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Kenya’s Direct Pay Online Group buys EFT firm to grow e-payments
The Direct Pay Online Group (DPO) has announced the acquisition of Setcom (Pty) Ltd, which operates SID Instant EFT, an instant electronic funds transfer (EFT) solution in South Africa. The deal will complement DPO’s payment solutions across the continent, which…
Equity Bank launches mobile services in Rwanda
Equity Bank has introduced a range of digital solutions in Rwanda. The Eazzy Banking suite of products includes the EazzyBanking app, which is available for both Android and iOS. The app enables customers to open accounts, send money to bank…
PayU South Africa sees huge traffic spike from Black Friday
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…
Bitcoin surpasses the $10 000 mark
On Tuesday 28 November 2017, for the first time since the creation of Bitcoin in 2008, the cryptocurrency surpassed the USD $10 000 mark and it shows no signs of slowing down as it continues to climb towards $11 000.…
FNB awards R10.5 million to employees at FNB Innovators Awards
First National Bank (FNB) has announced that it has awarded over R 10.5 million to its most innovative employees for radically disrupting and introducing game-changing innovations within the financial industry through its FNB Innovators Awards. This adds to the overall…
Banks that are not ready for digital disruption will struggle
The banking industry continues to experience disruption – by new players, new opportunities and new risks – influenced by a number of forces including Application Programming Interfaces (APIs). Although some financial institutions such as Citi are using their APIs to…
Nigerians warned of cryptocurrency risks
Nigerian Deposit Insurance Corporation (NDIC), the country’s financial sector insurance regulator, on Monday 27 November 2017, again warned Nigerians against the risk of trading with digital currencies not issued by the Central Bank of Nigeria (CBN). The warning comes after…
Are travel agents ready for the new payment security standard?
The International Air Transport Association (IATA) of South Africa has issued an edict that all IATA accredited air ticket distributors – or travel agents – must comply with Payment Card Industry Data Security Standards (PCI DSS) by March 2018. While…
Djibril Diallo appointed VP Business Development at TransferTo
TransferTo, a Cross-Border Mobile Payments Network for emerging markets, has announced the appointment of Djibril Diallo as VP Business Development to head operations across West and Central Africa. The move comes as the company looks to ramp up its activity…
Identity ecosystem must learn from banks’ example
The recent high-profile identity data breaches in South Africa are symptomatic of the overall chaos the identity ecosystem currently finds itself in. Lacking a cohesive strategy, an interlinked architecture and a comprehensive regulatory framework, most organisations have been building their…
Should you be investing in initial coin offerings just yet?
Initial coin offerings (ICOs), also referred to as token sales, have become the latest fintech trend gaining popularity in the cryptocurrency environment. But what are they? Simply put, ICOs are used to raise investments for a particular project. But instead…
Republic of Congo’s financial economy gets digitised
LCB Bank, a subsidiary of BMCE Bank Of Africa Morocco Group, and Mastercard announced their partnership focused on digitising the Republic of Congo’s financial economy in support of the countries desire to financially empower its citizens. The partnership agreement will…
Better banking through technology
South Africa has been acknowledged for years for our sound, advanced banking system. However, at the onset of the fourth industrial revolution, with humans and technology interacting like never before, we face an interesting balancing act. Disruptive financial-services innovation is…
Assessing the cryptocurrency landscape
The evolution of cryptocurrencies means there is potential to be “incredibly surgical” in terms of regulation and the enforcement of transparency, but regulators are still facing resource constraints and other limitations in their efforts to get on top of this…
Data intelligence driving financial decisions
As the world delves ever deeper into the Fourth Industrial Revolution, modern enterprises are forced to evolve their operational practices. With this digital transformation comes an onslaught of information, resulting in massive datasets and the responsibility to analyse this data…
WorldRemit and Arsenal sign first official money transfer partnership
Digital money transfer business, WorldRemit, announced on Friday 17 November 2017 that the company has signed the first official online money transfer partner of English Premier League club, Arsenal. According to the business, which was formed by a UK-based entrepreneur…
