Hundreds of thousands of South Africans are paying for their goods by using buy now pay later (BNPL) which is growing 10 – 15% per month and recorded a 50% hike from the first to the second quarter of 2022. According to Payflex, South Africa’s largest BNPL provider with over 300 000 customers, BNPL payments
FIS is now offering a central infrastructure payment solution through RealNet™ Central, which enables countries to modernize or build their own real-time payments network. Additionally, FIS is launching a Central Bank Digital Currencies (CBDC) Virtual Lab that will allow countries to experiment, pilot and accelerate live CBDC implementations. With real-time payments increasing, many countries must
Tata Consultancy Services (TCS) announced that Absa Corporate and Investment Bank has selected TCS BaNCS™ Global Securities Platform to transform and modernise its investor services offerings and enrich customer experience across the trade and corporate actions lifecycle in South Africa. Absa Corporate and Investment Bank is a service leader in the African capital markets industry,
Absa has expanded its digital payments universe with Google Wallet™, amid rapidly growing customer demand for convenient, innovative and secure digital payment options. “Following record increases in contactless card volumes last year, with debit and credit card usage surging by 231% and transaction volumes rising by 180%, customer demand for reliable contactless wallet payment and
We continue to strengthen our position as the trusted partner to the banks and the central banks, a provider of essential cash services to the countries that we serve, and as a leader in risk management. As we continue this journey, we can proudly attest to the closing of another successful financial year ending June
Banking enabler Direct Transact achieves seamless migration to Teraco data centre for 15 major financial institutions, ensuring no downtime or disruptions in the SA payments system and that the entire financial ecosystem gains a major boost in scalability, reliability and global competitiveness. Fifteen major South African financial institutions have successfully migrated all their sensitive business
Standard Bank Group (“Standard Bank” or “the group”) delivered record headline earnings of R15.3 billion for the six months to 30 June 2022 (1H22 or the current period), up 33% on the prior period. This performance was underpinned by continued balance sheet and franchise growth. Headline earnings: R15 263 million, up 33% Headline earnings per
The South African payment ecosystem will need to increase cooperation if it hopes to reduce the country’s over-reliance on cash. And, while the regulator still has a big part to play in the solution, flipping the way payments are generally incentivised in favour of the consumer, as well as finding ways to better incentivise businesses
Embedded finance solutions are a game-changer for how financial services are delivered in emerging markets across the globe and beyond, says Anton Coertzen, Chief Commercial Officer of fintech enabler, Ukheshe The embedded finance market is expected to grow to tenfold its 2020-value by 2025 – just three years from now. The term has been generating buzz
The launch of Yellow Pay not only makes it easier for money transfer but also opens up the continent to more investment, access to credit, business grants Yellow Card Financial is proud to announce its new payment feature – Yellow Pay. This innovative solution will make it easier for customers to send and receive money
