According to KPMG International’s The Pulse of Fintech, a quarterly report on global fintech investment, 2016 experienced a decline in the market with a 47.2% slide in fintech investment, this is after 2015’s record-setting US$46.7 billion in total global funding to fintech companies. The 2016 fintech funding total of...
On Monday the 50-year long monopoly enjoyed by the JSE (Johannesburg Stock Exchange) ended as South Africa’s first alternative exchange- ZAR X made its debut with the listing of agri-business Senwes and its holding company Senwes Beleggings (Senwesbel) according to a report by MoneyWeb. A report by Fin24 stated that since...
In a bid to increase internet penetration in South Africa,  Finance Minister Pravin Gordhan has announced in the 2017 Budget Speech, that the Ministry of Telecommunications and Postal Services is set to receive R1.9bn over the medium term to invest in high-speed internet connections in public buildings and schools...
Budget Speech 2017/18 cushions the blows of a weak economy for the poor and asks the wealthy to pay more. With the South African government facing a R28 billion shortfall in tax revenue collection, Budget Speech 2017/18 was never going to have much good news for consumers and business builders....
Facebook users in the United States, Canada, Australia and Europe can now use Facebook Messenger to send and receive money. TransferWise, a money transfer company launched the service on the Facebook chat application. The feature can also be used to set up exchange rates. TransferWise was launched in 2011 by...
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...
Unfortunately, if you thought 2016 was a wild ride, it is likely to just have been the opening salvo before more upheaval. The foreign exchange market is set to be even more volatile in 2017 than before. Thanks to the Trump election, Brexit, possible populist wins in Europe, wars...
BT (British Telecoms) has announced that it will be linking up the world’s five main foreign exchange (FX) locations to help boost the competitiveness of its global financial industry customers. The company will now be offering BT Radianz FX express, dedicated high-speed links between financial hubs in the UK,...
In a bid to boost revenue by hundreds of millions of Rands, retailers are increasingly selling virtual products and services known as Value Added Services (VAS). However, it is not as simple as selling normal stock as VAS which includes products such as; prepaid airtime, prepaid electricity, gift cards, bill...
More than half (52%) of South African Internet users are eager to make mobile payments, according to market research from GfK. That means that small merchants that are not yet putting payments systems in place that support digital wallets are missing a trick. A digital wallet is a smartphone app...
TerraPay, a mobile international payment network, has announced that it has partnered with MoneyTrans, a leading Money Transfer company established in Europe and Africa as well as Paga, Nigeria’s pioneering payments and financial services company, to launch cross-border remittances from Spain to mobile wallets in Nigeria. Nigerians in Spain can...
Traditional and mobile banking institutions have been urged to be transparent in their dealings by the business regulator, Communications Authority of Kenya (CA). This, according to Kachwanya.com, has resulted in Safaricom Limited updating mobile money transfer service, M-Pesa, to be in line with the regulators directive. Steephen Chege, Director, Corporate Affairs...
On Wednesday afternoon, South Africa's Competition Commission announced that they would be referring a case involving 17 banks to the Competition Tribunal; this after said banks were accused of carrying out acts aimed at manipulating the value of the South African Rand. According to reports, there appeared to be a general agreement...
For most of us, banking is a ‘grudge purchase’. We don’t wake up in the morning and look forward to paying accounts, drawing cash from the ATM, or buying airtime. Our interactions with our bank’s call centres or branch staff generally relate to some type of problem that’s occurred. Since...
Deloitte hosted the Blockchain Africa Forum on the 15th of February at their offices in Woodmead, Johannesburg. Deloitte brought in their Blockchain experts from their Grid EMEA Blockchain Lab in Ireland to help de-mystify one of the most controversial and highly debated topics in technology. Leaders of industry from...
Mastercard commits to empowering over 150,000 Micro, Small and Medium Enterprises (MSME) in Kenya within 2017 by giving them access to Masterpass QR. The mobile driven, Person-to-Merchant payment solution will be introduced through various financial institutions and other partners in the market from February onwards. According to Kenya’s Micro and...
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