Fintech Archives - Page 16 of 19

11May

By Africa BusinessNo Comments

Democratic Republic of the Congo, Fintech

Mastercard partners with Billetera to offer cutting-edge digital payment solutions in Democratic Republic of Congo

Millions of unbanked and financially excluded residents in DRC to gain access to formal financial and digital services Mastercard’s technology to enable development of diverse digital payment solutions Partnership is aligned with DRC’s National Digital Plan (NDP) Mastercard has partnered with Billetera - a digital payments technology company headquartered in Kenya - to provide millions of unbanked and financially excluded residents in the Democratic Republic of Congo (DRC), access to formal financial and digital services through a diverse range of digital payment solutions. The partnership aims to support the vision of the DRC Government, which under the leadership of President Felix Tshisekedi has an ambitious digitization program aligned with the country’s National Digital Pla...

28Apr

By Africa BusinessNo Comments

Business, Fintech, Kenya News, Nigeria News, Tech

Ajua Acquires WayaWaya

Leading Customer Experience Platform for Africa to Integrate Intelligent Messaging and Payments Platform Across its Product Suite Ajua, the integrated Customer Experience Management solution for businesses in Africa, has acquired WayaWaya, the Kenya-based Artificial Intelligence [AI] and Machine Learning [ML] known for its innovative Janja platform, that enables borderless banking and payments across apps and social media platforms, for an undisclosed sum. WayaWaya founder and lead Janja product builder, Teddy Ogallo, joins Ajua as VP of Product APIs and Integrations. The acquisition of WayaWaya allows Ajua to integrate Janja to automate much of the customer experience journey by integrating janja.me product into their product stack, closing the customer experience loop as the...

26Apr

By Africa BusinessNo Comments

Fintech, Startups

How to Calculate and Improve Customer Lifetime Value for Your Fintech App

Creating loyal customers that purchase your products and services for life is the dream. Increasing customer lifetime value creates stability for your business and allows you to innovate new products and services that keep finance customers returning to your brand again and again. To end the feast and famine cycle, companies need to increase customer lifetime value and keep customers engaged and nurtured. Fintech apps might be enjoying a boom right now, but it's establishing a high lifetime value that creates sustainable growth and business stability. Calculating CLV: A Refresher The traditional approach to calculating CLV looks at sales, transactions, and retention through the lens of profit margins. To find lifetime value, use this equation: Lifetime Value = Average Value of Sale × Numb...

23Apr

By Africa BusinessNo Comments

Business, Fintech

HSBC switches to Recycled Plastic Payment Cards

Transition will reduce CO2 emissions by 161 tonnes a year, and save 73 tonnes of plastic per year HSBC is announcing a new programme to introduce sustainable payment cards across all its global locations. By the end of 2026 it will eliminate single-use PVC plastic, in favour of recycled PVC plastic (rPVC). The programme - which includes HSBC’s debit, credit and commercial cards - is part of the bank’s strategy to reduce its carbon emissions and achieve net zero in its operations and supply chain by 2030 or sooner. Working with global cards manufacturer IDEMIA, the bank will introduce new cards gradually across its locations. Rollout started in Malaysia in January 2021 and will continue in Sri Lanka this month; followed by the UK this summer. It will then extend across further countries and...

Affordable digital banking to revolutionise price-sensitive East African payments market

21Apr

By Africa BusinessNo Comments

Fintech, Kenya News

Affordable digital banking to revolutionise price-sensitive East African payments market

In a region still dominated by cash and mobile money options, like M-Pesa, new collaborations between fintechs are looking to capture the price-sensitive market with innovative, open-loop digital payment solutions in East Africa. According to Mark Dankworth, President International, Ukheshe Technologies, the region is poised for a surge in digital banking growth, with the likes of MCQR and virtual cards likely to make the biggest impact. This follows the Kenyan retail-tech startup, Tanda, leveraging Ukheshe Technologies’ cutting-edge Eclipse API to increase their digital banking offering in Kenya and East Africa to include QR payments, digital wallets and the issuing of physical and virtual cards. The move will empower Tanda agents and merchants throughout East Africa to implement 100,000 ...

15Apr

By Africa BusinessNo Comments

Ethiopia News, Fintech, travel

Zemen Bank and Mastercard partner to launch Ethiopia’s first contactless Platinum Mastercard Prepaid Travel Card

Country’s first prepaid and contactless travel card will enable Ethiopians to travel with USD or EUR currencies Zemen Bank has announced a partnership with Mastercard that will see the introduction of the first ever Mastercard branded prepaid contactless travel card in Ethiopia. Zemen Mastercard prepaid travel cards will enable cardholders to use cards with either of the two major currencies, namely U.S. Dollars and Euros, based on their travel destination. The card is also the first contactless card issued in Ethiopia. Dereje Zebene, Chief Executive Officer of Zemen Bank, emphasized the benefits of the new card and acknowledged the decision of the central bank to allow banks to start issuing travel cards: “We are delighted to see this product address our customers’ needs for overseas t...

14Apr

By Africa BusinessNo Comments

Fintech

Coinbase IPO: Bitcoin investors must expect more government scrutiny of crypto

Bitcoin investors should be braced for – but not put off by – “much greater government scrutiny,” warns the boss of one of the world’s largest independent financial advisory and fintech organizations. The warning from Nigel Green, CEO and founder of deVere Group, comes on the day Coinbase, the biggest cryptocurrency platform in the U.S., prepares for its public debut. It launches its initial public offering (IPO) on the Nasdaq under the symbol COIN starting on Wednesday. On Tuesday on the deVere Crypto app, Bitcoin, the world’s largest cryptocurrency by market capitalization, hit all-time highs of $64,000. Mr Green says: “Coinbase’s direct listing is a truly momentous day for the cryptoverse. “Should it hit its private market valuation of $100 billion, it would immediately become one of th...

13Apr

By Africa BusinessNo Comments

Business, Fintech

Staying ahead of cybercrime is a business imperative

It is predicted that there will be 7,5 billion Internet users by 2030 and that more than 111 billion lines of new software code is produced each year. While the growth is exciting, these statistics also outline the number of vulnerabilities open to exploitation. Together with an estimated 96 zettabytes of digital content currently produced, this sheer volume will lead to increased cyber-attacks and security events, all of which will be virtually impossible for humans to contain. Ryan Mer, Managing Director, eftsure Africa, a Know Your Payee™ (KYP) platform provider, says that cyber security is almost always a people problem first: “While the amount of business transactions taking place online is constantly growing and working from home is now commonplace, business controls have not kep...

7Apr

By Prenisha GovenderNo Comments

Fintech, South Africa News

South Africa: The South African revenue service joins the global rise of crypto-wars

By Prenisha Govender, Associate and Keketso Kgomosotho, Candidate Attorney, Tax Practice, Baker McKenzie Johannesburg. The growing popularity of cryptocurrencies worldwide, which is increasingly leading to its stronger footing in international business, has awakened tax authorities everywhere to a possible new revenue stream from unreported gains. Over recent years, we've seen a marked increase in crackdowns on cryptocurrency traders - all the way from the Internal Revenue Service (IRS) in the United States (US) to Her Majesty's Revenue & Customs (HMRC) in the United Kingdom (UK), and now the South African Revenue Service (SARS). It was only a matter of time until SARS joined the party, given that in terms of both market value and volume, South Africa is reported to be one of the top t...

1Apr

By Africa BusinessNo Comments

Fintech

Airtel Africa’s Mobile Money Business Gains $100m Investment from Mastercard

Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces the signing of an agreement under which Mastercard, a leading innovator and global technology company in the payments industry, will invest $100m in Airtel Mobile Commerce BV (“AMC BV”), a wholly owned subsidiary of Airtel Africa plc (the “Transaction”). AMC BV is currently the holding company for several of Airtel Africa’s mobile money operations and is intended to own and operate the mobile money businesses across all of Airtel Africa’s fourteen operating countries. The Transaction values Airtel Africa’s mobile money business at $2.65bn on a cash and debt free basis. Mastercard will hold a minority stake in AMC BV upon completion of the Transac...