With international investment in South Africa having drastically reduced, homegrown fintech startup Payflex has scored a significant vote of confidence from an Australian-listed multinational. Payflex is backed by Zip Co Limited (ASX: Z1P), a buy now pay later player with a market cap of over R55 billion. Paul Behrmann, Payflex CEO and founder, says the
FSS (Financial Software and Systems), a globally leading provider of integrated payment products and India’s largest payment processor, announced new enhancements to FSS Merchant Hub to maximize the value of the acquirer ecosystem for merchants through support for new transactional journeys and superior merchant service FSS Merchant Hub is a unique merchant support system, designed
Transition will reduce CO2 emissions by 161 tonnes a year, and save 73 tonnes of plastic per year HSBC is announcing a new programme to introduce sustainable payment cards across all its global locations. By the end of 2026 it will eliminate single-use PVC plastic, in favour of recycled PVC plastic (rPVC). The programme –
HSBC launches Mastercard Track™ Business Payment Service for commercial customers in the UAE Technology leader Mastercard continues to deliver on its promise to modernise business payments worldwide and across the Middle East and Africa region, announcing a new partnership with HSBC that will provide the bank’s commercial customers in the UAE with an enhanced business-to-business payment
31 December 2020 marked the end of Cheques, one of the oldest recognized payment instruments in South Africa. For the Payments Association of South Africa (PASA), the legal and operational structures and constructs that governed Cheques were formally disbanded on 31 March 2021, bringing the end to a grand old payment system. By contrast, several
Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, is pleased to announce the appointment of Akin Dada as Group Executive, Corporate and Investment Bank. He joined Ecobank in 2017 as the Executive Director for Corporate Bank in Nigeria, and prior to his new appointment was Group Head, Corporate Banking for the Ecobank Group.
In a region still dominated by cash and mobile money options, like M-Pesa, new collaborations between fintechs are looking to capture the price-sensitive market with innovative, open-loop digital payment solutions in East Africa. According to Mark Dankworth, President International, Ukheshe Technologies, the region is poised for a surge in digital banking growth, with the likes
Hari Chaitanya, Head of Investor Services, Product Management at Standard Bank A year ago, investors finally accepted the gravity of the looming COVID-19 crisis. In March 2020, major equity markets collapsed by almost a third, while safe-haven assets – including US Treasury bonds – came under unprecedented strain. Although markets have since recovered, the crisis
Zeepay, the leading African Challenger Fintech with operations in over 10 African countries has acquired a 51 percent stake in Mangwee Mobile Money in Zambia. In a private placement Zeepay and Mangwee agreed to a sale of 51 percent of Mangwee shares to Zeepay. The deal makes Zeepay Ghana the majority shareholder of the entity. Mangwee has
Crossfin Ventures, the angel investment arm of Crossfin Technology Holdings, has announced its investment in Troygold, a South African fintech enabling gold owners to digitise physical gold and use it for day to day transactions via a mobile app and gold-backed Mastercard. Crossfin Ventures chief operating officer Anton Gaylard says they were attracted to Troygold
