Winners of the 2018 Ecobank Fintech Challenge were announced at a ceremony held at Ecobank’s headquarters in Lome, Togo on 30th August 2018. Nala, from Tanzania, beat the ten other finalists to emerge as the overall winner of the competition. Virtual Identity from South Africa and Wallet.ng from Nigeria were the first and second runners
Paystack, a Nigeria-based startup providing payments tools to businesses in Africa, has raised $8 million in Series A funding. The round was led by Stripe, and includes Visa, follow-on funding from Tencent and Y Combinator, as well as angel investors Tom Stafford (Managing Partner at DST Global), Gbenga Oyebode (founding partner of Aluko & Oyebode
In Nigeria, a country of nearly 200 million people, 61% of the adult population is un- or underbanked. Fintech companies like Paylater represent a tremendous opportunity to get formal banking services in the hands of Nigerian consumers to provide much needed liquidity for entrepreneurial investment, personal development, or unexpected expenses. Consumer credit is nearly non-existent
We’ve partnered with Paystack to allow more merchants across Africa to accept payments online in a frictionless and secure manner by leveraging Truecaller’s mobile identity product, Truecaller SDK. Paystack is one of Nigeria’s largest payments startups, processing nearly 20% of all online transactions in Africa’s largest economy. The company aims to allow merchants in Africa
Nigerian telco, 9mobile has launched a new payment service, 9pay. This is an operator-billed payment platform for Google Play store users, launched in collaboration with Google, and Bango, the leading global mobile payments company. According to its Chief Product & Information Officer, Otuyemi Otule, 9mobile is delighted to expand its mobile payment solutions in Nigeria,
The Central Bank of Nigeria (CBN) has recently released new cyber-security guidelines for banks and Payment Service Providers. According to a letter sent by CBN on the 25th of June 2018, the reasons for issuing these guidelines were “Due to the recent increase in the number and sophistication of cyber-security threats against Deposit Money Banks
Standard Bank is one of twenty-six leading banks from 5 continents, which are re-defining banks’ purpose and business models to align the sector with the UN Sustainable Development Goals (SDGs) and the Paris Climate Agreement. “Our sustainability and success are inextricably linked to the prosperity and wellbeing of the societies in which we operate. We
Heritage Bank Plc has said it is committed to innovative banking services through its transparent MasterCard. Head of Corporate Communications of the bank, Mr. Fela Ibidapo disclosed this in a statement over the weekend, remarking that; “that is the philosophy behind the bank’s e-payment offerings.” According to him, there is more to e-payment than Nigerian
Heritage Bank Plc, Nigeria’s most innovative banking service provider, has achieved the Information Security Management Re-Certification from International Standards Organisation (ISO). This certification also known as the ISO 27001: 2013 is part of the ISO 27000 family of standards which helps organisations keep information assets secure. The certification was achieved on the heels of the
Digital money transfer service WorldRemit has joined forces with First Bank of Nigeria Limited (FirstBank) for instant money transfers directly to FirstBank accounts in Nigeria. The new strategic partnership considerably expands WorldRemit’s footprint and allows its customers in over 50 countries to send money to FirstBank accounts directly from their phones. The deal supports WorldRemit’s
