Download the report here. BNPL (Buy Now, Pay Later) wallets are no longer positioned as an invincible challenge to international card schemes. Even the most successful BNPL app providers have opted to collaborate with supposed rivals. Afterpay, for instance, has introduced the Afterpay Plus card, a contactless Mastercard product, and Klarna extended its popular “Pay
Since the brand evolution of Masterpass to Scan to Pay, Powered by Ukheshe, earlier this year, South Africa’s appetite for mobile QR payments has surged. Crafted with the user in mind, Scan to Pay is more than just a payment application – it’s a financial hub tailored for the everyday consumer. “We wanted to provide
The funding will be used to continue building out its end-to-end payments solutions and expand to additional markets Payments infrastructure company Stitch today announced a $25 million Series A extension, led by Ribbit Capital, bringing the total raised to $52 million. Stitch will use the funding to continue building its end-to-end payments solutions – designed
Payment card spending increased by 1% in 2022 as growth in credit and prepaid volumes counteracted a fall in debit card expenditure Post-pandemic recovery drove overall growth in global purchase volume A brand-new report by RBR Data Services, a division of Datos Insights, reveals that growth in purchase volume in 2022 was driven by increasing
Mastercard and Equity Bank Uganda signed a memorandum of understanding today aimed at improving financial inclusion for digitally excluded individuals, communities, and businesses in Uganda. Equity Bank intends to leverage Mastercard’s Community Pass solution to: • Issue financial inclusion cards that will serve as an online and offline store of value, enabling individuals to securely
Over the past few years, the evolution of standards such as 3D Secure 2 (3DS2) and regulations such as the Strong Customer Authentication requirements in Europe’s Payment Services Directive 2 has helped to contain the growth of card-not-present (CNP) fraud. Yet with online transactions growing at a rapid rate, the payments sector can’t afford to
By Patrick Mowatt, Compass Plus Technologies Financial inclusion is a prominent issue in South Africa; an issue that prompted the government to take action, and, in 2012, they challenged the financial sector to achieve 90% financial inclusion by 2030. Fast forward a decade and financial inclusion in the country is no longer an issue of
Absa launches first-of-its-kind augmented reality card game offering prizes and giveaways to customers and non-customers with incentives for transactional and credit card account take up. What is a bank card? Is it simply a card or a bridge to benefits, a stepway to the day-to-day amenities or a highway to the attainment of life’s greater
Mukuru, the leading next-generation financial services platform headquartered in Cape Town, has announced a partnership with online learning platform Digemy to provide financial literacy education for its users. Mukuru CSI Manager Deidré Vrede says the fintech business, which connects with underserved and unbanked users across the continent and walks them along a digital financial journey,
Mastercard, a leading global technology company in the payments industry, recently announced its partnership with SomBank, one of the innovative financial institutions in Somalia. The purpose of the partnership is to promote the adoption of digital payment solutions in the country, bringing more Somalis into the digital fold. The partnership allows SomBank to issue and
