African communities have historically found innovative ways of collaborating and combining individual financial resources for the good of the many. Stokvels and funeral savings are just two examples of community initiatives to which everyone contributes and from which everyone benefits. These and other savings and community wealth creation mechanisms are often entered into without proper
In today’s digital landscape, two prominent players are set to reshape the decentralised payments scene in South Africa: MetaMask and Xion Global. Their collaboration is not just a fusion of strengths; it’s a vision, a roadmap to the future of payments in South Africa. Web3 Payments in South Africa MetaMask (MM), globally recognised as the
By Bernard van Der Merwe, Information Security Officer at Ecentric Payment Systems The only way to combat the increasing cost of cyberattacks, and the reputational threat that comes with them, is to have solid, internationally accredited, security measures in place as well as going above and beyond these requirements, writes Bernard van Der Merwe, Information
Information and insights company TransUnion Africa has established a strategic partnership with Chenosis, Africa’s API marketplace, that makes it possible for both alternative and traditional credit data to be included in the credit profiles of South African, Rwandan, and Zambian consumers. The solution, available to TransUnion’s CreditVision customers, uses alternative data to give lenders deeper
Fintech enablement company Direct Transact has entered into a strategic partnership agreement with Visa, which will open up an array of multi-currency opportunities for banks, fintechs and businesses in the Central Europe, Middle East and Africa (CEMEA) region. Direct Transact (DT) has long been one of the largest Visa processors in the CEMEA region and
Dubai-based and FTSE-listed Network International’s state of the art, cloud-based, integrated digital payment suite, Network One, is now onboarding local banks, MNOs and fintechs. In addition to the R500 million investment in the on-soil platform, the company has now announced an additional R60 million investment in a best of breed payment switch (online payment transactions
Pick n Pay, a trailblazer in the loyalty space, celebrates its pioneering spirit as it embarks on a digital transformation journey with the launch of the Pick n Pay Smart Shopper app. This marks the start of a new era of customer engagement and convenience for Smart Shopper as it aims to become South Africa’s
Ecentric Payment Systems, the leader in retail payment processing in South Africa and 17 other African countries, has announced its acquisition of the IP, people, and customers of innovative technology payment solutions company Thumbzup, in a move that will benefit both business’s customers and support Ecentric’s strategy to become the dominant omnichannel player for retailers
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
MoData showcased its advanced Fraud and AML solutions to industry experts from across the Southern African region who had gathered to take part in the 8th Edition of the Anti-Money Laundering, Financial Crime & Fraud Southern Africa Conference held earlier this month [September] in Johannesburg. The two-day conference featured speakers from South Africa, the SADC
