Nedbank and Mastercard Sign 10-Year Deal to Transform Digital Payments in Southern Africa

Posted on by kara | 7566 Views | 9 min read
Nedban

Nedbank and Mastercard announced a landmark 10-year commercial agreement that expands their long-standing collaboration across Southern African. The agreement spans South Africa, Zimbabwe, Namibia, Eswatini, Lesotho and Mozambique, and will bring enhanced digital payment experiences to customers and businesses across the region. Under the agreement, the bank will leverage Mastercard’s global technology expertise and payments

Innbucks, with 3 Million Subscribers, Adopts New Tech Platform To Become A “Digital Bank”

Posted on by kara | 22895 Views | 12 min read
Innbucks

Innbucks is migrating its mobile platform to a new technology provider called Mambu. According to a press release, the move is “part of its transformation from a digital wallet solution to a fully integrated digital bank.” With an estimated 3 million subscribers, Innbucks has quickly become one of Zimbabwe’s largest digital wallets, the largest being

Navigating the Compounding Complexity of Digital Card Issuing – Stanchion

Posted on by kara | 37975 Views | 39 min read

By: Pierre Aurel, Chief Product Officer, Stanchion Payments Solution.  Originally published here. The number of virtual cards issued worldwide is growing at an unprecedented pace. According to Juniper Research, global virtual card issuance is expected to grow at over 30% annually between 2023 and 2028, driven by relentless consumer demand for seamless, secure and convenient

South African Banks to Cut Digital Payments to CMA Countries – Standard Bank

Posted on by kara | 10440 Views | 9 min read
South African Banks

South African banks, in the next month, will halt electronic fund transfer (EFT) services to Namibia, eSwatini, and Lesotho, restricting clients from transferring money to these Common Monetary Area (CMA) countries. From September 4th, EFT services will be unavailable to South African customers wishing to send money electronically to these key Southern Africa Development Community

Spearheading Electronic Funds Transfer (EFT) Innovation in South Africa and Beyond – PAY8

Posted on by Staff Reporter | 13342 Views | 15 min read

In recent years, Electronic Funds Transfers (EFTs) have become a bedrock of financial systems worldwide, shaping the way businesses, consumers, and banks interact. Andrew Springate, CEO of tech and financial gateway service provider PAYM8 says that by participating significantly in the EFT landscape’s modernisation, including Authenticated Collections (DebiCheck) in South Africa and Enhanced Debit Orders

SME Economic Recovery Loan Scheme Disburses N$ 85,9 Million Worth of Loans – Bank of Namibia

Posted on by Staff Reporter | 11454 Views | 10 min read

1. The SME Economic Recovery Loan Scheme is starting to play a significant role in supporting the growth and sustainability of small and medium-sized enterprises (SMEs) in Namibia, with over N$ 85,9 million disbursed to 80 (eighty) SMEs across the country, allowing them to continue operating while providing further impetus to the revival of the

Financial Stability Report Concludes that the Namibian Financial System Remained Sound and Resilient in 2022, Amidst Prevailing Risks – NAMFISA and Bank of Nambia

Posted on by Staff Reporter | 10092 Views | 36 min read

HIGHLIGHTS: The Namibian financial system, which is made up of the banking and non-banking sectors as well as the payment system and infrastructure, continued to be sound and resilient throughout 2022. The banking sector financial soundness indicators remained at comfortable levels during 2022, with the growth in assets outpacing the prevailing inflation rate; however, this

Bank of Namibia Strengthens Digital Transformation Strategy with Visit to the Central Bank of Kenya

Posted on by Staff Reporter | 22363 Views | 11 min read

The Bank of Namibia (BoN), in its ongoing pursuit of digital transformation for the central bank and modernisation of the financial sector to achieve higher levels of financial inclusion, has concluded a visit to the Central Bank of Kenya (CBK). The visit aimed to enhance the Bank’s capacity to effectively manage financial risks emanating from

Namibian Banks Able to Withstand Foreign Banking Crisis

Posted on by Staff Reporter | 13371 Views | 16 min read

Namibia’s banking system remains resilient and sound, with solid capital and liquidity buffers in place to withstand risks emanating from internal and external shocks as the world reels from the closure of a number of regional banking institutions in the United States and a global systemically important bank based in Europe. The Bank of Namibia

Bank of Namibia Launches Automated Regulatory Reporting System – A First for Namibia

Posted on by Staff Reporter | 11265 Views | 15 min read

The Bank of Namibia (the Bank) is pleased to announce the launch of Namibia’s first-ever Automated Regulatory Reporting System, available to regulated and supervised entities licensed by the Bank to conduct banking, currency exchange, and payment service provision activities from 01 February 2023. The acquisition of the system comes at a time when regulators and