Interswitch Transnational, a leading pan-African integrated payments company with operations in Nigeria and a growing presence in West and East Africa, announces that its Switching and Processing division (“Interswitch S & P”) has completed an acceptance and acquiring third party payment processing integration with UnionPay International. As a result of this integration, UnionPay cardholders from
MoneyGram, a leading global money transfer company, announced that it has signed agreements with Uganda Post Limited (Posta Uganda), and Tanzania Posts Corporation (Posta Tanzania), the most extensive providers of postal services in their respective countries. In Uganda, where the population nears 33 million and inward remittances are estimated at nearly 775 million, according to
Standard Chartered Plc will start offering Islamic banking in Kenya as a springboard into the rest of Africa and it may expand services in Indonesia, its global head of Islamic consumer banking said. Shariah-compliant banking makes up two percent of Kenya’s banking industry, split between two Islamic lenders and conventional banks with Shariah-compliant products, like
MTN Uganda announced revised Mobile Money rates effective July 2nd, 2013. Commenting on this increment, the MTN Uganda’s GM Corporate Services, Anthony Katamba said, “According to the new national budget 2013/2014, the 10% levy on Mobile Money is to be applied on transaction fees paid on all money transfer services and as such the fee
The Government of Malawi announced that it is joining the Better Than Cash Alliance, committing to transition government cash payments to electronic disbursements. Malawi’s primary goals in shifting to e-money are to increase transparency, decrease costs, accelerate economic growth, and address poverty by increasing financial inclusion for all Malawians. “We have tried many different cash
An innovative new banking idea is taking hold in Zimbabwe. At Zimbabwe’s first Cattle Bank you can deposit animals as collateral against cash loans. A large portion of rural Zimbabwe is still unbanked and many people hold their wealth in the cattle they own. The Cattle Bank allows them to get and utilise monetary value
TNM has sealed a deal with the Electricity Supply Corporation of Malawi (Escom) which will see TNM customers paying their Escom bills or buying electricity units through TNM Mobile Money or mobile payment service also known as ‘Mpamba’. The signing ceremony took place at Protea RyaIls Hotel in Blantyre. Speaking during the ceremony, TNM Chief
M-PESA, the flagship brand of the leading integrated communications service provider Safaricom Limited, has now set its sights on the medium and small entreprises with the launch of Lipa Na M-PESA- a campaign aimed at entrenching the use of its payment services as primary tool of transactions. Lipa na M-PESA is an umbrella service for
Aftab Currency Exchange, a remittance and foreign exchange brand with a presence in three continents, has strengthened its bonds with Airtel Communications, a leader in global payments services to extend joint operations in Kenya and Nigeria. Aftab Currency has taken another initiative with Fidelity Bank with an active network of 173 branches across Nigeria to
Professor Dan Horne, Chief Knowledge Officer at Gx, in conjunction with Dionne Nickerson of Providence College, has recently published a white paper called ‘Understanding the Drivers of Mobile Payment Adoption: Comparing Kenya and Tanzania’. The study looks at the perceived impact on business development and wealth creation that pervasive mobile payments usage generates and compares
