RTP is scheduled to be implemented into PayShap later this year. Participating banks need to understand how this functionality benefits both them and their customers and prepare for this new phase. RTP, What is it? Not to be confused with Real-Time Payments, Request-to-Pay (RTP) is a secure message sent from the payee (creditor) to the
Ecommerce in South Africa: Retail has experienced profound transformation over the past few years, with digital platforms and ecommerce reshaping consumer expectations. However, we are just in the earliest phases of digital transformation, and SME retailers will need to be agile to keep up with emerging customer demands and new competitors. Steven Heilbron, CEO of
Evolving payments are reshaping the industry, and nurturing the right human-centered skills will profoundly impact the future workplace, explains Roshan Moonsamy, Chief Financial Officer at BankservAfrica. In recent years, new payment innovations have emerged, progressing at different rates and establishing distinct positions in the market. Propelled by new technologies, changing customer behaviour, and evolving regulations,
Sabipay Technologies, a subsidiary of fintech Pesapal Limited, has been granted a payments system business licence by the Bank of Zambia. The fintech announced the development yesterday, stating that it signals a significant extension of Pesapal’s presence in the Zambian payments landscape. The payments system business license, according to Pesapal, is a crucial approval that
Absa Group is extending pivotal partnerships in the digital space to offer clients continued seamless and innovative banking experiences. This strategic move ensures clients will benefit from enhanced features such as advanced machine learning algorithms and improved data analytics – technologies that are crucial to delivering faster, more accurate customer service and tailored financial solutions
Standard Bank is actively reducing its ATM presence across South Africa by introducing more efficient “new technology ATM devices” with higher capacity to better serve clients. In recent years, South Africa’s major banks have been reducing their physical footprint as customers increasingly adopt digital transaction channels. This has led to a reduction in the size
Account-to-account (A2A) payments are an online payment method that allows you to directly transfer money from one account to another without using third parties or alternative payment intermediaries, such as cards. Account-to-account payments aren’t new; they have been around since the 1970s. They are usually in the form of direct bank transfers at traditional financial
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
By Nicole Dunn, Co-founder and COO of Precium CrowdStrike, a leader in cybersecurity solutions, experienced a major service disruption due to a technical glitch in their cloud-based infrastructure. This unexpected downtime lasted for approximately 14 hours, leaving numerous businesses grappling with the fallout. Payment processing services were among the hardest hit, as many financial institutions
Mastercard has collaborated with Premier Bank, a Sharia-compliant commercial bank in Somalia, to launch Premier Payment Gateway, a digital payments platform that enables Somali businesses to accept international card payments for online purchases. This groundbreaking initiative is expected to significantly expand market reach, increase revenue for local businesses, and contribute to the growth of Somalia’s
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