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

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

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

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

ACCOSCA and Visa Launch a Project to Boost Financial Inclusion in Kenya and Tanzania

In a bid to improve the access and usage of formal financial services among underserved communities and small businesses in Kenya and Tanzania, ACCOSCA (the African Confederation of Co-operative Savings and Credit Associations) and Visa, a global leader in digital payments, have partnered to launch the Financial Inclusion in Kenya and Tanzania (FIKT) project. The

Futurebank and Paymentology Forge Strategic Partnership to Deliver Instant Issuance and Advance Modernisation Benefits

Open banking and Embedded Finance platform, FutureBank, has announced a partnership with leading global issuer-processor, Paymentology, to provide banks and fintechs with streamlined integration to modern card issuing and processing technology, enabling instant issuance of virtual cards. Paymentology provides banks, fintechs and telcos with the technology to issue and process any type of physical or

Global Purchase Volume Hits $42.7 Trillion as Economies Recover From Pandemic – RBR

Payment card spending increased by 1% in 2022 as growth in credit and prepaid volumes counteracted a fall in debit card expenditure Post-pandemic recovery drove overall growth in global purchase volume A brand-new report by RBR Data Services, a division of Datos Insights, reveals that growth in purchase volume in 2022 was driven by increasing

Visa and Swift Team Up To Enhance Transparency, Speed and Security in Global B2B Money Movement

Visa and Swift today announced a collaboration to streamline international business-to-business (B2B) payments by strengthening connectivity between their networks that move trillions in value globally. Working together, the organizations aim to provide financial institutions and their customers with more choice when sending money across borders, while improving the end-to-end speed and transparency of their transactions.

Navigating Quantum Uncertainty in the Payments Industry – Stanchion Payments

The need for organisations to protect themselves against quantum threats to cybersecurity is becoming increasingly important as quantum-computing technology advances. Quantum computers have the potential to break many of the encryption techniques currently used to secure data, and this poses a significant risk to organisations in the payments industry. Understanding Quantum Threats in the Payments

A Record 1,490 Fintech’s Entered the Ecobank Fintech Challenge 2023 with Eight (8) Reaching the Final

Over 1,400 Fintech startups from 64 countries across Africa and beyond applied for this year’s Ecobank Fintech Challenge with eight of them making the cut to the final where they will compete for the ultimate prize. This is the sixth edition of this international competition, with the highest number of applications on record. Ecobank Group,

Geopolitical Dynamics Reshaping the Cross-Border Payment Landscape

By Harsha Maloo, Head of Payments at Synthesis The evolving cross-border payment landscape is witnessing noteworthy developments beyond traditional systems. One notable trend is the plan by BRICS countries (Brazil, Russia, India, China, South Africa) to establish their own currency. For over a decade, the BRICS nations have been seeking to reduce their reliance on