Fintech Archives - Page 9 of 19 - AfricaBusiness.com

27Oct

By Africa BusinessNo Comments

Fintech, South Africa News

Capital Appreciation Group and LayUp partnership Triumphs at the 11th Annual MTN Business App of the Year Awards

The mobile application for Africa’s first digital lay-by and recurring payments provider, LayUp, has won ‘Best Incubated Solution’ at the 11th annual MTN Business App of the Year Awards, which honours the work of the best of the best coders, tech enthusiasts, students, start-ups and lesser-known app developers in South Africa. The application was developed by the Capital Appreciation Group’s development team, for LayUp. LayUp is Africa's first fully digital lay-by and recurring payments business, certified through the Payments Association South Africa (PASA). LayUp’s omnichannel digitised payment plan solution enables retailers with smart technology that increases sales and grows their market whilst simultaneously providing improved access for consumers. “We’re delighted to see our deve...

Ukheshe and Gratifii partnership marries payments and rewards solutions for powerful embedded finance

24Oct

By Africa BusinessNo Comments

Fintech

Ukheshe and Gratifii partnership marries payments and rewards solutions for powerful embedded finance

Fintech enablement partner Ukheshe continues to execute on its ongoing partnership agreement with enterprise loyalty and rewards company Gratifii. The agreement gives both organisations and their clients access to industry-leading payments solutions as well as a loyalty rewards platform, explains Pieter de Wet, President of Business Development International at Ukheshe. “Integrating Gratifii’s Mosaic loyalty platform into our Eclipse payment orchestration platform has given our existing and future customers added value, by allowing them to offer their own customers a loyalty programme. This programme can be added seamlessly to card payments – with no additional cards required, and no additional steps.” Partnerships like this have the potential to be game-changing, says Mark Schoombie, Gr...

To build trust, payment providers need to ensure they are compliant and follow standards

12Oct

By Africa BusinessNo Comments

Fintech, South Africa News

To build trust, payment providers need to ensure they are compliant and follow standards

By Thabiso Serake: Information Security Officer at Pay@ October is Cyber Security Awareness month and is observed globally to help individuals protect themselves online as threats to technology and confidential data become more common. Former South African finance minister Tito Mboweni recently made headlines when his bank account was hacked, and a large sum of money was stolen1 from him. Earlier this year, pharmacy retail giant Dis-Chem fell victim to a cyber-attack, resulting in data of over 3.6 million South Africans being compromised2. This goes to show that South Africans need to be more vigilant when protecting their data on the internet and organisations must take into consideration all types of security measures to keep everyone protected. Cyber-attacks on organisations such as ...

12Oct

By Africa BusinessNo Comments

Fintech, South Africa News, Tech

The short answer to long passwords

Our digital world has become increasingly risky where hackers access personal data and steal identities with little effort. It’s said that nearly half of all South African consumers have either been a victim of ID theft, or know someone who has, costing in the region of R1 billion a year to the economy. Identity theft is big business – where a fake ID can cost just R3000 on the dark web or in the dark alleys of the city. But are longer, more complicated passwords and security measures the answer for South Africans? A recent Google survey revealed that more than half of the respondents admitted to reusing the same password for multiple accounts. Around 80% of hacking breaches can be attributed to reused or stolen credentials. Pan-African fintech innovator, iiDENTIFii, however, has develop...

How To Pay with Crypto Using a Cryptocurrency Exchange?

5Oct

By Africa BusinessNo Comments

Fintech

How To Pay with Crypto Using a Cryptocurrency Exchange?

By Kirik.pro Cryptocurrencies are digital money with the same application scope as conventional currencies, with the addition of a few interesting use cases such as in-game tokens, metaverse crypto, DeFi crypto, NFT marketplaces, etc. Trading and investing are the most common ways to use digital coins. Besides, the application of cryptocurrencies in the real world is also increasing. Here is what you can buy with crypto in the real world: luxury items such as yachts; real estate - apartments, houses, etc.; book accommodation in hotels; pay for travel tours; fill the car and pay with crypto; even order pizza or coffee. The number of businesses accepting settlements in crypto is expanding. Let’s see how it actually works when you need to pay for service with crypto....

A Payment Solution for Africa That Bypasses Complexity

22Sep

By Africa BusinessNo Comments

Fintech, South Africa News

A Payment Solution for Africa That Bypasses Complexity

Understandably, merchants are finding it increasingly difficult to keep abreast of all the latest payment products and solutions that are available. “It is complex and costly for merchants to manage their own integrations into multiple solution providers. Merchants should be focusing on their core businesses and leave payment complexities to specialist companies,” says Andrew Springate, CEO of tech and financial gateway service provider PAYM8. Founded in 2001, PAYM8 quickly expanded its footprint across the African continent and now processes over R3 billion in annual transaction value for its clients, and is one of the few payment solution providers in Africa capable of providing a single offering to merchants spanning both payer and payee-initiated payments. Merchants want all payments...

African fintech platform M-Kopa has provided digital credits worth more than $ 600 million to underbanked customers

13Sep

By Africa BusinessNo Comments

Fintech

African fintech platform M-Kopa has provided digital credits worth more than $ 600 million to underbanked customers

M-KOPA announced the release of its 2021 Impact Report. As a mission-driven company, M-KOPA's tremendous growth is rooted in commitment to both commercial and social goals. The report presents findings on M-KOPA’s smartphone, solar and cash loan customers across Kenya, Uganda, Nigeria and Ghana. While much of the impact has been realised in East Africa, M-KOPA recorded rapid growth following its expansion into West Africa over 2020/21. Key highlights of M-KOPA’s social and environmental impact at the end of 2021 include: $600 million of credit unlocked for customers; 4.5 million lives improved with life-changing products; Over 1 million solar home systems sold, avoiding 2 million tonnes of CO2 emissions; Over 1 million individuals accessing high-quality smart...

Big Fintech Company “Opportunities” for Small Businesses or Mousetrap for Your Money

2Sep

By Africa BusinessNo Comments

Fintech

Big Fintech Company “Opportunities” for Small Businesses or Mousetrap for Your Money

This small post contains unpleasant moments from Fintech companies that small companies or entrepreneurs face. Best Online money transfer, Best Digital payment services... = High Fees, Big Saving on Customer Support, ..... But Virtual Selling Assistant without Real Support. A characteristic feature of such companies is primarily enriching only shareholders and strategy without developing customer relations. Read Twitter of such companies and their leaders. You will see a lot of pleasant tweets to their investors and one tweet with thanks to customers. Only money. Therefore, automation in many cases, in order to reduce staff and does not pay attention to individual customer requests. But they will not miss automatic profits. Because soon robots will become cheaper than the price of human ...

Crypto assets: Are you prepared for the taxman?

1Sep

By Africa BusinessNo Comments

Fintech, South Africa News

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 other international jurisdictions in developing stringent regulatory frameworks for this burgeoning segment of the market, with much focus on transparency,” Seccombe says. Now, there is no longer any doubt that taxpayers are required to disclose their crypto assets – including purchases, current holdings, and disposals – as part of their statements of assets and liabilities. From a tax perspective, cryptocurrencies are not regarded as currencies, but...

17Aug

By Nomvula NyandeniNo Comments

Fintech, South Africa News

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 include transactions, payment solutions, savings and credit facilities, and insurance. This remains a priority in South Africa, where an estimated 23.5%1 of the population remains excluded from the banking system, with large groups of society unable to utilise financial services due to issues surrounding accessibility2. As such, South Africans are still choosing to make use of cash for the majority of purchases. This is despite t...