The South African Reserve Bank (SARB) has embarked on a study to investigate the feasibility, desirability and appropriateness of a central bank digital currency (CBDC) as electronic legal tender, for general-purpose retail use, complementary to cash. A retail CBDC can be defined as a digital form of cash aimed at providing the best attributes of
The ATM Industry Association (ATMIA) this week announces the approaching retirement of their much-loved Global Director of Finance and Member Services, Sharon Lane. “Sharon’s 18-year career with ATMIA has been extraordinary and her legacy will be highly effective systems of both financial and membership management, as well as the culture of caring for each and
With the African Continental Free Trade Agreement set to generate combined consumer and business spending of $6.7 trillion by 2030, the continent requires payment platforms to cater for this growth. To this end, Pay@ – a leading South African payment aggregator and provider of secure payment solutions – will be expanding into several African countries
Mukuru’s recent inclusion in the iAMTN 2020 Annual Report: A Trend Driven by the Covid-19 Crisis – the Shift to Digitalisation in Cross-Border Remittances, highlights the importance of strong payment system interoperability that enables the scalability of digital remittance channels. Where this does exist, the global pandemic has been a catalyst for digital growth in
Strategic alliance will support the development of Africa’s financial services and the growth of Absa Group, a leading African retail, corporate and investment bank Invest Africa (www.InvestAfrica.com), the leading business and investment platform for African markets, and Absa Group, one of Africa’s largest diversified financial services groups, are pleased to announce a strategic collaboration, aimed
Data insights within 24 hours promise to boost business decisions and competitiveness EXPLORE Insights is gearing to offer SME financial services companies in South Africa a crucial data analytics service aimed at delivering real time insights within 24 hours. “Building an internal analytics capability is expensive and complex. Our aim is to quickly, seamlessly and
It is no longer strange to hear from business that 2020 was an exceptional year. For some, it was exceptionally bad and lead to unbelievable hardships. For others, it turned into an exceptionally busy year. The Ombudsman for Banking Services (OBS), Reana Steyn, points out that the OBS had a busy year. Fortunately, the OBS
Innervation Rewards, an incentive and rewards company, has partnered with Mastercard to launch SlipMate, an intelligent expense management solution designed for South African companies to reconcile employees’ corporate expenses from their Mastercard prepaid corporate card. SlipMate offers a mobile app that empowers employees to easily capture, submit and track expense claims. Backed by Standard Bank
Agility and scalability of Temenos platform supports Curo’s large multi-client fund base and rapid pace of product evolution in the investment industry Temenos Multifonds Global Accounting platform enables Curo Fund Services to deliver seamless back office service; Curo is a third-party administrator for 3,000 funds with assets under management in excess of $150 billion; Agility
A collaborative effort between merchants, banks and card networks is required if the greater e-commerce landscape is to benefit from faster approval rates, low-risk trading environments, and a better user experience offered by the new EMV 3-D Secure protocol, says authentication specialist, Entersekt. The original release of 3-D Secure by the credit card networks took
