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South Africa

99 000 SASSA Grant Beneficiaries Still to Collect New Cards

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 Read More →

Prudential Authority Imposes Administrative Sanctions on Bidvest Bank Limited

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 Read More →

Investec and BankservAfrica Reveal Prototype of Blockchain-Based Identity System

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 Read More →

South Africa’s TymeBank Chooses Finn AI for Conversational AI

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 Read More →

Bank Zero has Officially Implemented its EFT Payments Capabilities

Bank Zero has officially implemented its powerful EFT payments capabilities and started full end-to-end Beta testing ahead of the bank’s launch in the second half of 2019. Bank Zero is Read More →

Spaza Shop Fintech Closes a Gap in this R40bn Cash Market

It is estimated that the spaza shop market in South Africa is valued at around R40 billion per year and that 90% or more of the transactions are in cash. Read More →

NatSave and Mastercard Sign Strategic Agreement to Drive Digital Transformation and Financial Inclusion in Zambia

The National Savings Bank (NatSave) and Mastercard have signed a strategic partnership agreement, which will see the bank rollout Mastercard Chip and PIN prepaid and debit cards to provide its Read More →

FSS Makes Strategic Investment in Africa-based Ecentric Payment Systems

FSS (Financial Software and Systems), a global PayTech company, has announced a strategic investment in Ecentric Payment Systems, a Standard Bank subsidiary and a leading payment processor in South Africa. Read More →

Capitec Bank Poised to Expand its Payments Business Through ACI Worldwide’s Retail Payments Solution

ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, has announced an extension of its long-standing relationship with Capitec Bank, South Africa’s second largest retail bank. Read More →

Youth Prefer to Bank Smart with Digital Channels

Statista.com, the global statistical data portal estimates that the number of smartphone users in South Africa will reach 22 million in 2019. This is in line with FNB’s data which Read More →

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