While there is no doubt that banks around the world fast tracked their digital transformation plans as a result of the pandemic, a report from Accenture posits that the rapid growth in digital services may have negatively affected innovation in the sector. In order to overcome this and truly innovate for the customer, local banks
In a bid to improve the access and usage of formal financial services among underserved communities and small businesses in Kenya and Tanzania, ACCOSCA (the African Confederation of Co-operative Savings and Credit Associations) and Visa, a global leader in digital payments, have partnered to launch the Financial Inclusion in Kenya and Tanzania (FIKT) project. The
Standard Chartered Kenya has announced a comprehensive suite of products for the Medium Enterprise segment as it responds to increasing demand for more sophisticated needs from its clients. The Bank will leverage its strong global network to serve the clients, tapping into enhance demand for trade in key corridors across Africa, Middle East, Asia, and
Mastercard and MTN Group Fintech have signed a multi-market agreement that will set in motion a new era of collaboration to connect millions of people and small businesses across Africa with digital tools to transact through secure mobile payments, expanding access to the benefits of the cashless digital economy. The partnership will use Mastercard’s cutting-edge
Paymentology’s cloud-first card issuing, and analytics platform commemorates 20 years of supporting the growth of Africa’s fintech, retail and corporate sectors through its on-soil processing payments solutions and enhanced tokenization services Paymentology, a leading global issuer-processor, today announces its 20-Year anniversary of dedicated on-soil processing and strategic investment across the Africa region. Paymentology originated in
Success in the digital payment space will hinge on the ability of new players and incumbents to converge the physical and digital experience into a seamless continuum for the customer. Extending the digital solution to a cash-based customer requires a “phygital” approach, writes Juan Seco, Chief Growth Officer at Mukuru. Digital wallet use, especially in
Xion Global, a Web3 payments provider, has announced a strategic partnership with Callpay, a major player in South Africa’s payments industry. This alliance aims to boost Web3 payments adoption in South Africa, blending Xion’s innovative technology with Callpay’s strong market presence. This partnership broadens payment options for customers, providing the convenience of Xion’s one-click crypto
Mastercard, a global technology leader in the payments industry, is deepening its commitment to addressing youth unemployment in South Africa. Today, the company announced that it will continue its partnership with YES, the highest-impact private-sector-led youth employment programme in the country. YES’s primary mission is to address the country’s youth unemployment crisis by empowering businesses
The benefits of open banking have been spoken about within the global banking sector for some years now. While some local banks have already made concerted efforts to embrace the innovation opportunities that come with open banking, global payments as a service (PaaS) specialist, Network International, believes there is room for a more collaborative mindset
Mastercard’s second annual Community Pass Customer Summit in Kampala, Uganda gathered more than 90 public and private sector partners, featured 20+ thought leaders dedicated to crafting sustainable solutions for digital and financial inclusion across Africa and beyond. This year’s summit showcased over 10 cutting-edge technologies and financial institutions, each presenting their digital solutions designed to
