The African chapter of the ATM Industry Association has published a commissioned study on retail payment trends in South Africa for its online member Market Intelligence Library. “With 12 million new consumers added to the economy in the last ten years, along with an expanded banked community, the payments pie is getting bigger and bigger,”
Fundamo founder, Hannes Van Rensburg, generally considered the father of mobile payments, has joined the advisory board of Nomanini, a South African-based, enterprise technology transactions platform provider, saying the company is well placed to be a market leader within a niche space. The company’s platform facilitates cash transactions in informal markets, allowing enterprises to bolster
Load shedding has a major impact on economic confidence and often debilitates businesses’ ability to operate. South African retail has been one of the hardest-hit industries, with losses in sales and additional costs running into the many billions of Rand. As a result, local retailers have been forced to make major investments to ensure daily
Frost & Sullivan, a leading global market research and growth consulting firm, has acknowledged iVeri Payment Technologies for demonstrating technological innovation in Sub-Saharan Africa’s (SSA) banking industry. iVeri has earned the prestigious Frost & Sullivan 2015 Technology Leadership Award for its two exciting banking solutions, Payment Gateway and MicroBank+. Payment technologies in Africa have a
While there has been much hype around the mobile payment revolution in various informal markets in Africa and elsewhere, the reality is that these are still cash-based markets. In fact, cash still accounts for over 85% of consumer transactions globally. Another key and often overlooked feature of many informal markets is the high number of
Visa Inc. introduced a new specification to use biometrics with chip card transactions. The specification can enable palm, voice, iris, or facial biometrics. This first-of-its kind technology framework is designed to work with the EMV (Europay, MasterCard, Visa) chip industry standard to help ensure open, globally interoperable solutions. Biometric verification is intended to prevent fraud
Leading electronic payment solution provider in South Africa, PayU, is pleased to announce the signing of a two-way partnership with Callpay, the provider of secure payment technology for call centres. As Callpay continues to expand its presence, the agreement will provide existing and new PayU merchants with a secure way to accept payments over the
Investec Asset Management has acquired a significant shareholding in wiGroup, South Africa’s only interoperable point-of-sale mobile transacting network. Investec Asset Management will partner with wiGroup’s founder management and existing shareholder Capital Eye Investments (CEI) to support the Company’s growth and development both domestically and in new markets outside South Africa. Founded in 2007, wiGroup has
This year marks the 21st official year of eCommerce globally, after NetMarket reportedly recorded the first ever online transaction by selling a Sting CD online, on 11 August 1994. Since then eCommerce has come a long way globally, and continues to grow. Last year the industry globally accounted for $1.5 trillion in sales, and it
Although e-commerce is growing fast in South Africa and across the continent, the majority of the population in African markets is still excluded from buying online. This is no fault of online retailers or service providers – it is simply because many South Africans (and Africans) do not have their own bank account or a
