Nigeria’s Access Bank aims to grow its customer base to 15-20 million across its African markets by 2018, from around 6 million now, as it shifts its focus to retail banking. Its incoming chief executive, Herbert Wigwe, who takes over at the end of the year, said retail banking will account for around 50 percent
MoneyGram, a leading global money transfer company, announced that it has signed agreements with Uganda Post Limited (Posta Uganda), and Tanzania Posts Corporation (Posta Tanzania), the most extensive providers of postal services in their respective countries. In Uganda, where the population nears 33 million and inward remittances are estimated at nearly 775 million, according to
ReD, a leading fraud prevention provider, has announced a new 5 year global partnership agreement with Peach Payments, to provide the ReD Shield® online fraud prevention service to ecommerce merchants in the high growth markets of Africa and India. Peach provides payment solutions to online and mobile businesses and specialises in supporting payments in the African
Standard Chartered Plc will start offering Islamic banking in Kenya as a springboard into the rest of Africa and it may expand services in Indonesia, its global head of Islamic consumer banking said. Shariah-compliant banking makes up two percent of Kenya’s banking industry, split between two Islamic lenders and conventional banks with Shariah-compliant products, like
MTN Uganda announced revised Mobile Money rates effective July 2nd, 2013. Commenting on this increment, the MTN Uganda’s GM Corporate Services, Anthony Katamba said, “According to the new national budget 2013/2014, the 10% levy on Mobile Money is to be applied on transaction fees paid on all money transfer services and as such the fee
MasterCard Worldwide is reaching out to US merchants and developers with Simplify Commerce™, a new product that makes it easy to accept e-commerce and mobile commerce payments, regardless of payment brand, in a matter of minutes. Merchants, especially those managing smaller businesses, do not always have the resources readily available to help them set up
The Government of Malawi announced that it is joining the Better Than Cash Alliance, committing to transition government cash payments to electronic disbursements. Malawi’s primary goals in shifting to e-money are to increase transparency, decrease costs, accelerate economic growth, and address poverty by increasing financial inclusion for all Malawians. “We have tried many different cash
MasterCard subsidiary, Access Prepaid Worldwide announces a new partnership with British Airways to launch a new Executive Club Multi-currency Cash Passport™. The partnership will allow British Airways Executive Club members to earn more Avios points, receiving one Avios point for every £1 loaded (or reloaded) onto the card. The travel card, which is available now,
Square, a point-of-sale company which developed credit card readers for the iPhone, iPad, and Android devices, has hired Gokul Rajaram, who was most recently the Product Director of Ads at Facebook, where he drove product development and execution for Facebook’s advertising products. As Square’s Product Engineering Lead, Rajaram will lead software development for Square Register, a
The latest MasterCard Online Shopping Survey has revealed that a substantial 91% of South Africans who shop online are highly satisfied with their overall experience, a 4% increase from the 87% who said the same thing in the 2012 survey. A further indication of South Africans’ positive sentiment for online shopping is that 76% of
