Due to the high incidence of ATM Card Fraud, the South African Banking Risk Information Centre (SABRIC) would like to alert bank customers to an existing modus operandi, which has become prevalent again, to ensure that they are empowered to protect themselves and to prevent them from falling victim to criminals. SABRIC CEO, Kalyani Pillay
MicroSave, in partnership with The MasterCard Foundation, launched a new program to develop tailored training courses in digital financial services (DFS) in francophone markets of Africa. The program is expected to benefit over 250 DFS providers and will focus on the WAEMU region, the Democratic Republic of the Congo, and Madagascar. Additionally, a DFS knowledge
Proxama PLC has won a five-year contract with a South African financial group for its payment card issuing, PIN and management technology. Revenue earned from software licences, services and support will be £0.365mln in 2017 and a minimum of £0.691mln in total over the five years, with additional payments if certain card capacity thresholds are
South Africa can learn from the Indian government’s moves to bank its unbanked population by limiting the amount of cash that can be drawn at one time, identifying populations with high potential to ‘go cashless’, and by subsidising smart phones. Financial inclusion of the poor is key to poverty alleviation and critical to its success
Cardtronics plc announced that it has closed on the acquisition of Spark ATM Systems Proprietary Limited — a move that marks Cardtronics’ entry into the South African market. Privately held and headquartered in Cape Town, Spark ATM Systems is a fast-growing independent ATM deployer (“IAD”) in South Africa, with a growing nationwide network of approximately
From digital banks to mobile-payment solutions, technology is set to change the South African financial services landscape at a pace that will continue to surprise even the most hard-core non-believer. Digital banks On the banking front, 2017 will be the year of the digital bank, both globally and locally. In South Africa we will see
Visa, a global payments technology company, signed a commercial partnership with Atlas Mara Limited, the sub-Saharan Africa financial services group, as part of a wider strategic partnership to introduce a dynamic suite of payment solutions and expand access to electronic payments within the Sub-Saharan Africa region. Through this partnership, Atlas Mara’s banks will be able
SASSA has been inundated with concerns regarding what happens after the current social grant payment contract with Cash Paymaster Services (CPS) expires at the end of March. This is understandable, given the fact that the ConCourt declared the current contract invalid but however, suspended the invalidity declaration. The Minister of Social Development, Bathabile Dlamini subsequently
Visa is introducing in Zimbabwe next month its National Net Settlement Service (NNSS) that will allow client banks to settle domestic USD-denominated Visa transactions locally. The USD was adopted in 2009 as one of the currencies in Zimbabwe’s multi-currency system. The NNSS is a local settlement solution customized to process, clear, report, and settle domestic
Visa is introducing in Zimbabwe next month its National Net Settlement Service (NNSS) that will allow client banks to settle domestic USD-denominated Visa transactions locally. The USD was adopted in 2009 as one of the currencies in Zimbabwe’s multi-currency system. The NNSS is a local settlement solution customized to process, clear, report, and settle domestic
