Online Payments Archives - AfricaBusiness.com

Successful adoption of 3D Secure authentication continues to grow globally, according to study from Ravelin

1Feb

By Africa BusinessNo Comments

Fintech

Successful adoption of 3D Secure authentication continues to grow globally, according to study from Ravelin

The adoption of the latest version of 3D Secure authentication for online payments has significantly increased around the world, according to a new report by fraud prevention specialists Ravelin. The global average for transactions passing through the latest version (3DS2.2) has shot up to 17% from 1% in H2 2022. The frequency of version updates in 3DS2 is fast but so far the industry seems to be keeping pace. 2022 saw the final deprecation of the 3SD1 protocol. Ravelin’s Global Payment Regulation Report highlights generally positive authentication success rates especially compared historically to 3.1. UK and Ireland merchants, for instance, saw 81% authentication success on 3DS 2.1 and 82% success on 3DS 2.2. Globally, authentication rates are similarly strong. But significant numbers...

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 ...

9Dec

By Africa BusinessNo Comments

Fintech, South Africa News

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 pandemic. Absa, for one, says 66% of people now prefer electronic payments over cash. “This trend will only increase in the coming years with more convenient solutions that meet the customer on the platforms of their choice like WhatsApp for example,” says Andrew Springate, CEO of technology and financial gateway service provider PAYM8. To prepare for the increased volume, South Africa is busily setting up for success. Three development...

89% of GCC consumers will opt for digital banking services over visiting a physical branch post Covid-19

7Jul

By Africa BusinessNo Comments

Fintech

89% of GCC consumers will opt for digital banking services over visiting a physical branch post Covid-19

77% of respondents in the GCC access digital banking services at least once a week 44% are willing to switch to a different bank due to poor customer relations 31% perceive their bank’s current offering of access to online banking services as weak Consumer appetite for digital banking services continues to grow in the countries of the Gulf Cooperation Council (GCC), accelerated further by the COVID-19 pandemic, according to a new survey conducted by Backbase with YouGov. Eighty-nine percent of respondents to the survey said that they are now more likely to opt for digital banking services rather than make a physical visit to a bank branch, with consumers saying they prefer digital self-service banking solutions delivered with the same convenience as their ecommerce, entertainment, and...

28Apr

By Africa BusinessNo Comments

Business, Fintech, Kenya News, Nigeria News, Tech

Ajua Acquires WayaWaya

Leading Customer Experience Platform for Africa to Integrate Intelligent Messaging and Payments Platform Across its Product Suite Ajua, the integrated Customer Experience Management solution for businesses in Africa, has acquired WayaWaya, the Kenya-based Artificial Intelligence [AI] and Machine Learning [ML] known for its innovative Janja platform, that enables borderless banking and payments across apps and social media platforms, for an undisclosed sum. WayaWaya founder and lead Janja product builder, Teddy Ogallo, joins Ajua as VP of Product APIs and Integrations. The acquisition of WayaWaya allows Ajua to integrate Janja to automate much of the customer experience journey by integrating janja.me product into their product stack, closing the customer experience loop as the...