The purpose of this communiqué is to announce the adjusted interchange rates for automated teller machines (ATMs). The South African Reserve Bank (SARB) annually reviews interchange rates for transactions emanating from the ATMs, cards and point-of-sale devices. In 2018, the SARB decided to keep the interchange rates for cards and cashback at point-of-sale devices unchanged.
African Bank has officially launched its transactional banking offering called MyWORLD, to South Africans. The introduction of MyWORLD has elevated African Bank to a digital retail bank, offering a variety of products including transactional banking, personal loans, savings and investments and insurance. “Our increased and diversified product offering, underpinned by our Omni-channel platform, will enable
The Minister of Social Development, Honourable Susan Shabangu has appointed Busisiwe Memela-Khambula as the South African Social Security Agency (SASSA) Chief Executive Officer (CEO). She takes over from Abraham Mahlangu who was the stand-in CEO since 2018. Memela-Khambula comes with a vast senior management experience in the private, public and developmental sectors of the economy
The Tribunal has this afternoon approved Capitec Bank Limited’s (Capitec) acquisition of Portuguese-owned Mercantile Bank Holdings Limited (Mercantile Bank), which paves the way for Capitec to enter the business banking market. Capitec was selected by the Portuguese government as the successful bidder after approximately 60 expressions of interest from foreign and local bidders were initially
Aconite Technology Ltd is proud to announce that Discovery Bank, a new digital-only challenger bank launched by Discovery Central Services Limited, the leading South African insurance and financial services provider, has started issuing and processing EMV debit and credit cards using Aconite Technology’s EMV solution suite. This initiative is part of Discovery’s expansion from a
uKheshe, South Africa’s cheapest and most convenient QR cash card has announced the launch of uKheshe Life, a hospital, disability and life benefits card. Offering all of the features that the normal uKheshe QR card does, but also including added hospital & life benefits for the card holder. Clayton Hayward, co-founder, uKheshe, says that in
AfrAsia Bank, headquartered in Mauritius with a representative office in South Africa has chosen Oracle Human Capital Management (HCM) Cloud Application to deliver an exceptional employee experience, retain best talent and be recognised as an employer of choice. Under this implementation, the bank created a single point of truth for its 400 employees providing more
First National Bank (FNB) has launched a new functionality on its banking app that enables customers to shop directly from the app. The eBucks Shop, which was previously only accessible on the eBucks website, offers customers exclusive pricing for products ranging from tech and gaming to appliances and outdoor. FNB is the first bank to
Standard Bank Group has appointed Mr. Tau Mashigo as its new Chief Technology Officer (CTO), effective 1 April, reporting to the Chief Information Officer (CIO). Mashigo will drive and support Standard Bank’s strategic intent to become a fully digital organisation and assist in the transition to Cloud technology. The digitisation and data strategy will see
The country’s leading retail bank has once again ensured a solid set of financial year end results, driven by its simplified and transparent banking solution delivered through innovative technologies. The bank’s offer, built on its commitment to making banking affordable, easy to access and delivered through a personalised experience, continues to resonate with clients. Their
