Standard Bank has been named as most admired financial services brand, as announced by Brand Africa in the release of its latest research and rankings. Standard Bank was crowned ahead of its competitors in a specific category ranking of the Top 25 financial services brands on the continent jumping from its 6th ranking position in
With the ongoing rise in interest rates in South Africa, businesses are increasingly faced with the daunting task of obtaining affordable financing. And with higher interest rates comes the burden of higher borrowing costs. CredX, launched by the Shoprite Group in 2022, enables its suppliers to obtain critical working capital funding at the lowest industry
Harnessing the power of world-class technologies to facilitate a seamless banking experience for its customers, Absa has launched card tap-and-go capabilities at its ATMs in South Africa. The capability is expected to reduce transaction time at the ATM by up to 12 seconds on average and potentially deter incidents of card theft at ATMs, which
In recent years, Electronic Funds Transfers (EFTs) have become a bedrock of financial systems worldwide, shaping the way businesses, consumers, and banks interact. Andrew Springate, CEO of tech and financial gateway service provider PAYM8 says that by participating significantly in the EFT landscape’s modernisation, including Authenticated Collections (DebiCheck) in South Africa and Enhanced Debit Orders
The countrywide adoption of Bitcoin payments by industry titan, Pick ‘n Pay, late last year, heralded the first among many new developments in the payment technology landscape. The past few years have seen the proliferation of new methods of transacting, with local fintech innovators earning their place within the new-generation payments ecosystem. Consumer credit has
As banks continue to work towards new regulatory and compliance standards, all are having to find balance between resource and funding priorities and between step-change innovation and more operational requirements. And, while compliance is a necessity, lagging too far behind in new and innovative opportunities could see them losing their competitive edge. The answer to
Banking as a Service (BaaS) and embedded finance enabler Ukheshe has recently launched a new innovation hub, Ukheshe Labs, to focus on research and development in the digital payments market. Jason Penton, Ukheshe Co-Founder and Head of Ukheshe Labs, says such an endeavour should be a priority for any company operating in the tech sphere.
Moment offers expanded payment infrastructure for businesses across Africa to help them collect and make payments easier, quicker, and more affordable MultiChoice Group, Rapyd and General Catalyst today announced a joint venture aimed at developing an integrated payment platform for Africa. The joint venture will operate under a new company, called Moment. Moment offers expanded
By Harsha Maloo, Head of Payments at Synthesis There has been a lot of talk around the corner about PayShap – the new super-fast, low-cost payment rail which has recently launched in South Africa. It aims to foster financial inclusion and open new markets and opportunities. But before we delve deep to explore whether PayShap
By Shaun Holley, Deputy CEO & Head of Innovation & Rory Bosman, Sales & Marketing Executive at Ecentric Payment Systems Today’s consumers have access to a myriad of convenient experiences through mobile apps and online platforms, and they expect a similar level of ease when interacting with businesses and specifically payment interactions. Indeed, consumer demand
