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November 13, 2024
On the web
Reserve Bank’s Big Move to Go Cashless in South Africa
Business Tech
"BankservAfrica has announced that the South African Reserve Bank (SARB) intends to acquire 50% of the clearing house as part of its move to boost cashless payments in the country...The SARB and other stakeholders, including the Consumer Goods Council of South Africa, have made a concerted effort to eliminate cash in South Africa and move to safer digital payment methods."
November 12, 2024
Top Post
FNB Launches First Instant Cross-Border Payment Solution in SADC
The Namibian
"First National Bank (FNB) has become the first financial institution in the country to introduce an enhanced cross-border payment solution. The bank will utilise BankservAfrica’s Transactions Cleared on an Immediate Basis (TCIB) solution. Through its implementation, the bank now enables near real-time payments, reducing the barriers to cross-border financial transactions, promoting regional trade and economic growth."
November 11, 2024
Top Post
Mastercard and Emirates NBD Partner to Empower a Virtual Future for B2B Travel Payments
Mastercard
"Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region and Mastercard have partnered to introduce the Emirates NBD Wholesale Travel Solution, an innovative virtual card based B2B payment product now available to travel agencies."
On the web
BankservAfrica Announces the SARB’s Intention to Acquire 50% of the Company
BankservAfrica
"BankservAfrica is pleased to announce a significant industry collaboration with the South African Reserve Bank (SARB), intended to transition the company into a national Payments Utility through a collaboration with commercial bank shareholders."
Over 30 Financial Institution in Southern Africa To Adopt BankservAfrica’s Cross – Border P2P Clearing System
BitKE
"Over 30 financial institutions from countries within the Common Monetary Area – such as South Africa, Eswatini, Lesotho, and Namibia – are set to adopt BankservAfrica’s instant cross-border payment system, according to Ruhling Herbst, the organization’s strategy and transformation officer. [Video]"
November 6, 2024
On the web
FNB and BankservAfrica Join Forces for Cross-Border Payments Solution
BankservAfrica
"To meet the evolving needs of its customers, FNB has partnered with BankservAfrica for its Transactions Cleared on an Immediate Basis system. This solution will process low value payments within the Common Monetary Area of South Africa, Namibia, Lesotho and eSwatini immediately."
October 21, 2024
On the web
Why Mobile Payment Is Booming in Africa
The Independent Uganda
"On the bustling streets of Nairobi, the green glow of the M-Pesa (a mobile money platform) logo is inescapable, from high-end hotels to street vendors. Across Africa, digital payments are booming, with 17 percent of consumers using them daily and nearly half at least weekly in 2023."
September 24, 2024
On the web
India Payments Authority Eyes Africa, S. America for Digital Payment Push, Official Says
MSN
"India is in talks with countries in Africa and South America to help them build a digital payments system using its homegrown Unified Payments Interface (UPI) as a blueprint and expects two launches by early 2027."
September 19, 2024
On the web
Puma Chooses Payrails to Enhance Online Payments in MENA
IBS Intelligence
"Payrails has partnered with PUMA to improve the brand’s online shopping experience for customers in MENA. The collaboration will mean MENA shoppers have a wider variety of payment options and receive a more seamless buying experience – no matter where they live or with what method they choose to pay."
September 6, 2024
On the web
West Africa Unifying Legal Framework for Financial Inclusion, Digital Economy
Biometric Update
"West Africa is at the precipice of a digital economy shift, with efforts spearheaded by governments and organizations across the region to create a unified legal and regulatory framework. These efforts are critical to advancing financial inclusion and supporting the transition to digital payments and a cashless economy, which promises to unlock enormous economic potential."
September 3, 2024
On the wires
Tarabut Acquires UK Payments Platform Vyne Ahead of New MENA Regulatory Requirements
Business Wire
"Tarabut, the first and largest regulated open banking platform in the MENA region, today announced the acquisition of London-based Vyne, a real-time account-to-account (A2A) payments platform for online businesses."
August 27, 2024
On the web
South African Banks to Cut Digital Payments to CMA Countries – Standard Bank
Payments Afrika
"South African banks, in the next month, will halt electronic fund transfer (EFT) services to Namibia, eSwatini, and Lesotho, restricting clients from transferring money to these Common Monetary Area (CMA) countries."
August 20, 2024
On the wires
Flutterwave Enables its Online Merchants in Nigeria to Accept American Express Payments
PR Newswire
"Flutterwave, Africa's leading payments technology company, announced that its online merchants in Nigeria can now accept American Express payments. American Express Card Members - with consumer, business, or corporate cards - will be able to make payments directly to e-commerce businesses using Flutterwave in Nigeria."
August 14, 2024
On the web
An Interoperable World: The Future of Africa’s Payments Ecosystem
Swift
"Africa's payments industry is booming. Electronic and instant payments systems are redefining day-to-day transactions in a continent where cash remains king, and where a youthful population is driving digitisation at a rapid rate. In fact, Africa currently accounts for 70% of the world’s $1 trillion mobile money value."
August 1, 2024
On the web
Skaleet and Smile ID Forge Strategic Alliance to Revolutionize Digital Banking Security and Inclusion in Africa
Kenyan Wall Street
"Skaleet and Smile ID have announced a strategic partnership to transform the digital banking landscape in Africa. Key benefits of the partnership include streamlined customer onboarding, enhanced fraud prevention, improved operational efficiency, and the ability to scale digital banking operations while maintaining high security and user experience standards."
July 23, 2024
On the wires
XTransfer and EBANX Partner to Facilitate B2B Trade Payments in Latin America
PR News Wire
"XTransfer, China's top B2B cross-border trade payment platform, and EBANX, the leading payment platform connecting global companies with customers in Latin America, Africa, and Asia, announced a strategic partnership aimed at streamlining B2B trade payments in Latin America."
July 8, 2024
On the web
NPCI International Partners With Network International to Enable UPI QR Payment Acceptance Across Its Merchants in the UAE
NPCI
"NPCI International Payments Limited in partnership with NetworkInternational has enabled the acceptance of QR code-based Unified Payments Interface (UPI) payments via Network’s point-of-sale (POS) terminals in the UAE."
July 3, 2024
On the web
dLocal and Wakanow Group Partnership Makes Travel Accessible for Millions Across Africa
dLocal
"dLocal has formed a strategic partnership with Wakanow Group, facilitated by Wakanow’s travel fintech subsidiary, Kalabash. This collaboration will allow Wakanow customers throughout Africa to pay in their local currencies or preferred payment methods."
July 2, 2024
On the web
VezoPay Launches Africa’s First Smart Ring for Seamless Contactless Payments
TechAfrica News
"VezoPay has introduced Africa’s inaugural smart ring, heralding a new era in contactless payment solutions across the continent."
June 13, 2024
On the web
Interswitch, ACI Foster Partnerships, Innovation to Transform Digital Payment
Business Post Nigeria
"Africa’s integrated payments and digital commerce company, Interswitch in partnership with ACI Worldwide have fostered their partnership to further develop the African payment ecosystem."
May 10, 2024
On the web
AfricaNenda Boosts Access To Affordable Payments In Africa
Africa
"2023 saw promising advancements in the availability of inclusive instant payments in Africa through six new or expanding public Instant and Inclusive Payment System (IIPS) initiatives."
May 7, 2024
On the wires
Emirates NBD and NIUM Join Forces to Transform Global Cross-Border Payments in the Middle East
PR Newswire
"Nium announced a partnership with Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, to empower customers with a cutting-edge global payments solution that will redefine the financial services landscape in the Middle East and beyond."
April 17, 2024
On the web
Mastercard and Onafriq Partner to Increase Accessibility to Financial Services Across Africa’s Payment Ecosystem
Onafriq
"Mastercard and Onafriq (previously MFS Africa), a pan-African payments company, have partnered to bring secure, cost-effective, and innovative payment options to consumers as well as small and medium enterprises (SME) across the continent."
April 2, 2024
Top Post
AfricaNenda and GIMAC Convened Workshop to Advance Financial Inclusion in Central Africa
AfricaNenda
"Building upon their commitment to driving financial inclusion and digital innovation across Central Africa, AfricaNenda and GIMAC (Groupement Interbancaire Monétique de l’Afrique Centrale) hosted a transformative workshop in March in Douala."
April 1, 2024
On the wires
ACI Worldwide and Arab Financial Services To Drive Payments Modernization for Banks and Merchants in the Middle East
Business Wire
"AFS, the leading digital payment solutions provider and fintech enabler in the Middle East and Africa, will utilize ACI Enterprise Payments Platform and ACI Payments Orchestration Platform to drive digital payments modernization in the region"
February 28, 2024
On the web
KCB and Mastercard Partner to Expand Payments in East Africa
IBS Intelligence
"Mastercard has announced its partnership with KCB Banking order to provide its customers across the East African region with optimised payment systems. The payment solutions will be rolled out in Kenya, Rwanda, Burundi, South Sudan, Tanzania, and Uganda."
February 22, 2024
On the web
South Africa Eyes Stablecoins and Blockchain for Digital Payments
Cointelegraph
"The annual budget of South Africa revealed its treasury’s plan to promote the adoption of digital payments, which includes analyzing stablecoins and blockchain to “improve the lives and livelihoods of marginalized groups.”"
January 17, 2024
On the web
Virtual Cards Gain Traction in South Africa
ITWeb
"Two of the big-four banks have recorded strong growth in the use of virtual cards, as more South African consumers shift to digitally-driven payment methods."
December 18, 2023
On the web
M-Pesa to Offer Tap-To-Pay Card Payments to Over 60 Million Customers
Techpoint Africa
"M-PESA, Safaricom’s mobile money platform, has built on its partnership with Visa to provide tap-to-pay card payments to customers."
November 30, 2023
On the web
Africa’s New Online Foreign Exchange System Will Enable Cross-Border Payments in Local Currencies
Yahoo News
"The high cost of making cross border payments on the African continent has driven governments on the continent to seek options of settling transactions in local currencies giving birth to the Pan-African Payment and Settlement Systems scheduled to go live in 2024."
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