AlipayHK and GCash Launch Cross-Border Remittance Service Powered by Alipay’s Blockchain Technology

Posted on by Staff Writer | 2469 Views | 24 min read

AlipayHK and GCash today announced the launch of a cross-border remittance service through their e-wallet platforms, powered by cutting-edge blockchain technology developed by Alipay, the online payment platform operated by Ant Financial Services Group (“Ant Financial”, “Ant”). This is the first blockchain-based cross-border digital wallet remittance service globally, offering a fast, secure, convenient, transparent and

Truecaller Eyes Sub-Saharan Africa’s Fintech Market After Acquiring Chillr, an Indian Payment Company

Posted on by Staff Writer | 2578 Views | 7 min read

Truecaller said it is looking at ways to enter the Sub-Saharan Africa’s fintech market after the success of Truecaller Pay 2.0 in India. Truecaller has acquired Chillr, India’s first multi-bank payments app launched in 2014 to further boost growth and enter the payment space in Sub-Saharan Africa. The company said it is now looking at

Currency Associations Welcomed Decision by EU to Suspend Legislation on Cash Payment Limitations

Posted on by Staff Writer | 2457 Views | 6 min read

With the publication of its study on the impact of CPLs issued by the DG ECFIN, the EU Commission announced to no longer pursue legislation with the aim of harmonising CPLs throughout the European Union. The associations welcomed the outcome of the study, which had reached the unequivocal conclusion that there was no data to

Nigeria’s Heritage Bank Committed to Innovative Banking Services

Posted on by Staff Writer | 3895 Views | 11 min read

Heritage Bank Plc has said it is committed to innovative banking services through its transparent MasterCard. Head of Corporate Communications of the bank, Mr. Fela Ibidapo disclosed this in a statement over the weekend, remarking that; “that is the philosophy behind the bank’s e-payment offerings.” According to him, there is more to e-payment than Nigerian

SWIFT Data Shows Intra-Africa Payments Clearing and Trade is Increasing

Posted on by Staff Writer | 2363 Views | 18 min read

SWIFT’s report, “Africa Payments: Insights into African Transaction Flows”, reveals that intra-Africa payments clearing and trade is increasing in importance. The paper maps commercial payment flows against financial flows, pointing to an increase in the use of African currencies for cross-border payments and a decline in the dominance of North American clearing banks and the

mPOS Transactions to Represent 24% of All POS Transactions by 2023

Posted on by Staff Writer | 2594 Views | 8 min read

A new study from Juniper Research has found that the adoption of mPOS (mobile Point-of-Sale) devices connecting wirelessly or via mobile devices, such as those from iZettle and Square, will drive annual mPOS transactions to over 87 billion by 2023. This will represent a threefold increase over an estimated 28 billion transactions in 2018. It

Next-Generation Banking’s Mobile Makeover

Posted on by Staff Writer | 2835 Views | 15 min read

The challenge is for banks to strengthen their relationships with younger customers as they embrace new technology. A new generation of bank customers will bypass physical branches and banking via the web almost completely in favour of completing transactions and accessing services from their mobile devices. Financial institutions are already scaling back branches and automating

PayPal Significantly Enhances Global Payout Capabilities

Posted on by Staff Writer | 2823 Views | 8 min read

PayPal Holdings, Inc. has announced that it has agreed to acquire Hyperwallet, a leading global payout platform, for $400 million in cash, subject to certain adjustments. The acquisition of Hyperwallet enhances PayPal’s payout capabilities, improving the company’s ability to provide an integrated suite of payment solutions to ecommerce platforms and marketplaces around the world. According

Growth Opportunities Identified for Unattended Terminals

Posted on by Staff Writer | 2682 Views | 10 min read

70% of consumers want unattended terminals to accept both card and cash payments and a significant number are willing to use wearable devices or digital wallets at these locations, according to a survey of US, UK and Australian adults commissioned by Transaction Network Services (TNS). TNS is publishing the results of its survey today in

FNB Sees Growth in Digital Channel Usage

Posted on by Staff Writer | 3537 Views | 8 min read

Digital Banking has not only opened access to a wider array of banking products for customers across different demographics, it also gives them full control of their banking. Khathu Ramoliko, Head of Gold at FNB, says “Over the last 12 months, we have noted that 83% of our Gold accountholders are actively using digital banking,