Category Archives: Fintech

Fintech Africa

Crypto assets: Are you prepared for the taxman?

South African taxpayers must realize that the time to regularise their cryptocurrency assets with the South African Revenue Service (SARS) has come, says Diane Seccombe, National Head of Taxation at Mazars. “While tax compliance in the crypto space has been a murky area until now, SARS and the South African Reserve Bank (SARB) have followed […]

Cross-sector collaboration is turning unbanked into banked and can unlock financial inclusion in South Africa

By Nomvula Nyandeni, Business Development Lead at Pay@ Financial inclusion is a key enabler in reducing extreme poverty in Africa. It provides a step forward for consumers in underserved and unbanked markets across the continent, who previously had little or no access to useful, relevant, and affordable financial products that adequately meet their needs – these […]

Here’s why South African billers, retailers and banks should consider open finance solutions

By Clinton Leask, Head of Digital at Pay@ Open banking, a relatively new concept in the field of financial technologies, is fast becoming a major source of innovation that is poised to reshape the banking industry – globally and in Africa. Open Banking is a capability that provides third-party service providers access to consented consumer banking, transaction […]

5 Best Cryptocurrency to Buy in July 2022

A cryptocurrency is a digital currency secured with cryptography. It can be used to make payments and transfer funds. People are increasingly using cryptocurrencies to pay for goods and services, which is also an investment opportunity. Not all of the cryptocurrencies that have been created are worth investing in. Some investors will be looking to […]

Youth will drive the future of digital payment solutions in Africa

By Clinton Leask, Head of Digital at Pay@ With 70% of sub-Saharan Africa under the age of 301 and the youngest population in the world, Africa is home to one of the most ambitious, highly motivated and vibrant youth populations in the world. Millennials, the largest living generation of today, together with Gen Z, are set […]

Diverse payment channels are the foundation of enhanced intra-African trade

By Aart Jurriaanse, Business Development Executive at Pay@ Eighteen months since the commencement of the African Continental Free Trade Agreement (AfCFTA), and despite less than ideal circumstances due to the COVID-19 pandemic, 43 African states have ratified the agreement. What’s more, nearly 90 percent of negotiations on product-specific rules have been concluded, covering more than 70 […]

More Banking Executives View Fintechs as Partners in Economist Impact Report on Digital Competition in Global Finance Commissioned by WSO2

In a global survey of 300 C-suite banking industry executives, 54% say their financial institutions have faced greater competition over the past three years from digital alternatives while 47% of UK respondents found this to be the case. However, these executives also indicate that they are better positioned to compete. Notably, 85% of respondents reported […]

Tailored Payment Solutions Unlock Growth for Unserved Segments in South Africa

By Barry Williams, Sales & Marketing Head and Clinton Leask, Business Development Lead at Pay@ In 2017, only 35 percent of the African population had access to banking services and this figure was projected to increase to 48 percent in 2022.1 The South African National Payments System (NPS) is regarded as world-class,2 as the banked population rose from […]

Uganda-based fintech offering onboarding-as-a-service receives scale-up funding

Laboremus Uganda, the B2B fintech that enables onboarding at scale, has received a funding boost from DOB Equity and FCA Investments to grow the company’s fintech platform in Uganda and neighboring markets. Laboremus’ platform helps banks and fintechs verify their customers’ identities and onboard them as customers.  This alleviates one of the key bottlenecks in […]

Cryptocurrency scams are on the rise in SA: How crypto cons work and how to protect yourself

Carey van Vlaanderen - CEO - ESET Southern Africa

The digital gold rush is here. As more people attempt to make money from cryptocurrencies, criminals and con artists aren’t far behind. Make sure you know how to recognise the biggest schemes that want to part you from your digital coins says Carey van Vlaanderen, CEO of ESET South Africa. The world seems to have […]

Kippa launches new digital payments product for SMEs in Africa

 Kippa, the fast-growing fintech start-up offering digital business and financial management solutions for SMEs in Africa, today announces the launch of its second product, ‘Kippa Payments’, a digital payments solution enabling users to send and receive payments from customers and perform extended payments transactions automatically. Kippa Payments, which will be available to access within the […]

Payment Fraud: Steps to Take If Your Business Gets Scammed

Ryan Mer

Payment fraud is a nightmare scenario for any business. Irrespective of size, companies face substantial financial and reputational harm resulting from fraudulent activity. Depending on the severity of the crime and the losses incurred, the very survival of the business may be at stake. Ryan Mer, CEO at eftsure Africa,  a Know Your Payee™ (KYP) platform […]

The biggest fintech trends changing the face of payments in emerging markets

Mark Dankworth, President Business Development Africa at Ukheshe, shares his thoughts on how mobile money, cross-border payments and ‘buy now, pay later’ are transforming the financial sector, particularly in emerging markets, for the better. Last year saw an unprecedented rate of change in the financial sector, with huge growth in the use of digital financial […]

New wave of fraud targeting bank customers

Fraud continues to pose the risk of serious financial losses for banking customers.  All indicators are pointing towards the fact that there are new scams and an increasing number of the victims, warns Reana Steyn, the Ombudsman for Banking Services (OBS). The basic modus operandi of these scams is not new. However, over the years, […]

Ghana has the 9th highest rate for cryptocurrency ownership out of 27 countries

According to the latest Cryptocurrency Adoption Index, conducted by Finder.com, Ghana stands 9th among 26 other countries in terms of adopting cryptocurrency! The study was conducted among 27 countries, which says that Vietnam has the largest percentage of adults owning cryptocurrency – 29%. In the same list stands Ghana, with a percentage of 17% of […]

3 trends set to dominate African mobile apps in 2022

In 2021, the mobile industry in sub-saharan Africa continued to show incredible resilience against the impacts of Covid-19 and experienced high growth. Digital solutions have provided instrumental support for communities and businesses, boosting their transition into adopting a mobile-first approach to tackle most of the daily challenges across the continent, with fintech applications dominating this […]

Payment fraud – top five scams to look out for

The truth is, all businesses are at risk of being scammed at some point, and just one incident can cost a company millions of Rand. Ryan Mer, CEO, eftsure Africa, a Know Your Payee™ (KYP) platform provider, says that fraudsters are constantly finding new ways to exploit vulnerabilities and attack corporate payment systems and it’s […]

Financial Inclusion across Africa starts here

Africa’s first digital in-store lay-by app is aiming to create financial inclusion throughout the continent – starting in South Africa. Local fintech startup LayUp is taking the lay-by process into the 21st century – for merchants and consumers – with a mobile app and rollout of a terminal app via payment & merchant solutions provider […]

Chimera Investment LLC invests $50m in Airtel Africa’s mobile money business

Further to previous announcements, most recently on 16 November 2021, Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces the introduction of Chimera Investment LLC as an additional investor in Airtel Mobile Commerce BV (‘AMC BV’), through a $50m secondary purchase of shares from a […]

2021: The year of the online payment

As the world moved indoors two years ago, the online payment space flourished. These are the biggest developments in 2021, and a brief look ahead. This year, South Africans embraced e-commerce, mobile commerce and digital payments like never before – all four major banks have seen massive increases in these payment methods since the start of the […]

Should PayPal be concerned about your country’s central bank?

Most governments may have no option but to join the digital currency bandwagon. With the introduction of digital currencies from central banks, the world of money is poised to enter a new era. Is it going to be a paradise of financial inclusiveness or a dystopia of financial instability? What if the project turns out […]