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Verve & Moniepoint partner to launch debit card and expand access to financial services
Verve has joined forces with Moniepoint Microfinance Bank to increase access to financial services for Nigerians through the launch of the Moniepoint Verve Debit Card.
Interswitch launched Google Pay support on its payment gateway in Nigeria
Interswitch, Africa’s leading integrated payments and digital commerce company, will support Google Pay on its Interswitch Payment Gateway (IPG) platform.
Mastercard partners with Alerzo to digitize SMEs in the Nigerian FMCG space
This partnership aims to empower businesses by offering digital payment solutions, financial training, and access to credit, ultimately leading to increased sustainability and success in the market.
Equity Bank and Mastercard sign agreement to scale consumer payment experience in the region
Equity Bank has signed an ambitious Customer Business Agreement with Mastercard, aimed at giving customers a broad range of benefits from a wide selection of Mastercard payment solutions ranging from World and World Elite cards, corporate cards and virtual cards
Fintech startup Sendwave launches new banking product targeting Kenyans in the US
Kenyans living in the US stand to gain from a new banking product that allows users to earn interest and pay reduced fees on international remittances. The new product dubbed Sendwave Pay was recently launched by digital remittance company Sendwave.
Yellow Card and MoonPay collaborate to enhance crypto accessibility in Nigeria
This strategic partnership aims to streamline and enhance the crypto purchasing experience for Nigerians by leveraging local bank transfers.
Microsoft deepens relationship with PayPal to offer simple, flexible payment options
Venmo is currently available in the Microsoft Store on Xbox in the U.S. These new integrations offer customers more flexible ways to pay and help increase customer loyalty.
[Kenya] 7 in 10 businesses support digital payments for ease of trade, report
An assessment contained in the report dubbed ‘The Future of Finance‘ listed ease of transacting and record keeping among key drivers of digital payments despite a five per cent increment in excise duty.
Fintech firm Lipa Later gets nod for public fundraising in the US
This is a significant milestone for Lipalater as it has become one of the first African companies to secure the green light from the esteemed US Regulator - SEC!
Visa, NymCard launch plug & play end-to-end issuance platform
Visa, the world's leader in digital payments, has launched the Visa Ready to Launch (VRTL) programme, giving fintech and non-banking entities a seamless experience in issuing payment products.
[Kenya] Visa working with local banks to roll out Tap To Pay payment services
The new Tap To Pay service allows customers to make in-store payments through their banking App by tapping their Near-field communication (NFC) enabled smartphones at any contactless-enabled payment terminal.
DTB and Boya join forces to introduce virtual cards for business payments
The partnership is a collaborative effort between the two organisations that combines their respective strengths to drive innovation, enhance customer experience, and reshape the financial industry.
Kenyan fintech Cellulant cuts off 20% of its workforce
Cellulant, the Kenyan-based payments firm is laying off 20% of its workforce. The restructuring exercise the fintech says is expected to be implemented in the coming days.
GIM-UEMOA and PaySky partner to bolster fintech in West Africa
GIM-UEMOA signed an agreement with PaySky, the leading digital payments ecosystem enabler for the development of GIMpay.
[Kenya] Safaricom increases M-PESA account and daily transaction limits
Kenya’s leading telco Safaricom is set to increase M-PESA daily transaction limits to KSh. 500,000 following approval from the Central Bank of Kenya. The higher account limit will be effective from Tuesday 15th August 2023 for all M-PESA customers.
[Kenya] Paymentology and Boya simplify expenses for corporates with new partnership
Paymentology, a global issuer-processor has announced its partnership with Kenyan fintech Boya to simplify expenses for corporates in the country.
Airtel Africa and Mastercard launch new remittance transfer service
Airtel Africa and Mastercard announced the launch of a new cross-border remittance service that will enable Airtel subscribers across 14 African markets to send and receive money safely and securely, with speed and certainty.
Pan-African payment firm Seerbit unveils platform that allow businesses to launch their own fintech solutions
Seerbit, a Pan-African payment solutions provider, has unveiled Alpha, a white-label product that makes it easier for financial institutions, travel and hospitality companies, online marketplaces and other businesses to drive growth and expedite the penetration of digital payments in Africa by seamlessly launching their own digital financial technology solutions.
Mastercard partners with EMIS to boost to roll out contactless card with EMV tech in Angola
Mastercard has entered a strategic partnership with the Empresa Interbancária de Serviços S.A (EMIS) to roll out a co-branded contactless card with EMV technology to boost the digital economy and accelerate digital transformation in Angola.
Mastercard, Lipa Later join forces to expand Buy Now, Pay Later solutions In Africa
Mastercard has announced a strategic partnership with Kenyan Buy Now, Pay Later (BNPL) company Lipa Later to accelerate the expansion of BNPL payment services in Africa.
Verdant Capital funds Patasente Uganda
Verdant Capital to announce a revolving credit facility for Patasente Uganda, a digital trade services platform for farmers, warehouses, and factories.
Nigeria trails South Africa and Kenya in Africa’s B2B payment revolution
Nigeria trails South Africa and Kenya in the development of key B2B payment processes across Africa, including the adoption of electronic bank transfers, speed of processing invoices and payment automation.
Nigeria trails South Africa and Kenya in Africa’s B2B payment revolution, Duplo report
A new report from Duplo, a business payment platform for African businesses of all sizes, has revealed that Nigeria trails South Africa and Kenya in the development of key B2B payment processes across Africa, including adoption of electronic bank transfers, speed of processing invoices and payment automation
Visa opens applications for its Africa Fintech Accelerator Program
Payments tech company Visa has opened applications for startups to participate in the first cohort of the Visa Africa Fintech Accelerator program.
Ecobank et PAPSS s'associent pour améliorer les paiements transfrontaliers en Afrique
Le Groupe Ecobank et de règlement (PAPSS) ont signé un protocole d'accord visant à faciliter le règlement des transactions transfrontalières du Groupe, y compris les transactions de toutes leurs filiales, par l'intermédiaire du PAPSS.
Nigerian fintech Flutterwave partners with IATA to simplify payments for airlines serving Africa
With this integration, airlines across the world are able to process payment from customers through cards, bank transfer, mobile money, alternative payment methods and other payment modes available on Flutterwave.
GIM-UEMOA joins Nexo Standards to simplify cross-border payments across West Africa
GIM-UEMOA brings together 145 members including banks, financial and postal institutions, microfinance structures, electronic money institutions and promotes electronic payment systems and means of payment to the banking and financial sectors.
The Bank of Tanzania grants license to DPO Pay to operate as a Payment Service Provider
The National Payment System Act, 2015 requires all PSPs to undergo a rigorous license application process to provide payment services in Tanzania.
[Nigeria] Flutterwave launches new payment product to ease education fees payments
Flutterwave has launched Tuition, a new payment product to allow African users to conveniently pay various fees to educational institutions within Africa and overseas using their local currencies.
Visa et GIM-UEMOA s’associent pour le développement de GIMpay
Visa et GIM-UEMOA s'associent pour développer GIMpay, un écosystème innovant des paiements pour la région de l'UEMOA.
Aptiway rejoint l'écosystème GIMpay pour renforcer la sécurité et la confiance dans les services financiers.
Le Groupement Interbancaire Monétique de l'UEMOA (GIM UEMOA ), organisme international dédié à la promotion des paiements électroniques sécurisés et efficaces a signé un accord de partenariat avec Aptiway.
Safaricom’s M-PESA super app has surpassed three million users
Safaricom’s M-PESA super app has surpassed three million users up from 1.2 million in April 2023. Safaricom revealed this on Thursday while announcing two new additional services two the app.
Mastercard et NAPS s'associent pour promouvoir l'innovation dans le paysage des paiements et du digital
Mastercard et NAPS, fintech marocaine de premier plan, ont signé un partenariat de long terme visant à développer des solutions de paiement innovantes pour les particuliers et les entreprises
[Ethiopia] Chapa partners with Telegram to boost digital payments
The collaboration aims to empower merchants using Telegram to seamlessly accept payments from their customers, marking a significant milestone for financial inclusion and digital payments in Ethiopia.
NMB Bank Tanzania partners with UnionPay to reach at 30,000 merchants with mobile commerce
This partnership comes at a time when the world is easing towards digital payment since Covid-19, resulting in an increase in the digital user base and shifted consumer purchasing behaviour.
Mastercard and PayU launch first Click to Pay embedded payments experience in South Africa
This makes it convenient, seamless, and safe for consumers to check out across various Click to Pay-enabled sites.
KCB signs African cross-border payment deal to support customers
KCB Group has signed an Africa-wide deal to facilitate settlements of cross-border transactions on the continent.
Africa-focused fintech platform PalmPay marks 25 million user milestone in Nigeria
PalmPay, a pioneering Africa-focused fintech platform, is celebrating a significant landmark in its journey, marking 25 million users on its app.
WeCashUp rejoint le programme Fintech Fast Track de Visa
WeCashUp s'associe à Visa pour innover dans le domaine des paiements en Afrique.
The power of payment technology in bolstering SA’s rural and informal businesses
South Africa faces the challenge of having a significant percentage of consumers who remain unbanked and have limited financial literacy.
[Kenya] KCB Bank bets on Tap To Pay to deepen uptake of cashless payments
KCB Bank has partnered with Visa and Thales to allow its customers with Android handsets and Garmin wearables to make contactless payment transactions.
Worldpay from FIS teams up with Volt to bring power of open banking to merchants
Global financial technology leader FIS® has announced a new collaboration between its merchant solutions business, Worldpay from FIS, and Volt, an open payments gateway.
NymCard acquires Spotii to offer BNPL-in-a-Box for Banks and Financial Institutions
NymCard, the leading payments infrastructure provider in the MENA region, has completed the acquisition of Spotii, a prominent Buy Now Pay Later (BNPL) Fintech operating in key markets including KSA, UAE, and Bahrain.
PayMate accelerates expansion in CEMEA and APAC to capture the USD 68 trillion B2B payment opportunity
PayMate India Limited, a leading digital businessto-business (B2B) payments and services provider announced that the Company multiplied its footprint across more regions in Central Europe, the Middle East, Africa (CEMEA), and the Asia Pacific (APAC); in addition to India and the UAE.
I&M Bank Tanzania partners with Mastercard to launch premium world debit card and multicurrency prepaid cards
These cards will enable customers to make seamless transactions in both domestic and international markets.
[Tanzania] I&M Bank and Mastercard launch a suite of Debit and Multicurrency Prepaid Cards
I&M Bank Tanzania has partnered with Mastercard to launch a suite of Debit and Multicurrency Prepaid Cards. These cards will enable customers to make seamless transactions in both domestic and international markets.
VodaPay launches new Deposit and Send Money services on the super app
Two new Deposit and Send Money services have been added to the VodaPay super app. The innovation is the latest step in Vodacom Financial and Digital Lifestyle Services quest to make financial inclusion a reality for all South Africans.
The advantages of immutable for cross-border payments
As the world becomes more interconnected, cross-border payments are becoming increasingly common.
Flutterwave and Token.io partner to provide pay by bank transfer to users in UK and EU
Flutterwave, Africa's payments technology company, has collaborated with Token.io, Europe's account-to-account (A2A) payment infrastructure provider, to power Pay By Bank transfer capabilities for Flutterwave's platform.
[Column] Andrew Springate: Spearheading Electronic Funds Transfer (EFT) innovation in South Africa and beyond
While the journey towards a fully modernised Electronic Funds Transfers (EFT) market in Africa has its challenges, the opportunities far outweigh them.
MultiChoice, Rapyd and General Catalyst to develop new integrated payment platform for Africa
MultiChoice Group, Rapyd and General Catalyst on Monday announced a joint venture aimed at developing an integrated payment platform for Africa.
Fintech firm dLocal receives regulatory licenses to operate in Kenya and Rwanda
dLocal, the fintech firm has announced that the Central Bank of Kenya and the National Bank of Rwanda have granted it their respective payment service licenses.
[Kenya] Digital payments firm DPO Pay announces new leadership appointments
African digital payments company DPO Pay has announced the appointment of Isabella Marira as Group Head of Operations. The firm has also named Daisy Shipwoni as Head of Marketing.
FEEXPAY a officiellement rejoint la sphère fintech africaine
FeexPay, un agrégateur de paiement pour accélérer l’inclusion financière sur le continent africaine.
Apis Partners leads €29M Series A funding for African fintech Peach Payments
Apis Growth Fund II, a private equity fund managed by Apis Partners LLP announces its proposed investment of €29M (US$31M) in Baobab Payments GmbH (trading as Peach Payments), a rapidly growing digital payment service provider that enables online payments in Africa.
Safaricom granted license to operate M-PESA in Ethiopia
Safaricom Ethiopia has today officially been granted the license to operate mobile money services in Ethiopia. The licence, coming seven months after the commercial launch of GSM services.
Vantage enhances trader experience with PayPal addition
Multi-asset broker Vantage, an award-winning* international trading platform for Contracts for Difference (CFD) on Forex, Commodities, Indices and Shares, has today announced the addition of PayPal to its payment options.
Standard Chartered partners with PVH Corp. on sustainability-linked supplier finance programme
Under this new sustainability-linked facility, PVH’s suppliers will have their day-to-day operations benchmarked against PVH’s environmental & sustainability performance metrics.
Flow Global raises fund to expand and scale rapidly within and across markets
Flow Global raises additional Bridge Funding to continue scaling its ecosystem-agnostic digital growth solution for merchants.
[Kenya] Central Bank rolls out a QR code standard for facilitating digital payments
CBK says the Standard will guide how Payment Service Providers and banks (institutions) that are regulated by the CBK will issue QR Codes to consumers and businesses that accept digital payments.
BudPay, Partners with Bet9ja to offer seamless online betting experience
BudPay, a global provider of payment processing services, and Bet9ja, the leading online betting platform in Nigeria, have launched a new collaboration to improve the payment experience for users of well-liked sports betting across both web and mobile.
Nigerian payment fintech VigiPay selects ThetaRay AI Solution to enhance safe transactions
Through the agreement, ThetaRay will provide VigiPay the SONAR AML solution, a cloud-based transaction monitoring and screening platform that can detect the earliest signs of sophisticated money laundering activity.
Pyypl rolls out its social, micro-investment platform to African entrepreneurs and micro-SMEs
Fintech startup Pyypl has announced the commercial rollout of its social, micro-investment platform for self-employed entrepreneurs and micro-SMEs in Africa.
Fintech startup Payday re-launches in Rwanda, partners with Starlink to enable internet access
Pan-African payments startup PayDay has re-launched in Rwanda and announced a partnership that will enable Startlink customers to purchase their subscription services through the platform.
BudPay launches a fintech hackathon in Nairobi
BudPay, the payment infrastructure company offering payment services to businesses in emerging markets has announced plans to host a fintech hackathon in Nairobi.
PAPSS et ASEA établissent un partenariat pour révolutionner les paiements transfrontaliers des bourses de valeurs en Afrique
La Banque africaine d'import-export (Afreximbank) et le secrétariat de la zone de libre-échange continentale africaine (AfCFTA) ont développé le PAPSS, qui permet des paiements transfrontaliers instantanés en monnaie locale.
PAPSS and African Securities Exchange Association partner to promote cross-border payment of stock exchanges in Africa
The Pan African Payment and Settlement System (PAPSS) and the African Securities Exchange Association (ASEA) have signed a Memorandum of Understanding (MoU) to enhance collaboration and cooperation in promoting cross-border payments of Capital Markets infrastructure in Africa.
DFS Lab and Stellar Development Foundation to launch fund for transformative digital payments in Africa
DFS Lab has announced the launch of the DFS Lab Stellar Africa Fund I to back high-potential builders and teams in Africa who aim to transform the digital payments landscape and beyond by building on the Stellar network.
AfriBlocks leverages KyckGlobal's cross-border payments to connect African freelancers to global firms
AfriBlocks, the pan-African freelance talent marketplace, has recently integrated with KyckGlobal to offer the Visa push-to-card payment method for freelancers in four African countries – Kenya, Zambia, Ghana, and Namibia.
Mastercard's cross-border services express helps modernize international payments
Increasingly, consumers and businesses are looking for ways to send money or pay vendors across the globe quickly and securely. Cross-Border Services Express delivers that completely in a digital-first experience.
Yellow Card's payments API opens doors for businesses to instantly access African markets
Yellow Card, the largest Pan-African cryptocurrency exchange, has announced the launch of its new Payments API. This new product will enable businesses to on-and-off-ramp customers through Yellow Card's crypto rails.
dLocal launches new payment platform to boost African e-commerce transactions
Known as dLocal for Platforms, the end-to-end payment solution will serve marketplaces, on-demand services, and any other platform business models.
Mukuru launched Chisipite Drive-Thru to easy international money transfers
The Chisipite Drive-Thru is one of the fintech's new locations in Zimbabwe, along with nine other sites for domestic and international money transfers launched across the region.
Mastercard accelerates sustainable card efforts
Mastercard has announced it is accelerating efforts to remove first–use, PVC plastics from payment cards on its network by 2028.
Mastercard and EthSwitch boost digital payments adoption in Ethiopia with new partnership
EthSwitch, Ethiopia’s national payment switch has signed an MoU with Mastercard that will enable financial institutions across Ethiopia to boost the adoption and usage of digital payments.
Mastercard and EthSwitch partner to boost the payments sector in Ethiopia
EthSwitch, Ethiopia’s national payment switch has signed a Memorandum of Understanding (MoU) with Mastercard that will enable financial institutions across Ethiopia to boost the adoption and usage of digital payments.
Mobile money taxation could hamper financial inclusion gains in Africa, report
Mobile money services have transformed the lives of many people across the African continent but taxation policies pose a significant challenge to the financial inclusion gains made by these innovations.
TerraPay raises $100 million in series B funding to expand global payments infrastructure
TerraPay, a global payments infrastructure company, has successfully closed its Series B equity financing round, raising in excess of $100 million in equity and debt financing.
Digital payments network MFS Africa partners with Access Bank to enable outward remittances from Kenya and Nigeria
Digital payments network MFS Africa has partnered with Access Bank, Nigeria’s largest bank which operates across 17 markets, to expand AccessAfrica remittance corridors.
[Report]: Mobile money taxation could hamper financial inclusion gains in Africa
Mobile money services have transformed the lives of many people across the African continent but taxation policies pose a significant challenge to the financial inclusion gains made by these innovations.
Payday secures $3M seed to power the future of work for Africa
Payday, a neobank issuing global (USD, EUR and GBP) accounts to Africans has raised $3M seed round to drive its expansion into Europe, North America and the rest of Africa.
Fintech firm NALA receives PSP license from Bank of Tanzania
NALA, the fintech firm payments company born in Tanzania has been granted a Payment Service Provider License to operate in the country.
Applications for the Inaugural AWS FinTech Africa Accelerator Now Open
Amazon Web Services’ Startup Loft Accelerator has announced the inaugural launch of its AWS FinTech Africa Accelerator. The program is open to pre-seed and seed-stage fintech founders operating in Africa.
Tigo, Selcom and Mastercard partner to launch online digital payment solution in Tanzania
This partnership will empower Tigo Pesa customers to transact on global payments platforms and benefit from Mastercard’s technology which will enable new digital commerce opportunities for consumers and merchants, through simple and secure payment experiences.
PAYM8 launch a new SoftPOS solution in partnership with WIZZIT
The solution offers an innovative alternative to traditional point-of-sale devices and will give PAYM8 customers a safe, easy way to pay that can be used anywhere.
Yalla Xash partners with Hub2 to expand money transfer services from North America to West Africa
The agreement will enable Yalla Xash to leverage Hub2's extensive network of partners and agents in Africa and facilitate faster, more secure, and more affordable money transfers for customers sending to West Africa.
Zemen Bank partners with global software firm Netcetera to enhance digital payments
The market for digital payments is growing steadily in Ethiopia, as more and more customers gain better access to e-Commerce sites and want to shop from their mobile devices.
Flutterwave secures two additional licenses in Rwanda
With these new licenses, in addition to being a Payment Service Provider, Flutterwave can offer money deposit and withdrawal, electronic funds transfer, as well as inbound and outbound remittance services to the 13.46 million people living and working in Rwanda.
Mastercard extends partnership with Banque Misr to enhance digital payments portfolio in Egypt
Building on their successful strategic collaboration, Banque Misr, signed a long-term cooperation agreement partnership with Mastercard to provide the bank with the latest digital payment technology to provide new products, services and innovative solutions to customers, from all segments, and to support digital solutions with advanced and competitive advantages.
[Nigeria Business Week] Andrea Ayemoba: Investments take priority over all
With global inflation spiraling out of control, every country is working harder than ever to welcome new enterprise and business. Nigeria made great progress in this in recent months.
Growing Crypto Market in South Africa - What Cryptocurrency is best to invest in?
Undoubtedly, trading crypto has become one of the primary sources of income for many people. In South Africa, a few people trade crypto full-time, while most treat it as a side hustle.
Africa is one of the world's fastest growing crypto markets
Analysis by blockchain data platform Chainalysis has revealed that Africa’s crypto market is growing faster than anywhere else in the world.
[East Africa Business Week] Bob Koigi: Boosting small businesses’ competitivity in the region
Small businesses are the engine of the East African economic growth, employing millions and opening up the member states to interact with each other through seamless trade.
[Column] Mike Smollan: South African retail trends for 2022 and beyond
Globally, overwhelmed supply chains, supply-demand imbalances and commodity-driven cost pressures as Russia invaded Ukraine, pushed inflation up and put further pressure on businesses and consumers alike.
[East Africa Business Week] Bob Koigi: Investing in women-led businesses to deepen integration
East African member states, private sector players and development partners have stepped up their investment in women-led businesses and SMEs in a move likely to impact cross-border trade and boost integration in the region.
South Africa is a step closer to a more accessible national payment system
South Africa clears the way for broader financial inclusion with the launch of a low-value, real-time digital payment service.
[Kenya] DTB and Mastercard partner to offer payment solutions for fintechs
Diamond Trust Bank (DTB) and Mastercard today announced a strategic agreement that will enable the bank to provide payment cards to tech-enabled companies including fintechs in Kenya.
[Uganda] PesaPal to accept Airtel Money payments
Nairobi-based fintech company PesaPal has partnered with Airtel Mobile Commerce Uganda Limited (AMCUL) and PesaPal Uganda to provide payment solutions through Airtel Money.
Cross Switch Ghana receives approval from the Bank of Ghana to operate as an Enhanced Payment Service Provider
Cross Switch Ghana LTD, and Cross Switch International S.A.R.L. have announced that Cross Switch Ghana LTD has obtained approval from the Bank of Ghana to operate as an Enhanced Payment Service Provider.
COLUMNS.
[Column] Ruth Njihia: Unleash your business potential with Google Cloud and Incentro Africa
In today's fast-paced world, data is the currency of success. Yet, many businesses across Africa face the daunting challenge of collecting, storing, analyzing, and visualizing their data effectively ...read full column here
[Column] Sandi de Souza: Why top-performing companies use AI to boost procurement
One Deloitte study found that high-performing procurement organisations are eighteen times more likely to have deployed AI capabilities than their lower-performing peers ...read full column here
[Column] Patrick Mweheire: Major investment drive sparks East African trade and development
East Africa is poised to unlock new pathways for trade, development and growth. This comes as businesses, regulators and banks find and drive new direct investment ...read full column here
INTERVIEWS.
[Interview] Vince Goncalves Regional Vice President Africa at ExecuJet MRO Services
ExecuJet MRO Services (ExecuJet) is a leading global multi-OEM MRO company with a strong presence around the world … read full interview here
[Interview] Caroline Mutuku, General Manager, Glovo, Kenya
n this interview, she discusses the outlook for the business environment, upcoming services, sustainability efforts, and more… read full interview here
[Interview] Renate Swanepoel, COO, INC. Networking
Renate Swanepoel is an entrepreneur, global networker and inspirational speaker that has helped thousands of people around the world to find their purpose … read full interview here