The purpose of this communiqué is to announce the adjusted interchange rates for automated teller machines (ATMs). The South African Reserve Bank (SARB) annually reviews interchange rates for transactions emanating from the ATMs, cards and point-of-sale devices. In 2018, the SARB decided to keep the interchange rates for cards and cashback at point-of-sale devices unchanged.
African Bank has officially launched its transactional banking offering called MyWORLD, to South Africans. The introduction of MyWORLD has elevated African Bank to a digital retail bank, offering a variety of products including transactional banking, personal loans, savings and investments and insurance. “Our increased and diversified product offering, underpinned by our Omni-channel platform, will enable
Bahrain’s national bank partners with Tarabut Gateway, Bahrain’s first licensed open banking systems provider, to enable customers to access new digital services and aggregate all their accounts from different banks National Bank of Bahrain (NBB) has today taken a lead role in evolving the banking industry in the region, by adopting technologies that enable it
The Tribunal has this afternoon approved Capitec Bank Limited’s (Capitec) acquisition of Portuguese-owned Mercantile Bank Holdings Limited (Mercantile Bank), which paves the way for Capitec to enter the business banking market. Capitec was selected by the Portuguese government as the successful bidder after approximately 60 expressions of interest from foreign and local bidders were initially
Aconite Technology Ltd is proud to announce that Discovery Bank, a new digital-only challenger bank launched by Discovery Central Services Limited, the leading South African insurance and financial services provider, has started issuing and processing EMV debit and credit cards using Aconite Technology’s EMV solution suite. This initiative is part of Discovery’s expansion from a
Alipay is working with its e-wallet partners to bring more Asian tourists to Japan Alipay, the world’s leading payment and lifestyle platform operated by Ant Financial, has connected more than 300,000 Japanese merchants as of early 2019 with tourists from Chinese mainland paying through the Alipay app. This was an increase of about 500 percent
Nigeria’s premier financial services provider and Bank of first choice, First Bank of Nigeria Limited has announced that its Firstmonie network has processed a cumulative transaction value of N1 trillion from its relaunch in January 2018. The network also achieved nationwide coverage in record time, enabling access to financial services for many locations that never
SWIFT announces the launch of an ‘in-flight’ payment investigation and resolution service, available in the cloud, in a significant expansion of its network-wide payments validation toolkit. The new capability allows for dynamic query handling between banks on the SWIFT network, enabling them to quickly resolve instances in which required operational, regulatory or compliance information is
The EBRD is continuing its drive to increase the efficiency of Morocco’s small and medium sized enterprises by raising the competitiveness of Societe Maghrebine de Monetique S.A (S2M), a Moroccan firm that develops e-payments systems and is listed on the Morocco stock exchange. Under the Bank’s Blue Ribbon programme, a €2 million loan will further
UnionPay International announced today that the partnership with Steward Bank Limited (Steward Bank), which is the one of the largest banks in Zimbabwe, to issue 150,000 UnionPay international prepaid cards and 50,000 inclusive debit and credit cards. The international prepaid cards will be used by Zimbabweans traveling abroad, while the debit cards will be used
