Kenya’s consumer lending market, according to TransUnion Kenya’s Q1 2024 Market Analytics Report, reflected a mix of resilience and optimism in the first quarter of this year. This growth has been driven by lenders who, equipped with deeper insights and advanced tools, have adapted to the evolving regulatory environment. As a result, they are now
Mastercard and MTN Group Fintech have partnered to help consumers and small businesses across Africa transact through mobile payments. The companies said in a press release on Wednesday (Feb. 28) that with this partnership, Mastercard’s technology will support MTN’s FinTech platform, which has 290 million subscribers and 60 million active monthly MTN Mobile Money (MTN
Fintech SA has revolutionised the landscape for startups and small businesses that, two decades ago, had limited options for processing transactions, with cash being the only option for many. Startups by their very nature also lacked credit histories, making it difficult to apply for finance and leaving them vulnerable to unaffordable loans when seeking financial
KaiOS Technologies, a leading operating system that brings the best of the internet to affordable devices, today announced a collaboration with Mastercard to integrate various digital payment solutions. Beginning in Cote d’Ivoire and Nigeria, Mastercard, and KaiOS Technologies will deliver affordable payment acceptance devices and stimulate the growth of a more inclusive, connected global economy.
PalmPay, a leading financial platform with over 30 million users in Nigeria, has launched its USSD code service. This new feature allows Nigerians to manage their finances without needing internet access. By dialing *861# from their mobile phones, customers can now carry out a wide range of banking transactions. PalmPay, operating in Nigeria since 2019
Interswitch East Africa (Kenya) Limited has partnered with Elie Technologies to unveil a contactless payment solution for merchants and customers in Kenya. The solution, dubbed Tumatap, will enable Micro, Small, and Medium Enterprises (MSMEs) to accept contactless payments on smartphones, thus transforming the devices into point-of-sale (POS) systems without the need for additional hardware. The
RTP is scheduled to be implemented into PayShap later this year. Participating banks need to understand how this functionality benefits both them and their customers and prepare for this new phase. RTP, What is it? Not to be confused with Real-Time Payments, Request-to-Pay (RTP) is a secure message sent from the payee (creditor) to the
Mastercard hosted its inaugural Tanzania Industry Forum in Dar es Salaam, bringing together key stakeholders and thought leaders in the fintech industry to explore the dynamic financial and technology landscape and foster impactful collaborations in Tanzania. The event underscored Mastercard’s commitment to advancing economic growth through innovative digital payment solutions and strategic collaborations in the
Sabipay Technologies, a subsidiary of fintech Pesapal Limited, has been granted a payments system business licence by the Bank of Zambia. The fintech announced the development yesterday, stating that it signals a significant extension of Pesapal’s presence in the Zambian payments landscape. The payments system business license, according to Pesapal, is a crucial approval that
Africa Finance Corporation (AFC), the continent’s foremost infrastructure solutions provider, has announced a new equity investment from Rawbank, one of the leading banking and financial institutions in the Democratic Republic of Congo (DRC). This equity infusion aligns with AFC’s strategy to mobilise African capital and diversify its capital base, reinforcing the Corporation’s mission to deliver
Receive Regular news of the latest in payments straight to your inbox.
