Tuesday, August 21Always On-point

FinTech

Mastercard and PayPal Expand Digital Partnership Globally

Mastercard and PayPal Expand Digital Partnership Globally

Breaking News, FinTech, News
Mastercard and PayPal has announced a significant expansion of their longstanding partnership into Canada, Europe, Latin America and the Caribbean and the Middle East and Africa to enhance customer choice, optimize the consumer experience and make Mastercard a clear payment option within PayPal across the globe. With the addition of these markets – and following the recent expansion of their partnership into the U.S. and Asia Pacific – Mastercard and PayPal have now reached a global agreement. Similar to previous agreements, the global expansion will create a number of joint growth opportunities that will advance Mastercard and PayPal’s shared vision to offer consumers greater choice and flexibility to manage and move their money: Mastercard will be presented as a clear and equal pay
Wirecard Facilitates Online Sales of Webasto Electric Vehicle Charging Stations

Wirecard Facilitates Online Sales of Webasto Electric Vehicle Charging Stations

Breaking News, FinTech, News
The payment expert Wirecard supports payment processing for the new online shop of Webasto, a global systems partner for virtually all automotive manufacturers. Electric vehicle charging solutions have recently been made available to buy from the Webasto online shop. As part of the collaboration, the leading global payment service provider Wirecard is integrating four payment types – Visa/Mastercard, iDeal, SOFORT transfers and PayPal – into the web shop, thereby covering the major national and international payment methods. The trend towards using renewable energy and alternative drivetrains in the automotive sector is growing: According to the Kraftfahrt-Bundesamt (German Federal Motor Vehicle and Transport Authority; KBA), the number of electric cars in Germany increased to 34,000 in
Direct Pay Online Gains Security Certification in 12 Countries Across Africa

Direct Pay Online Gains Security Certification in 12 Countries Across Africa

Applications, FinTech
Direct Pay Online Group (DPO) is the first payment service provider (PSP) in Africa to receive the Payment Card Industry Data Security Standard (PCI DSS) Level 1 certification in 12 African countries. This comes after the successful completion of comprehensive audits in the Group’s global headquarters and all its other markets which include Kenya, Tanzania, Uganda, Ethiopia, Namibia, Nigeria, Rwanda, Botswana, Ghana, Zambia, Malawi and Zimbabwe. In Africa, the Direct Pay Online Group headquarters is in Kenya and the team on ground runs all other markets with the support of local branches & teams. PCI DSS is the highest privacy and security standard in the Payments industry and applies to entities that store, process or transmit cardholder data or sensitive authentication data. The c
UBA Introduces First Mastercard Debit Card in Zambia

UBA Introduces First Mastercard Debit Card in Zambia

Breaking News, FinTech
United Bank for Africa Zambia (UBA) announced the launch of the first Mastercard debit card in Zambia to financially empower its citizens. Focused on displacing cash, the electronic payment solution will deliver a quick, convenient and secure payment alternative for citizens – instantly. In line with the bank’s strategic vision, UBA is introducing innovative payment solutions tailored to meet the needs of its customers across Africa. With the UBA Mastercard debit card, cardholders have full control of their finances as funds are debited directly from their savings or cheque accounts and reflect in real time. The card also features the latest EMV Chip and PIN payment technology, providing customers with the highest security protection to ensure their money is safe. “The introduction o
Bitcoin’s rise in African markets is driven by an old Russian ponzi scheme

Bitcoin’s rise in African markets is driven by an old Russian ponzi scheme

FinTech, Security, What's Hot
“Welcome to the System! Together we will change the world!” These are the words I found scrawled at the bottom of a web page, right next to a picture of Sergei Mavrodi, a convicted Russian fraudster infamous for operating Mavrodi Mundial Moneybox (or MMM), one of the world’s largest ponzi schemes. Two decades after MMM was shut down, the organization reemerged under new branding, as a technology-driven “financial mutual-aid network” that uses Bitcoin to provide its members up to 100% returns on their contributions. If MMM’s participation numbers are to be believed—they claim to have over 200 million participants—they may be one of the biggest drivers of Bitcoin adoption in the world today, especially in low-income areas. Bitcoin may not be an unalloyed good for the developing world.
Zimbabwe’s NetOne plans ‘M-Pesa of Southern Africa’

Zimbabwe’s NetOne plans ‘M-Pesa of Southern Africa’

FinTech, Mobile Money, What's Hot
Zimbabwe's state-owned mobile network operator NetOne plans to launch its OneMoney mobile money service in October, to complement the already-released debit card linked to the ZimSwitch platform. OneMoney will be linked to a debit card unveiled two weeks ago during the syndicated mobile money platform (SMPPS) roll-out to farmers, according to NetOne acting CEO Brian Mutandiro. The OneMoney debit card is linked to ZimSwitch and costs R40 (US$3) and customers can walk into any NetOne shop to collect their cards. "I can assure you that the mobile financial service in Zimbabwe will never be the same again," said Mutandiro, who added that Safaricom's M-Pesa supplied the vendor system for OneMoney. State-owned MNO announces intention to launch OneMoney mobile money service. "OneMone...
NetOne’s OneMoney takes market by storm

NetOne’s OneMoney takes market by storm

Breaking News, FinTech, Mobile Money, What's Hot
MOBILE telecommunications giant, NetOne is set to officially unveil its mobile money platform dubbed OneMoney along with its Zimswitch connected debit card this month. OneMoney, which is a correction and improvement of the OneWallet platform, is expected to shake the sector as people from different sectors have already expressed interest in the product. “As you can see, we are already issuing the debit cards and what is left only is the official launch, which I understand will be done by the end of this month,” a NetOne shop customer care representative told The StandardPeople. OneMoney is connected to most Zimbabwean banks which are already on the Zipit platform and customers enjoy the convenience of moving money from their banks to OneMoney and vice-versa. It becomes the second
WorldRemit partners with Zimbabwe Achievers Awards US and Australia for 2017 editions

WorldRemit partners with Zimbabwe Achievers Awards US and Australia for 2017 editions

FinTech, Mobile Money
Global money transfer service WorldRemit has partnered with the Australian and US chapters of the Zimbabwe Achievers Awards (ZAA) for the 2017 award ceremonies to be held in October and November, respectively. Now in its seventh year, the ZAA has grown to become the biggest platform celebrating the achievements of people of Zimbabwean heritage from across various fields of endeavour. Starting off in London, the awards have spread to other major cities across the globe with significant populations of Zimbabweans, starting with Johannesburg in 2014. Australia has become the fourth country to host the ZAA after the UK, South Africa and the US. Preparations are at an advanced stage for its inaugural awards gala dinner at the Hilton Hotel in Adelaide on Saturday 28 October. "The stage is ...
Zim’s EcoCash disables foreign payments on forex shortage

Zim’s EcoCash disables foreign payments on forex shortage

FinTech, Mobile Money, Telecomms
Harare – Zimbabwe's Econet Wireless has disabled international payments and transactions on its Mastercard-linked EcoCash mobile money debit card, citing foreign currency shortages. EcoCash has over 5 000 registered users in Zimbabwe. Cash and forex challenges are worsening by the day in Zimbabwe. The government has criticised unnecessary spending, saying foreign currency should be used for key imports such as electricity, medicine and raw materials. READ: Zim platinum forex directive will hit suppliers hard - Implats The liquidity squeeze has seen banks impose limits on Visa and Mastercard cards. Holders of these cards require approval from their banks to use them abroad. Transactions disabled Econet informed EcoCash users of the transaction policy change on Wednesday.
Cryptocurrency is the great African opportunity

Cryptocurrency is the great African opportunity

Breaking News, FinTech, What's Hot
  Cryptocurrencies are gradually being discovered in Africa. In countries like South Africa, Ghana, Kenya, Botswana, Zimbabwe and Nigeria, there is a semblance of digital currencies, primarily bitcoin, taking roots. Blockchain or DLT (distributed ledger technology) can be seen as the solution for Africa’s current problems and future growth. Bitcoin, based on blockchain, could be the engine for African growth, and could fuel the continent’s great leap forward. It is important to first define a few concepts in the field of cryptocurrency. As such, cryptocurrency itself is defined as a digital asset designed to work as a medium of exchange, using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are class
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