Virtual Card Services (VCS), a leader in developing and implementing credit, debit and smart card processing systems, has announced a strategic partnership deal with the multiple award-winning loyalty business Cashbackpoint. In a first for the African continent, the deal brings payment card linked cashback rewards to the online market. Consumers in South Africa can register
Listing of Mwalimu Commercial Bank (MCB), on Dar es Salaam Stock Exchange (DSE), is slated for next week. DSE officials and brokers said listing would be done next week for more convenience, since tomorrow the nation was going to celebrate the swearing in of the new president. The listing comes after successful primary offer that
Equity Bank Tanzania has posted net profit of 5.03bn/- in the year ended September 2015 compared to 1.52bn/- registered in the previous year. Also; the bank posted 1.14bn/- profit in the quarter ended September 2015 compared to 531m/- posted in the corresponding quarter 2014. Similarly, Equity group holdings limited has posted net profit of 256bn/-
The Co-operative Bank of Kenya has partnered with SimbaPay, a digital money transfer provider, to offer international money transfer services to the bank’s customers in the Diaspora. Co-operative Bank accounts receiving the funds will be credited instantly. The service is currently available for the UK-Kenya remittance corridor only and will be expanded to cover more countries
CRDB Bank posted a net profit of 38.57bn/- from its operations during the third quarter (July-September) of this year, up from 31.25bn/- recorded at the same period last year. The bank described the performance as historic success. The bank’s cumulative profit for the nine months of this year surpassed the entire net earnings of last
One only needs to take a quick look at a website like scambuster.co.za to get a first-hand sense of how prevalent payment crime and fraud is. Regardless of the platform; whether traditional classifieds, online trade sites like OLX or Gumtree, or simply the phishing scams that come to your inbox, payment crime and fraud are
Safaricom has introduced a new enhancement to M-PESA that will enable customers confirm the name of the intended recipient of funds, before completing an M-PESA transaction. ‘Hakikisha’ which has been under pilot for the last one month will be rolled out in phases with a view to covering the entire 21.7 million M-PESA customer base
Standard Bank Group has expanded its already extensive East African footprint with the official opening of a representative office in Ethiopia. This means that Standard Bank, which is Africa’s largest bank by assets, has a continent-wide footprint in 20 African countries. The representative office, which is based in Addis Ababa, was opened by Standard Bank
SwaziBank announced the launch of the MasterCard Festive Campaign in Swaziland, just in time for the festive season. The Campaign will reward the banks customers for purchases made on weekends only during the months of October to December 2015, when they use their MasterCard debit card for purchases at selected malls. SwaziBank customers will be
MoneyGram, a global provider of innovative money transfer services, and Econet Wireless, the leading mobile operator in Zimbabwe, announced the launch of a new service that enables customers from more than 200 countries and territories worldwide to transfer funds via EcoCash, Zimbabwe’s leading mobile money transfer solution. The new offering means that more than 4.9
