Is cash truly dead? With the rapid rise of fintech innovations and digital payment solutions, one might think so. Yet, despite the digital revolution sweeping across African societies, cash remains very much alive—and for millions, it is still the preferred way to transact. In the article, Cat Denoon-Stevens, Head of Product Incubation at Mukuru, discusses how cash remains an essential element of financial inclusion for millions. Fintechs must embrace this reality, offering flexible solutions that meet customers where they are—whether in the physical or digital realm.
Category Archives: Fintech
Fintech Africa
The piece, “The Rise of Fintech Innovation in SA: Going Beyond Payments to Transform Access and Opportunities for Startups,” discusses how fintech solutions have revolutionized how these businesses operate, providing access to affordable financial services, business management tools, and support.
This article offers valuable insights into the growing fintech ecosystem in South Africa and its potential to drive economic growth.
The financial service PSTNET issues Visa virtual cards without limits on top-ups, spending, or the number of cards.
Happy Pay raises $1.8 million pre-seed round and secures inaugural debt facility as it accelerates its mission of bringing the cost of consumer credit to zero for South Africans.
Nikki Kettles, Licences and Payments Regulation Executive at Mukuru, discusses how regulatory barriers often limit fintech innovation and hinder access to financial services for these communities. She highlights the importance of collaboration between fintechs and regulators in overcoming barriers to innovation and expanding access to financial services for underserved communities. Mukuru’s success in holding 49 licenses across 15 countries underscores its deep commitment to working closely with regulators while expanding financial access.
The end of the year is fast approaching, and with it, the festive season and general anticipation for that hard-earned vacation that many South Africans work so hard for during the year. While this is a time of good cheer and increased shopping activity to prepare for the December break, it is also a busy time for scammers who want to take advantage of this activity. Many South Africans have recently contacted a popular Johannesburg radio station reporting increased attempts at banking fraud, with scammers sometimes becoming increasingly aggressive and convincing.
Vinesh Kassen, Head of India Client Coverage at Absa CIB, explores how successful digitisation projects have revolutionised the way that India and Africa interact with financial services, and why leveraging both regions’ capabilities will help deepen ties.
In the fast-evolving landscape of financial services, distinguishing oneself requires more than just competitive solutions and services. To achieve success, it requires a deep understanding of your clients’ needs, an empathetic approach, and a commitment to their success. This approach underscores Absa Corporate and Investment Banking’s (CIB) latest campaign, which showcases not only that “Your story matters” but that Absa CIB is truly “Invested in your story.”
Quintin van der Linde & Don Lange from Ecentric Payment Systems explains why a shift to omnichannel payments in retail is key to drive efficiencies and enhance CX for the future.
Fintech, Malawi News, South Africa News
Fintech’s transformative potential: Empower customers through self-education
The most powerful thing a fintech can do is enable its customers to educate themselves. Mukuru, a leading next-generation financial services provider, started out as a remittance company but has evolved into a platform with a suite of different financial products and services. Mukuru CEO, Andy Jury, says that formalised financial education obviously plays a crucial role in a fintech’s business, but customers that trust and repeatedly use a new product or service, such as a digital store of money, go through a natural learning process and are then more comfortable being exposed to more sophisticated products.