The South African Reserve Bank recently launched a consultation paper on the feasibility of a domestic card scheme. According to their consultation paper, the purpose of this consultation paper is to obtain opinions, views, and suggestions on the feasibility of establishing a domestic card scheme and to request stakeholders to complete a questionnaire in this
Despite being hit hard by travel restrictions in 2020, the long-term future for the commercial card sector is bright, with spending forecast to hit new highs by 2022 More than half of commercial card expenditure is on charge cards European commercial card spending rose by 11% in 2019 to €366 billion and accounted for 8%
Enabling digital transactions in Sudan supports Mastercard continued effort to bring 1billion people into the digital economy by 2025. Partnership will enable bank customers and businesses with greater choice and convenience in shopping. Faisal Islamic Bank (FIB) in collaboration with Network International, the leading enabler of digital commerce across Africa and the Middle East,
In an initiative that will see the growth and development of payment services within the East Africa region, leading digital fintech platform provider, Ukheshe, has announced the conclusion of a new agreement with the Kenya-based lender KCB Bank Kenya. Through the agreement, KCB will sponsor Ukheshe’s Bank Identification Number (BIN) number, which will allow Ukheshe
The South African Social Security Agency (SASSA) is refuting social media misinformation and claims about the expiry of the SASSA-SAPO Card on 31 March 2021. These claims are not true. The SASSA Cards will NOT stop working on 31 March 2021. The cards will have to be replaced, as indicated by the SA Reserve Bank report
Micro-retailers to receive $150,000 worth of financial support, free health products and training, to ease the economic impact of the pandemic. Mastercard, Unilever and KCB Bank have built on their partnership to support micro-merchants in Kenya by expanding their current Jaza Duka program to provide an extensive COVID-19 relief package to retailers. Micro, small and
Economic pressures hindered growth in 2020 but underlying trends show positive outlook for the payment cards sector Global payment card spending reaches $35 trillion worldwide RBR’s Global Payment Cards Data and Forecasts to 2025 report highlights an ongoing movement away from cash, greater use of contactless and increased card issuance. It shows that $35 trillion
Mastercard is furthering its commitment to create a more sustainable and inclusive digital economy, with a pledge to reach net zero emissions by 2050. Understanding that economic growth cannot come at the expense of the planet, the company’s global action plan aims to continue to reduce greenhouse gases (GHG) by remaining focused on the decarbonization
Innovative digital solutions will enhance mobile-based payments for issuers, merchants, acquirers and consumers Mastercard, a technology leader in the global payments industry, and its strategic partner, Network International, the leading enabler of digital commerce in the Middle East and Africa (MEA) region, have collaborated to launch a new digital platform which will accelerate the adoption
Market-leading gym group, Planet Fitness, announced that they have adopted the latest in smart payment collection technologies for enhanced management of membership payments. This has transformed new member enrollment into a remarkably quick and seamless process and improved their collection success rates. The new technologies are powered by Bitventure, the payment, verification, and onboarding solutions
