Swift today announced strong progress toward goals set by the G20 for enhancing cross-border payments, reporting that 89% of transactions processed on its network reach recipient banks within an hour. That’s already well ahead of speed targets set by the Financial Stability Board to achieve one-hour processing for 75% of international payments by 2027. The
Financial Software & Systems Pvt Ltd (FSS), a globally leading provider of payments technology solutions has announced the launch of ‘BLAZE’, an advanced payments technology platform, designed to meet the diverse needs of banks and financial institutions. Using BLAZE architecture, for instance, the FSS Payment Gateway can process more than 5000 transactions per second. BLAZE
Paycorp, a leading provider of payment solutions, has been licensed as a direct clearing system participant by the South African Reserve Bank (SARB). This means Paycorp can now acquire payment transactions directly into the National Payments System through BankServ Africa and internationally through its principal memberships with Visa and MasterCard. As an independent non-bank participant
South African bank Nedbank is committed to prioritizing its product development to suit the needs of its personal and small business clients. To make banking services more inclusive and accessible, the bank worked with AWS Advanced Consulting Partner Synthesis to develop a software-based point-of-sale (POS) system. The solution, built on Amazon Web Services (AWS), can
South Africa’s leading SME-focused fintech, Lulalend, has evolved into Lula, a one-stop, cash-flow management and business banking solution. This rebranding marks a critical evolution from a funding provider to an ‘all in one cash flow management platform designed to simplify financial management for SMEs. “Guided by our core belief that SMEs are the lifeblood of
Paycorp, a leading provider of payment solutions, has been licensed as a direct clearing system participant by the South African Reserve Bank (SARB). This means Paycorp can now acquire payment transactions directly into the National Payments System through BankServ Africa and internationally through its principal memberships with Visa and MasterCard. As an independent non-bank participant
In a significant move to bolster intra-African trade, the Secretariat of the African Continental Free Trade Area (AfCFTA) and Zenith Bank Plc have entered signed an MOU to develop a comprehensive online portal. This initiative aims to consolidate trade-related data and simplify business transactions across the continent, marking a pivotal step in making AfCFTA more
Banking as a Service (BaaS) and embedded finance enabler Ukheshe has partnered with Diamond Trust Bank (DTB) to provide an innovative BaaS platform in East Africa. BaaS, the provision of banking products and services through third-party distributors, is expected to grow at a compound annual growth rate of a whopping 25% in some markets, and
Mukuru, the leading next-generation financial services platform headquartered in Cape Town, has announced a partnership with online learning platform Digemy to provide financial literacy education for its users. Mukuru CSI Manager Deidré Vrede says the fintech business, which connects with underserved and unbanked users across the continent and walks them along a digital financial journey,
Non-bank ATM operators bounce back from the pandemic with acquisitions of bank terminals to expand their reach, boosting fleet numbers and increasing functionality Non-bank deployers find growth opportunities in a changing climate The latest research from RBR Data Services’ Global ATM Intelligence Service reveals continued expansion in the independent ATM deployer (IAD) sector worldwide. While
