Sasfin’s Equity Stake in Fintech Lender Payabill Set to Enhance SME Growth

Posted on by Staff Writer | 3403 Views | 12 min read

In another major step forward in supporting growth in SMEs, Sasfin has announced that it has acquired a strategic stake in fast-growing fintech lender Payabill. Payabill, a 100% digital lending business, provides working capital and/or trade finance to small businesses. The collaboration between Sasfin and Payabill accelerates financing opportunities for customers. Sasfin, South Africa’s leading

Ecocash and cashbackAPP to Launch Ecocash Rewards

Posted on by Staff Writer | 4238 Views | 16 min read

Ecocash, the mobile payments giant and subsidiary of Cassava FinTech, has announced its partnership with cashbackAPP, the international loyalty and advertising business. This deal is set to disrupt the market in Zimbabwe and significantly enhance the value proposition to Ecocash merchants and customers in the form of Ecocash Rewards, a highly innovative programme which will

Enkryptis Leads the Way with New Key Injection Facility and Certification

Posted on by Staff Writer | 3973 Views | 14 min read

Enkryptis, a specialist payment security provider in South Africa, has announced it has achieved the Payment Card Industry Point to Point Encryption (P2PE) and PCI PIN security certifications for their state of the art key injection facility in Johannesburg. The assessments and subsequent certifications were completed by Foregenix, an accredited qualified security assessor and industry

SARB Invites Public to Workshop on the Review of the National Payment System Act

Posted on by Staff Writer | 3247 Views | 7 min read

National Treasury and the South African Reserve Bank (SARB) invite the public and media to a workshop on the review of the National Payment System Act 78 of 1998 (NPS Act). The review is outlined in a policy paper titled ‘Review of the National Payment System Act 78 of 1998’ that was published by the

Double Digit Growth in SWIFT Message Volumes as gpi Uptake Soars

Posted on by Staff Writer | 3304 Views | 12 min read

Industry cooperative records 11% message growth in 2018 Annual SWIFT volumes reach record-breaking 7.8 billion Average daily message volumes break 30 million barrier SWIFT gpi values exceed $300bn daily SWIFT’s figures show an average of 31.31 million messages a day in 2018 as its annual traffic rose to an all-time high of over 7.8 billion.

FNB is the First Bank to Launch Consumer and Merchant QR Code Payments on its Banking App

Posted on by Staff Writer | 3801 Views | 13 min read

Capability is powered by Masterpass, Mastercard’s digital payment service FNB, South Africa’s best digital bank, is expanding its digital payments ecosystem by enabling consumers and sole proprietor businesses to perform and accept QR code payments using the FNB Banking App. This makes FNB the first bank in South Africa to integrate QR code payments for

Entersekt Gains Early Certification for E-Commerce Authentication Solution

Posted on by Staff Writer | 4362 Views | 8 min read

3-D Secure 2 access control server comes bundled with APIs for a wide range of in-app payment experiences Entersekt, an innovator in mobile-first fintech solutions, announced that it has gained EMVCo certification for its 3-D Secure 2 access control server. EMVCo is a payments industry consortium managing global specifications for secure card-based e-commerce transactions. Entersekt

Mastercard SpendingPulse: South African Consumer Spending Shows Moderate Uptick

Posted on by Staff Writer | 2935 Views | 9 min read

Consumers are ringing in the holiday season with a solid start to retail sales, according to Mastercard SpendingPulse, which looks at overall retail spending trends across all payment types. October – South Africa’s third biggest month for retail spending after December and November – saw retail sales rise 1.1 percent over the same month in

Black Friday Card Sales Reach 4.8 Million Mark – BankservAfrica

Posted on by Staff Writer | 3217 Views | 4 min read

Debit and credit card transactions reached 4.8 million during this year’s Black Friday. This represents a 4% year-on-year growth on 2017’s 4.7 million, according to BankservAfrica, Africa’s largest automated payments clearing house BankservAfrica’s figures, which covers all in-store card transactions (excluding ATM) by BankservAfrica between 00:00 – 23:59 on 23 November 2018, showed the highest

SARB Releases Invitation to Comment on the National Payment System Act Review Policy Paper

Posted on by Staff Writer | 3405 Views | 15 min read

National Treasury and the South African Reserve Bank (SARB) today published a policy paper titled ‘Review of the National Payment System Act 78 of 1998’ for public comment. A national payment system (NPS) is a set of arrangements and infrastructures that enables consumers, businesses and other entities to transfer funds to one another. A number