Agreement to support greater financial inclusion among unbanked in Nigeria Pan-African fintech startup and digital bank Carbon Bank has partnered with Network International, the leading enabler of digital commerce across Africa and the Middle East, as part of its plan to boost its digital payment offering. Under the agreement, Network International will issue and process
Cyber attacks pose a massive risk for financial institutions. The cost of data breaches averages tens of millions of dollars, and other after-effects are often far-reaching for organizations and their customers. At the root of these breaches are passwords – in an estimated 80% of cases. “Eliminating passwords and replacing them with more secure and user-friendly solutions is
The South African Post Office (SAPO) has announced that approved recipients of the R350 Social Relief of Distress (SRD) grant can now collect their benefit from Pick n Pay and Boxer stores nationwide from Wednesday, 22 September. However, according to the national postal service, this is only open to grant recipients who have received an
Futurex, a leader in hardened, enterprise-class data security solutions, has announced a next-generation encrypted key loading (EKL) solution together with Verifone, a global leader in payment and commerce solutions. Remote key loading, which leverages encrypted key loading, is an essential part of managing point of sale (POS) terminals and PIN pad devices. This technology securely delivers
The PCI Security Standards Council (PCI SSC) published a minor revision to the PCI Point-to-Point Encryption (P2PE) Standard. The PCI P2PE Standard provides a comprehensive set of security requirements for the validation of PCI P2PE solutions to protect payment card data via encryption. PCI P2PE v3.1 includes clarifications and updates previously released via bulletins and
As a leader in innovation, FNB continues to invest significantly in creating new platform-based capabilities and solutions to ensure that it stays ahead of changing market dynamics and evolving customer needs. Given the growing need to accelerate the shift from cash to digital and card payments, coupled with the phenomenal growth of eCommerce, the Bank
EMV® 3DS Version 2.3 expands support for digital channels and devices to help issuers, acquirers and merchants fight card-not-present fraud, while improving the consumer experience. Global technical body EMVCo has enhanced the EMV® 3-D Secure (3DS) Specifications to improve the consumer experience and fraud fighting capabilities for issuers, acquirers and merchants across e-commerce channels and devices. The latest version,
With the support of banks from both sides of the Atlantic, EBA CLEARING, SWIFT and The Clearing House (TCH) have joined forces to make cross-border payments as seamless as the fastest domestic payment options. The three private-sector, member-owned companies have completed a proof of concept as part of a new initiative, Immediate Cross-Border Payments (IXB),
Sanlam, Africa’s largest non-banking financial services group, and Absa, one of Africa’s largest diversified financial services groups, have announced that they have reached an agreement to combine their investment management businesses in a transaction which will result in an asset management company with assets under management, administration and advice in excess of R1 trillion. The
Thunes, a global leader in cross-border payments, announced the launch of a new service corridor for users of M-Pesa Tanzania, enabling Tanzanians to seamlessly move money from their M-Pesa mobile wallets directly to any bank account in Kenya and Rwanda. Thunes and M-Pesa Tanzania have been working together since 2018, with M-Pesa Tanzania using Thunes’ cross-border payments network to
