Following the 10 million South Africa Social Security Agency (SASSA) MasterCard Debit card milestone announcement, an independent consumer survey has attributed this program as being one of the largest contributors to increasing financial inclusion in South Africa. According to FinScope South Africa 2013, South Africa’s banked population has grown 8% since 2012, with 75% (27.4
FNB Zambia and Visa have introduced the annual Card Security Briefing, an initiative aimed at creating greater awareness amongst consumers to adopt cards as a safe and convenient way to make their daily purchases. Over time, cards have increasingly become popular way of paying for goods and services in Zambia. FNB forecasts that the value
Tackling fraud and extending banking services to previously underserved populations are just some of benefits Lorenzo Gaston, Technical Director of the Smart Payment Association (SPA) will highlight when he takes the stage today at www.cartes.com to explain why the Time is Now for Biometrics in Financial Services. The introduction of biometric cardholder verification represents an
First Data Corporation and Oberthur Technologies announced a strategic partnership to manage and promote EMV in the United States. First Data is a global leader in electronic commerce and payment processing. Oberthur Technologies is one of the world’s largest providers of security and identification solutions and services based on smart card technologies. The partnership will
CardCash.com, the web’s largest secure secondary gift card exchange, announced that it has secured $6 million in growth financing from Guggenheim Partners, a global financial services firm. CardCash said it will use the funding to continue to enhance its popular exchange on which consumers can buy, sell, and trade the estimated $30 billion of unused
Since its launch in May this year, Absa’s Multi-currency prepaid travel card has generated 12 000 card sales and more than R250 million in transactions. From a zero base six months ago, the service now accounts for 77% of all Absa travel card sales. In a first-to-market in South Africa, the cash passport allows South
Green Dot Corporation and Walmart announced they have expanded the line of Walmart MoneyCard® reloadable prepaid debit cards to include six new card types designed to meet the needs of their growing customer base. Issued by Green Dot, the Walmart prepaid debit card portfolio now includes nine cards, and is available in more than 4,100 Walmart
FNB reports that monthly non-cash purchases by customers in its Consumer Segment have surpassed cash withdrawals at its ATMs by R800m. The dominance of card over cash is very new in the financial services sector. Two years ago, FNB Consumer Segment customers withdrew R1.3bn more in cash than the value of card purchases. Across the
NextWorth, a leader in consumer electronics upgrades and trade-ins, announces a new payment method for its customers – the NextWorth Discover® prepaid card. A first in the electronics trade-in industry, the NextWorth prepaid card adds another convenient payment method to the NextWorth platform and can be used everywhere Discover is accepted. Now, when customers trade-in
In line with its commitment to enhance electronic payment card penetration in Egypt, MasterCard announced the appointment of Emerging Markets Payments (EMP), the leading electronic payments processing company in the Middle East and Africa region, as a Principal Member in Egypt. Through this, EMP will be able to sponsor issuers in Egypt and other African
