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Banking & Finance

MasterCard includes Africa in 40M merchant target by 2020

MasterCard set a goal to connect 40 million micro and small merchants to its electronic payments network within five years. This expands on the company’s Universal Financial Access 2020 commitment made last year. To date, financial inclusion has been predominantly centered on providing the underserved and the unbanked with tools and transaction accounts. This remains a […]

Brexit to plunge IT spend in some sectors, IDC

The recent referendum in the UK and the resulting vote to leave the European Union is creating a significant level of uncertainty across the globe. Based on previous high profile and often large impact events, clearly there is a tendency to curb or stop discretionary investments, including non-essential IT investments and projects, very quickly in […]

Banking malwares Tinba, Gamarue inside Nigeria, Kenya

Check Point Software Technologies published its latest Threat Index for May 2016, revealing that the number of active global malware families increased by 15% in May 2016. The May Threat Index presents a mixed view of Africa, with several countries making quite strong moves up and down the index – the higher their relative ranking […]

Government, telecom, finance, top cyber targets in East Africa

In East Africa, governments are the top target sector for cyberattacks, 33%. Telecommunications, 22% and financial services, 17% follow in close succession. Contrary to the perception that cyber breaches are a problem unique to the large multinational companies based in developed markets, East African organisations are fast becoming a target for attacks with local subsidiaries […]

40% EMEA banks indicate digital transformation front-office initiative

A survey released by SAP shows that just one in four banks, 24% in EMEA has created and executed a holistic end-to-end digital transformation strategy to engage customers. The study also showed that while 96% of the banks polled had completed some kind of digital transformation initiative DX, room for improvement remains. Conducted by IDC […]

Standard Chartered to roll out mobile banking across eight African countries

Standard Chartered Bank is bringing its newest mobile and online banking platform to 1 million clients across eight African markets, the most extensive digital rollout of its kind in Africa by an international bank. Supported by the Bank’s global technology, clients will enjoy a consistent online experience across laptops, tablets or mobile phones, and the […]

BPC Banking deploys national Ethiopian switch based on SmartVista

BPC Banking Technologies, a provider of payment solutions, announced the launch of the national payment system of Ethiopia, EthSwitch SC based on SmartVista. As of today for the first time, all 17 of the countries retail banks are connected together via the unified payment system. EthSwitch was formed by all the banks in Ethiopia, and […]

Mahindra Comviva extends mobile money solution from Africa to Iraq

AsiaHawala, powered by Mahindra Comviva’s mobiquity Money, is the first mobile commerce service launched in Iraq. In war torn Iraq, corruption in both private and public sector banks have combined with the prevailing rudimentary banking infrastructure to leave segments of the population without any access to any banking facilities. AsiaHawala fills this gap by leveraging […]

Carrefour integrates Safaricom M-Pesa into its payment system

Carrefour, the world’s second largest hypermarket chain, is the first retailer in Kenya to integrate Safaricom’s payments service, Lipa Na M-Pesa, as a payment channel in Kenya. With this development, customers shopping at Carrefour will be able to complete payments without having to show evidence of an M-Pesa message to retail staff, resulting in a […]

WorldRemit ties up with MTN Mobile Money in Cote D’Ivoire

Digital money transfer service WorldRemit, the UK’s fastest growing technology firm and MTN Cote D’Ivoire have launched instant international remittances to MTN Mobile Money wallets in Cote D’Ivoire. With the WorldRemit app, the Ivorian expatriate population can now send overseas money transfers to any MTN Mobile Money wallet in Cote D’Ivoire – with a few […]

Network International selects cryptogram to secure non-card transactions

Network International, a payment solutions provider across Africa and Middle East, and Oberthur Technologies, a global provider of embedded security software products and services, announced their partnership to offer banks in Africa and Middle East region, a dynamic cryptogram payment card to secure online transactions. The OT MOTION CODE solution provides an extra layer of […]

Select athletes at Rio Olympics to use Visa NFC ring for payments

Visa, the exclusive payment provider at the Olympic and Paralympic Games, introduced a new innovation for use at the Rio 2016 Games. It has launched the first payment wearable ring backed by a Visa account. The Visa payment ring will be given to all Team Visa athletes in Rio, a group of 45 Olympic hopefuls […]

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