South African Minister of Finance, Tito Titus Mboweni, delivered the 2019 Budget Speech on Wednesday, 20 February, addressing government expenditure as set out for the year. "As we look to the future, I see the following huge shifts in society and the world," Mboweni said on the topic of technology. "The first...
Financial inclusion is a critical engine of economic development at both macro and micro levels. Technology – and access to mobile phones – could make financial services accessible and available to nearly 4 billion people who are ignored or underserved, without access to formal financial systems – thus depriving...
5 African banks have signed up to SWIFT’s global payments innovation (gpi) service, the new standard for cross-border payments. Of these, four are already live – Standard Bank of South Africa, FirstRand Bank, ABSA Bank and Nedbank - and many others are preparing to go live on the service in...
TotalSend has announced the addition of Push Payments to its product portfolio. The launch of Push Payments, according to the firm, will see TotalSend step into uncharted waters and form a unique category of being able to integrate payments into digital messaging. This means that bills can now be received...
Fintech software specialist, e4, has announced the appointment of Grant Phillips as the Chief Executive Officer of the Group. Having previously run large multinational technology businesses, Phillips has been working with e4 and its shareholders for the past 18 months and formally joins the company’s executive management team as...
A study conducted by Forrester has revealed that millennials are actively looking for financial guidance more than their older counterparts. The "Millennials Want Financial Advice, With or Without Humans" study revealed that in Europe, 32% of online adults between the ages of 18 and 37 say they “rely on...
Imagine a world where you never have to worry about having your bank card with you or remembering a long list of passwords and PIN codes. The time you’d save not having to dig in your handbag or pockets for some cash or a card to pay for your...
On Black Friday, 24 November 2017, many of the South African eCommerce companies experienced massive spike in traffic on their various websites. Matching this spike, payment services provider, PayU, facilitated an increase of around 8.5 times the transaction volumes from 2016's Black Friday and experienced 0% downtime across all...
Digital money transfer service WorldRemit has signed a direct partnership with Safaricom to enable instant cross-border money transfers to 28.6 million M-PESA mobile money accounts in Kenya. The direct partnership marks the culmination of years of rapidly growing volumes of international money transfers to M-PESA accounts by WorldRemit users, and...
PayToo Merchant Services Corp. unveiled a new mobile payment solution that uses facial recognition. PayToo SmileandPay is the newest technology incorporating QR Code features and facial recognition to verify payment. It replaces the need to remember passwords and aims to simplify the payment process while mitigating fraudulent activity for...
On Wednesday, 18 April 2018 First National Bank (FNB) announced the launch of eWallet eXtra, a mobile bank account that allows unbanked and underbanked South African consumers to use a feature phone or a smartphone to open a bank account without ever walking into a branch. eWallet eXtra will have...
Standard Bank, one of Africa’s largest bank by assets, is setting a new standard in digital payments with the launch of Africa’s first virtual card ecosystem. This launch comes in tandem with a partnership with Samsung to support and enable the new Samsung Pay wallet as the bank’s drive to...
Kenya has once again attracted another multi-national company with the re-entry of Japanese imaging and business solutions brand Canon. Yuichi Ishizuka, President and CEO of Canon Europe Middle East and Africa (EMEA) recently visited Kenya as part of a regional tour of Africa. The visit reinforces Canon EMEA’s commitment to drive...
Within an African e-commerce sector which is plagued by cash, with the majority of payments still being made in cash at the point of delivery, Mastercard has partnered with Nigerian tech start-up, NetPlus to develop an e-commerce solution that will help make cash a thing of the past, for...
Standard Bank launched a first-of-its kind smartphone and tablet game-like animated banking app for children. The Standard Bank Kidz Banking App is available initially only to Android users, it is designed primarily for kids between the ages of 6 and 11, and is essentially a tool designed to engage...
An online platform which aims to drive intra-Africa trade is set to launch in Kenya next month. Traders of Africa (TOFA) already has its presence in Nigeria, Uganda and Rwanda. The platform will also launch in Ghana. The e-commerce company is focused on developing an online marketplace for the...
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