A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.

Search Payments News

June 1, 2021

On the web

Are Mobile Wallets in East Africa the Way to a ‘Crypto’ Future?


“Eversend, a Ugandan-led, mobile-only financial service, is among a plethora of apps across Africa experiencing rapid growth. “We’re growing 30% in terms of gross revenue … moving about $5 million dollars every month,” says co-founder Ronald Kasendwa.  However, when it comes to funding for mobile finance, e-commerce and even cryptocurrency ventures, Uganda fintech startups lag behind those located in larger tech hubs in places such as Nigeria and Kenya.For Kenneth Ntende, co-founder of Ugandan startup DusuPay, the biggest hurdle is figuring out a way to move towards a borderless payment system. “Africa is too fragmented in the world of payments,” he says. Ntende knows first-hand the potential in East Africa but worries about the fintech bubble. “Everyone tries to capture the opportunity, but only the strongest … will survive,” he says.”

April 13, 2021

On the web

MFS Africa Leads $2.3M Seed Round in Ugandan Fintech Startup Numida


“Small businesses in Africa need digital banking services including plenty of credit. Although these businesses drive economic growth and contribute up to one-third of the continent’s GDP, they are often financially excluded from credit and other financial services due to their size and informality. One such company tackling this challenge in the eastern part of Africa is Ugandan fintech startup Numida . And today, the company is announcing the close of its $2.3 million seed round.”

January 12, 2021

On the web

October 12, 2020

On the web

Uganda’s Banks Have Been Plunged Into Chaos by a Mobile Money Fraud Hack

Quartz (paywall)

“A major hack that compromised Uganda’s mobile money network has plunged the country’s telecoms and banking sectors into crisis. The Oct. 3 hack was a result of a security breach on a consumer finance aggregator, Pegasus Technologies, which mainly affected bank to mobile wallet transfers, according to an Oct. 8 statement by MTN Uganda, the country’s largest mobile phone company. Kampala-based Pegasus Technologies  provides financial and billing solutions for various companies including all the affected entities.”

September 25, 2018

On the wires

August 10, 2018

On the web

Bank of Uganda, telecom operators ask govt to rescind mobile money tax


“The Bank of Uganda and mobile phone operators have asked the government to scrap mobile money tax, saying mobile money revenue has dipped by more than UGX 600 billion since the introduction of the tax, The Observer reported. This reduction, they say, has affected revenue collection from Mobile Money transactions. Bank of Uganda director of statistics Charles Abuka said that placing a charge on mobile money withdrawals would increase revenue but the tax is inefficient, uncertain and complex.”

Payments News

Give us your email address or link to our RSS feed and we’ll push the daily Payments News headlines to you.

Glenbrook Payments Boot camp®

Register for the next Glenbrook Payments Boot Camp®

An intensive and comprehensive overview of the payments industry.

Train your Team

Customized, private Payments Boot Camps tailored to meet your team’s unique needs.

OnDemand Modules

Recorded, one-hour videos covering a broad array of payments concepts.

Glenbrook Press

Comprehensive books that detail the systems and innovations shaping the payments industry.