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 […]
Category Archives: Fintech
Fintech Africa
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 […]
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, […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
As the pandemic dispersed the workforce, necessitating more sophisticated means to connect, collaborate and communicate, digital transformation became a business imperative. Fikile Sibiya, CIO at fintech specialist e4, explains why a roadmap for the future is essential in this transformation, and elaborates on what it should entail. Organisations in diverse industries are transforming their business models by […]
The foreign currency market may be speculated on legally and profitably in South Africa via the use of forex trading. Predicting price changes in currency pairings may be lucrative for South African Forex traders. The volatility of the foreign exchange market enables certain traders to make huge gains, with some even making millions of dollars. […]
Airtel Money, the dedicated mobile money platform, is driving better efficiency for businesses to engage in seamless mobile money activity with its upgraded Airtel Africa Developer Portal. The portal, using several Open APIs and solutions, integrates remote payments with Airtel Money wallets, to provide greater ease of access for Airtel Money services across multiple business […]
One of the world’s fastest growing FinTechs having added 1.5 million customers in the last 6 months alone. Accelerating customer growth driven by strategic investment following landmark $125M Series B funding round in May 2021. Investment and innovation driving financial inclusion, set to unlock $5.4bn in annual savings for consumers and SMEs by 2025. Paysend, […]
A new book from Burnet Media, Cape Town will inspire and guide the next generation of African entrepreneurs. Failing To Win by Mike Quinn is the authentic story of a uniquely African startup at the forefront of the continent’s fintech revolution. Inspired to become the “M-Pesa of southern Africa” after Kenya’s pioneering mobile money innovation, […]
Global losses from payment fraud have tripled from US$9.84 billion in 2011 to US$32.39 billion in 2020, according to Deutsche Bank’s 2021 report on the future of payments. And financial professionals are saying COVID-19 hasn’t helped matters, with 65% believing that the global pandemic is to blame for some of the accelerated rate in fraud […]
By: Udette Kirsch – behavioural economist & strategic marketing specialist Cryptocurrencies refuse to play by the rules. People rely on experts for all sorts of advice, but when it comes to cryptocurrencies, they seek advice from peers and the internet. So, what causes this behaviour, and what are the implications? Hint: it’s rooted in behavioural psychology. Recent […]
By Andrea Tucker, Head of Research & Development and Strategic Projects at fintech specialist e4 In today’s digital world, where faxes have all but been replaced by email and landlines by smartphones, doesn’t it seem strange that we’re still signing contracts in person? That we’re driving hours to do so, creating mountains of paper trails, […]
Digital innovation has evolved payments solutions at breakneck speeds. Everything from contactless payments, QR codes and digital wallets … consumers today have so many new ways to pay. The big challenge, however, is to ensure that the millions of South Africans who still use cash are able to access these services. “Unfortunately, cash still dominates […]
The urban population in Africa has swelled from 15% of the total population in 1960, to over 40% in 2010 and is set to exceed 60% by 2050[ii]. It is anticipated that South Africa will follow suit. In fact, current projections indicate that an additional 19 to 24 million people will be added to the […]
“Africa’s new bank for startups and SMEs” to expand to South Africa & Kenya following funding Brass, a Nigerian digital bank delivering easy access to affordable premium banking services for small and medium-sized businesses (SMEs), has today secured $1.7mn in funding to address the heavily underserved banking needs of local entrepreneurs, traders and fast-growing businesses. […]
New technology often seems fantastic on paper yet has little impact in the life of the average person. A new tipping solution for fuel pump attendants, however, does both. When asked to fill up a fuel tank as motorists do in the movies, few South Africans would know what to do beyond pulling their tank […]