Fintech Archives - Page 2 of 19 - AfricaBusiness.com

11Aug

By Africa BusinessNo Comments

Business, Fintech, Kenya News

From vision to reality: How Absa CIB’s new TVC champions human centred relationships

Authors: Clement Motale, CM(SA) Managing Executive: Marketing and Communications, Absa CIB and James Agin, Managing Executive: Corporate and Investment Banking, Absa Kenya 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." At Absa CIB, being “Invested in your story” encapsulates more than a slogan; it embodies the philosophy of deep, human-centred partnerships – how we...

Shift to omnichannel payments in retail to drive efficiencies and enhance CX

19Jul

By Africa BusinessNo Comments

Fintech

Shift to omnichannel payments in retail to drive efficiencies and enhance CX

By Quintin van der Linde, Head of Business Development & Don Lange, Partner Manager at Ecentric Payment Systems Even as more retailers turn to setting up online storefronts to extend their presence and cater to shoppers looking for convenience, the majority of South Africans still prefer to shop at physical stores, and retailers are looking for a solution that gives them a better way of managing transactions and reconciliation. Enter omnichannel payments - a solution that can provide merchants with a single view of all transactions, while also enhancing the shopping experience for customers. The current reality is that while shoppers are offered the convenience of paying for their purchases online, in-store, on different devices and different platforms, they face an inconsistent expe...

Fintech’s transformative potential: Empower customers through self-education

9Jul

By Africa BusinessNo Comments

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, says Mukuru CEO, Andy Jury. He says 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. Mukuru, which is a next-generation financial services provider, started out as a remittance company and has evolved into a platform with a suite of different financial products and services. Jury says that by empowering its customers to teach themselves, Mukuru has enabled many thousands of unbanked and underserved people to access products and services from which th...

8Jul

By Africa BusinessNo Comments

Fintech, Kenya News

Xprizo enhances fintech platform with iOS launch

Xprizo, a cutting-edge iGaming fintech platform, has amplified its global reach with the launch of its iOS app. This marks a significant milestone in the company’s growth and development as a fintech platform serving the underbanked and unbanked demographics. With the introduction of the iOS app, Xprizo’s network of users across all device types can now enjoy the full potential of the platform. Until now, the app was only accessible on Android devices. The Xprizo web app remains available for PC users and will continue to provide its comprehensive services. The new iOS app includes a brand-new sleek, and modern UI that allows frictionless access to the rich array of fintech functions. Now included within both Apple and Android apps are debit and credit card deposits in all available curr...

2Jul

By Africa BusinessNo Comments

Fintech

Under Attack: Online Sellers Face Mounting Threat from Payment Scams

Expert reveals steps to avoid payment scams in 2024 and the top five most common The top five most common types of payment scams are phishing scams, chargeback fraud, return fraud, merchant fraud, and wire transfer fraud In 2023, US businesses saw a 71% increase in payment fraud attempts, highlighting the growing threat posed by scammers When it comes to online shopping, it’s not just customers who can fall victim to scams. Many scams target businesses and sellers, making it essential for anyone selling goods online to understand how to avoid these pitfalls and what steps to take if their business is affected. Business Wire reported a 71% surge in payment fraud attempts on US businesses in 2023, underscoring the critical need for online sellers to stay vigilant ...

11Jun

By Africa BusinessNo Comments

Fintech

Investment bank predicts Africa’s remittance market will reach $500bn by 2025

Increased competition, stakeholder collaboration and investment in financial infrastructure can all contribute to lower global remittance fees, says Risana Zitha, Managing Director and Head of Africa at DAI Magister Remittances comprise a significant portion of African Gross Domestic Product (GDP), with the total value of remittances across the continent reaching nearly $100 billion in 2022 − $20 billion of which was intra-African flows. Despite the importance of remittances to the African economy, the cost of sending money to the continent remains very high. The UN Sustainable Development Goals state that remittance fees should be less than 3% by 2030, but data from the World Bank suggests that at present the global average is twice this target, with the figure as high as 20% in some pa...

16May

By Africa BusinessNo Comments

Fintech

Experts reveal how businesses and sellers can spot online payment scams

When it comes to online shopping, customers aren’t the only ones who can fall victim to scams. Many scams target businesses and sellers instead, therefore anyone selling goods online must know how to avoid being impacted and what to do if their business is affected. In fact, according to Business Wire, there was a 71% increase in payment fraud attempts on US businesses in 2023 – a statistic that highlights how important it is for online sellers to remain wary of practices that could undermine their services and cause financial damage. With that in mind, Dennis Pederson, CEO of PayFasto, has compiled a list of five common payment scams that online sellers should be aware of and how to respond in the unlucky event of experiencing them. Phishing scams Phish...

17Apr

By Africa BusinessNo Comments

Fintech

Why do you need a crypto license in Poland? What is needed to obtain such a license?

What Are the Legal Requirements for Operating a Cryptocurrency Business in Poland, And Why Is a Crypto License Essential for Compliance? In Poland, the Chamber of Tax Administration regulates the regulations that any crypto businesses must follow. Companies in Poland are required by law to register with the Polish company registry via the portal for public administration services or other means. You need to fulfill the eligibility requirements and submit the required documentation within 14 business days to complete the registration procedure. There is a potential punishment of roughly €22,000 for not obtaining the license by still carrying out crypto activities. Registration is required for crypto-to-fiat and crypto-to-crypto exchanges, wallet services, brokerage services, among many ot...

Africa Fintech Summit Rolls Out Nigeria Fintech Marketing Outlook 2024, Featuring Trends, Perspectives, Growth Strategies, and More

21Mar

By Africa BusinessNo Comments

Fintech, Nigeria News

Africa Fintech Summit Rolls Out Nigeria Fintech Marketing Outlook 2024, Featuring Trends, Perspectives, Growth Strategies, and More

The Africa Fintech Summit (AFTS) releases its insightful "Nigeria Fintech Marketing Outlook 2024" report, shedding light on the current state and future direction of marketing strategies within the nation's booming fintech industry. This first-of-its-kind report, co-authored by Charles Anijekwu and Jeremiah Ajayi, equips Nigerian fintechs with the data-driven strategies they need to acquire new customers, retain existing ones, and achieve long-term growth. Key findings include: Paid advertising reigns supreme: The report reveals that paid advertising was the dominant channel for customer acquisition across key Nigerian fintech verticals in 2023. High acquisition costs: Sectors like Merchant Payments, Point-of-Sale (POS), Investment & Wealth Management, and Digital Lending w...

How will Digital Transformation evolve the Blockchain Practices in African Countries?

17Mar

By Africa BusinessNo Comments

Fintech

How will Digital Transformation evolve the Blockchain Practices in African Countries?

By HariKrishna Kundariya The use of blockchain practices has been rising in every industry. Today, every single industry is making the most out of it and making things easier for their audience to deal with it. If you are thinking how blockchain practices is going to get better with digital transformation, then you have landed on the right page. Africa is at the cusp of a digital transformation revolution. Not only this, in this part of the world, blockchain is poised to catalyse unprecedented growth across different industries. With a median age of 19 years and rapid technology adoption, the continent is well-positioned to leapfrog legacy systems with decentralized solutions. Here in this post, we are going to examine and discuss the key sectors in African countries that may evolve t...