South African fintech group Adumo have announced R225 million ($15 million) in new funding from IFC, a member of the World Bank Group, and the IFC Financial Institutions Growth Fund to expand access to electronic payment solutions, especially for underserved small and medium-sized businesses. IFC’s investments will support Adumo to make digital payments systems more
South Africans can now shop online and pay later, interest-free over six weeks. Payflex has brought the buy now pay later shopping phenomenon to South Africa following its extraordinary popularity in Australia, the USA and Europe. Payflex customers can shop at Africa’s largest digital mall which includes over 500 well-known stores like Cotton-on, Superbalist and
While women entrepreneurs are making strides to overcome gender-related biases and advance their businesses in South Africa, they still face several structural and social obstacles, many of which have been exacerbated by the Covid-19 pandemic. This is according to the South African results of the latest Mastercard Index of Women Entrepreneurs Index (MIWE), announced on
Leading South African digital fintech enablement provider, Ukheshe Technologies has confirmed it is expanding its operations internationally. Having established itself as a formidable payment technology specialist within the B2B sector, the company has set its sights on the Middle East, Europe and Asia Pacific. The move comes on the back of several successful high-profile projects
Netcash and Cloudone.mobi have announced a partnership to make it faster, simpler and more convenient for small and medium businesses in the hospitality and retail sector to accept and reconcile payments. Included are contactless mobile payments using South Africa’s most popular QR code applications. Tight integration of TallOrder Point of Sale (POS) software and the
Customers can now deposit cash directly onto their bank card at the till point in any Shoprite, Checkers or Usave store. Together with other established in-store services like cash withdrawals, money transfers, and bill payments, this new functionality means shoppers can now perform most basic banking tasks at all supermarkets within the Shoprite Group. Cash
Hellopay to roll out Mastercard Tap on Phone technology, enabling small businesses to accept contactless payments using their NFC-enabled Android phone Hellopay, South African payments facilitator and the financial services arm of the Hello Group, and Mastercard today announced a partnership to roll out SoftPOS – a contactless acceptance solution that turns any NFC-enabled Android
South Africa’s Government Employees Pension Fund (GEPF), the largest pension fund in Africa, has reappointed Standard Bank to provide a comprehensive range of investor services product and service solutions for its portfolio of assets currently worth over R2-trillion. This follows the conclusion of the most recent five-year contract between the parties. Under the new agreement,
The South African Reserve Bank recently launched a consultation paper on the feasibility of a domestic card scheme. According to their consultation paper, the purpose of this consultation paper is to obtain opinions, views, and suggestions on the feasibility of establishing a domestic card scheme and to request stakeholders to complete a questionnaire in this
Netcash and SOLIDitech have partnered to offer an automated billing and invoicing solution for Internet Service Providers (ISPs) that use the SOLID platform to automate their sales, support and service business processes. Built in South Africa, the SOLID platform eliminates manual bottlenecks in ISP processes, from sales to collections and from support to customer relationship
