Steward Bank, a subsidiary of Econet Wireless has introduced a new banking concept. The new model, known as correspondence banking, is a system where a financial institution provides services on behalf of another equal or unequal, financial institution. Through correspondence banking, the financial institution can conduct business transactions, accept deposits and gather documents on behalf
MasterCard’s subsidiary, Access Prepaid Worldwide, in collaboration with First National Bank (FNB) introduced the MasterCard Multi-currency Cash PassportTM to customers, providing them with a safer and more convenient alternative to foreign currency notes when travelling. The Chip and PIN protected travel payment card is secure and easy to use and can be loaded with up
Heartland Payment Systems, the nation’s fifth largest payments processor and a leading provider of merchant business solutions, has introduced a feature-rich mobile and online ordering solution to help restaurants of all sizes remain competitive. Heartland Mobile and Online Ordering, in partnership with ToGoTechnologies, provides restaurateurs and consumers alike a convenient ordering experience that has previously
East African countries introduced various reforms including liberalization of the financial sector about two decades to sustain their economic growth. The countries namely, Tanzania, Uganda and Rwanda have seen huge gains but are paying a price at the expense of banking ethics and professionalism. Before the liberalisation, central banks in the region were custodian of
E-commerce in Africa is set to receive a boost as United Bank for Africa (UBA) Plc has introduced an online payments and collections platform tagged U-bills. The online payment platform has been enabled in all the 19 countries where UBA has operations. U-bills, is a collection and bill payments platform that allows sellers to collect
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