Fintech has gone mainstream and is no longer a niche sector. There are now over 26,000 fintech companies globally that employ half a billion people. The pandemic has changed consumer behaviour substantially, with 30% of banking consumers now using app banking and 64% of consumers using one or more fintech platforms. The future of fintech
In 2020, the South African e-commerce market grew by 66% and is now expected to be valued at R225 billion by 2025. As small businesses make the move into digital commerce, so begins the search for online payment methods that can offer security and reliability at a rate that maintains realistic profit margins. Now, financial
One of the leading South African retail banks has selected Twoobii as its preferred satellite services supplier for POS (Point of Sale) connectivity solutions. The successful certification is the result of stringent network testing to ensure full compliance with all security and network criteria. Now that Twoobii has been certified, the way ahead is clear
More than 10 million customers now bank with Standard Bank in South Africa. Since the start of the year 1 million new customers have joined Standard Bank. Customers are signing on to Standard Bank services taking advantage of access to digital services and offerings. Standard Bank has ensured that is has rapidly transformed its digital
The South African Social Security Agency (SASSA) is pleased to announce significant progress in migrating beneficiaries of social grants from the old SASSA card to the new gold SASSA card. The old white SASSA card has reached expiry date and it however deeply concerns SASSA that some beneficiaries are still holding on to the old
The Bancassurance service will be rolled out in phases, starting with Benin, Burkina Faso, Congo Brazzaville, Côte d’Ivoire, Gabon, Guinea Bissau, Kenya, Mali, Nigeria, Tanzania, Togo, and Uganda Ecobank Group’s (www.Ecobank.com) Commercial Banking business has partnered with five insurance companies (OLD MUTUAL, ALLIANZ, SUNU, SANLAM & NSIA) to offer a range of Bancassurance solutions to
On 1 November this year, South Africa welcomed the introduction of the DebiCheck payment system to tighten measures against debit order fraud and abuse. But as with many new policies and procedures, there has been adoption, but it is far from universal. According to Andrew Springate, CEO of PAYM8, a technology and financial gateway service
FNB’s mobile virtual network operator, FNB Connect, has partnered with Vox Telecom to launch a fibre solution to help SMEs with their telecommunications needs. FNB Connect is also introducing new software vouchers, including Microsoft 365 and antivirus solutions such as McAfee and Norton, that FNB and RMB Private Bank customers can access via their banking
Mukuru, one of the largest remittance companies in Africa and a leading next generation financial services platform, has announced that its Mukuru Card has been activated for online purchases in South Africa, allowing holders of the card to take part in the eCommerce revolution even if they don’t hold traditional bank accounts. Mukuru CEO Andy
The Flooid Unified Commerce Platform provides cornerstone for future innovation across Woolworths South Africa stores and restaurants Leading sub-Saharan African retailer, Woolworths South Africa, has completed an overhaul of its store Point of Sale system with global unified commerce platform provider, Flooid, to support long-term technology plans. During the past 24-months, Woolworths SA has fully implemented new
