With the easing of lockdown restrictions, Absa has witnessed a 231% increase in contactless card volumes (tap to pay) across debit and credit cards this year. With Black Friday once again falling over the pandemic period, consumer and retailer behaviour has been significantly altered, signaling a shift in how people transact as one of South Africa’s
This year’s Black Friday event, which has emerged to become a major highlight on the South African calendar, is expected to bring in higher sales volumes than last year as many retailers that were hard hit by decreased consumer spend in 2020 have started offering their specials ahead of schedule, giving consumers more time to
MoData, leading specialists in providing digital solutions for financial services, has partnered with technology pioneers DataVisor to deliver a comprehensive suite of AI-powered fraud management solutions to its customers across Africa. This new partnership will give MoData clients access to DataVisor’s comprehensive fraud and risk management platform, which enhances and accelerates fraud detection, keeping companies
Banks worldwide embrace new technologies and branch strategies in response to changing customer behaviour and expectations The demand for self-service continues to rise RBR’s report Branch Transformation 2021 reveals key trends in customer behaviour which help to shape and drive branch transformation initiatives around the world. One notable trend is the ongoing shift away from
Fintech and payments provider Adumo has partnered with TymeBank to extend the newly-launched MoreTyme payment offering to small and medium enterprises in South Africa. MoreTyme is a buy-now-pay-later (BNPL) payment service that offers consumers a three-instalment, interest-free payment option at the point of sale. Paul Kent, CEO at Adumo, says South African businesses and consumers
Recognising the key role that digitisation is playing in the financial lives of more and more of its customers, South Africa’s leading fuel and convenience retailer Engen is prioritising electronic payment solutions at the core of its customer offering. With over 3.4 billion litres of fuel pumped from Engen forecourts in 2020, or approximately 25%
The fintech partners with Pargo for Mukuru Card collection and extends remittance reach to include all Shoprite, Checkers and Usave stores African fintech Mukuru, leader in remittances and a host of other financial services including the Mukuru Card, funeral cover, staff payments and products to send groceries and distribute aid, has extended its partnership with
FNB has been announced as the Best SME Bank in South Africa and Africa at Global Finance’s inaugural SME Bank Awards. The criteria for Best SME Bank is based on knowledge of SME markets and needs, breadth of products and services, market standing, and innovation. FNB was recognised as the bank that best meets the
BankservAfrica went live with an Application Programming Interface (API) for its Real-Time Clearing (RTC) payments solution. The first financial transactions on RTC were processed on 20 October 2021, after the API development was completed successfully by BankservAfrica and TymeBank. TymeBank is the first South African bank to leverage this modern and agile connectivity to BankservAfrica’s
SOLMate has announced the launch of its newly branded SOLMate prepaid debit cards. In its ongoing effort to offer clients a fully-fledged financial ecosystem in their pockets, SOLMate has further enhanced its solutions with the launch of this new generation debit card. In addition to the host of payment services housed in the SOLMate app,
