Continuing its innovation stride and complementing the Bank’s many technology-led achievements, UAE’s leading financial institution Mashreq pioneers another UAE first with the launch of Tap n Go. This is the country’s first NFC (Near Field Communication) Sticker solution. The Tap n Go Sticker makes low-value purchases exceedingly simple by converting any mobile phone of any
Over half of Tanzania’s adult population currently have access to financial services compared to just 27 per cent in the year 2009, thanks to mobile phone money services which central bank boss Prof Benno Ndulu also describes as ‘electronic wallet.’ The improvement, which stands at 57 per cent of the population above 16 years old,
Econet Services has officially launched a new product called EcoCashLoans, an extension of EcoCashSave at an event held at Holiday Inn in Harare this morning. EcoCashLoans, just like EcoCashSave will be administered by Steward Bank. EcoCashLoans is a service that allows EcoCashSave customers to borrow amounts from $5 to $500. Initially, the EcoCashLoans tenure will
Vodafone M-Pesa – the mobile money transfer and payment service that has transformed the lives of millions of people in emerging markets – has come to Europe for the first time. M-Pesa, which launches in Romania today, will offer simple, safe and secure mobile money transfer and payment services to approximately seven million Romanians who
Global Payments, a provider of payment solutions, has announced that it will implement MasterPass, a digital payments service that allows consumers to use any payment card or enabled device for an enhanced shopping experience. The new service will provide Global Payments North American merchants the ability to offer their shoppers a convenient and flexible way
The Tanzania Communications Regulatory Authority (TCRA) has commended continued technological growth in the country’s mobile phone industry. TCRA Managing Director, Prof. John Nkoma, said in Dar es Salaam: “This growth has so far done a great job in improving Tanzania’s economy, as well as social development.” Prof. Nkoma was speaking at an event that saw
Airlines will increase their focus on new distribution channels such as mobile and social media over the next two years, according to WorldPay’s Alternative Payment and Distribution Landscape: Airline Distribution Channels report. WorldPay, a global leader in airline payment processing and settlements, surveyed 68 global carriers (from low cost to traditional), and found that 83%
Zimbabwean mobile money platform Telecash has seen the number of agents and merchants utilising the service rise 63 per cent, from 1,600 to 2,600, since it was introduced at the end of January. HumanIPO reported earlier this year mobile operator Telecel had launched Telecash, allowing subscribers to use their phones as a digital wallet to
South African startup TuYu is claiming to be the “pioneer” in the country’s mobile corporate reward and incentive industry, having developed an all-encompassing solution to fit a variety of needs and budgets. TuYu’s aim is to allow its clients to receive and redeem rewards in a secure and convenient manner by using their mobile phones.
Extending the benefits of electronic payments to people who have been financially excluded is especially important in Africa, where less than a quarter of adults have a financial product or bank account with a formal financial institution, and about 90% of all consumer payments are conducted in cash. Traditional bricks and mortar banking infrastructure needed
