FNB says that it is expecting a 10% increase in the total number of eCommerce transactions over Black Friday and Cyber Monday - as many consumers who participate in Black Friday may opt to shop online instead of going into brick and mortar stores. This is comparable to 2019 where...
FNB Card CEO, Chris Labuschagne has revealed that the bank will delay the launch of its virtual credit cards until 2021 - a strategic move that is said to "ensure that the launch process goes as smoothly as possible for its customers". “FNB is excited to confirm that it has...
Mobile financial services are a global game-changer with an open money network being the connection needed between the financial industry and telecom to increase both the commercial and social benefits. As the world grapples with an unprecedented crisis in the form of the COVID-19 pandemic, consumers are cautious to use...
Amazon, Facebook and Microsoft revenue grew by 35%, 17% and 13% respectively during the first nine months of 2020. On the other hand, Alphabet’s (Google) revenue increased by 9% and Apple’s revenue was up by 4% during the same period. According to the research data analyzed and published by Comprar...
Paxful has partnered with Uhuru Wallet to add a new payment method to its platform. This collaboration is expected to give South Africans access to the crypto economy, making it easier to make money transfers.  The cost of financial transactions in Sub-Saharan Africa can be sky-high. Fortunately, the global crypto-currency...
The World Bank has estimated that Africa could potentially hold 90% of the global poor population by 2030 and has recently cut its economic growth predictions to between -2.1% and -5.1% in 2020 from the 2.4% of 2019. The situation has been significantly worsened by the global pandemic, as the continent hits...
Airtel Africa has reported double-digit growth and stronger performance in Q2, with revenue up by 19.6% - in spite of interruptions from COVID-19 and the associated restrictions on activities of both consumers and businesses. The telco saw growth across every region; Nigeria revenue increased 20.2% and EBITDA growth of 21.5%,...
Vodacom has joined forces with AFI to drive financial inclusion across Africa through knowledge sharing with financial policymakers and regulators. According to the companies, the partnership, which runs until October 2021, should enhance select AFI member services and platforms with private sector insights. “AFI members in Africa are among the world’s...
Bitcoin is a popular cryptocurrency across the world today and even African countries are already picking up the pace. So far, Africa looks promising for cryptocurrency, and the Arcane Research Report on the State of Crypto in Africa further buttresses this point. This is due to several common factors...
Stripe has revealed that it has entered into an agreement to acquire Paystack, a payments collection company based in Lagos, Nigeria. According to an official statement, Paystack works with more than 60,000 businesses in Nigeria and Ghana to securely collect online and offline payments. It also processes more than half...
The pandemic has emphasised, beyond a point of reasonable doubt, the importance of technology to our modern world. Just as video calling and messaging have allowed us to work, study and socialise, fintech has played a similarly critical role in ensuring that people can still access the banking system. However,...
The accelerating rate at which retail merchants are enabling consumers to pay digitally at point of sale is said to be fueling the growth of digital payments in South Africa. This is according to FNB, which revealed that its Scan-to-Pay and Tap-to-Pay functionality on the FNB APP recorded the...
Mukuru has upgraded its app and added a new self sign-up feature to its WhatsApp offering. The new app - available on Android and IOS - will allow users to send money to 12 countries including Botswana, Bangladesh, DR Congo, Eswatini, Kenya, Lesotho, Malawi, Mozambique, Pakistan, Uganda, Zimbabwe and...
Mobile money transaction company, Pegasus technologies has suffered a major data breach resulting in the loss of billions of Ugandan Shillings - according to PLM Daily. The breach is said to have impacted telcos, Airtel and MTN Uganda, as well as Stanbic Bank, Uganda’s largest bank. “Stanbic Bank Uganda, MTN...
FNB has revealed that shoppers across South Africa will now be able to make QR code payments at all standalone sale terminals. The bank says that this forms part of the ongoing expansion of its payments ecosystem and integrated App-based QR code, aimed at accelerating the adoption of digital payment...
Jumia and Airtel Kenya have partnered to allow consumers to complete their online payment transactions using Airtel Money. “Millions of Kenyans rely on mobile money daily to make fast payments. By expanding our payment options to include Airtel money, it will make it easier for more consumers to incorporate online...
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