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Peach Payment expends into Nigeria and Kenya
Peach Payments is now processing more than R1-billion in transactions per year and expanding into Kenya and Nigeria with plans for other African countries. Peach Payment has recently launched PaySafe, which has already processed transactions worth R1-million, and will change…
DPO group enters merger with PayGate
The Direct Pay Online Group, (“DPO Group”) – formerly known as 3G Direct Pay Limited announced that it has merged with PayGate (Pty) Ltd (“PayGate” or “The Company”). This merger follows the recent investment in the DPO Group by Apis…
Standard Bank launches SA’s first banking App for kids
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…
Rwanda leaps into the digital economy through e-commerce
Mastercard, Bank of Kigali and RwandaOnline announced at the technology company’s Innovation Forum in Budapest, Hungary a partnership to launch Irembo– an online payment solution in Rwanda powered by Mastercard Payment Gateway Services. Aimed at fast-tracking payments in the country,…
African growth boosts SilverBridge annual results
SilverBridge has reported strong financial results for the year ending 30 June 2016. Its net profit increased by 21 percent to R10.1 million and its cash balance improved to R27 million, up from the R18.2 million of the comparative period…
Mobile Money a big hit for South Africans
South Africans are showing significant appetite for mobile money solutions, this is according to the latest data from FNB eWallet Solutions, which shows that 4.2 million new eWallets were created over the last 12 months, a rate of about 350…
Plastic money and cash will soon lose popularity : Wendy Pienaar
More consumers are seeking online solutions, with over 460 million financial transactions processed by Standard Bank on mobile devices between July 2015 and July 2016. Of these, 23 million transactions refer to value transactions amounting to R92 billion, a 68%…
FinTech in Africa: Driving Much More Than Financial Inclusion
The rapid transition towards financial inclusion that Sub-Saharan Africa has been seeing in the last decade could not have happened without the successful adoption of mobile money. However, mobile money and financial technologies have brought Africa’s Sub-Saharan population much more…
HomeSend, Mastercard aim to transform $3bn remittance industry in Ethiopia
HomeSend and the Commercial Bank of Ethiopia (CBE) announced a new remittance service at the US-Africa Business Forum, that will allow more than 100 million Ethiopians to send funds directly to any mobile number in the East African country. Launched…
Mukuru, EcoCash simplifiy money transfers to Zimbabwe
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.…
GetBucks snaps up former Barclays digital chief
GetBucks has appointed Evans Munyuki as the company’s new Chief Digital and Information Officer. GetBucks is a subsidiary of Frankfurt-listed FinTech company, MyBucks S.A. Prior to taking up the position, Munyuki was the Head of Digital for Barclays Africa Business Bank.…
Banks grapple while nimble players eat their lunch
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,…
A study reveals how digital payments can boost tax revenue
A new study from the United Nations-based Better Than Cash Alliance provides findings about the large potential gains for governments, businesses and citizens when digitizing payments. Many emerging economies are grappling with how to modernize their economies, improve transparency, drive…
Middle East, Africa IT Spending to Top $110 Billion for the Year Despite Challenging Economic Conditions
According to the latest ‘Worldwide Semiannual IT Spending Guide, annual IT spending in the Middle East and Africa (MEA) is predicted to reach $110.94 billion this year, representing year-on-year growth of 5.1%. The global technology research and advisory services firm…
FinTech companies to tackle financial inclusion
While the developed world may take financial access – and associated financial infrastructure for granted, simple financial terms, products and services like savings accounts, debit cards and credit are completely foreign to large populations in developing regions and specifically across…
SME finance comparison website launches
A new online portal that instantly compares finance options is now available to small and medium enterprises (SMEs). The portal is helping to address the number one challenge that SMEs in South Africa face – access to finance. The first…
