PayU announces the acquisition of iyzico – a digital payment services provider and one of the most hotly tipped fintech start-ups in Turkey – for $165 million. The acquisition, which adds to the over $500 million PayU deployed across fintech investments and M&A, is a further step in the company’s mission to become the leading
American Express has launched vPayment in the South African market, offering travellers and travel agents a safe, simple and reliable way to pay for their travel bookings. vPayment controls and streamlines the payment and reconciliation process by assigning a unique American Express virtual account number and user-defined expense information to each transaction. A bespoke transaction
New collaboration to modernize global money movement for expedited cross-border money transfers. Visa has announced a new strategic agreement with Western Union, a global leader in cross-border, cross-currency money movement. Western Union will implement Visa Direct, Visa’s real-time1 push payments platform in an effort to bring speed and transparency to the process of sending money
Through the WorldRemit website and app SMEs can now quickly and securely transfer money to pay employees and contractors in 140 countries including South Africa. Leading digital money transfer company WorldRemit has launched WorldRemit for Business, a new service that enables small and medium-sized business owners to quickly pay their employees and contractors in 140
As changes in consumer behavior continue being rapid in the banking sector, technologies such as big data, IoT, machine learning, and mobile devices remain highly disruptive on the market. Simultaneously, security breaches continue to grow daily, placing both businesses and consumers at risk. This convergence of forces is having profound impacts on the way people
A new study from Juniper Research has found that the number of people using digital wallets will increase from 2.3 billion this year to nearly 4 billion, or 50% of the world’s population, by 2024. This in turn will push wallet transaction values up by more than 80% to more than $9 trillion per annum.
Standard Bank is leveraging its digital capabilities to create superior digital platforms that enhance customer experience and enable easy and affordable access to banking services. As part of this, the bank has launched several innovative and digital firsts. This week Standard Bank introduces a R4.95p/m bank account called MyMo that customers can open on their
The specification enables the creation of a virtual payment terminal and the icon facilitates easy consumer recognition of remote-checkout environments that offer a consistent card-based payment acceptance experience. EMVCo has released EMV Secure Remote Commerce (SRC) Specification v1.0, which is available for free public download from the EMVCo website. The specification provides a foundation that
Contactless cards will account for 57% of payment cards worldwide by 2023 as issuers increasingly offer them as standard, and acceptance grows to reflect customer demand. Issuers offer contactless functionality to persuade customers to use cards instead of cash Research from RBR’s Global Payment Cards Data and Forecasts to 2023 shows that issuers across the
SWIFT has been awarded the license to offer connectivity services to all Eurosystem market infrastructures via the European Single Market Infrastructure Gateway (ESMIG). SWIFT has announced that it has been awarded a license to provide ESMIG connectivity services from November 2021, as a Network Service Provider for the Eurosystem’s TARGET Services. SWIFT’s appointment through the
