South African Company Wallettec is excited to announce a new partnership with BitPay, one of the largest Bitcoin payment processing companies and Bitcoin Payments, a South African BitPay Affiliate. This now enables Bitcoin transactions in the Wallettec system, making it instantly available to any payment system that is integrated with Wallettec. A first in South
Kalahari.com and takealot.com, two of the leading general etailers in South Africa, have announced that they are merging their operations. The move was driven by the fact that, without scale, SA etailers simply can’t compete successfully against the local brick and mortar retailers and foreign companies such as Amazon and Alibaba. “After many years of
FNB and Visa once again joined forces to launch their 10th Annual Card Security Week (CSW) and announced a 15% reduction in credit card fraud. Columinate, an independent research company, was commissioned to research fraud awareness and card fraud trends in South Africa. “We found that while the overall awareness of card fraud is very
The President of the Republic, Mr Jacob Gedleyihlekisa Zuma, has appointed Mr Lesetja Kganyago as the next Governor of the South African Reserve Bank (SARB) for a period of five years. The appointment is effective from 9th November 2014. In accordance with section 4(1)(a), read with section 5(1)(a)of the South African Reserve Bank Act, Act
Mike Scott, Managing Director of Ecentric Payment Systems spoke at the 4th Annual Mobile Financial Services of the Future Conference in Johannesburg, South Africa. Scott, a leading transaction processing specialist took to the stage to share insight on local retailers’ journey with mobile payments and how to craft a mobile strategy that is inclusive and
Fundtech, a market leader in global transaction banking solutions, announces that Standard Bank has selected Fundtech’s cash management solution, Global CASHplus, to provide real-time liquidity management, cash flow forecasting, and balance reporting services to its corporate customers. It will give the bank the ability to provide its corporate customers with improved liquidity through full visibility
Vodacom together with Eduloan, a leading education finance and bursary administration provider is giving students the ability to pay for educational and daily expenses from their bursary cash stipends, by using m-pesa’s mobile wallet. In the pilot phase, Eduloan bursary students will get their cash allowance deposited into their m-pesa mobile wallet. This will enable
The South Africa Banking Risk Information Centre (SABRIC) CEO, Kalyani Pillay says that bank customers must be wary when being told that a certain supplier has changed their banking details and must thoroughly verify if the details have indeed changed. The scam operates by an innocent recipient receiving an email/letter informing them that their particular supplier
Capitec Bank posted headline earnings growth for the six month period to end August 2014 of 21%. Headline earnings per share was also up 21% to 1018 cents. An interim dividend per share of 246 cents was declared, up from 203 cents a year ago. The bank reported that income was driven by client growth,
Solidarity Research, a division of trade union solidarity has released their annual Bank Charges Report. The report does a comparison of bank fees across South Africa’s top 5 banks, Standard Bank, Absa, FNB, Nedbank, and Capitec Bank. Their research found that Capitec bank has the lowest bank charges for personal transactional accounts, even for clients
