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February 28, 2024

On the web

February 22, 2024

On the web

January 17, 2024

On the web

December 18, 2023

On the web

November 30, 2023

On the web

November 8, 2023

On the web

October 23, 2023

On the web

August 14, 2023

On the web

August 1, 2023

On the wires

July 27, 2023

On the web

How Innovative Payment Solutions are Shaping South Africa’s Retail Sector

Zawya

"Today’s consumers have access to a myriad of convenient experiences through mobile apps and online platforms, and they expect a similar level of ease when interacting with businesses and specifically payment interactions. Indeed, consumer demand for better and more diverse payment experiences, coupled with the need to trade across multiple channels, is shaping the midmarket retail sector across Africa."

July 11, 2023

On the wires

June 23, 2023

On the wires

June 14, 2023

On the web

New Integrated Payment Platform to be Launched in Africa – Moment

Payments Afrika

"MultiChoice Group, Rapyd and General Catalyst today announced a joint venture aimed at developing an integrated payment platform for Africa. The joint venture will operate under a new company, called Moment. Moment offers expanded payment infrastructure for businesses across Africa to help them collect and make payments easier, quicker, and more affordable in any manner that their buyers or suppliers prefer."

June 6, 2023

On the web

On the wires

June 1, 2023

On the wires

May 31, 2023

On the web

May 24, 2023

On the web

May 18, 2023

On the web

Safaricom Granted License to Operate M-PESA in Ethiopia as the Group Revenue Hits KES 310.9 Billion in FY23

Safaricom

"Safaricom Telecommunications Ethiopia has today officially been granted the license to operate mobile money services in Ethiopia. The licence, coming seven months after the commercial launch of GSM services. The M-PESA license will open the country to the world’s largest mobile payment system and Africa’s largest Fintech, and the world’s first mobile money transfer system."

May 11, 2023

On the web

Bango, TPAY, and Etisalat Egypt Launch Direct Carrier Billing with Google To Enable IN-APP Purchases and Subscriptions for over 30 million Subscribers

GlobeNewswire News Room

"TPAY, the leading payment provider for the Middle East, Turkey, and Africa (META), today announces, through its partnership with Bango and Etisalat Egypt, the launch of Direct Carrier Billing (DCB) with Google for over 30 million subscribers. The collaboration will create an easier experience for Android users to purchase apps, games, and digital content on their devices on Google Play."

April 18, 2023

On the web

April 14, 2023

On the web

API Abuse Highlights Dangers of Unsafe Open Banking Implementation

ITWeb

"With banks in Africa lagging their European counterparts in adopting open banking, inroads are still being made as the promise of fairness, competition and innovation, which are the hallmarks of open banking, remain an attractive proposition for those looking to facilitate the secure exchange of individual and business data held by banks, with authorised third parties."

April 7, 2023

On the web

Africa’s Central Banks Lead the Way, Embrace Open Banking

The Citizen

"Nairobi. Regulators on the continent are developing frameworks that allow customers of traditional banks to engage with third-party service providers via their banking apps - blowing open a multi-billion dollar market. Nigeria in March became the first African country to launch open banking on the continent, after publishing guidelines on how traditional lenders may connect to a global digital market poised to grow from $13.9 billion to $123.7 billion by 2031, according to Allied Market Research."

March 16, 2023

On the web

Kenya’s Smartphone Market is Still Shrinking, with a YoY Decline of 13.5% in Q4 2022

Tech In Africa

"According to the latest data from International Data Corporation (IDC), Kenya’s smartphone market dropped for the second quarter in Q4 2022, with shipments down 13.5% year on year (YoY). In its report, the global technology intelligence firm said that supply shortages and rising prices were the main reasons for the drop. Also, the dollar’s exchange rate went up during the quarter, increasing import costs and street prices, which drove up consumer demand. In the fourth quarter of 2022, Samsung had a 31.7% unit share of Kenya’s smartphone market, making it the market leader. Tecno was in second place with 18.8% of shipments, and Infinix was in third place with 9.2% of shipments."

March 15, 2023

On the web

Cheques from Rival Banks to be Cleared in a Day (Africa)

Business Daily

"Bank customers who pay cheques from rival lenders into their accounts will be able to get the money cleared within one working day in fresh efforts to boost cash flow in the economy. At the moment, the process can take up to three days, removing the discrimination that has for years seen banks clear internal cheques within 24 hours. The reduced clearance period follows an upgrade of the Automated Clearing House System (ACH), the platform used by banks for electronic funds transfers and cheques."

South Africa Reserve Bank Partners with Local Banks to Launch PayShap, a Low-Payments Mobile System

BitcoinKE

"The service, backed by SARB and local banks, will allow South Africans to transfer money instantly between their phones, without a bank account. PayShap is expected to become South Africa's most popular electronic payment option by the end of this year. It could be a significant solution to displace cash as it estimates that nine out of 10 transactions in the country are still conducted in cash."

March 1, 2023

On the web

Nigeria's Cash Crisis Provides Boon for Fintech and Mobile Money Operators, Fitch Reports

Business Insider Africa

"Nigeria is experiencing a cash crisis due to a demonetisation effort by the Central Bank of Nigeria. While this has caused considerable social unrest, the crisis has been a short-term boon for the country's fintechs and mobile money operators such as MTN and Airtel Africa. The lack of physical money in circulation has been a significant catalyst to the adoption of digital financial services, as consumers have been forced to adopt digital methods of payment at point-of-sale (POS)"

January 18, 2023

On the web

Nigeria’s e-Payment Transactions Hit 5-Yr High

Businessday NG

The volume of financial transactions performed electronically in Africa’s most populous nation surged to the highest in five years in 2022, according to new data from the Nigeria Inter-Bank Settlement System (NIBSS). BusinessDay analysis of the data shows that the total volume of NIBSS Instant Payment platform (NIP) transactions rose by 613.1 percent to 5.2 billion last year from 729.2 million in 2018.

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