Payments Afrika’s Most Popular Articles for 2014: South Africa

2014 was an exciting time for payments in South Africa, here are a few of the top stories which made headlines over the past year. South Africa’s Top Five Articles:  FNB’s Easy Account Cheapest Full-Service Bank Account in South Africa The Solidarity Bank Charges 2013 report shows that FNB’s Easy Account is the cheapest full-service

PayPal Announces Collaboration With PayGate in South Africa

With the announcement of a partnership between PayPal and local payment service provider PayGate, it is now easier than ever for merchants to accept online payments in South Africa. “PayGate customers can now add PayPal to the list of payment methods they accept simply by ticking a checkbox,” says PayGate’s GM of business development Brendon

ACG Expands ATM Reach in Africa

ACG has inked its second reseller agreement with an African ATM firm. This most recent agreement was made with South Africa’s own TIM Trading. The deal grants TIM Trading with exclusive rights to sell and distribute ACG spare parts in several countries throughout the southern portion of Africa, including: Botswana, Namibia, Madagascar, Mozambique, South Africa,

Nedbank Unveils Africa’s First 100% Renewable Energy Powered Bank Branch

Nedbank Group unveiled Africa’s first ever banking branch that fully offsets its energy usage through renewable energy sources. The Lansdowne Corner branch situated in Cape Town utilises an innovative hybrid power installation, effectively making it a 100% off-the-grid outlet. The grid-tied renewable energy system harnesses solar and wind energy and converts this to standard mains

Ten Million SASSA MasterCard Cards Issued to South African Social Grant Beneficiaries

MasterCard and the South African Social Security Agency (SASSA) announced that there are 10 million active SASSA Debit MasterCard cards in South Africa, following the introduction of the new biometric grant payment disbursement system that commenced in March 2012. This milestone marks the conclusion of the re-registration phase of the project, with social grant beneficiaries

Nedbank Group and the Bank of China Formalise Alliance

Nedbank Group and the Bank of China (’BoC’) have entered into a strategic business cooperation agreement to grow business flows between the People’s Republic of China (’China’) and Africa. The alliance will support clients of the BoC as they look to grow and invest in South Africa and the rest of Africa by providing access

Xchanging Announces Financial Processing Services Agreement With Standard Bank

Xchanging, the business process, procurement and technology services provider, has announced it has won a new contract with Standard Bank. The contract will see Xchanging supplying financial processing services to one of Africa’s largest financial services groups, initially for one year. Xchanging was selected for its expertise in working with major banks to deliver complex

Transaction Capital announces sale of Paycorp to Actis for R937m

Transaction Capital today announced that it has entered into a definitive agreement to sell its wholly-owned subsidiary Paycorp to pan-emerging market private equity firm Actis. Paycorp, owned by Transaction Capital since 2006, is South Africa’s largest independent owner and operator of off-site ATMs and a deployer of Visa-certified pre-paid debit cards. Actis will acquire the

Capitec, FNB and Nedbank Bank Accounts Most Popular with South African Consumers

In recent ThinkMoney research, Capitec, FNB and Nedbank were revealed as the leading consumer bank accounts in South Africa. This was according to nearly 7 000 bank account reviews written by ThinkMoney users, who voted Capitec, FNB and Nedbank accounts as the most popular, both in terms of the number of reviews and a high

South Africa’s Banking Rewards Programs: A Comparison

South African banks are now all in full swing with their respective loyalty or rewards programs.  In a highly competitive banking environment, where the large South African banks are doing whatever they can to attract customers across all LSM’s, rewards programs can be used to ensure that existing customers are not tempted to switch banks.