Mpesa, a wildly successful payment platform contractually licensed to Safaricom, has prospered at the expense of what would have been banking services. Kenya’s banks have taken a back seat as Mpesa leads the payments market. It wasn’t always like this. Over the past decade, mobile financial services evolved, greatly benefiting from an easy to scale
Amana Bank, the First Islamic Bank in Tanzania and Umoja Switch will sign a memorandum of understanding (MoU) to establish ATM Card service. Speaking at a dinner party prepared for the corporate, medium and small Amana Bank customers here over the weekend, the Amana bank’s Marketing and Delivery Channels Manager, Mr Dassu Mussa said that
First National Bank (FNB) Tanzania has asked Tanzanians to cultivate the culture of saving that provides significant source of capital and a tool to alleviate poverty. “Saving is an important tool that can provide variety of benefits to both an individual and the nation as source of capital and investment,” said the FNB Head of
The African chapter of the ATM Industry Association has published a commissioned study on retail payment trends in South Africa for its online member Market Intelligence Library. “With 12 million new consumers added to the economy in the last ten years, along with an expanded banked community, the payments pie is getting bigger and bigger,”
Fundamo founder, Hannes Van Rensburg, generally considered the father of mobile payments, has joined the advisory board of Nomanini, a South African-based, enterprise technology transactions platform provider, saying the company is well placed to be a market leader within a niche space. The company’s platform facilitates cash transactions in informal markets, allowing enterprises to bolster
Standard Chartered Bank said yesterday its global network of employees and clients will create awareness about the United Nations’ programme ‘Global Goals for Sustainable Development’. UN’s Global Goals is series of 17 ambitious goals that targets to end poverty, fight inequality, injustice and tackle climate change for everyone by 2030. The bank is proud to
Beyonic, a technology company that aims to eliminate the rampant use of cash in emerging markets, is announcing a partnership with Mobile Accord that will make Beyonic the largest mobile money aggregator in Africa. Beyonic currently operates in Uganda and Kenya, and will leverage Mobile Accord’s expertise in building mobile solutions and relationships with leading mobile
Frost & Sullivan, a leading global market research and growth consulting firm, has acknowledged iVeri Payment Technologies for demonstrating technological innovation in Sub-Saharan Africa’s (SSA) banking industry. iVeri has earned the prestigious Frost & Sullivan 2015 Technology Leadership Award for its two exciting banking solutions, Payment Gateway and MicroBank+. Payment technologies in Africa have a
CRDB Bank has launched customer service week, a special period of year for the bank to meet and get feedback from its customers. During the event, CRDB Bank donated and handed over various medicines and other health facilities worth 15m/- to fight the outbreak of cholera in Kinondoni Municipality in Dar es Salaam. The outbreak
Airtel Tanzania announced the distribution of over 5bn/- to its active Airtel mobile money customers and agents across the country. The move to distribute the interest accumulated in Airtel Money trust account will enable active Airtel Customers to receive a substantial amount of money. The amount paid to Airtel Money customers is based on their
