Absa Bank Limited is pleased to announce that it has completed the acquisition of approximately 850 ATMs and all related franchise agreements from the Bytes Managed Solutions division of Bytes Technology Group South Africa (Pty) Ltd (“Bytes”). Absa entered into an agreement with Bytes, which is a wholly-owned subsidiary of JSE-listed Altron Group, to acquire
Mike Brown, Nedbank Group Chief Executive has announced the following changes to the banks’ Group Executive Committee (Group Exco). Mfundo Nkuhlu to succeed Graham Dempster as COO and appointed as Executive Director Graham Dempster, the current Chief Operating Officer (COO) and Executive Director reaches normal retirement age in May 2015. The portfolio comprises Group Technology,
Econet Wireless has predicted that Zimbabweans will stop using “paper money” by the end of next year as people adopt cards to transact. Econet, which is at the forefront of introducing plastic money in the country, has already invested in more than 5 000 point-of-sale (POS) devices in businesses throughout the country to ensure that
BPC Banking Technologies, the leading provider of Open System payment solutions for the financial industry, announces the successful completion of the OMCARD Namibia project. Powered by the SmartVista installation at Payment Express (PEX), Mauritius and in partnership with Bank Windhoek, the OMCARD from Old Mutual provides customers in Namibia with a unique set of features
Econet’s Mobile Money service,EcoCash, has announced a landmark agreement with MasterCard that will significantly assist in reducing cash dependence and increase financial inclusion through the provision of electronic payments in Zimbabwe. The collaboration will result in more than three million MasterCard debit cards being issued to mobile money provider EcoCash’s customers in the next five
South Africa’s retailers, financial institutions and brands are gaining pace with international competitors in adopting technologies such as near-field communication (NFC) for mobile and cashless payments. Two years ago, it was predicted that the high cost of installing point-of-sale terminals and other enabling infrastructure would hamper adoption. However, several companies have implemented such systems so
SureSwipe, a leading Payment Services Provider (PSP), has launched SureSwipe Move – the first Mobile Point of Sale (MPOS) solution in South Africa to achieve Point-to-Point Encryption (P2PE) certification from the PCI Security Standards Council. This means that SureSwipe Move’s secure devices, applications and processes comply with the Standards governing the encryption of card data
Perago, a wholly-owned subsidiary of SIA, has signed an agreement with Swish Payments Ltd., a mobile commerce provider owned by leading South African payment service provider Setcom Payment Solutions, to support its new m-commerce initiative in Africa and Europe. Through SIA’s technology infrastructure, Perago will enable the Swish solution that utilises a mobile app and
The FNB Banking App turned three years old this weekend. The Banking App was the first of its kind in South Africa, when smartphones became available to FNB customers in 2011. FNB was also the first to launch the Banking App specifically designed for Tablets in April 2013. “From winning the title of MTN; App
With EMV’s continued expansion overseas and impending adoption in the U.S., fraudsters are turning away from scamming physical credit and debit cards and instead setting their sights on the card-not-present space online. In an effort to further protect its customers from potential fraud online, South African-based Nedbank has partnered with Entersekt, to integrate the solution
