Headline earnings from continuing operations increased 12% to R9 338m. However, headline earnings which were negatively affected by the performance of discontinued operations, increased by 2% to R8 306m. Headline earnings per share were up 1% while the group’s return on equity showed a decrease to 12.7% from 13.8%. As communicated to shareholders in June
Absa Bank Limited is pleased to announce that it has completed the acquisition of approximately 850 ATMs and all related franchise agreements from the Bytes Managed Solutions division of Bytes Technology Group South Africa (Pty) Ltd (“Bytes”). Absa entered into an agreement with Bytes, which is a wholly-owned subsidiary of JSE-listed Altron Group, to acquire
Mike Brown, Nedbank Group Chief Executive has announced the following changes to the banks’ Group Executive Committee (Group Exco). Mfundo Nkuhlu to succeed Graham Dempster as COO and appointed as Executive Director Graham Dempster, the current Chief Operating Officer (COO) and Executive Director reaches normal retirement age in May 2015. The portfolio comprises Group Technology,
South Africa’s retailers, financial institutions and brands are gaining pace with international competitors in adopting technologies such as near-field communication (NFC) for mobile and cashless payments. Two years ago, it was predicted that the high cost of installing point-of-sale terminals and other enabling infrastructure would hamper adoption. However, several companies have implemented such systems so
SureSwipe, a leading Payment Services Provider (PSP), has launched SureSwipe Move – the first Mobile Point of Sale (MPOS) solution in South Africa to achieve Point-to-Point Encryption (P2PE) certification from the PCI Security Standards Council. This means that SureSwipe Move’s secure devices, applications and processes comply with the Standards governing the encryption of card data
Perago, a wholly-owned subsidiary of SIA, has signed an agreement with Swish Payments Ltd., a mobile commerce provider owned by leading South African payment service provider Setcom Payment Solutions, to support its new m-commerce initiative in Africa and Europe. Through SIA’s technology infrastructure, Perago will enable the Swish solution that utilises a mobile app and
The FNB Banking App turned three years old this weekend. The Banking App was the first of its kind in South Africa, when smartphones became available to FNB customers in 2011. FNB was also the first to launch the Banking App specifically designed for Tablets in April 2013. “From winning the title of MTN; App
With EMV’s continued expansion overseas and impending adoption in the U.S., fraudsters are turning away from scamming physical credit and debit cards and instead setting their sights on the card-not-present space online. In an effort to further protect its customers from potential fraud online, South African-based Nedbank has partnered with Entersekt, to integrate the solution
What is an Internet Merchant Account? A standard Merchant Account is a facility established by a bank which enables a company to route money from credit card sales to an account which holds it before transferring it to the business’ own account. Any business which wishes to accept credit card payments must therefore have a
PayFast sellers can start accepting Bitcoin payments from local and international buyers. (Note that Bitcoin payments are currently in beta testing mode.) PayFast entered into an exciting partnership with South Africa’s biggest Bitcoin exchange, BitX, which will allow buyers to make Bitcoin payments to PayFast sellers. What makes this different from most Bitcoin platforms/transactions, is
