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American Express Launches vPayment in South Africa

American Express has launched vPayment in the South African market, offering travellers and travel agents a safe, simple and reliable way to pay for their travel bookings. vPayment controls and streamlines Read More →

Tribunal Approves Merger Whereby Absa Bank Acquires Société Générale SA

The Tribunal has approved a large merger, without conditions, whereby Absa Bank Ltd (Absa) seeks to acquire Société Générale SA (SocGen) Johannesburg branch in respect of target assets. Absa is a Read More →

WorldRemit Launches New Product for Business Payments to South Africa

Through the WorldRemit website and app SMEs can now quickly and securely transfer money to pay employees and contractors in 140 countries including South Africa.

Leading digital money transfer Read More →

Standard Bank Introduces New Bank Account – MyMo

Standard Bank is leveraging its digital capabilities to create superior digital platforms that enhance customer experience and enable easy and affordable access to banking services. As part of this, the Read More →

SARB Report on Stakeholder Feedback on Reform of Interest Rate Benchmarks in South Africa

Following the release of the 'Consultation paper on selected interest rate benchmarks in South Africa' (Consultation Paper), the South African Reserve Bank (SARB) embarked on a public consultation process Read More →

Online Banking Fraud Keeps Banking Ombudsman On Its Toes Two Years Running

The Ombudsman for Banking Services (OBS) has released its Annual Report highlighting some interesting statistics for its operations for 2018. Key highlights for the year are:

Apis and Crossfin-led Consortium Announces the Acquisition of Sureswipe

  • A consortium led by Apis Growth Fund I, a private equity fund managed by Apis Partners LLP, and Crossfin Technology Holdings, a fintech investment company announced today the acquisition Read More →

Absa PMI rose to 47.2 index points in April

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose by 2.2 points to reach 47.2 index points in April. This was the first increase after three months of declines in Read More →

SARB Announces the Adjustment of Interchange Rates for Transactions Emanating from ATMs

The purpose of this communiqué is to announce the adjusted interchange rates for automated teller machines (ATMs). The South African Reserve Bank (SARB) annually reviews interchange rates for transactions emanating from Read More →

African Bank Launches its Transactional Banking Offering called MyWORLD

African Bank has officially launched its transactional banking offering called MyWORLD, to South Africans. The introduction of MyWORLD has elevated African Bank to a digital retail bank, offering a variety of Read More →

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