RMS to RM: What South Africa’s Businesses Need to Know About Upcoming Debit Order Changes

Posted on by kara | 5938 Views | 32 min read
RMS

Steven Maier, Chief Brand Officer at Amplifin As the South African payments landscape prepares for a significant shift, businesses reliant on DebiCheck debit orders, and specifically when authentication was not successfully obtained from Debtors, must brace themselves for the mandatory transition from the Registered Mandate Service (RMS) to the new Registered Mandate (RM) payment stream

Tranglo Expands Remittance Services to Seven African Countries

Posted on by kara | 19033 Views | 5 min read
Tranglo

Tranglo, a Cross-border payment hub, has expanded its services in Africa. Tranglo now facilitates payments in Ethiopia, Kenya, Liberia, Madagascar, Mali, Senegal, and Zambia. Remittances are crucial for African households and businesses. Tranglo offers efficient and cost-effective solutions to address high remittance fees. The World Bank estimates that remittances to Sub-Saharan Africa reached US$ 54

EFT Corporation Connect: Zambia Event Forges Important Regional Partnerships

Posted on by kara | 8048 Views | 14 min read
EFT Corporation

EFT Corporation, an African-focused fintech and payment solutions provider, recently hosted its EFT Corporation Connect: Zambia event in Lusaka. Featuring presentations led by EFTCorp’s team alongside an address from a representative of the Zambian Ministry of Technology and Science, the event brought together leaders and innovators from Zambia’s banks, microfinance, and the fintech sector. The

IFC Teams Up With Standard Bank and Rand Merchant Bank to Boost Local Currency Financing in Africa

Posted on by kara | 24854 Views | 8 min read
IFC

IFC, a member of the World Bank Group, has partnered with Standard Bank and Rand Merchant Bank (RMB) to help expand local currency financing for private businesses across Africa. IFC will collaborate with Standard Bank and RMB on cross-currency swaps to manage currency exposure related to its local currency lending. This hedging allows IFC to

President Ruto: African Payment System will Unlock the Continent’s Trade Potential – COMESA

Posted on by kara | 5695 Views | 22 min read
President Ruto

President William Ruto has asked Member States of the Common Market for Eastern and Southern Africa (COMESA) to ratify the Pan-African Payments and Settlement System to enable and ease trade among the countries. The President said the African payment system will save Africa more than $5 billion annually in payment and foreign exchange transaction costs.

South African Bank Blocks Crypto Payments, Faces Industry Backlash

Posted on by kara | 8106 Views | 8 min read
South African Bank

South African bank Capitec has blocked electronic funds transfers and real-time payments to cryptocurrency exchanges as a security measure. While Capitec acknowledges growing interest in cryptocurrencies, the bank maintains that the measure is necessary to protect clients from fraud. Some industry players view this move as an attempt to restrict crypto trading. Crypto Payments Blocked

Fincra’s Continental Vision: Bridging Africa’s Payment Gap

Posted on by kara | 6416 Views | 12 min read
Fincra

Fincra, an African payment infrastructure provider, has achieved a significant milestone in its expansion plans. The company has secured a Third Party Payment Provider (TPPP) licence in South Africa, enabling it to offer its payment solutions to businesses in the country. This regulatory approval aligns with Fincra’s goal of simplifying value transfer across Africa and

Ecentric Drives Innovation in in Person Payments, Targeting Retail Growth With Data-Driven Solutions

Posted on by kara | 9879 Views | 14 min read
Ecentric

Ecentric, a leading omnichannel payments provider, has announced significant enhancements to its In Person Payments platform to improve performance and reliability, meet customer requirements around reporting and analytics, and drive growth as the company extends its offering to Tier 2 retailers in the local market. “Ecentric is committed to continuously innovating the In Person Payments

Wibmo and EFT Corporation Partner to Strengthen Payment Security in South Africa

Posted on by kara | 6082 Views | 9 min read
Wibmo

Wibmo, a PayU company, and EFT Corporation have formed a strategic partnership to introduce cutting-edge security technology for digital payments in South Africa. The partnership will bring the Wibmo Areion 3DS Server (3DSS) to the local market, a solution designed to enhance online transaction security and improve payment efficiency. The partnership was formalised at a

Altron Fintech’s Buy Now Pay Later Revolution

Posted on by kara | 5309 Views | 8 min read
Altron

Altron FinTech launches the innovative Buy Now Pay Later (BNPL) solutions—PayJustNow and Payflex—on its Android terminals, marking a significant milestone in the payments industry. As the first to introduce this solution to the market in 2023, Altron FinTech continues to lead the way in offering flexible and customer-obsessed payment options, empowering businesses to enhance their