Digital payment systems Archives

22Sep

By Africa BusinessNo Comments

South Africa News

South African Spending: How to keep the country saving

Did you know that the country’s national savings rate jumped from 14.2% in December 2020 to 18% in the first quarter of this year – the highest it has been since 2010 [i]? According to the South African Reserve Bank, this is a reflection of household spending patterns amid the uncertainty around the COVID-19 pandemic. Hennie Blignaut, Account Executive at Pay@ - a leading payment aggregator and provider of secure payment solutions - notes that this trend towards saving has also been echoed in debt repayments and insurance premium payment volumes, with the former spiking by 58% and the latter by 83% over the past 12 months. He unpacks some of the reasons behind these increases and shares how South Africans can keep saving: For many, pandemic-induced lockdowns led to salary reductions at ...

Fintech Startup SOL announces rebrand with exciting new virtual card offering

SOL unveils virtual card and new brand as it redefines the customer experience SOLmate, an online payment platform that offers clients a digital wallet facility, has unveiled an exciting new product offering together with an extensive rebrand and renewed corporate vision. Following a name change to SOLmate, the fintech has launched a new, innovative virtual card – placing unbanked and underbanked clients at the centre of SOLmate’s business offering. The new virtual card provides clients with the ability to shop online safely, and to draw cash from various retail stores – making SOLmate one of the first fintech players to offer a virtual card to FICA lite customers who would otherwise not have had access to digital financial services. With a new tagline of “Your money. Your life. Your ...

Telephonic payment solution helps companies deal with Covid-19 challenges

VerPay enables verbal commerce as businesses adapt to serve their customers in contactless ways The novel Coronavirus has necessitated the need for a sharp step change across nearly every facet of daily life; which has, in turn, rendered the payments landscape ripe for innovation. “The pandemic has forced us all to do business in new ways, and not all companies have the means - or inclination - to go completely online", says Dana Buys, CEO of VerPay Pty Ltd, a Cape fintech company that specialises in cloud-based payment, "Many consumers still prefer dealing with a person, as opposed to solely an app or website.” VerPay™, allows merchants to do business whilst speaking to a customer, making it ideal for the hospitality, ret...