Cash continues to power everyday transactions for millions across the nation. According to The South African Reserve Bank (SARB) Payments Study Report released in August 2024, South Africans use cash most often as a payment method (87%), regardless of what they buy. Only 15% use cardless payments and 8% opt for credit card, while debit
Equity Bank (Kenya) Limited, a subsidiary of Equity Group Holdings Plc, is one of the leading banks in Kenya. Equity Group Holdings Plc. is a Pan-African financial services holding company listed on the Nairobi Securities Exchange and cross-listed on Uganda Securities Exchange and Rwanda Stock Exchange. The Group has other banking subsidiaries in DRC, Rwanda,
Standard Bank is actively reducing its ATM presence across South Africa by introducing more efficient “new technology ATM devices” with higher capacity to better serve clients. In recent years, South Africa’s major banks have been reducing their physical footprint as customers increasingly adopt digital transaction channels. This has led to a reduction in the size
In a significant move towards enhancing digital financial inclusion, Salaam Somali Bank, in collaboration with Mastercard, has announced the launch of a digital-first co-branded multi-currency prepaid card designed to revolutionize digital payment solutions. This strategic collaboration aims to cater to the growing needs of international travellers and diaspora communities by providing secure and convenient means
Paycorp, a global leader in payment solutions, continues shaping the future of payments across Southern Africa, Central and Eastern Europe, and the UK. With over two decades of experience, Paycorp stands as an acknowledged innovator, leveraging a collaborative and integrated ecosystem, blending expertise, reliability and agility in transaction processing, cash management solutions, value-added services like
Despite the global move towards digital transacting, 1.4 billion people worldwide remain unbanked. It’s these individuals that payment service providers like Spenda are empowering through the use of innovative payment solutions that address the financial inclusion gap. In its latest move to do so, Spenda has integrated Scan to Pay to launch Spenda Scan to
The ATM Industry Association (ATMIA) and Payments Afrika are pleased to announce a strategic partnership aimed at driving innovation and fostering collaboration within the payments ecosystem. By combining their respective strengths and resources, both organizations are poised to deliver greater value to their audiences and contribute to the continued evolution of the industry. The partnership
Success in the digital payment space will hinge on the ability of new players and incumbents to converge the physical and digital experience into a seamless continuum for the customer. Extending the digital solution to a cash-based customer requires a “phygital” approach, writes Juan Seco, Chief Growth Officer at Mukuru. Digital wallet use, especially in
Leading global payment company, Paycorp, has partnered with Triple-A, the digital currency payment institution, to allow users of the Paycorp-powered CryptoExpress app, to use their digital currencies to make cash withdrawals at over 3,000 ATMs in South Africa. By offering digital currency holders a simple and practical way to convert their digital currencies and withdraw
The South African Social Security Agency (SASSA) acknowledges notice from the PostBank regarding resumption of payment withdrawals or transactions following technical challenges experienced by social grant clients on payment days on 05 and 06 September 2023. Clients can now enjoy the use of the SASSA/PostBank cards to make purchases and payments. Clients using the SASSA
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