Common Monetary Area Countries Move to Regularise Electronic Funds Transfer Payments

Posted on by kara | 881 Views | 12 min read

As of 30 September 2024, low-value electronic funds transfers (EFTs), debit and credit payments made between Common Monetary Area (CMA) countries, namely Eswatini, Lesotho, Namibia and South Africa, will be treated as cross-border transactions and subject to greater due diligence requirements. Previously, these low-value retail payments were treated as domestic payments, with the four CMA

Interswitch and ACI Worldwide Deepen Strategic Partnership to Revolutionize Africa’s Payments Landscape

Posted on by kara | 2843 Views | 14 min read

Africa’s payments ecosystem has undergone significant transformations in recent years, driven by technological advancements, changing consumer behaviour, and the evolution of fintechs. In this evolving landscape, Interswitch Group, one of the continent’s leading integrated payments and digital commerce companies, has reinforced its longstanding partnership with ACI Worldwide, a global leader in real-time payments software, to

The Future of Cross-Border Payment: Traditional vs Digital – Verto

Posted on by kara | 3429 Views | 14 min read

As the world of finance evolves into the digital age, businesses now have the luxury of choosing platforms that offer convenience and efficiency in managing their finances. Companies dealing with clients in other markets can opt for digital payment systems for cross-border transactions, which promote speed, safety and cost savings. Africa is experiencing an increase

Mama Money Partners With Access Bank and Paymentology to Launch New WhatsApp-Powered Bank Card

Posted on by kara | 8590 Views | 10 min read

Paymentology the leading next-gen global issuer-processor, today announces its partnership with Mama Money, one of Africa’s leading cross-border money transfer operators, and Access Bank, to launch a pioneering new bank card service that stands out for its innovative use of WhatsApp banking. Through its integration with WhatsApp, the Mama Money Card allows you to transfer

American Express and Ecobank Group Sign Agreement to Expand American Express Acceptance in 21 Countries in Sub-Saharan Africa

Posted on by kara | 21442 Views | 9 min read

American Express and Ecobank Group (www.Ecobank.com), the leading pan-African financial services Group, announced an agreement to significantly expand American Express Card acceptance in twenty-one countries across Africa. Through this agreement, American Express Card Members will be able to use their Cards in twelve new countries: Burundi, Central African Republic, Gabon, Guinea-Bissau, Liberia, Malawi, Mali, Niger,

Access Bank Group and Mastercard Join Forces to Expand Opportunities for Cross-Border Payments for African Businesses and Consumers

Posted on by kara | 8823 Views | 13 min read

A leading multinational bank, Access Bank Group, has today launched an innovative solution in collaboration with Mastercard to expand access to cross-border payments and remittances to and from the continent, bringing Africa closer to the global economy. By leveraging the network and treasury capabilities of Mastercard Move, Access Bank, through its cutting-edge Access Africa platform,

International Supervisory Community Meets to Discuss Challenges Ahead for Global Bank Supervision and Regulation – BIS

Posted on by kara | 11709 Views | 13 min read

International Conference of Banking Supervisors endorses the revised Core principles for effective banking supervision. Basel Committee agrees to consult on guidelines for strengthening banks’ counterparty credit risk management. Agrees to publish an analytical report on the digitalisation of finance. Over 220 central bankers and banking supervisors representing more than 90 jurisdictions met on 24-25 April

African Development Bank, Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) Combat Money Laundering and Terrorism Financing in Africa Through New Project

Posted on by kara | 9322 Views | 8 min read

Distributed by APO Group on behalf of African Development Bank Group (AfDB). The African Development Bank and the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) on Thursday officially launched a three-year support project to combat money laundering and terrorism financing in their member countries. The project, titled “Capacity Development for Anti-Money Laundering

PalmPay Drives Financial Inclusion With Cost-Saving Benefits for Users

Posted on by kara | 12204 Views | 10 min read

In its continued drive for financial inclusion across Nigerian communities, Africa-focused fintech platform PalmPay has unveiled two cost-saving financial products – Unlimited Free Transfer and Target Savings – for users of its app. With the new financial products, users of the PalmPay app can now enjoy unlimited free transfers to all banks in the country

Harnessing the Potential of Mobile Payments in Africa – Halo Dot

Posted on by kara | 100521 Views | 14 min read

Financial inclusion remains a critical barrier across Africa. A considerable segment of the population remains alienated from basic banking services. Yet, the arrival of mobile payment technologies, like Halo Dot, promises to bridge this gap. Halo Dot’s innovative approach turns mobile devices into secure, encrypted payment terminals, allowing for instant card payments without the need