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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.
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September 30, 2020
On the web
South African Banks Prepare to Phase out Paper Cheques
Finextra
“The humble paper cheque may be on the verge of extinction in South Africa, as banks begin moves to phase out the age-old method of exchange in favour of cards and digital payment mechanisms. Major banks Nedbank, FNB and Absa have already announced plans to discontinue the use of outdated cheque payments beginning in January of next year.”
June 30, 2020
On the web
South Africa’s MTN Allows Customers to Pay for Online Shopping Using Mobile Money
Reuters
“South Africa’s MTN is branching into the online shopping space by providing its customers with the option to pay for online purchases using mobile money payment instead of a bank card. The spread of COVID-19 has accelerated the adoption of mobile financial services, which are increasingly being recognised as a means to mitigate the use of bank notes and coins amid the pandemic. With demand for e-commerce growing rapidly in South Africa, MTN will launch mobile money (MoMo) Pay for online shopping this week, it said in a statement on Monday.”
May 29, 2020
On the wires
South Africa’s Mama Money Expands Global Reach With Western Union – Customers Can Now Send International Money Transfers To 200 Countries And Territories Via The Mama Money Mobile App
“Western Union, a leader in cross-border, cross-currency money movement and payments, and Mama Money, a rapidly growing international money transfer company, have joined forces to enable Mama Money customers to send money to their loved ones around the world via Western Union’s Global Network. This collaboration will gear Mama Money’s more than 500,000 customers in South Africa to send money from their smartphones for payout into billions of bank accounts in over 100 countries around the world or in cash at Western Union Agent locations across more than 200 countries and territories.”
October 3, 2018
On the wires
Mastercard and EasyPay take the friction out of bill payments
“South Africans can now buy prepaid utility services or pay their accounts from approximately 600 bill issuers with the new EasyPay Mobile app using Masterpass, the global digital payment service from Mastercard. Announced today at the Mastercard Connecting Tomorrow Forum in Barcelona, this collaboration marks a significant milestone in Mastercard’s strategy to displace cash and reduce friction in consumer payments.”
August 2, 2018
On the web
Wirecard’s Digital Payment Product Launches In South Africa
Cards International
“Wirecard is now in South Africa after its digital payment product, SecureEFT, was introduced. Thanks to the payment service from Wirecard South Africa consumers will be able to make online payments directly into a bank account. Besides facilitating transactions, the service is said to provide real-time notifications to customers during payments.”
August 1, 2018
On the wires
Mastercard And Entersekt Enable All-In-One, Scan-To-Pay Feature In Nedbank App
Mastercard
“Mastercard and Entersekt have collaborated to enable Nedbank’s customers to make QR payments to Masterpass, Pay@, SnapScan, and Zapper merchants and billers through the Nedbank Money app, whether they are paying online or at a physical point of presence. This market-first development means that Nedbank Money users need just one smartphone app for all major domestic scan-to-pay services, representing a combined footprint of more than 100,000 retail points of presence and 800 billers.”
May 8, 2018
On the web
Biometric ATMs extend banking services
IT Online
“FNB has launched a mini-ATM that uses biometrics as a means of consumer validation, a move the bank believes is a first for South Africa. The TouchPoint device functions as a self-service kiosk from which customers can conduct transactional banking such as withdrawals, transfers and payments, view statements, purchase airtime and electricity and perform card cancellations. It can also be usesd to open new accounts.”
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