UnionPay International (UPI) has announced significant progress in the South African retail payments market through their co-operation with Pick n Pay and Absa Bank. Through a tripartite co-operation agreement, Pick n Pay, a major food, clothing and general merchandise retailer, is now enabled to accept UnionPay cards at all of its till points across its
Nigeria’s Access Bank has migrated its entire network of ATMs to CR2’s ATM driving and card switching solution. The project also includes the migration of the lender’s card management system, according to a company press release. As part of the deal, CR2, which is headquartered in Dublin, Ireland, will be responsible for the largest ATM
Expanded chargeback capabilities will deliver greater transparency and insight to help buyers and sellers resolve disputes quickly Visa has announced it has signed a definitive agreement to acquire Verifi, a leader in technology solutions that reduce chargebacks. The combination of Verifi’s best-in-class dispute resolution tools with Visa’s suite of risk and fraud management solutions will
American Express has launched vPayment in the South African market, offering travellers and travel agents a safe, simple and reliable way to pay for their travel bookings. vPayment controls and streamlines the payment and reconciliation process by assigning a unique American Express virtual account number and user-defined expense information to each transaction. A bespoke transaction
New collaboration to modernize global money movement for expedited cross-border money transfers. Visa has announced a new strategic agreement with Western Union, a global leader in cross-border, cross-currency money movement. Western Union will implement Visa Direct, Visa’s real-time1 push payments platform in an effort to bring speed and transparency to the process of sending money
The specification enables the creation of a virtual payment terminal and the icon facilitates easy consumer recognition of remote-checkout environments that offer a consistent card-based payment acceptance experience. EMVCo has released EMV Secure Remote Commerce (SRC) Specification v1.0, which is available for free public download from the EMVCo website. The specification provides a foundation that
Contactless cards will account for 57% of payment cards worldwide by 2023 as issuers increasingly offer them as standard, and acceptance grows to reflect customer demand. Issuers offer contactless functionality to persuade customers to use cards instead of cash Research from RBR’s Global Payment Cards Data and Forecasts to 2023 shows that issuers across the
A consortium led by Apis Growth Fund I, a private equity fund managed by Apis Partners LLP, and Crossfin Technology Holdings, a fintech investment company announced today the acquisition of Sureswipe (Pty) Limited and the formation of Crossfin Transactional Solutions, South Africa’s largest independent payments and merchant acquiring solutions platform The acquisition of Sureswipe complements
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.
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
