Interswitch, a leading Pan-African integrated payment provider has launched a new USD 10 million ePayment Growth Fund. The fund is intended to serve as a catalyst for funding innovation and disruptive business concepts within the payment industry across Africa. Interswitch is seeking to collaborate with African entrepreneurs and start-up businesses developing innovative products and services
Equity Bank Kenya has announced the launch of a prepaid card in conjunction with MasterCard. The card, which is readily usable to pay for bus fare in Kenya in line with the recent government directives on cashless bus fare payment system is more than a travel card. It is an all-purpose card that will be
The business community in East Africa has been assured of getting cash and perform transactions digitally, thanks to the initiative of ‘Umoja Switch’ across the region, which is Tanzania’s network of Automatic Teller Machines (ATMs) and Mobile Banking. The region has in the recent years made huge gains in intraregional trade and increased movement of
Access Prepaid Worldwide, a subsidiary of MasterCard, has launched the MasterCard Multi-currency Cash Passport mobile app providing Multi-currency Cash Passport cardholders with added convenience when managing their accounts from anywhere in the world. Available for Apple and Android operating systems, the free app allows users to easily transfer money between purses, review transactions, and track
The African Export-Import Bank (Afreximbank) has received strong commendation for its strategy of providing support to African financial institutions to improve the trade finance services they offer to African businesses. John Mushayavanhu, Group Chief Executive of Zimbabwe-based FBC Holdings Limited, speaking when he led a delegation of the company to the Afreximbank Headquarters in Cairo
NMB Bank has started offering its services through the MaxMalipo agency banking, in a bid to reach more customers. The development comes after a successful piloting of the project in Kigamboni-Dar es Salaam, Dodoma and Arusha regions. This was unveiled at the weekend by the NMB Information Officer, Ms Doris Kilale, at the promotion held
Gemalto, the world leader in digital security, releases the latest findings of the Breach Level Index, revealing that more than 1,500 data breaches led to one billion data records compromised worldwide during 2014. These numbers represent a 49% increase in data breaches and a 78% increase in data records that were either stolen or lost
2015 will see many more new e-commerce start-ups along with continued growth and innovation by established niche players, predicts PayGate CEO Peter Harvey. “Five years ago we’d load ten start-ups onto our payment gateway for every established business; now the ratio is more like 100 to one,” says Harvey. “The sluggish job market in traditional
The National Microfinance Bank (NMB) Managing Director, Mr Mark Wiessing, completes his tenure as CEO of the firm on February 28, this year, it was announced in Dar es Salaam. NMB Board of Directors Chairman, Professor Joseph Semboja, said Mr Wiessing would be replaced by Ms Ineke Bussemaker. He said Mr Wiessing has been appointed
Wallet One South Africa has launched W1 Checkout, a payment aggregator for e-commerce merchants and service providers, enabling them to offer customers an increasing number of online and cash payment methods with immediate, safe and secure processing. Electronic payments are processed through Wallet One’s PCI DSS certified payment gateway and 3D secure acquiring partners. Cash payments for online purchases are
