Due to the increase in Card not Present (CNP) fraud in South Africa, the Payment Association of South Africa (PASA) has made a decision to mandate the implementation of 3D Secure for all e-commerce merchants. The deadline for this implementation has been set at 28 February 2014. 3D Secure is the collective term used for
South Africa’s Standard Bank has set up an experimental internal Bitcoin trading platform, according to a presentation given at the 2014 Finovation Europe conference in London. Standard Bank has launched the pilot programme using technology provided by Switchless, a platform that enables banks to provide Bitcoin services to their customers. Photographs on the Finovate blog
PayU, a South African online payment solutions provider has reported a significant increase in merchants utilising their services from various industries, with a notable increase in general retail. New merchants signed over the last 12 months include TFG, Cape Union Mart, Safair, Toys “R” Us and DionWired, amongst others, says Charles Elliman, Head of Sales
The new British Airways Credit Card launched in Johannesburg today, now offers consumers exceptional benefits with the best Avios earn rate in South Africa. The card is tailored to meet the needs of frequent flyers, who will earn Avios at a preferential rate on all purchases on their credit card. It is designed to reward
FNB has expanded its dotFNB branch footprint by opening the first cashless bank branch on the West Rand. The new dotFNB branch has opened at Cradlestone Mall, the newly developed shopping complex in Mogale City. Following the success of the first dotFNB branch, which opened in April 2012 at Nicolway Shopping Centre in Bryanston, a
The number of people receiving money in KZN via FNB’s eWallet grew by 89.3% in 2013, showing that mobile money is fast becoming an accepted replacement for person to person cash payments. KZN is second behind Gauteng for most receipts of money via FNB eWallet. There was over R500 million withdrawn from eWallets in the
South Africa’s National Treasury has published its Electronic Services Regulations for public comment, following last year’s budget requiring foreign businesses supplying e-books, music and digital services to register as value-added tax (VAT) vendors. The regulations, according to the National Treasury, are part of the government’s bid to bring e-commerce under the VAT regime, as currently
Standard Bank Group (Standard Bank or the Group) and the Industrial and Commercial Bank of China (ICBC) have entered into a sale and purchase agreement in terms of which ICBC will acquire a controlling interest in Standard Bank’s London-based Global Markets business. ICBC will acquire, for cash, 60% of Standard Bank Plc, the Group’s UK
The variant of the Dexter virus – malware that attacks point-of-sale (POS) devices – which has resulted in financial losses for both South African banks and consumers highlights the importance for local businesses to utilise secure Virtual Private Networks (VPNs) that provide full protection against advanced threats. This is according to Mike White, Head of
Kenya, South Africa and Nigeria, and the African continent as a whole, lead the world in the uptake of mobile banking, according to a new report by mobile trade association MEF. The first report in MEF’s Global Consumer Insights Series on Mobile Money said 82 per cent of consumers in Africa engaged in mobile banking,
