Lesaka Technologies saw its share price surge by 17.1% on Friday morning following the announcement of a binding agreement to acquire 100% of South Africa’s digital lender, Bank Zero Mutual Bank, in a transaction valued at over R1.091 billion. Under the terms, the acquisition will be settled through a combination of newly issued shares—resulting in
Mastercard and enza, a payment solutions company, have collaborated to connect fintech companies across Africa to the Mastercard network. This collaboration will enable fintech players to build propositions on the enza platform that serve both consumers and businesses with embedded Mastercard payment solutions capabilities. According to a report by the European Investment Bank, the number
If you’re a fintech operating in South Africa, your business relationships with a Politically Exposed Person (PEP) could lead to a very serious misstep within your business without the proper due diligence. That’s because screening for PEPs and Prominent Influential Persons (PIPs) is an increasingly important aspect of Anti-Money Laundering (AML). South Africa’s Financial Intelligence
Cross Switch, a global payments technology company, has found a strategic collaborator in its mission to bring faster, smarter, and more scalable payments to emerging markets. In partnership with South African fintech leader Paysoft, these two forward-thinking platforms are joining forces to swing the axe against digital transaction logjams that hamper South African businesses. Be
Al Baraka Bank Egypt has announced the launch of a cooperation program in the field of foreign trade with Al Baraka Bank South Africa. The initiative aims to enhance economic and financial collaboration between the two branches through Al Baraka’s digital trade platform, as part of the broader Al Baraka Banking Group’s strategy to create
SPAYZ.io, a leading provider of innovative payment solutions, is entering three new African markets – South Africa, Egypt, and Cameroon. The move is part of fintech’s ongoing vision to transform digital commerce in Africa’s emerging markets by offering tailored local payment solutions. SPAYZ.io has been actively assessing countries in the region as part of its
Synthesis is driving digital transformation in financial services, helping banks evolve with agility, security, and innovation. With over 20 years of experience, it delivers solutions across cryptography, cloud, data, payments, RegTech, digital transformation, and SoftPOS – built for the demands of modern banking. As cyber threats grow in complexity alongside technological advancement, Synthesis leads the
Stitch, a South Africa-based payments infrastructure company, raised $55 million in a Series B funding round to expand its offerings for enterprise merchants. Stitch said in a press release emailed to PYMNTS that the company will use the new funding to deepen its in-person payments offering, bolster its online payments suite, and enter the acquiring
This article was originally published here. Cross Switch, a leading provider of innovative payment solutions, has reached a significant milestone by securing its own Third-Party Payment Processor (TPPP) licence. The TPPP, issued by the Payments Association of South Africa (PASA) and sponsored by Absa, is a regulatory status that strengthens Cross Switch’s position in the
Vulindlela Moyo, Client Director at O-CITY Digital transformation is reshaping economies across the globe, and South Africa is no exception. Payment solution providers, including automated fare collection solution providers, are spearheading the change by delivering world-class digital technologies to improve people’s daily lives. Popular apps like MyCiTi, Rea Vaya, and Uber exemplify the growing adoption of digital
