Airtel Kenya is set to launch a mobile loans service to challenge Safaricom’s M-Shwari, more than a year after a partner sued Safaricom for allegedly stealing the idea. Airtel originally partnered with microfinance firm Faulu Kenya in May 2012 to launch Kopa Chapaa, aimed at advancing loans facilities via mobile phones, with Safaricom launching M-Shwari
According to TechZim, Telecel Zimbabwe’s mobile money service, Telecash, will finally be launched in Harare this week. The service, which we’re told will launch without fail this time, was initially scheduled to launch in the 4th quarter of 2013 but faced serious delays. The Telecash product is a result of Telecel realising how big a
Kenya, South Africa and Nigeria, and the African continent as a whole, lead the world in the uptake of mobile banking, according to a new report by mobile trade association MEF. The first report in MEF’s Global Consumer Insights Series on Mobile Money said 82 per cent of consumers in Africa engaged in mobile banking,
Hagens Berman Sobol Shapiro LLP, a consumer-rights law firm, has announced it is investigating a breach of customer data at Neiman Marcus stores following the chain’s disclosure on January 13, 2014, that its Point of Sale (POS) system and more than 1.1 million debit and credit cards may have been compromised. The company disclosed that
Gerrie Fourie, Capitec Bank’s new CEO, starts his year on a high-note after a strong performance in 2013, but with ambitious plans to take the bank to new heights. Gerrie plans to focus on the continued delivery of friendly, simplified and pioneering banking, but with an even stronger focus on innovation to meet clients’ everyday
WorldPay, a payment processing, risk and alternative payments has launched ‘Your Global Guide to Alternative Payments (Second Edition)’, an in-depth study of the global payment landscape. The study found online purchases made using alternative payments (any form of payment other than credit or debit cards) will rise to 59% in 2017 from 43% in 2012.
Global commerce platform and payments leader eBay Inc. has reported that revenue for the fourth quarter ended December 31, 2013, increased 13% to $4.5 billion, compared to the same period of 2012. The company reported fourth quarter net income on a GAAP basis of $850 million, or $0.65 per diluted share, and non-GAAP net income
SWIFT announced the creation of a global Know Your Customer (KYC) Registry, a centralised utility for the collection and distribution of standard information required by banks as part of their due diligence processes. Based on a collaborative industry-wide approach, the new utility will help banks to manage compliance challenges and reduce the high costs associated
The Kenya Bankers Association have released the findings of their latest survey which looks at the interplay between banks, mobile network operators and agency banking. The survey shows that a majority (60%) of Kenyans are utilising mobile phones to perform financial transactions, which has been helped by increased commitment by banks to offer mobile banking
OLX, the online classifieds site in fast-growing markets around the world, has announced that its mobile app has been downloaded more than 14 million times. With 123 million unique monthly visitors in 107 countries worldwide, OLX has quickly become the dominant player in emerging markets such as India and Brazil, where the company enjoys a
