Want to send, or request, money? Add a recipient. Enter an amount. Press send. Boom. It couldn't be easier. Virgin Money has launched a peer-to-peer payment app called Spot. The app lets you transfer funds from your linked bank account to a friend’s linked bank account, but without the fuss...
Mukuru has partnered with EcoCash, a Zimbabwean mobile money provider, to offer a quick and easy way of sending money to Zimbabwe. The partnership was facilitated and structured by Cassava, a wholly-owned financial technology (FinTech) subsidiary of the Econet Group. Mukuru customers in South Africa can now send money instantly...
South African bank, First National Bank (FNB), announced on Tuesday 10 October 2017 that the company's "Bank Your Change" feature has allowed FNB customers to save over R1 billion in the past 14 months from small change when shopping. ‘Bank Your Change’, a free feature which can be activated by...
AirtelTigo has commended the Bank of Ghana, the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) and all stakeholders on the implementation of Mobile Money Interoperability. “We welcome this giant step which will help our customers and all Ghanaians to enjoy increased convenience to send and receive money from one...
Greenland Fedha Limited (GFL), a microfinance institution for small-scale tea farmers in Kenya, has implemented a new software solution to improve its efficiency and remain competitive in the market. According to the institution, it had chosen the Microsoft Dynamics NAV platform. With the system in place, GFL revealed that the...
“It used to be quite simple. Customers arrived at banks through the revolving doors and opened accounts or applied for lending in-store. Banks owned the customer relationship by default and ‘see my bank manager’ was a common term,” says Mark Fitzgerald, Director - Government and Enterprise at FaceMe Fast forward,...
Africa has long been considered a global leader in fintech innovation and adoption. The continent's low penetration rates for traditional banking services coupled with high penetration of mobile phones makes it a rich breeding ground for fintech innovation, and in many respects the continent has been miles ahead of...
Amendments to Tanzania’s recently passed Finance Bill 2013 has ushered in a 14,5% excise duty on all mobile airtime, mobile services, as well as landline and wireless telecommunication services. According to research Tanzanians will have to fork out more for access to telecommunication services, which, under the Bill, is...
Over the last 15 years, technology has reshaped the face of global retail. With billions of people spending more time online each day, the way we buy things has evolved. Hundreds of billions of dollars of spending have shifted from physical shops to the web and mobile devices. Africa, like...
Renting a car can be a time-consuming process. You have to go to the rental agency, wait for the attendant to fill out the leasing forms, which you must then check and sign before even getting sight of the keys. It’s a hassle and that’s even when you remember...
Mobile money can serve as a gateway to financial inclusion, it enhances the impact of international remittances on development. Digital platforms enable a significantly lower cost to serve and increased cross-selling of products in emerging markets while smartphone adoption and internet penetration are fuelling the expansion of e-commerce. According to...
Blockchain is undoubtedly one of the hottest topics in the tech industry. When people think of Blockchain their initial thought lean towards cryptocurrencies and fintech; it is however far more than just a new payment system. Blockchain can potentially revolutionise how transactions over the Internet take place altogether. Blockchain uses cryptography...
The financial services industry has to consider the adoption of new technology trends such as cloud computing to augment their capabilities and social media to test market appetite for new products and services. The industry has historically been at the forefront of the usage of technology. This is not surprising...
People want to believe in the companies they invest in. This is where Stash comes in – the investment app now available on Android. The app has seen over 17 000 South African downloads since May 2017. Good news for Apple fans – the app is also coming to...
This week, global tech company, IBM announced that it has designed the world’s first financial services-ready public cloud. The public cloud has been designed to help address the requirements of financial services institutions for regulatory compliance, security and resiliency.  It is the only industry-specific public cloud platform that can provide...
While cryptocurrencies continue to create a boom in both local and international markets, as well as on exchange platforms, more and more of them continue to show up and make an entry in this hotly contested industry. One of the latest cryptocurrencies is the Dascoin. Here, we take a...
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