For a hassle-free experience, SASSA grant beneficiaries can switch their payments to a Shoprite Money Market Account and enjoy the many benefits offered by South Africa’s lowest-cost, fully-fledged, transactional bank account. Switching is free of charge, and there are no obligations to sign up for any additional services. The benefits of a Money Market Account
By Juan Seco, Chief Growth Officer and East Africa MD of Mukuru The recent GSMA 2023 State of the Industry Report on Mobile Money highlights how mobile money has become a mainstream financial tool in many African countries. Since 2022, more than 184 million people across the continent have embraced mobile money. The Sub-Saharan Africa
Selected Pick n Pay formats are ushering in a new era of shopping convenience and affordability with the launch of PayJustNow, one of the fastest-growing Buy Now Pay Later providers in South Africa. PayJustNow empowers customers to split payments into three convenient instalments – through a completely digital application process – which is free of
Mobile money and remittances will continue to dominate Africa’s economic development if they are supported with tools to boost data-driven transparency and compliance, according to a new whitepaper, released today, by Global Voice Group (GVG), a global provider of ICT and RegTech solutions for Governments and regulatory bodies. Data from the World Bank shows that
The African payments industry, by furnishing diverse, robust and user-friendly platforms, is catalysing entrepreneurship and financial independence, while also enhancing income for entrepreneurs. Over the past five years, mobile payments have seen tremendous growth in South Africa. As of 2023, the South African mobile payments market is estimated to be worth $25 billion, with a
With the holiday season fast approaching, many businesses are working on gift lists and incentives to thank employees and reward loyal clients. And while the reliable (if somewhat boring) box of chocolates is still appreciated by some, what better way to thank someone than to let them choose their own perfect gift? That’s just one
Legacy processes for offering, accepting, and using coupons are about to give way to a modern approach. With consumers doing more of their shopping with mobile devices, the legacy coupon standard, (AI) 8110, isn’t meeting the industry’s needs. Moreover, that standard is also increasingly vulnerable to fraud. A new universal coupon standard (A1) 8112 from
As of August 2023, Shoprite customers will now be able to purchase non-food items using leading digital credit provider, Mobicred. The fully digitised system will give shoppers access to credit offerings via their Money Market accounts, enabling them to pay off higher ticket items over a period of up to 12 months. Commenting on this
Paycorp, a leading provider of payment solutions, has been licensed as a direct clearing system participant by the South African Reserve Bank (SARB). This means Paycorp can now acquire payment transactions directly into the National Payments System through BankServ Africa and internationally through its principal memberships with Visa and MasterCard. As an independent non-bank participant
Banking as a Service (BaaS) and embedded finance enabler Ukheshe has partnered with Diamond Trust Bank (DTB) to provide an innovative BaaS platform in East Africa. BaaS, the provision of banking products and services through third-party distributors, is expected to grow at a compound annual growth rate of a whopping 25% in some markets, and
