South Africa’s leading payment gateway provider Payfast has undergone a major rebrand. Having joined forces with PayGate and SiD under Network International, the company has created a new home for its consolidated offering. With a renewed focus on enabling growth – for the brand, its merchants, and the broader ecommerce industry – this milestone represents
Cash remains one of South African consumers’ favourite ways to pay because it’s convenient, easy, and offers low transaction costs for customers and retailers alike. That means that every small and medium sized retailer should be preparing itself to manage an influx of cash over the festive season as consumers splash out on treats and
Mastercard’s partnership with payment gateway, PayFast, increases Priceless possibilities by supporting SMEs within the PayFast ecosystem Consumers who pay using their Mastercard card, Masterpass or any other Masterpass-enabled banking app at any PayFast online checkout point stand a chance to win R10000 For the second consecutive year, Mastercard and PayFast have partnered to support SMEs,
Big ticket items and new payment methods deliver surprising data Black Friday and Cyber Monday came and went with a positive bang and a bag full of surprises, despite the concerns of pressure exerted by inflation and loadshedding. Chairperson of the ECommerce Forum of South Africa (EFSA) and PayU CEO, Karen Nadasen, shared, “Following trends from
There are more than 400 businesses and outlets using Tingg by Cellulant’s solution across Nigeria Tingg, Cellulant’s (https://www.Cellulant.io) acclaimed payment platform has been recognized as the ‘Merchants Payment Company of the Year 2022’, award at the BAFI Awards. The recognition was bestowed at the 10th BusinessDay Banks and other Financial Institutions (BAFI) awards event, which was
Merchants that use Peach Payments to accept digital payments can now leverage Instant EFT by Peach Payments to improve conversion, reach more customers and save on card fees South Africa-based digital payments gateway Peach Payments and API fintech Stitch have partnered to enable online merchants across South Africa to accept secure, low-cost instant EFT payments.
16% Growth in eCommerce Fraud Losses in Just 12 Months A new study from Juniper Research has found that the total cost of eCommerce fraud to merchants will exceed $48 billion globally in 2023, from just over $41 billion in 2022. It predicted that this growth will be accelerated by the increasing use of alternative
By working together, Pick n Pay and Mr D have just made online grocery shopping much better, easier, and more exciting for customers. Using the Mr D app, all your favourite Pick n Pay products can now be delivered right to your door. By bringing together the best of Pick n Pay and Mr D,
Shoprite’s Money Market Account is now a full-fledged bank account. It already provides almost two million banked and unbanked customers the best deal on the market. It’s official: Shoprite’s Money Market Account is now a full-fledged, transactional bank account, the first ever offered by a South African retailer – and the lowest cost entry-level bank
Zapper users can now link their bank accounts in the Zapper app to pay their favourite merchants securely at POS, in just one click South African independent mobile payments, insights, loyalty, and rewards platform Zapper has teamed up with payments and data API Stitch via its LinkPay product, to bring the latest in payments innovation
LC Waikiki customers will now be able to make payments seamlessly via mobile money in all their branches in Zambia Cellulant (www.Cellulant.io) Zambia has signed a partnership agreement with leading fashion retailer LC Waikiki, which will enable customers to make payments from all LC Waikiki stores across Zambia through the Tingg digital payment platform. As
What are the realities facing Africa’s boldest growth opportunity? After six years of planning, strategy and coordination, and now just 16 months since its inception, the African Continental Free Trade Area (AfCFTA) has the weight of the continent resting on its shoulders. AfCFTA will cover a market of 1.3 billion people and a gross domestic
The Merchants Getting Ready for Crypto: Merchant Adoption of Digital Currency Payments Survey reflects current projections, priorities and challenges around cryptocurrency payments, according to top U.S. merchants. As consumers progressively purchase a wider spectrum of goods and services via digital currencies, U.S. merchants are reflecting a greater optimism, prioritization and implementation of alternate payments to
ACI Worldwide, the global leader in mission-critical, real-time payments software, and NORBr, the leading global payment services distributor platform for digital merchants, and leading payment services marketplace for digital merchants, have announced a partnership. The collaboration allows merchants to connect to ACI’s merchant solutions, including ACI Secure eCommerce, ACI Omni-Commerce and ACI Fraud Management for
Entersekt integrates NuData Security’s behavioural analytics intelligence into its EMV 3-D Secure solution to provide Capitec customers with real-time risk-based authentication for online purchases Entersekt, a global leader in device identity and authentication solutions, today announced that Capitec Bank has implemented its innovative EMV 3-D Secure solution that boosts the security of e-commerce payments, while
If the Tinder Swindler scandal has taught us anything, it’s that scammers are finding increasingly creative ways to take your hard-earned cash. According to 2021 stats from datareportal.com, 57.7% of South African internet users have purchased a product online. With the increase in online purchases – from food and clothing to furniture and appliances –
The war in Ukraine has added concerns to an already tense cybersecurity environment. What’s more, recent international coverage about scammers using QR codes to misdirect funds is fuelling fraud uncertainty. But South African consumers, while wise to remain vigilant, are well protected if they stick to a few simple QR guidelines. Quick Response or QR
While AI and Machine to Machine (M2M) technology are nothing new, they are being deployed with greater speed and efficiency, and in more contexts within the South African payments and e-commerce environment. According to Andrew Springate, CEO of tech and financial gateway service provider PAYM8, the real potential of these technologies is just starting to
Weaver Fintech, a new division of omni-channel retailer Homechoice International (HiL), has made its first acquisition, buying an 85% stake in Cape Town-based buy-now-pay-later (BNPL) start-up PayJustNow. HiL is an investment holding company, focused on fintech and omni-channel retail through its subsidiaries. It is incorporated in Mauritius and listed on the Johannesburg Stock Exchange. According
Traditional retail trade across Africa is heavily driven by a cash economy and van sales, which involves a significant amount of risk. Cash flow issues can also limit business opportunities, as retailers in this market may not be able to purchase the stock they need when they need it, due to a lack of available
Mukuru, one of the largest remittance companies in Africa and a leading next generation financial services platform, has announced that its Mukuru Card has been activated for online purchases in South Africa, allowing holders of the card to take part in the eCommerce revolution even if they don’t hold traditional bank accounts. Mukuru CEO Andy
As we enter the New Year, now is a perfect time for retailers to assess their operations and seek new ways to boost efficiencies. One of the best ways to set a retail business up for success in 2022, is to embrace automated cash management to drive down costs, improve cash flow, save time, access
According to data released by Standard Bank, utilisation of contactless card payments increased by more than 100% compared to 2020. “It’s great to see that our customers have embraced innovation and have adopted contactless payments to transact seamlessly. This feature is increasingly popular simply because it makes the process of paying with your card much
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
As we near the festive season, Standard Bank is excited to announce that UCount Rewards members can now earn and redeem Rewards Points from more Rewards Retailers. This expansion of the Rewards Retailers is part of the bank’s key objective to give customers an array of retail choices aligned to their needs. The Standard Bank
As Black Friday approaches, businesses worldwide are preparing for the busiest consumer period of the year. In South Africa alone, Black Friday sales have grown by an astounding 9900% over the past six years. One of the biggest drivers of this is the upsurge in online retail which has exploded by 66% since the onset
Recognising the key role that digitisation is playing in the financial lives of more and more of its customers, South Africa’s leading fuel and convenience retailer Engen is prioritising electronic payment solutions at the core of its customer offering. With over 3.4 billion litres of fuel pumped from Engen forecourts in 2020, or approximately 25%
iVeri has announced that it has completed integration with software and consulting company Synthesis Software Technologies to increase the opportunities available to businesses using software-based Point of Sale (SoftPOS) across Africa and the Middle East. Synthesis became the first Tap on Phone solution provider in Africa when it launched Halo Dot with Nedbank in June 2020. This launch was
Xtra Savings members can now transact using their Xtra Savings cards following a significant update to the Shoprite Group’s Money Market Account. The Money Market Account, which has attracted 530 000 users since it launched just over a year ago, now provides customers with transactional banking functionalities, including sending money and making withdrawals. “The development
The Shoprite Group’s Money Market Account, which previously only enabled customers to deposit funds to pay for utilities and buy groceries, now provides customers with new transactional banking options including sending money and making withdrawals. Money Market Accounts offer banked and unbanked consumers, many of whom are regular customers at the Group’s stores, access to basic transactional banking activities that are specifically aimed at their needs.
Brands can now deliver immediate value to consumers through chat Clickatell (https://bit.ly/3vcSvd7), a leader in mobile communications and chat commerce, has announced it will unveil new payment capabilities via its Chat Commerce Platform at Money 20/20 Las Vegas, Oct. 24-27. Clickatell helps businesses easily deploy payments in chat channels with low to no execution risk
By Louis van Ravesteyn, Head: Agribusiness, Business and Commercial Client Segments, at Standard Bank Group Agriculture is a highly climate-sensitive industry, and as climate change intensifies causing changes in climate patterns and more severe climate events, like floods or extended periods of dry spells during critical growth phases of crop production, farmers must contend with
Standard Bank and Pick n Pay customers’ shopping experience has just become even more convenient, easy, and safe, with the launch of Standard Bank’s EasyScan – a new service that enables customers to pay for their shopping using the Standard Bank Mobile Banking app. Standard Bank customers registered on the Banking App can scan
Allowing more entrepreneurs to transact via in-person card payments, simply and securely Payments and software company, Yoco, has partnered with over 700 retail stores nationwide, to allow more merchants access to affordable and efficient electronic card machines and financial tools to start and run their businesses. Entrepreneurs are seeing a growing tapes surrounding product structures
The award recognises Finserve’s commitment to innovation and customer centricity Equity Group’s fintech subsidiary, Finserve Africa, has been named the best in E-commerce – Banking/Financial and Insurance Services Gold Category at the 3rd Edition of the Kenya E-Commerce Awards 2021 held in Nairobi. The award recognises Finserve’s continued commitment to innovation and customer-centricity in Kenya
New partnership accelerates the move towards contactless digital engagements for ecommerce Clickatell, a leader in mobile communications and chat commerce, and Visa’s global payment and fraud management platform, Cybersource, have announced a partnership to make it easier for businesses to deliver chat commerce and contact-free checkouts with Clickatell’s newly announced Chat 2 Pay solution. Chat
Excellent Engen service. No cash in your pocket. No stress. Engen’s innovative 1app now features a ‘Tip an Attendant’ function, which allows motorists and shoppers across South Africa to tip deserving Engen staff for the warm and friendly service that they have long been renowned for. In partnership with Telkom Financial Services, this new value
76% of the region’s small and medium businesses in food, beverage, and entertainment are optimistic about the next 12 months, according to Mastercard MEA SME Confidence Index SME confidence levels in the region were highest among businesses in retail, closely followed by food, beverage, and entertainment sector Research identified key areas with the greatest potential
78% of SMEs in region’s retail sector are optimistic about the next 12 months, according to Mastercard MEA SME Confidence Index SME confidence levels were highest among businesses in retail, ahead of other sectors, like food and beverage, entertainment, construction, and manufacturing Research identified key areas with the greatest potential for growth with half of
Shoprite is the first South African retailer to launch an instant electronic funds transfer (EFT) service. The EFT service enables customers to instantly send vouchers to another person in just three simple steps. Senders only need to enter the recipient’s mobile number and the amount they wish to pay. There is no need to download an app
With customers increasingly doing their shopping from their mobile phones, Woolworths is once again set to transform its customer experience with the launch of its Near Field Communication (NFC) enabled stores. This latest addition, another first for South African retail, extends the retailer’s digital shopping capability by allowing customers to enjoy a seamless omni-channel shopping
81% of women entrepreneurs across the Middle East and Africa have a digital business presence according to Mastercard MEA SME Confidence Index Latest research by Mastercard highlights high digitalization among women-owned businesses as opportunity for broader SME recovery and digital economy growth Despite the gender gap and social challenges, entrepreneurial women across the world and
With Africa fast becoming a global leader in the agtech space, MoData’s value propositions offer smart solutions for the sector. Agriculture has always been key to Africa’s economic growth. It accounts for 14 per cent of Africa’s GDP, 52 per cent of the continent’s workforce, and 70 per cent of the population’s livelihoods. New research
By Jaco Saunders, Commercial Director at MACmobile Mobile money has seen massive uptake in Africa over the last decade, however, South Africa has lagged due to the country’s stringent banking legislation, which has been a significant barrier to entry. However, the potential for mobile money solutions cannot be ignored, and financial institutions are partnering with
One of the largest online payment service providers for emerging markets, PayU, has purchased CELO, and will also offer Celo stablecoins as a payment option for merchants, powered by First DAG PayU, the payments and fintech business of Prosus, has announced its collaboration with Celo, the mobile-first, open-source blockchain ecosystem focused on making DeFi accessible
In an effort to foster growth for both the formal and informal sector in Zambia, Pan-African Payments business Cellulant rolls out Tingg, a digital payments platform enabling businesses and their consumers to accept and make payments seamlessly Payment technology over the years has completely transformed how retailers operate. Thirty years ago, most retailers across Africa
The last year-and-a-half has seen a rapid rise in all forms of contactless payments. For merchants across the globe, enabling these payments as a means to reduce surface contact has been a pandemic trading necessity. However, as time moves on, choosing which payment options you offer should not be solely based on hygiene, but rather
The Global Prepaid Card Market size was valued at USD 2.01 trillion in 2019 and is predicted to reach USD 18.47 trillion by 2030, with a CAGR of 22.5% from 2020-2030. The global prepaid card market is on a strong growth momentum, owing to the growing demand for digital payments and a proliferating e-commerce sector,
In just eight months, contactless payment and loyalty solution, Zapper, has reduced time to exit for parking users by 43% at Cape Town’s busiest mall, Canal Walk. The parking solution has also shown a marked decrease in payment friction as well as reducing the centre’s cash requirements and associated costs. The Zapper system was launched
Banzpay partners with Stanchion to deliver innovative payments solutions to its clients across New Zealand and the Pacific Islands. Banzpay, a New Zealand-based fintech services provider of payments and banking solutions to financial institutions across New Zealand and the Pacific Islands, has partnered with Stanchion Payment Solutions, global specialists in payment solutions and integrations, to
