According to a new white paper by SWIFT examining Africa’s cross-border payment landscape, intra-Africa payments and clearing is increasing in importance and there is a rise in the use of African currencies for cross-border payments. Africa’s trading relationships are evolving. Over the past decade, trade has begun to move away from developed countries and towards
A new white paper from SWIFT, mapping commercial payment flows against financial flows in Africa, reveals that that intra-Africa payments and clearing is increasing in importance. It also points to an increase in the use of African currencies for cross-border payments. The white paper, published at the SWIFT African Regional Conference in Kigali, Rwanda, aims
Compass Plus, an international provider of electronic payments and retail banking software to processors and financial institutions, has announced the global expansion of its processing business with its fully compliant, Mastercard and Visa certified UK-based processing centre. Compass Plus is globally known as a payments software vendor, however, the company has been successfully offering processing
The US National Retail Federation has said a proposed new class action settlement, which purports to resolve claims that Visa and MasterCard set credit card swipe fees in a multi-billion dollar price-fixing scheme, largely resembles part of an agreement that both a federal appellate court and the retail industry had already rejected. “The monetary settlement
Nedbank has partnered with Mastercard to launch Qkr! with Masterpass, a mobile order-ahead and payment platform developed by Mastercard Labs, and Nedbank POSplus™ as part of their efforts to open up new revenue channels for merchants and enable them to meet the demand of today’s connected shopper. The new Nedbank POSplus™ and Qkr! (pronounced Quicker)
Who are you, and can you prove it? The new Gemalto Trust ID Network enables users to give digital service providers fully verified and secured answers to these simple yet critical questions. By creating and managing their own ‘Self-Sovereign’ Digital ID, users can enroll with a host of different digital banking, eCommerce and eGovernment services,
First National Bank (FNB) has received 50 million US-dollars from the DEG – Deutsche Investitions- und Entwicklungsgesellschaft to deploy towards small and medium enterprise (SME) development in South Africa. DEG is a development finance institution whose mission is to promote private-sector enterprises in developing and emerging-market countries as a contribution to sustainable growth and improved
SWIFT is to introduce a pre-validation service that will allow customers to detect and resolve errors that delay payment messages before they are dispatched and enable banks to give upfront fee transparency to their end customers. More than 50% of SWIFT gpi payments are credited to the beneficiary in less than 30 minutes and many
Winners of the 2018 Ecobank Fintech Challenge were announced at a ceremony held at Ecobank’s headquarters in Lome, Togo on 30th August 2018. Nala, from Tanzania, beat the ten other finalists to emerge as the overall winner of the competition. Virtual Identity from South Africa and Wallet.ng from Nigeria were the first and second runners
Mastercard has partnered with market leader Vodacom and BancABC to introduce the first online card in Tanzania – the M-Pesa virtual card. “Vodacom’s M-Pesa is already an industry trailblazer with over 8.2 million subscribers and over 100,000 agents countrywide that enable citizens to transact safely and easily, but customers are limited when it comes to
