A survey by Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions, has revealed that more millennials than ever before are seeing mobile as the future of payments. The results of the survey show that 27% of millennials see themselves using their mobile phone as their primary
South Africans can now use Masterpass, a global digital payment service by Mastercard, to pay for goods and services at over 20,000 Zapper merchants in South Africa using their smartphones. Zapper users, meanwhile, will be able to use the Zapper app to make mobile payments at nearly 50,000 Masterpass-enabled merchants nationwide. This follows a collaboration
A new study from Juniper Research forecasts that the use of mobile devices to make retail and store payments will act as a driver for financial inclusion of the unbanked in emerging markets. The research forecasts that mobile merchant transactions by unbanked individuals will grow from 1.8 billion per annum in 2018 to 3.8 billion
The Venture lab at The American University in Cairo (AUC Venture Lab), the leading university-based startup accelerator in Africa and the MENA region, and Temenos, the banking software company, have announced their intention to collaborate and strengthen the fintech ecosystem in Cairo. Temenos will support financial innovation in Egypt by providing startups with access to
Visa, the world’s leader in digital payments, and international mobile financial services firm Branch have announced a partnership under which Branch will offer custom financing to merchants who accept payment via Visa (Visa on mobile or Card). The loans will provide merchants with funds to grow their business through supplemental stock, infrastructure investment, and other
The first on the continent to access Samsung Pay, South Africans will be able to enjoy this highly innovative, safer, simpler payment method that works anywhere. Staying true to Samsung’s legacy of innovation, Samsung Pay joins the lineage of people-centred technology, allowing users to make secure, simple mobile payments, almost anywhere, when purchasing goods at
Mastercard and Entersekt have collaborated to enable Nedbank’s customers to make QR payments to Masterpass, Pay@, SnapScan, and Zapper merchants and billers through the Nedbank Money app, whether they are paying online or at a physical point of presence. This market-first development means that Nedbank Money users need just one smartphone app for all major
In Nigeria, a country of nearly 200 million people, 61% of the adult population is un- or underbanked. Fintech companies like Paylater represent a tremendous opportunity to get formal banking services in the hands of Nigerian consumers to provide much needed liquidity for entrepreneurial investment, personal development, or unexpected expenses. Consumer credit is nearly non-existent
Nigerian telco, 9mobile has launched a new payment service, 9pay. This is an operator-billed payment platform for Google Play store users, launched in collaboration with Google, and Bango, the leading global mobile payments company. According to its Chief Product & Information Officer, Otuyemi Otule, 9mobile is delighted to expand its mobile payment solutions in Nigeria,
Users of MTN Rwanda will now be able to send money to Tanzania via Mobile Money as the telco has opened the mobile-to-mobile remittance service between Rwanda and Tanzania. MTN Mobile Money users in Rwanda are now able to send money to Airtel Tanzania subscribers seamlessly and affordably through the MFS Africa Hub. The Hub
