Banking customers who traditionally bank via branches are embracing in-branch digital banking channels, says First National Bank (FNB). The bank says its customers are increasingly using its spread of in-branch Digital Zones and free WiFi. Significantly, branch personnel are also able to help customers download the bank’s zero rated App to conduct most transactions they
Mastercard has announced a collaboration with South African fintech company Yoco to roll out 15,000 mobile Point of Sale (mPOS) devices to small and medium-sized businesses by the end of the year, while educating them on the benefits of going cashless. To start accepting card payments, business owners simply connect the Yoco card reader to their
The South African-based fintech startup that offers the cheapest cross border money transfer rates into key African countries and now into India, has introduced the easiest online registration process using its app – taking a photo and a selfie. This is a first in South Africa and is approved by the Financial Intelligence Centre and
Kazang, the micro-payment processing service which was acquired by Paycorp in 2014, has acquired 49% of Sandulela Technology, a wholesaler of prepaid electricity to third parties. Sandulela will remain under the leadership of CEO Nkululeko (Nk) Mvulana who founded the company ten years ago, and will retain its Level 2 BEE rating. The two companies
The South African banking industry is aware that the findings of research conducted by the Cyber Intelligence Research Group and specifically the Cyber Exposure Index may cause unnecessary fear, uncertainty and doubt. Whilst research is an important component for the development of cybersecurity products and services, an organisation’s cyber risk exposure cannot be determined purely
ThisIsMe won top spot at the African Fintech Awards hosted at the Finance Indaba last week. The business tied with Easy Equities after two days of intense pitching battles and an extensive voting process that involved the public. ThisIsMe also claimed the Innovative Banking title, with its focus on fast FICA using multi-factor identity verification,
Smartphones are the new hub from which tech-savvy consumers run their financial lives. In the developed world, bank branches are closing at an accelerated rate due to a decline in the use of cash and the huge uptake of digital payment systems. In the UK, the number of physical branches has more than halved since
The issues of the South African Social Security Agency (SASSA) expiry card has brought a lot of uncertainty among social grant beneficiaries who are now living in fear of what will happen when the card expires on 31 December 2017. SASSA would like to assure beneficiaries of social grants that the matter has been dealt
The short term loan or micro-finance market landscape has changed quite dramatically over the past five to ten years due to some interesting influencing factors. These include stricter regulations relating to the affordability of loan applicants, consumers making more educated decisions when obtaining loans, and loan providers behaving more responsibly when they grant them, says
South Africa’s premier independent ATM deployer, Spark ATM Systems, has announced record installations for their third quarter, with 73% growth compared to their previous best quarter. This significant growth follows the company’s January 2017 acquisition by Cardtronics plc, in a move that marked the world’s premier ATM services provider’s entry into the South African market.
