digital banking
Telkom Kenya is Planning a Loan Product on T-Kash
Image sourced from News24 Telkom Kenya is reportedly planning on introducing a credit product called T-Kash Loan. According to Techweez, the product has not been activated yet but the company has indicated on the T-Kash app that it is “coming soon.” T-Kash is a mobile payment solution owned by Telkom, a telecommunication provider with a presence in more than 38 African countries. The new product will be taking on Safaricom’s M-PESA, one of the leading mobile money services in Africa, which currently owns 99 percent of the market share in the country. This product will also be the first of its kind for Telkom while Safaricom offers this product in three ways through the M-PESA mobile money service, which includes Fuliza, KCB M-Pesa, and M-Shwari. It is not clear yet whether the telco will b...
HelloPay Launches Business Solution Package to Support SMEs
Image sourced from Xpatloop. HelloPay has launched a new turn-key suite of business solutions that will enable growth, save costs, and give users peace of mind that financial access is available to them when they need it. The informal sector accounts for about 18 percent of South Africa’s GDP, with over three million workers engaged in the informal economy. In addition, an estimated 2.9 million migrants reside in South Africa, many of whom struggle to access financial services in order to start small businesses like spaza shops, salons, and kiosks. That’s an incredible portion of the population that remains underserved in the financial sector, unable to access or otherwise afford the services needed to grow their businesses. Serving the underserved HelloPay’s SoftPOS offering, which w...
The Top Digital Banking Mega-Trends to Keep in Mind for 2023
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MTN Appoints New Executive for BankTech
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Over Half a Million More Customers Qualify for eBucks, FNB Says
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TymeBank Announces Coen Jonker as the Group’s CEO in SA
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MoMo PBS Limited Formally Commmences Operations in Nigeria
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Minors Won’t Get Access to Loan Services in M-Pesa Junior Accounts
Image sourced from Kansas Discovery. Safaricom, a telecommunications provider in Kenya, confirmed that minors will not get access to loan services like M-Shwari and Fuliza. The Kenyan telco announced on Friday that it is introducing M-PESA Junior Accounts for individuals between the age of 10 and 18 years old. The company said that the minors will have access to the network via SIM cards registered under their guardians or parents. “We plan to soon launch an M-PESA Junior Product for our children who may have access to mobile phones,” Safaricom CEO Peter Ndegwa said. According to Techweez, M-Pesa makes the most money for the company, hence it wants to expand the scope of its M-Pesa services. It recorded a 30.3% YoY growth to KES 107.69 billion ($926.2-million). The total M-PESA transaction...
M-PESA Rakes in $1.5-Billion Amid Kenya’s Betting Craze
Image sourced from WeeTracker Kenyans have spent Sh169.1-billion ($1.5-billion) betting through Safaricom’s M-Pesa in the year to March. According to Business Daily, disclosures show that the value of bets jumped 23.8 percent from Sh136-billion ($1.2-billion) a year earlier. The Kenyan government is trying to crack down on gambling by imposing higher taxes both on the companies and those who are gambling. People in the country continue to bet despite this and Safaricom, the Kenya Revenue Authority (KRA) and other firms are scoring big time. Safaricom’s revenue from betting rose by 40 percent to Sh5.98-billion ($50.7-million) last year, placing it higher among other firms that are listed on the Nairobi Securities Exchange (NSE). The telco company relies heavily on business lines like data a...
Capitec Bank Partners with nCino to Drive Digital Business Banking Innovation
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PayPulse Reports Almost a Million Transactions in a Year in Namibia
Image sourced from /www.thegrovemallofnamibia.com Since launching in 2018 PayPulse, Standard Bank’s cashless transaction app has gained significant traction in the Namibian market, processing just under a million transactions to the value of N$ 442 million ($29.7-million) during the period 1 January 2021 to 31 December 2021. Standard Bank, a South African bank and financial service group, developed the PayPulse app, which allows anyone, no matter who they may bank with, to create a virtual wallet from which to pay for bills and services and send or withdraw money. Rejoice Itembu Head of Client Solutions at Standard Bank says that the app is unique in that it is the first of its kind to let users link up to three different credit or debit cards from different commercial banks, which, Itembu...
Fraud Scandal: MozzartBet Fights $2.6-Million Seizure Transferred Through M-Pesa
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