Mobile payments in August posted the largest month-on-month drop this year, coming after intensive political campaigns in July.
Despite Nigeria’s retail sector being dominated by independent formats like Open Markets and Kiosks in terms of absolute store numbers, modern trade formats like Supermarkets and Hypermarkets are stepping up to fulfil the needs of consumers.
Vivo Energy Ghana, the exclusive licensee of Shell branded products has launched onto the Ghanaian market, a new App for motorists with extensive features in the oil marketing industry.
World’s international express services provider DHL Express has announced its partnership with MallforAfrica, the global e-commerce company, which will facilitate selling of made-in-Africa products to customers in the United States.
Statesduka.com is the first budget online shopping and shipping website serving Kenya, Tanzania, Uganda, Rwanda, Burundi and South Sudan.
Jumia has introduced Jumia Bot, Nigeria’s first e-commerce Bot. Using Jumia Bot, shoppers can order food, find fashion or electronic items and book hotels and flights by simply having an online conversation with the bot.
More than half the money sent through mobile phones between April and June this year went to paying for goods and services, fresh official data have shown.
Uber and Visa have announced a strategic agreement that aims to grow digital commerce across Africa. Under the agreement, Visa will work with its financial institution partners to set up their debit and credit portfolios for eCommerce.
Ecobank has partnered with Visa to launch Ecobank Scan+Pay with mVisa solutions to their consumers.
The number of credit cards of banks operating in the Egyptian market increased to about 5.858 million cards by the end of June 2017 compared to 3.859 million cards in December 2016.
Silicon Valley tech entrepreneur, Paul Owusu, moved to Ghana and partnered with tech entrepreneur Kojo Sarpong to form Logique, tech accelerator and parent company to tech products Stack, SmartLobby and Coast.
Wafacash and WorldRemit expand partnership to offer instant money transfers across West and Central Africa
Morocco-based financial services company Wafacash is scaling up operations with leading digital money transfer service WorldRemit to offer instant money transfers across West and Central Africa.
RedCloud partners with KongaPay to give 190 million Nigerians access to distributed banking services
RedCloud Technologies, the world's first open banking platform has partnered with Nigeria's KongaPay; the payment system which aims to facilitate the initiation and completion of transactions in a seamless manner.
Oracle NetSuite, a provider of cloud-based financials / ERP, HR, Professional Services Automation (PSA) and omnichannel commerce software suites has expanded business operations in South Africa.
QNET, a company of Asian heritage and a part of the $200 billion global direct selling industry has entered the buoyant direct selling sector in Eastern Africa.
As more financial service providers adopt machine-to-machine (M2M) solutions, it is becoming ever more apparent that these solutions are vital to economic inclusivity and innovation on the African continent.
Allied Exchange Africa has launched its novel digital payment platform, ALEXpay to overcome the lack of cross-network fund transfer and interoperability which currently inhibits the potential of mobile money services in Ghana.
Branch, a Facebook-linked mobile phone lending app, has raised Sh200 million by issuing a commercial paper. The Silicon Valley startup will use the funds to grow its loan book.
Moneytrans, a fintech company serving migrants has launched a smart and convenient mobile application that can send money in minutes, in and out of Africa, to one of its 250,000 points.
TerraPay secures regulatory approval from South African Reserve Bank to launch cross border money transfers
TerraPay, the world's first mobile payments switch, announced today that it has successfully obtained regulatory approval from South African Reserve Bank to launch cross-border money transfer services in South Africa.
Tourists in South Africa will have more opportunities to pay via smartphone as Alipay, online and mobile payment platform operated by Ant Financial Services Group, partners with Zapper.
BitPesa, the first and largest blockchain payments platform for Africa, with offices in Nairobi, Lagos, and London, has announced Greycroft as its lead investor in a follow-up to its Series A funding round.
Transnet National Ports Authority’s new, fully integrated ecommerce platform has gone live
South Africa's top online portal Snupit has launched its mobile app. Used by over 2 million people every month, Snupit connects users to 350,000 local pros and businesses
Paul Langlois-Meurinne is the co-founder and CEO of Optimetriks, a company that has developed an innovative data collection crowdsourcing platform to help Fast Moving Consumer Good companies and institutions monitor their distribution in Africa at outlet levels.
TerraPay and Instant Cash have partnered to enable real-time cross border money transfers to mobile wallets, making possible cross-border money transfer to all major mobile wallets in Tanzania, Uganda and all mobile numbers in Nigeria.
United Bank for Africa Zambia (UBA) has launched the first Mastercard debit card in Zambia to financially empower its citizens.
eBay Inc.,a global commerce leader, and Mall for Africa, Africa’s global e-commerce and m-commerce platform, have announced a strategic partnership that further boosts the sale of handmade African products into the United States.
With aspirations of becoming an African economic powerhouse, Ghana is partnering with organisations such as Mastercard to smartly integrate technology into all aspects of the economy – building for the future, a cashless Ghana.
On the basis of its high business environment opportunity potential, Nigeria is in pole position to take advantage of the Africa region’s e-commerce potential projected to reach $50 – $75 billion within the next 5-10 years.
Youtap, a global provider of contactless mobile payments and financial services software, has launched a QR code solution and smartphone apps for mobile money services in Africa and Asia.
Direct Pay Online Group (DPO) has announced the acquisition of Virtual Card Services (VCS) South Africa.
Axel Peyriere is co-founder of the number one car classifieds websites in Africa, the AfricarGroup, which covers 22 countries and translated into 10 local dialects of the continent. His interview with Africa Business Communities:
The Ghana Interbank Payment and Settlement Systems (GhIPSS) has disclosed to Citi Business News it has advanced processes of meeting the November deadline for mobile money interoperability.
Digital money transfer service WorldRemit and the National Bank of Kenya have launched a major partnership to enable Kenyans living abroad to make instant transfers home.
TerraPay, the world's first mobile payments switch has successfully obtained an approval from Bank of Uganda to facilitate International money transfers to mobile wallets in the country.
Innovation in sophisticated South African fintech payments landscape - Dominique Collett, head of AlphaCode
In 2016 $5.5bn of venture capital investment went into payments startups. This represented 22% of global fintech investment activity. In South Africa, payments still dominate the fintech landscape.
The Commonwealth is helping Cameroon explore ways to increase the benefits of e-commerce and digital trade as a tool for achieving its national development plan.
Mobile-based lender Branch has disbursed a cumulative Sh3.63 billion ($35 million) loans in Kenya where virtual lending is growing in popularity.
Belfrics Global, a Malaysia based bitcoin technology provider has launched its Bitcoin Exchange in Kenya to allow traders and Bitcoin users to trade at a much lower cost.
Since repatriating to Ghana, Silicon Valley tech entrepreneur, Paul Owusu partnered with tech entrepreneur Kojo Sarpong to form LOGIQUE, tech accelerator and parent company to tech products Stack, SmartLobby and Coast.
Senegalese based digital solutions company Wari has joined the US‑Africa Business Center initiated by the US Chamber Of Commerce. Wari's CEO and founder, Kabirou Mbodje, will also sit on the Center's Board of Directors.
United Bank for Africa (UBA) has announced the rollout of two Mastercard electronic payment solutions in order to deliver cashless solutions to all Kenyan’s.
Total and Worldline partner with African Fintech InTouch to support deployment of Guichet Unique solutions in eight African countries
Total and Worldline have signed binding technological, commercial and financing agreements with African fintech InTouch.
United Bank for Africa (UBA) has announced the rollout of the Debit Mastercard card in Gabon to financially support its citizens.
[Kenya] M-Shule receives cash investment from Engineers without Borders Canada to scale education by SMS
Engineers Without Borders Canada has announced its investment in M-Shule, a Kenyan-based EdTech company using SMS to deploy tailored education content for children in Sub-Saharan Africa.
Lola Ekugo runs an online business that connects travelers and people in Nigeria who want to buy items abroad or transport documents from abroad.
United Bank for Africa (UBA) has announced the rollout of the Debit Mastercard card in Uganda to financially support its citizens.
Small is beautiful, small is powerful”. This is the creed embedded in the foundation of a global e-commerce giant: Alibaba.
Josh Okpata has built a unique business in Nigeria and Kenya, the first of its kind in Africa that allows peer to peer leasing for businesses and individuals.
Sub-Saharan Africa accounts for more than half of all mobile money deployments worldwide and is pioneering a range of new mobile money use cases, according to new GSMA data.
Xpress Money and TerraPay partner to enable real time international money transfers to mobile wallets in Africa
Xpress Money, one of the world's most dependable money transfer brands has partnered with TerraPay, the world's first mobile payments switch, to enable real-time international money transfers to mobile wallets in Africa.
Huawei partners with WorldRemit to accelerate growth of low cost mobile-to-mobile money transfers to Africa
Leading digital money transfer service WorldRemit and Huawei have announced a partnership making WorldRemit’s international money transfer service available to all partners of Huawei’s mobile money service platform across Africa.
Telecoms operator Safaricom’s mobile money agents will soon start using photos to identify those withdrawing or depositing money on the popular M-Pesa platform in a new push to curb fraud.
Zapper has partnered with Alipay, a mobile and online payments platform to give active Alipay users from around the world who visit South Africa the opportunity to pay at more Zapper-affiliated merchants with Alipay.
Visa and Direct Pay Online Group have announced that they are enabling 20,000 more merchants to accept mVisa payments, facilitating mobile commerce in Kenya.
Diamond Trust Bank Kenya (DTB) and Mastercard have announced their partnership to roll-out the DTB Masterpass QR app in Kenya, a mobile payment solution that will enable millions of businesses to accept fast and secure digital payments from consumers.
A high demand for South African products by people in his native country of DR Congo on perceived quality, was the spark that inspired Mike Bondo to start an online shop dubbed McShop connecting buyers to local and international brands
The South African financial technology company that brought card-payment systems to smaller businesses in 2008 has just announced a new integrated payment solution that will benefit franchise store owners and larger independent retailers.
Business1.com is the base of the international business-to-business 1.com-websites. Africa Business Communities is meeting with founder Marc Gellings.
Sage, the market and technology leader for integrated accounting, payroll & HR and payment systems, has announced that Sage One Payroll and Sage One Invoicing is available in Nigeria.
Increased use of plastic money in transacting propelled the value of transactions through point of sale terminals beyond $1 billion in the four months to April 2017.
Youtap, a global provider of contactless mobile payments and financial services software, is offering its new X8 'micro' point of sale device as a packaged solution for mobile money and payment service providers.
Safaricom has partnered with mSurvey to launch Consumer Wallet, a versatile mobile platform that quantifies offline consumer spending habits and trends.
Kifiya works with Mastercard to launch first international remit to pay service in the Ethiopian market
Mastercard and digital service provider Kifiya have partnered to introduce a simple, secure and convenient digital solution that will allow citizens to pay for all bills in one location in Ethiopia.
RwandAir, the national carrier of the Republic of Rwanda has enabled Maestro, Discover, Diners and JCB credit cards for online tickets payments.
Epicor Software Corporation, a global provider of industry specific software has signed an international channel distribution deal to accelerate business growth and meet demand across Africa.
ACI Worldwide and Alipay have announced that they are launching Alipay in South Africa, via leading regional payment service provider Peach Payments.
Dutch fintech FACTS, providing much needed working capital to established small and medium sized enterprises (SMEs) in East Africa, is scaling up its activities, more than tripling the number of clients served.
Mobile network operator MTN Benin and Youtap have launched MoMoPay, a contactless mobile payment service for MTN Benin Mobile Money users.
WorldRemit, the digital money transfer service has added Android Pay to its service, offering a new way for WorldRemit’s Android Pay users to send money internationally and reach millions using mobile money accounts.
Safaricom Ltd may expand its popular mobile-banking service M-Pesa into countries such as Nigeria and Angola, as East Africa’s biggest company grapples with regulatory scrutiny in its home market of Kenya.
Youtap partners with MatchMove to deliver open loop payments for mobile money customers in Africa and Asia
Youtap, a global provider of contactless mobile money payments and financial services software, has announced a partnership with MatchMove.
Nigerian banks' ability to access foreign currency has improved considerably since the Central Bank of Nigeria introduced a foreign exchange "window" at end-April aimed at investors and exporters, Fitch Ratings says.
PayU has rolled out strategies to intensify efforts to connect businesses to Nigeria’s online payment market. Annual online payments in Nigeria is estimated to surpass N200 billion this year from N167 billion in 2016.
The National Emergency Management Agency (NEMA) has adopted cash transfer as one of the strategic ways of reaching out to disaster victims.
Jumia has joined forces with technology company, Mastercard to drive cash out of the online retail sector and provide a more secure and convenient way for consumers to shop online
[Nigeria] FirstBank Re-elected to the Board of Advisors of PCI SSC: Remains the only African Bank on the Board
First Bank of Nigeria Limited has been re-elected into the Board of Advisors of the Payment Card Industry Security Standards Council (PCI SSC) for the third consecutive time.
CNN Marketplace Africa discusses new Mastercard digital payment services with Middle East and Africa President
Africa still remains a pivotal market for Mastercard’s global expansion as the company aims to reach 500 million consumers, Raghu Malhotra, President of Middle East and Africa for MasterCard has told CNN Marketplace Africa.
Victor Chandler is back. After a 3-year hiatus, his first foray is set to be as part of a new sports betting and gaming company to be called Bet Lion, focusing on East Africa and launching in August.
Xpress Money, a global money transfer brand, has seen a 14 per cent increase in remittances from the UAE that culminate onto mobile wallets in Kenya in the last two years.
MallforAfrica (MFA), Africa’s prominent e-commerce and m-commerce platform, has announced that it has launched a new dedicated website for eBay shopping enthusiasts in Africa.
Vice President, Dr. Mahamudu Bawumia, has disclosed that Government is working to meet its November 2017 timeline for the implementation of mobile money interoperability.
United Bank for Africa (UBA) has announced the roll out of the Debit MasterCard card in Cameroon in support of financially empowering all citizens.
TerraPay, the world's first mobile payments switch, has received the Frost & Sullivan Visionary Innovation Leadership Award for international remittances in Sub-Saharan Africa.
The mobile payments company Fortumo has announced that it has expanded its carrier billing services to 3 new African markets. More than 79 million mobile phone owners in Algeria, Ghana and Tanzania can now make payments for digital services.
Mobile wallets just became even more useful with the announcement that Mastercard, the leading company in payments technology, is adding Bee, the smart payment solutions provider, as a key player to its interoperable mobile ecosystem.
Mastercard and McDonald’s have entered into a strategic collaboration that will bring simpler and faster payment options to all McDonald’s customers when buying their favorite meal in store, at the drive thru or when ordering it online.
KOKO Networks, a tech platform that connects suppliers, retailers and consumers has launched their technology in Nairobi.
Mastercard and prepaid processing and payments solutions provider Global Technology Partners (GTP) signed a partnership agreement that will result in the latest prepaid solutions being made available across Africa to government institutions, financial services and corporate sector and consumers.
Jumia Nigeria is pleased to present the 2017 edition of the African Mobile Trends Paper. This is the third white paper presentation from Jumia delving into mobile trends across Africa and specifically Nigeria.
Leading travel commerce platform Travelport has entered into an arrangement with Kenya’s Travel Creations that will see Travel Creations become the first travel agent in Africa to roll out ‘GOL’ an online booking tool powered by Travelport’s technology.
Wirecard AG acquired all shares of MyGate Communications (Pty) based in Cape Town, South Africa.
Ekene Okechukwu is Founder of Bargainmasterng.com, Nigeria's social marketplace for online sellers and buyers.
The Informal Economy, or if you have a penchant for the more colourful descriptor, the “Shadow” or “Grey” Economy, is typically the term used to refer to the portion of a country’s economy that transact exclusively in cash
VoguePay has won the “Best Fintech Startup” award at the just concluded Cashless Africa Expo. The award is in recognition to online payment in Nigeria and Africa in general.
South African online retail store, Rabaki.com is now giving locals an opportunity to become part of the outlet and earn a 5% commission in return.
Halotel has partnered with NMB to allow five Million Halotel and NMB customers enjoy cash deposit and withdraw services from HaloPesa.
Two million customers have signed up for PesaLink less than two months after the digital bank-to-bank payments platform was launched by the Kenya Bankers Association.
Money transfer firm WorldRemit says that it will set up an office in Kenya this year as it seeks to diversify its business to intra-African remittances.