Tangazoletu Limited, a Kenyan ICT firm that develops and provides innovative, versatile and reliable ICT & Mobile Solutions won the Think Business Banking Awards 2015 in the Special Award for Product Innovation for their product, Spot Cash. The Banking Awards 2015 were the tenth celebration of the achievements of the banking sector. This year’s theme was “Innovating banking
The revolutionary mobile banking product launched last month between KCB and Safaricom, dubbed KCB–M-PESA has hit a major milestone by reaching 1 million accounts, just a month after it was launched. The account signed their 1 millionth customer this week with both firms indicating that the mobile financial product has in excess of KShs. 700Million
National Bank has announced a strategic partnership with the Defence Forces Canteen Organization (DEFCO), to provide Agent banking facilities within the barracks as the bank seeks to enhance its distribution networks across the country. The bank will partner with 27 DEFCO shops across the barracks on Agent banking where customers will be able to withdraw, make deposits, check balances,
National Bank of Kenya (NBK-NSE) has officially opened its ATM network for nationwide sharing aiming to attract millions of cardholders from other banks, in a new partnership with Kenya’s largest interbank ATM aggregator- PesaPoint. Following launch of this service, ATMs belonging to National Bank effectively become part of PesaPoint meaning cardholders from all other PesaPoint
Customers of M-Pesa and MTN Mobile Money in East Africa will be able to transfer money to each other following an agreement between Vodafone Group and MTN Group to interconnect their mobile money services. This interconnect collaboration between the region’s two biggest mobile money operators will enable convenient and affordable international remittances between M-Pesa customers
Safaricom has announced that it has started final preparations for the launch of the second generation of its M-PESA platform as it prepares to perform a full scale system upgrade aimed at improving efficiencies and speed over the next week. Safaricom had first announced plans to replace its M-PESA platform last year, seeking to migrate
The shareholders of Equity Group Holdings (formerly Equity Bank Limited), have approved a raft of resolutions to set the foundation for the firm’s pan African expansion initiative The approvals, which were secured during the firm’s 11th Annual General Meeting (AGM) held today now places the Group on the path of a continental expansion of its
The Cost of Chargebacks Though accepting credit card payments is beneficial to a business, chargebacks can cause major drawbacks. We covered a few aspects of the chargeback process here and here. In this post we’ll discuss how to avoid chargebacks. If a customer disputes a transaction for one reason or another, the merchant will have
It can sometimes be difficult to totally avoid chargebacks. In light of this its best for a merchant to understand how the chargeback process works and what to expect when a chargeback request against you is requested by a cardholder. Before we look at the process, here are some of the terms you need to
Accepting credit cards as payment in your business transactions is a very promising concept. You can increase your revenue, your customer base and improve productivity. Getting a merchant account to be able to accept cards for payments adds convenience, cost-effectiveness and a gives the impression that your business is professionally run. If you have already
