The growth in e-commerce transaction volumes and the increased adoption of mobile phoned the way consumers are now shopping has changed. With this in mind, Visa recently released an overview of best practices for mobile issuers. Compared to traditional e-commerce from a laptop or PC, browser based mobile commerce (m-commerce) is still in its infancy
The PCI Security Standards Council (PCI SSC), an open global forum for the development of payment card security standards has testified before the U.S. Senate Subcommittee on National Security and International Trade and Finance. The Council was asked to participate in the hearing on “Safeguarding Consumers’ Financial Data” because of its role in designing and
The number of people receiving money in KZN via FNB’s eWallet grew by 89.3% in 2013, showing that mobile money is fast becoming an accepted replacement for person to person cash payments. KZN is second behind Gauteng for most receipts of money via FNB eWallet. There was over R500 million withdrawn from eWallets in the
South Africa’s National Treasury has published its Electronic Services Regulations for public comment, following last year’s budget requiring foreign businesses supplying e-books, music and digital services to register as value-added tax (VAT) vendors. The regulations, according to the National Treasury, are part of the government’s bid to bring e-commerce under the VAT regime, as currently
The Bank of Tanzania (BoT) announced that the East African Payment System (EAPS) has started operating and will enhance cross border payments and boost trade within the region. The BoT governor, Prof Benno Ndulu, said in a statement issued by the Bank in Dar es Salaam that the EAPS was part of modernisation efforts of
MasterCard Incorporated has announced financial results for the fourth quarter of 2013. Excluding a special item, the company reported net income of $684 million, up 13%, and earnings per diluted share of $0.57 (adjusted for the company’s ten-for-one stock split), up 16%, versus the year-ago period. Including the special item, a $61 million after-tax charge
E-commerce platform Jumia Nigeria has announced Nicolas Martin and Jérémy Doutté as chief executive officers (CEOs), replacing former managing directors Tunde Kehinde and Raphael Afaedor who have decided to leave to start their own business. “To prepare for his new tasks, Nicolas Martin joined Jumia Nigeria a few months ago. Prior to this, he worked
Standard Bank Group (Standard Bank or the Group) and the Industrial and Commercial Bank of China (ICBC) have entered into a sale and purchase agreement in terms of which ICBC will acquire a controlling interest in Standard Bank’s London-based Global Markets business. ICBC will acquire, for cash, 60% of Standard Bank Plc, the Group’s UK
Ghana Interbank Payment and Settlement Systems (GhIPSS) has urged banks to issue more proprietary ‘local’ ATM cards to their customers. Historically most banks in Ghana would issue international cards, which had wider footprints than local options, but the introduction of the new national switch, gh-link, is set to change that. Gh-link is a new service
Kenya’s NIC Bank has announced the launch of NOW mobile banking, a platform that facilitates efficient, on-the-go financial services including online cheque deposits. The company has developed a mobile application and online banking service. “This strategic shift is an answer to the emerging “NOW” generation that demands everything on their fingertips. Through this strategy, we
