Visa’s Digital Authentication Framework and Mastercard’s Token Authentication Framework: Getting set for this seismic shift in the payments landscape

Posted on by Staff Reporter | 66712 Views | 22 min read

Over the past few years, the evolution of standards such as 3D Secure 2 (3DS2) and regulations such as the Strong Customer Authentication requirements in Europe’s Payment Services Directive 2 has helped to contain the growth of card-not-present (CNP) fraud. Yet with online transactions growing at a rapid rate, the payments sector can’t afford to

Amplifin Launches Heavyweight Solution for Small to Medium Business

Posted on by Staff Reporter | 11084 Views | 18 min read

In the dynamic business landscape, growing enterprises encounter an escalating array of challenges that demand innovative solutions. Amplifin recognises that as businesses expand, their concerns multiply – from financial intricacies to operational complexities. The organisation understands that these enterprises require access to cutting-edge technologies, akin to those embraced by larger corporations, but without the financial

South Africa: How Banks and Fintechs Can Encourage Participation In the Digital Economy – Compass Plus Technologies

Posted on by Staff Reporter | 21576 Views | 19 min read

By Patrick Mowatt, Compass Plus Technologies Financial inclusion is a prominent issue in South Africa; an issue that prompted the government to take action, and, in 2012, they challenged the financial sector to achieve 90% financial inclusion by 2030. Fast forward a decade and financial inclusion in the country is no longer an issue of

Postbank Restores SASSA Payment Services

Posted on by Staff Reporter | 120570 Views | 3 min read

The South African Social Security Agency (SASSA) acknowledges notice from the PostBank regarding resumption of payment withdrawals or transactions following technical challenges experienced by social grant clients on payment days on 05 and 06 September 2023. Clients can now enjoy the use of the SASSA/PostBank cards to make purchases and payments. Clients using the SASSA

SA’s Payments Gold Mine: The Alchemy of Data Into Growth

Posted on by Staff Reporter | 93252 Views | 23 min read

The African payments industry, by furnishing diverse, robust and user-friendly platforms, is catalysing entrepreneurship and financial independence, while also enhancing income for entrepreneurs. Over the past five years, mobile payments have seen tremendous growth in South Africa. As of 2023, the South African mobile payments market is estimated to be worth $25 billion, with a

Scan to Pay Vouchers: a New Way to Reward Loyalty

Posted on by Staff Reporter | 25183 Views | 12 min read

With the holiday season fast approaching, many businesses are working on gift lists and incentives to thank employees and reward loyal clients. And while the reliable (if somewhat boring) box of chocolates is still appreciated by some, what better way to thank someone than to let them choose their own perfect gift? That’s just one

Easily Pay for Groceries at all Pick n Pay Tills Using Bitcoin

Posted on by Staff Reporter | 9737 Views | 8 min read

South Africans who have a Luno wallet will be able to pay at Pick n Pay with crypto in one easy step by simply scanning a QR code. Crypto payments have been available at over 1 500 Pick n Pay stores since February 2023. But the payment process required customers to download two apps to

Mobicred Launches Convenient, Accessible, Mobile Credit Facility within The Shoprite Group

Posted on by Staff Reporter | 14001 Views | 12 min read

As of August 2023, Shoprite customers will now be able to purchase non-food items using leading digital credit provider, Mobicred. The fully digitised system will give shoppers access to credit offerings via their Money Market accounts, enabling them to pay off higher ticket items over a period of up to 12 months. Commenting on this

Paycorp Champions Financial Inclusion in South Africa with SARB Designation and Visa & MasterCard Principal Membership

Posted on by Staff Reporter | 115927 Views | 8 min read

Paycorp, a leading provider of payment solutions, has been licensed as a direct clearing system participant by the South African Reserve Bank (SARB). This means Paycorp can now acquire payment transactions directly into the National Payments System through BankServ Africa and internationally through its principal memberships with Visa and MasterCard. As an independent non-bank participant

Nedbank and Synthesis Support Contactless Payments on Smartphones Using AWS

Posted on by Staff Reporter | 11792 Views | 36 min read

South African bank Nedbank is committed to prioritizing its product development to suit the needs of its personal and small business clients. To make banking services more inclusive and accessible, the bank worked with AWS Advanced Consulting Partner Synthesis to develop a software-based point-of-sale (POS) system. The solution, built on Amazon Web Services (AWS), can