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

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.

The 2013 South African eCommerce Awards

The South African eCommerce Conference will be held on 11 September 2013 at the Sandton Convention Centre and promises to be an educational and inspiring event focussing on all aspects of eCommerce in relation to the local market. uAfrica.com has secured a phenomenal line up of speakers from the likes of Google, Bidorbuy, Mxit, Aramex,

FNB Online Ranked Top for Internet Banking 2nd Time in a Row

FNB’s online banking platform has once again walked away with top honours in the 13th edition of the PwC survey on banking in South Africa 2013. This follows on the previous PwC survey in 2011, where FNB was also awarded first place. “The banking industry is dynamic and has evolved significantly since our last survey

South Africans Highly Satisfied with Online Shopping – MasterCard Survey

The latest MasterCard Online Shopping Survey has revealed that a substantial 91% of South Africans who shop online are highly satisfied with their overall experience, a 4% increase from the 87% who said the same thing in the 2012 survey. A further indication of South Africans’ positive sentiment for online shopping is that 76% of

Farmworkers Drive Increase in ATM Activity

Although latest cash withdrawal statistics released by Spark ATM Systems, indicate that the national average cash withdrawal values remained static during the month of May, ATM activity recorded at farming locations, however, revealed the highest month-to-month increase across all locations. The Spark Cash Index (SCI), which measures the average value of cash withdrawals across more

Standard Bank South Africa Launches Customer Rewards Programme

Standard Bank South Africa has launched a rewards programme. From 10 June 2013, Standard Bank South Africa customers can join UCount Rewards, a programme offering rewards for using their Standard Bank personal debit, cheque or credit card. “Our customers are our greatest asset and through this programme, Standard Bank will reward customers in a way