It has come to the knowledge of the Bank of Mauritius that skimmed/cloned cards are in circulation and fraudsters are trying to use them on banks’ ATMs. Card skimming is the illegal copying of information from the magnetic strip of a credit or ATM card. This involves stealing information off a credit card during a
Airtel Networks Zambia Plc, a telecommunications service provider in Zambia and Nico Insurance Zambia Limited, have signed a partnership agreement that will enable customers to pay for their insurance using Airtel Money. From today, Airtel customers will be able to pay for their Insurance to Nico Insurance Zambia Limited using their “Airtel Money” accounts. This
The Acting Registrar of Cooperatives in the country, Dr Audax Rutabanzibwa, has commended farmers in the region for establishing the Kagera Farmers’ Cooperative Bank (KFCB), urging them to utilise its services effectively. He noted that the KFCB was exemplary and had made big strides during eleven years of existence, urging shareholders to increase their shares
B-PESA has inked deals with UnionPay, a move that gives the newly introduced prepaid bank loop card a wider operating territory outside Tanzania, covering 1.6 million ATMs and over 12 million merchants in 142 countries. Apart from UnionPay, many Tanzania based banks have expressed interest in partnering with Smart Banking Solutions (SBS) – the company
AfrAsia Bank and MasterCard introduce Africa’s first travel rewards program offering real time booking on over 450 airlines and at 200,000 hotels to its World and Titanium MasterCard cardholders. In collaboration with Infinia Services & Solutions and MasterCard, this travel rewards program enables cardholders to earn XtraMiles whenever they swipe their World or Titanium MasterCard
Smart Banking Solutions Limited (SBS) has introduced the first prepaid bank grade closed loop card of its kind in Tanzanian market, named B-PESA. Speaking shortly before unveiling the B-PESA card at a ceremony held in Dar es Salaam on Wednesday, the SBS Managing Director Mr Gustav Vermaas said the card allows a customer to transact
Barclays Bank of Kenya has unveiled a new cardless money transfer service that allows customers to send and receive money at any Barclays ATM. The service, named “CashSend”, will allow Barclays Bank of Kenya account holders to securely transfer money to mobile phone subscribers. Transactions will originate from Barclays ATMs, with recipients similarly withdrawing their
Bank of Tanzania (BoT) is out to hook ‘unbankable’ population to the financial services at affordable costs at a time when penetration is around 14 per cent. The BoT and financial inclusion stakeholders will launch a National Financial Inclusion Framework on Thursday, an occasion expected to be graced by Queen Máxima of the Netherlands and
Equity Bank and American Express have announced a partnership agreement, through which Equity Bank will act as the exclusive issuer of American Express Card products in Kenya, Tanzania and Uganda. As part of this agreement, Equity Bank will also acquire merchants on to the American Express network in these countries. Equity Bank will begin issuing
Tanzania is considering operating its bank payments system on Saturdays, allowing customers to transfer money around, with traders remaining confident that the move would not affect banks’ trading positions. The opening of real time gross settlements (RTGS) will allow banks’ customers to move money from one account to the next, a departure from the present
