In a first for the retailer, Shoprite Nigeria was among the winners at this year’s Electronic Payment Incentive Scheme (EPIS) Efficiency Awards. The retailer won in the category Merchants (Point of Sale) for recording the highest volume of cashless transactions in 2018. The EPIS Efficiency Awards celebrate, among others, financial institutions and merchants driving electronic
SASSA completed the switch over to its new gold card in December 2018 and managed to swap over 7 million old cards for its new card. The rest have filled in the bank transfer form and receive their grants directly through their private bank accounts. Over 12 million beneficiaries receive social grants in South Africa.
The Prudential Authority (PA) has imposed administrative sanctions on Bidvest Bank Limited (Bidvest Bank) for non-compliance with the provisions of the Financial Intelligence Centre Act 38 of 2001, as amended (FIC Act). The FIC Act mandates the PA, in terms of section 45, to supervise and enforce compliance with the provisions of the FIC Act
Stanchion, a leading payments fintech solutions company, has appointed Norman Frankel, as managing director for Europe and the UK bringing significant payment industry experience with him. Frankel, who will be based in the UK office, will help Stanchion to unlock growth opportunities across the region and to refine its offering for the European market. Frankel
Jumia, the leading pan-African e-commerce platform, today announced that Mastercard has agreed, subject to certain conditions, to become an investor and form a strategic partnership to grow e-commerce operations and support the digital transformation of the continent. Currently, e-commerce is nascent in Africa and accounts for less than 1% of total retail volumes. However, there
OpenWay, a global leader in digital payment processing software, has announced the successful integration and compatibility of its WAY4 payment processing platform with the Gemalto SafeNet Payment Hardware Security Module (Luna EFT 2). This means that processors, card issuers and merchant acquirers that are already using this HSM do not need to invest in additional
At the recent Blockchain Africa conference in Johannesburg, Investec, in collaboration with BankservAfrica and uPort, demonstrated a digital identity system anchored in the Ethereum blockchain. The initiative was born in the digital identity working group of the SA Financial Blockchain Consortium (SAFBC). The identity system enabled each conference attendee to create an individual identity by
Finn AI, the world’s leading AI-powered conversational banking technology provider, announces that TymeBank in South Africa has launched Max, a financial fitness coach within their TymeCoach offering. TymeBank partnered with Finn AI to develop Max, a conversational assistant dedicated to helping consumers learn about their money including how they can enhance their financial profile, improve
Nicolas Huss, Chief Executive Officer of Ingenico Group, appoints Matthieu Destot as EVP, Banks & Acquirers Business Unit, and strengthens the Business Unit’s strategic focus on the APAC region. Ingenico Group, the global leader in seamless payments, has announced the appointment of Matthieu Destot as EVP, Banks & Acquirers (B&A), effective April 1st, 2019. Matthieu
UnionPay International recently announced that the achievement in partnership in acquiring, issuing, and mobile payment with National Microfinance Bank (NMB), one of the largest commercial bank in Tanzania. It is expected that by the end of 2019, the acceptance rate of UnionPay cards will reach 90% in Tanzania. Cai Jianbo, CEO of UnionPay International, and
