Spring 21 Capstone 640pm

The Payment Systems and Services Act would help create an enabling environment for the on-going digitisation processes in the economy, Dr Ernest Addison, the Governor of the Bank of Ghana has said.

The Act, passed in March this year and assented to in May, is part of a broader strategy by the Bank of Ghana to create an enabling regulatory environment for convenient, efficient and safe retail payments and funds transfer mechanisms.

The Ghana Chamber of Telecommunications together with the Government of Ghana, Central Bank, GhIPSS and commercial banks on Thursday 10th May 2018 launched the mobile money interoperability system at the Marriot hotel in Accra. The Mobile Money Payment Interoperability is the service, which allows direct and seamless transfer of funds from one mobile money wallet to another mobile money wallet across networks, which was developed by Ghana Interbank Payment and Settlement Systems (GhIPSS) with active collaboration of the Mobile Industry.

MTN Ghana (Scancom PLC or MTNGH or the Company) delivered a strong performance for the year in a competitive industry, maintaining market leadership with 55.21% market share.

MTN Ghana is the leading provider of mobile telecommunications services in Ghana. The Company has over 17.83 million subscribers with a market share of approximately 55.09% as at December 2017. MTN Ghana, in line with its vision and mission, continues to lead the delivery of a bold new Digital World to customers and to make their lives a whole lot brighter.

AgroCenta's innovation focuses on the post harvest value chain. The suite of services within AgroCenta provides an end-to-end solution that ensures that it provides a win-win situation for the smallholder farmer and all active players in the value chain. If a smallholder farmer wants to know the latest market price of maize in the nearest market to enable him price competitively, he uses AgroInfo to request for information via SMS and Voice solutions. After the farmers has made a decision on how much to sell, the farmer's commodity information are uploaded onto the AgroTrade platform to connect him to buyers. When a trade agreement is reached between the farmer and a buyer, the farmer requests for TruckR, which is the truck delivery service component of AgroCenta, in real time using mobile phone. After the commodities are sold to the buyer, the farmer is paid via the AgroPay solution, which is the financial inclusion platform within AgroCenta

AgroCenta targets about 10 million smallholder farmers in Sub Saharan Africa within the next 5 years to help them trade fairly. Over 90% of these smallholder farmers live under $1 and are not able to make enough money from sales proceed to take care of their families and re-invest a percentage of the money raised back into their farms.

AgroCenta's value proposition lies in the advantage of providing the last mile market access for smallholder farmers in the staple food value chain through extensive collaboration with many partners who play an active role in the value chain.

Link your SnapCode to a cell phone number to receive SMS confirmation for a payment We can also integrate with a variety of POS and ecommerce solutions View your transaction history in real-time via the Merchant Portal

We have a payment solution to suit you and your customers, just display your SnapCode anywhere you want to accept mobile payments.

Give your customers a quick and easy way to pay. No need for cash, cards or time-consuming EFTs. SnapScan can be tailored to your business’ needs and is the smart, simple and safe way to get paid in a snap. From small market vendors to big businesses or online ecommerce websites, SnapScan has a convenient payment solution for you and your customers.

SnapScan lets users make payments with their phone – quickly, easily, and safely. All SnapScan-supported stores have their own unique SnapCode (which is a QR code), and customers can make a payment in-store to them by scanning the code using the camera on their phone and the SnapScan app. Additionally, SnapScan lets users send money to friends, make online payments, pay bills, buy prepaid services in the app, and earn UCount Rewards Points when making a purchase.

All SnapScan-supported stores have their own unique SnapCode (which is a QR code), and customers can make a payment in-store to them by scanning the code using the camera on their phone and the SnapScan app. Additionally, SnapScan lets users send money to friends, make online payments, pay bills, buy prepaid services in the app, and earn UCount Rewards Points when making a purchase

SnapScan is compatible with most bank cards, as well as the Standard Bank Virtual Card, and as a result is currently one of the most popular mobile payment apps in South Africa.

SnapScan - Pay using only your phone. No need to carry cash, load a wallet, worry about your card being skimmed or wait for a credit card terminal. It's the better way to buy.

Zapper is clearly less enthused and has pulled out of the Speedpoint terminals completely, which comes into effect from October 25, and CEO Brett White made it clear in a statement to Business Insider SA that the relationship hadn’t panned out well thus far:

Customers, when purchasing, simply need to scan a QR (quick response) code in store using their phones. And the customer can use any MasterCard or Visa card to sign up. Ehlers added: “We tried to design a product which allowed absolutely everybody to be part of the formal side of the economy.”

In an interview with How we made it in Africa, Ehlers explained: “A sizable part of why we built the product the way we did really relates to how the economy of South Africa functions. So to give one example, we built SnapScan so the merchant selling the products doesn’t need any special hardware at all. No point of sales system is required.” Merchants who don’t have bank accounts can redeem payments at any Standard Bank ATM or selected supermarkets.

SnapScan’s partnership with Standard Bank has allowed the company to grow faster. But Ehlers and his team are still required to adapt to the differences between the corporate and start-up worlds. He explained: “A start-up can quickly make a decision and then two hours later start implementing, whereas in a large corporation there is a process, things move a lot slower. Politics are involved and different people – and that’s not necessarily a bad thing, just the reality.”

These inconsistent experiences frustrate consumers, who see each brand as a single entity. They don’t know or care that there are different teams putting together the advertising, working in the call centre, and looking after the mobile app. They want a consistent experience from each of these touchpoints. Increasingly, they demand a seamless and connected experience that uses the mobile phone as the hub of communication. Financial firms, especially, face competitive threats from digital disruptors such as Google, PayPal, Apple, and South Africa’s Snapscan.

Unlike a multi-channel approach, mobile should not be viewed as a silo by a brand that is committed to omni-channel experiences. With a sound mobile strategy integrated into an omni-channel approach, brands can use push messages effectively within their apps to send personalised messages to customers if they have their permission.

How to Use SnapScan: 1. Download. The SnapScan app can be downloaded onto your iPhone or Android device. Open the app and link your card details (SnapScan works with any South African Bank).In less than 5 minutes, you’re good to go! 2. Order. Go to the Le Creuset website and place an order for your desired items. At checkout, select SnapScan as a payment method. This can be used in conjunction with other payment methods such as eBucks, credit card or EFT, as well as Le Creuset Gift Vouchers. 3. Snap. Open the app to scan the SnapCode displayed at checkout on the Le Creuset website. 4.Pay. Confirm payment with your 4-digit PIN

Le Creuset is proud to offer SnapScan as a convenient new payment solution. With this easy checkout option, you only have to load your card details once, when you download the SnapScan app. With your information already securely encrypted on your phone, you don’t need to enter them on the website again. And if you’re paying from your phone, it’s as easy as clicking a button!

South Africa Market Share of Key Mobile Wallet CompaniesProvides market share by key players in value terms.South Africa Market Share by Mobile Payment Technology: Provides market share by key mobile payment technologies –SMS / USSD,NFC,Code Based, andWeb Based.South Africa Mobile Proximity Payment Market Size and ForecastMobile payment and mobile wallet market size and forecast by mobile proximity payment

South Africa Mobile Retail Shopping Market Size and Forecast (2016 - 2025)Market opportunity and growth dynamics in retail shopping by mobile payment transaction value, volume and average transaction value across following segments in South Africa

South Africa has a mixed legal system. Its doctrines and concepts are influenced both by the civilian tradition (in an uncodified Romano-Dutch form brought by early Dutch settlers) and by the common law tradition (introduced during the British colonial period).  Indigenous people may still choose to be subject to customary law, so long as it does not conflict with the Constitution. Chapter 8 (ss.165-180) of the Constitution, "Courts and Administration of Justice" sets out the structure of South Africa's court system and defines the role of each court. Section 165 says the judicial authority of South Africa is vested in the courts, which are independent and subject only to the Constitution and the law. Section 166 identifies these courts as:

South Africa’s political transition is known as one of the most remarkable political feats of the past century. The ruling African National Congress (ANC) has been driving the policy agenda since 1994. In August 2016 the country held the most competitive local government election since 1994 in which the ANC-lost majority support in four of the metropolitan cities. Political parties negotiated coalition deals that saw the ANC unseated in the cities of Johannesburg, Pretoria and Nelson Mandela Bay. The latest general elections were held in May 2019.

In 2014, Standard Bank launched an innovative new app in conjunction with the start-up umbrella company FireID- SnapScan. This app allows its consumers in South Africa to pay for items via their smartphones at retailers who have registered for the app .

In 2014, Standard Bank launched an innovative new app in conjunction with the start-up umbrella company FireID- SnapScan. This app allows its consumers in South Africa to pay for items via their smartphones at retailers who have registered for the app . The idea behind this technology was to increase safety for consumers since this app allows them to leave their bank cards at home. By not having your credit card on you, the creators believe your money is safer.

For those of us who are already struggling with limited memory on our smartphones there is some consideration that needs to happen before we can commit to another app. Here are some pros and cons of SnapScan and my final verdict:

This Global Payment Gateways Market report provides the readers with detailed figures at which the Payment Gateways market was valued in the historical year and its expected growth in upcoming years. Besides, analysis also forecasts the CAGR at which the Payment Gateways industry is expected to mount and major factors driving markets growth. The global Payment Gateways market report offers users the detailed study of the market and its main aspects. There are different marketing strategies that every marketer looks up to in order to ace the competition in the Global market. There is a target set in market that every marketing strategy has to reach. Some of the important aspects analyzed in the report include market share, production, key regions, revenue rate as well as key players.

the regulator of FinTech in Ghana is the Bank of Ghana. The Act states that the Bank of Ghana shall have overall supervisory and regulatory authority in all matters relating to payment, clearing and settlement systems.

According to Section 3 of the Payment and Services Act, 2019 (Act 987), the regulator of FinTech in Ghana is the Bank of Ghana. The Act states that the Bank of Ghana shall have overall supervisory and regulatory authority in all matters relating to payment, clearing and settlement systems. As a result of the emergence of FinTech solutions, a lot of complexities have been introduced requiring the Bank of Ghana’s focus to understand and supervise FinTech activities effectively.

Purposeful effort will be required from regulators to shape the future of FinTech and push it in a productive direction in Ghana. It is hopeful that with the introduction of the FinTech and Innovation Office of the Bank of Ghana, there would be regular updates to the licensing requirements of FinTech companies that would ensure adequate compliance with international best practice and also encourage more entrepreneurs to set up FinTech companies in Ghana.