MoneyGram is teaming up with PicomoPay to allow its consumers in the U.S. to send money transfers via PicomoPay’s Facebook application to more than 336,000 MoneyGram agent locations in more than 200 countries. The innovative social media service will be available to consumers in May. PicomoPay is a social and mobile payments platform integrated within
MasterCard gas announced the New Zealand launch of its ground-breaking digital payments technology MasterPass. MasterPass is the digital platform from MasterCard that gives shoppers a seamless, secure and speedy checkout – regardless of where they may be and what device they may be using. MasterPass eliminates the need for consumers to enter detailed shipping and
The Central Bank of Nigeria (CBN) has announced banks have until November 30 to meet specified payment card security specifications, as the bank looks to combat card fraud in Nigeria’s financial system. The move will safeguard personal and account information conveyed in processing card payments. In a circular entitled “Circular on timeline for PCIDSS certification
Visa Inc. has announced financial results for the Company’s fiscal second quarter 2014. Net income for the quarter was $1.6 billion, an increase of 26% over the prior year, or $2.52 per share, an increase of 31% over the prior year. These results include a tax benefit of $218 million of which $201 million relates
International Banker held its annual awards for acknowledging the top banking institutions across the Middle East and Africa. The Co-operative Bank of Kenya received awards in two categories: Innovation in Retail Banking and Best CEO Africa. The International Banker magazine offers a global view of banking and brings in-depth analysis on the people and innovations
Kenyan president Uhuru Kenyatta has revealed the government will be negotiating with financial institutions to make remittances to the country easier and cheaper, and urged the adoption of technology to bring down costs. Kenyatta told Kenyans living and working in Doha, Qatar the government would look into issues affecting Kenyans working abroad, among them unscrupulous
Guaranty Trust Bank plc has held the 24th Annual General Meeting at which the Bank’s 2013 financial results was presented to its Shareholders. The result which was approved last month by the Central Bank of Nigeria and released to the Nigerian Stock Exchange reported a Profit Before Tax of N107.09 billion. According to information from
Amazon.com, Inc. has announced financial results for its first quarter ended March 31, 2014. Operating cash flow increased 26% to $5.35 billion for the trailing twelve months, compared with $4.25 billion for the trailing twelve months ended March 31, 2013. Free cash flow increased to $1.49 billion for the trailing twelve months, compared with $177
The money transfer and remittance services industry is a big deal and it’s something we understand here in Africa because of the huge monetary inflows from the diaspora. At an annual figure of $64 billion for recorded inflows (this excludes well established informal channels) this industry has attracted a lot of investor attention. On the
Guaranty Trust Bank plc has announced the launch of its new loyalty scheme exclusively for GTBank credit card holders. The loyalty scheme is in partnership with Avios, the leading global travel rewards company. This initiative is part of GTBank’s overall strategy to bring the best in card products to its customers. It will reward international
