The Shoprite cross-border money remittance product reached the R1 billion mark in January, after just three years of it being implemented between SA and Lesotho. The cost of a transfer of R900 is 2%, which is one of the cheapest cross-border products in the world. A remittance is when a person sends money, usually small
BP and Masana Petroleum Solutions are set to revolutionise commercial fuel payment and management for their customers, with the launch of a new solution BP FleetMove built on the advanced Payment24 platform. Payment24, advanced international fuel payment system, is the backbone of two new flagship fuel payment and fuel management offerings for BP and Masana
mHITs (pronounced Em-HITS), the leading Australian FinTech mobile remittance pioneer, has announced its Australian mobile remittance service Rocket Remit has launched money transfer services from Australia to three new African countries: Cameroon, The DRC and Mozambique. Rocket Remit specialises in international money transfer via mobile money offering the world’s fastest and simplest method for sending
TerraPay, the world’s first mobile payments switch, announced today that it has successfully obtained regulatory approval from South African Reserve Bank to launch Cross-border money transfer services in South Africa. This makes TerraPay the 5th company to be licensed as a category three Authorised Dealer in Foreign Exchange with limited authority, also known as ADLA
United Bank for Africa Mozambique (UBA) announced the launch of the first Mastercard debit card in Mozambique to financially empower its citizens. Focused on displacing cash, the electronic payment solution will deliver a quick, convenient and secure payment alternative for the Mozambicans – instantly. In line with the bank’s strategic vision, UBA is introducing innovative
Ingenico Group, the global leader in seamless payment, announced that Millennium Bim, the largest bank in Mozambique, has partnered with Ingenico Group to replace its current fleet of point-of-sales throughout the country. Millennium Bim selected Ingenico Group’s smart terminals for their flexibility, innovative capabilities, and compliance with the highest security standards. Beyond a banking application,
The latest version of the FNB Banking App for smartphones now offers customers the ability to send money across the border from South Africa to Zimbabwe and Mozambique. Since its launch three years ago, the banking App has seen rapid uptake in users and transactions, making the introduction of the cross-border money transfer service on
A year after launching its successful Zimbabwe Money Transfer service, FNB has added an additional affordable cross border service, this time to Mozambique. This service is available to qualifying FNB customers in SA to send money to residents in Mozambique instantly, through its Cellphone and Online Banking channels. “We have seen with the FNB Zimbabwe
Ecobank Transnational Incorporated and ProCredit Holding (‘PCH’) have announced that they have concluded negotiations for the acquisition of the 96% stake in Banco ProCredit Mozambique previously held by ProCredit Holding and the DOEN Foundation. The transaction has received the approval of the regulatory authorities in Mozambique and the Bank has started trading as Ecobank Mozambique,
