Tuesday, August 21Always On-point

FinTech

Traveling The World With Crypto? Ten Tips To Keep You Safe

Traveling The World With Crypto? Ten Tips To Keep You Safe

FinTech, Security
Thanks to the internet and the subsequent rise of cryptocurrencies, we are living in an increasingly borderless world. Digital nomads bounce from country to country and some intrepid travelers have started using bitcoin or ethereum in order to have more control over their financial accounts. But as crypto becomes more mainstream there are more pitfalls, especially when it comes to protecting your digital security. Traveling with crypto like Bitcoin or Ethereum can be easy thanks to blockchain technology... but are you staying safe? Photo credit: Shutterstock. Whether you’re interested in exploring the crypto nomad lifestyle more, or just want to buy a beer with BTC, here are ten tips on staying safe and having fun while traveling with cryptocurrency. The t
Here’s All There Is To Know About US Dollar Cards That Work Online

Here’s All There Is To Know About US Dollar Cards That Work Online

FinTech
A lot of people have been asking us about means with which they can buy online. This article is for you. For all those who would like to make online payments (yes even buy things online) and those who want to travel but do not want to travel with large sums of money you can use a prepaid Visa card/ Mastercard. Just deposit the foreign currency you want to use and you’re good to go. You can also withdraw the equivalent amount from the bank in any country that supports visa/MasterCard in that country’s currency.  The following banks offer these services: Ecobank, Steward Bank, FBC and NMB All banks mentioned except NMB do not need you to bank with them for you to take the card Find below the charges associated with this card and the limits for each of the banks
President Opens Empowerment Bank, Zimbabwe’s First ‘Youth-Focused’ Bank

President Opens Empowerment Bank, Zimbabwe’s First ‘Youth-Focused’ Bank

FinTech
Zimbabwe’s first youth-centric bank, called Empowerment Bank (EB) has just been launched today by President Emmerson Mnangagwa. The bank, which is a microbank, in essence, has “been formed with the purpose of providing social and financial solutions to the financially excluded population with a greater focus on the youth”. EB was launched under the auspices of the government, no wonder the presence of a number of government officials. While banks today do offer junior bank accounts, this is the only institution completely focused on the youth segment. I think this type of bank is what we need to nurture the next generation of bank customers in their banking journey. Hence this is a good initiative by the government. What does EB really do? EB says; Empowerment bank offers loans t
Will Wallet-To-Wallet Transfers Really Change The Fortunes Of OneMoney And Telecash?

Will Wallet-To-Wallet Transfers Really Change The Fortunes Of OneMoney And Telecash?

FinTech, Telecomms
It is no secret that the government is not too chuffed about EcoCash’s dominance in Zimbabwe. The minister of ICT, Supa Mandiwanzira is on record multiple times saying as much. The fact that the government has two products of its own in direct competition with EcoCash and yet combine to command a pitiful 2% market share makes it harder to swallow. EcoCash came out swinging and has an extensive agent and merchant network to show for it. Network effects then made it so that Netone’s OneMoney and Telecel’s telecash cannot compete. The government decided to use its unfettered powers to even the playing field. How did OneMoney and telecash fall behind? It is true that EcoCash is too dominant but that is because of the misplaced priorities and lack of foresight from the competition. We foun
Apple Bans Cryptocurrency Mining On Both IPhone And IPad

Apple Bans Cryptocurrency Mining On Both IPhone And IPad

FinTech
Apparently, Apple is coming for cryptocurrency miners on both the iPhone and the iPad. The company announced a new update to its developer guideline where it said apps may not run on unrelated background processes, such as cryptocurrency mining. In the interest of all those who know little or nothing about how cryptocurrency mining works, it is basically all about math that can only be done by certain classes of computers. Obviously, it is not possible to mine on iPhone or IPad. Verifying transactions when trading bitcoin is a complex process, and I don’t see how that can be possible on the iPhone or an iPad. Apple’s new guidelines may not have serious implications for miners at the moment since it is almost impossible to mine cryptocurrencies on the iPhone and the iPad. However, the
CBZ’s Smartchash Now Charges A Monthly Service Fee

CBZ’s Smartchash Now Charges A Monthly Service Fee

FinTech
CBZ low-cost account Smartcash is now charging monthly service fees. Previously, Smartcash had no monthly fee charges thus offering low-cost accounts to consumers. But, customers are now having to pay $3 per month to service their accounts. The Reserve Bank of Zimbabwe introduced the National Financial Inclusion Strategywith the sole aim of improving financial inclusion. Low-cost accounts are one of some measures of achieving their goal. Smartcash is also one of many low-cost accounts banks in Zimbabwe are opening for customers so as to increase their participation in the financial sector and ensuring that every person has affordable banking. Those who already have access to the banking sector open these low-cost accounts with a savings goal in mind, that is, to jus
Ecobank Invites African Fintech Startups To Apply For Their Funding Competition

Ecobank Invites African Fintech Startups To Apply For Their Funding Competition

FinTech, Mobile Money, Start Ups
Pan African bank, Ecobank has just called startups with Fintech solutions to apply for the Ecobank Fintech Challenge 2018. The competition is in its second year and last year over 850 contestants applied so competition will definitely be stiff. Ecobank Fintech Challenge gives African startups a chance to promote their fintech solutions partner or an opportunity to partner Ecobank. If given a chance to partner with Ecobank, startups can help with solutions to be implemented in one of Ecobank’s 32 markets (Zim included). The CEO of Ecobank Transnational Incorporated stated that the company is dedicated to supporting innovations in banking and finance across the internet: We, at Ecobank, believe that the current winds of change led by technology and innovation will redefine how banks
Banks Partly To Blame For Externalization Of Funds, Bankers Association Of Zimbabwe Confirms

Banks Partly To Blame For Externalization Of Funds, Bankers Association Of Zimbabwe Confirms

Breaking News, FinTech, News
Bankers Association of Zimbabwe (BAZ) has acknowledged that banks had a significant role to play in making the externalization of funds possible. Some weeks ago, President Mnangagwa released an infamous list that implicated many organizations and individuals in externalizing $827 million worth of funds. Charity Jinya, BAZ president admitted that some financial institutions had not practiced due diligence in making sure that CD1 forms are submitted for customers and this, in turn, left many international trade transactions unreconciled. CD1 forms are documents used by companies that engage in international trade and submitted to the Reserve Bank of Zimbabwe (RBZ) for settlement. BAZ said that banks were not doing enough in assisting customers to submit the CD
Startups Offering Agritech Solutions, This Is Your Chance To Get $50 000

Startups Offering Agritech Solutions, This Is Your Chance To Get $50 000

Applications, FinTech, Start Ups
United States Agency for International Development (USAID) is calling upon interested parties to apply for the Feed the Future Partnering for Innovation program. There is one advantage or disadvantage depending on where you stand: under USAID’s program, only female entrepreneurs can apply for the support. The program will help SME(Small-Medium Enterprises) led by women in smallholder markets. The initiative is part of the Accelerating Women Entrepreneurs Prize 2018 (AWE). Two companies will be awarded $50 000 packages for their efforts. The deadline for the application is 25 April. Applications are open to women in the sub-Saharan African countries that USAID works in (fortunately Zimbabwe is a part of the list). What exactly should you be doing? To be considere
Keeping Your Bitcoin On Exchanges Like Golix, Styx24 Or Coinbase Is Not A Good Idea

Keeping Your Bitcoin On Exchanges Like Golix, Styx24 Or Coinbase Is Not A Good Idea

FinTech
Bitcoin and other cryptocurrencies were created to you give control of your money. But when you store your bitcoin on an exchange, what’s the difference from just keeping your money in a bank which does not give you control of your money? So, it stands to reason that when you store bitcoin on an exchange you are just disobeying the founding principle of bitcoin. As usual when you disobey a principle of any system it comes with its risks and costs. I don’t need to jog your memory about the recent compromise of Golix’s user accounts that obviously left some users with shallow pockets. Or maybe not. On the international scene you might remember the hacking and stealing of bitcoins on Mt.Gox, the then largest bitcoin exchange in the world. Well I have 2 factor Authentication(2FA) I do
Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.