western Union and MoneyGram. Dr Ahmed, an African himself, is a leading expert on remittances.
