FNB’s eWallet is showing strong growth in its African operations with a 119% year-on-year increase in the last financial year. It has also maintained its growth trajectory in South Africa with the total number of eWallets in all countries reaching 2.5 million, an 84% increase on the previous financial year. “The success of eWallet in
As government, NGO and business leaders gather at the Financial Inclusion 2020 Global Forum in London, MasterCard president and CEO Ajay Banga emphasized the central role electronic payments play for advancing financial access. “Today’s payments technology – prepaid and mobile coupled with biometrics – brings millions of people access to financial tools for the first
The Kenyan banking industry has successfully upgraded its Automated Teller Machine (ATM) network following an industry wide initiative that was spearheaded by the Kenya Bankers Association (KBA), the industry umbrella body. In an effort to enhance ATM security in the country, KBA members have adopted the global standard known as EMV, which is based on
Zain Group, that operates in mobile telecommunications in eight markets across the Middle East and Africa, announced the signing of an agreement with renowned mobile solutions provider, SLA Mobile, to provide customers with Direct Operator Billing capabilities. Through this agreement Zain Group becomes one of the first operators in the region that will launch the
Ecobank Transnational Incorporated, the leading pan-African banking group, is pleased to announce the official opening of its Ethiopian representative office in Addis Ababa. This brings the total number of countries in Sub-Saharan Africa in which Ecobank has a presence to 35. The Group obtained a license to operate a representative office in July 2013. The
In its bid to continually improve banking services and ease customers’ experience, FirstBank is set to change the way consumers and merchants facilitate payment for goods and services using social and digital media. FirstBank in conjunction with 3AL limited has built a portal to provide various services which include retail, insurance products and e-ticketing solutions.
Equity Bank Group, Chief Executive Officer, Dr. James Mwangi has joined a pan African initiative that aims to promote private sector participation in infrastructure and intra-African investment. The initiative brings together over 150 of the continent’s most influential business and government leaders. The campaign is spearheaded by Africa investor, a specialist investment and communications firm
South African financial institution Standard Bank will be releasing an Android app next year, following the continued launch of its mobile device accessibility in various African countries in 2013. The bank has piloted its sales app and tablet technology in Ghana, Tanzania and Angola since 2012, continuing this year with releases in Zambia, Kenya, Botswana
Fast-growing transaction authentication innovator Entersekt is an increasingly powerful catalyst for change in online security, both in South Africa and other parts of the world. Founded in 2008 by graduates of the University of Stellenbosch, the software provider is one of the country’s recent entrepreneurial success stories. Headquartered in the Cape Winelands, it employs over
Absa has committed more than R550-million to improve and enhance its ATM network and expand convenient self-service banking facilities for Absa and non-Absa customers alike. Absa operates the largest ATM footprint nationwide with more than 9000 conveniently located ATMs. The investment has ensured that all ATMs have enhanced functionality and industry-leading availability and uptime. Enhancements
