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ghtazi

Ethio-Pay Celebrates Official Launch, Finally - 1 views

addisfortune.net/...brates-official-launch-finally

ATM card Payments

shared by ghtazi on 11 Feb 21 - No Cached
  • “What makes Ethio Pay profitable is not the number of ATMs; it rather is the large numbers of users. Our concern now is to work on promoting the system for increased customer involvement,” said Bizuneh.
    • kenzabenessalah
      kenzabenessalah on 11 Feb 21
       
      The important message to take from this statement is that not all payment services are making profits. The reason is due to the switch operations.
  • After last month’s unofficial launch of Ethio-Pay, customers of other banks complained that the Bank of Abyssinia’s (BoA) ATMs did not provide service for other cards; guards of some branches unaware of the complete switch operation were seen forbidding customers from trying their cards at the ATMs.
  • The switch does not treat banks that have fewer ATMs any differently than those with larger networks in place. In fact, the system enables hosted members, banks without their own payment switches, to issue ATM cards without having to invest in a network of machines. It is also open to the integration of newcomers in the future without additional payments for letting their customers transact on other ATMs, the CEO added.
  • ...4 more annotations...
  • It is all a result of low disclosure on the system start-up. We were among the banks engaged in the pilot phase,” said Yoseph.
  • After last month’s unofficial launch of Ethio-Pay, customers of other banks complained that the Bank of Abyssinia’s (BoA) ATMs did not provide service for other cards; guards of some branches unaware of the complete switch operation were seen forbidding customers from trying their cards at the ATMs. Oddly enough, 16pc of the amount transacted took place through BoA’s Machines.
  • The belated national e-payment switch, Ethio-Pay, serving the integration of Automated Teller Machines (ATMs) and Point of Sale (POS) machines, celebrated its official launch on May 12, 2016.
    • ghtazi
      ghtazi on 13 Feb 21
       
      On May 12, 2016, Ethio-Pay, the overdue national e-payment transition for the integration of Automated Teller Machines (ATMs) and Point of Sale (POS) machines, celebrated its official launch.
  • “We have our own regulation to solve possible audit dispute between banks. We also have a system to prove the audit’s accuracy,” said Bizuneh Bekele, CEO of Eth-Switch S.C.
  • mehdi-ezzaoui on 13 Feb 21
     
    Ethiopay is an innovative solution the software installation incorporates to ensure the switch's facilitation of banking accounts, took almost a year before step four, the official opening of Ethio-Pay.
mehdi-ezzaoui

Ethio-Pay Celeb - 0 views

Ethio-Pay Celebrates Official Launch, Finally   Consumer pressure urged the last bank to join the integration line   The belated national e-payment switch, Ethio-Pay, serving the integr...

Ethippay

started by mehdi-ezzaoui on 12 Feb 21 no follow-up yet
mehdi-ezzaoui

Ethio-Pay Celeb - 0 views

Ethio-Pay Celebrates Official Launch, Finally   Consumer pressure urged the last bank to join the integration line   The belated national e-payment switch, Ethio-Pay, serving the integr...

Ethiopay

started by mehdi-ezzaoui on 12 Feb 21 no follow-up yet
samielbaqqali

'Human ATMs': M-Pesa and the expropriation of affective work in Safaricom's Kenya | Afr... - 1 views

www.cambridge.org/...6F3981007684F265530C7FEECC6813

M-Pesa Fintech ATM

shared by samielbaqqali on 12 Feb 21 - No Cached
  • This article explores the austere labour regime of Safaricom – Kenya's largest telecommunications firm and financial services provider – from the perspective of the women and men who work as ‘human ATMs’ for Safaricom's breakout service, M-Pesa. Far from women and men simply acting as ATMs, I argue that the affective and social labour of these people working at sites across the country constitutes a form of maintenance work that, while essentially free in Safaricom's accounts, critically underwrites the success of M-Pesa and Safaricom.
  • I argue that the work of ‘human ATMs’ constitutes both the ‘front story’ and the ‘backstory’ of contemporary modes of accumulation unfolding in Kenya. Their labour is formally exploited while broader forms of work required to build and maintain the social and material networks on which Safaricom depends are expropriated, forming the basis of new frontiers of accumulation. This process is mirrored in Safaricom's contemporary business strategy, which is premised on enclosing people's everyday habits and social networks in their digital forms as sites of innovation and market-making.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      M-Pesa has targeted people in need and solved their problems, which I believe is the aim of digitalization. Because of that, M-Pesa was successful.
  • hichamachir on 12 Feb 21
     
    M-Pesa targeted people in need and solved their problems which is the aim of digitalization in my opinion. M-Pesa got successful because of that!
ghtazi

Ethiopia: Ethio Pay to Push Visa Cards Out | MFW4A - Making Finance Work for Africa - 2 views

www.mfw4a.org/...-ethio-pay-push-visa-cards-out

VISA card ATM

shared by ghtazi on 11 Feb 21 - No Cached
  • The utilisation of Ethio Pay branded electronic cards will harness the hard currency payment to foreign companies, according to the company's management.
    • kenzabenessalah
      kenzabenessalah on 11 Feb 21
       
      This excerpt is important because EthioPay cards are being implemented more and more in commercial banks and are controlling the different payments to foreigners.
  • Currently, over six million people are using ATM Visa cards. Founded in 2011, with a capital of 80 million Br, Eth-Switch facilitated transactions worth 2.9 billion Br in the past fiscal year.
  • The utilisation of Ethio Pay branded electronic cards will harness the hard currency payment to foreign companies, according to the company's management.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this article shows that ethiopay is taking control not only of inter-banks and companies but foreign ones too.
  • ...2 more annotations...
  • Eth Switch, established by the 17 commercial banks to integrate Automated Teller Machines (ATMs) and Point of Sale (PoS), has already implemented Ethio Pay cards in five commercial banks so far, whereas the remaining are still use visa cards. Until now, the banks have been paying a lot of money for using the trademark of the VISA cards.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it explains how 17 commercial banks decided to integrate Ethiopay electronic cards in all the banks of the country, at the expense of VISA cards which have been dominating the market thus far.
  • Eth Switch S.C, the consortium of private banks, is to implement electronic cards belonging to the same brand- Ethio Pay, in all the banks of the country. Eth Switch, established by the 17 commercial banks to integrate Automated Teller Machines (ATMs) and Point of Sale (PoS), has already implemented Ethio Pay cards in five commercial banks so far, whereas the remaining are still use visa cards. Until now, the banks have been paying a lot of money for using the trademark of the VISA cards. The utilisation of Ethio Pay branded electronic cards will harness the hard currency payment to foreign companies, according to the company's management. Currently, over six million people are using ATM Visa cards. Founded in 2011, with a capital of 80 million Br, Eth-Switch facilitated transactions worth 2.9 billion Br in the past fiscal year. Source: All Africa
    • ghtazi
      ghtazi on 13 Feb 21
       
      this is important because it shows us that there are 5 commercial banks that have implemented Ethiopay cards so far.
  • mehdi-ezzaoui on 13 Feb 21
     
    Using Ethio Pay branded electronic wallets, according to management, the business can use hard currency transfers to international companies and could push VISA out
mbellakbail69

BISA-Cashless-case-study.pdf - 0 views

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • When it initially started, vendors would receive a voucher and redeem it at certain ATMs and received a pin code with that voucher. That became a bit of a problem as some vendors could not read and did not know how to operate the ATM machine so that was phased out. Vendors then had to bring a bank statement for their SnapScan accounts to be linked to their bank accounts. Those vendors who did not have a bank account had to collect their cash every second week. Problems did occur where customers paid short and vendors complained that the right amounts are not in or the money has been withdrawn but there was always a problem and results would show that the money was drawn. All issues were always resolved by SnapScan. And it became a pain with vendors not collecting their money on time and when they don’t keep the proof of their payments on their phones. Hence, I always have to liaise with SnapScan staff. Vendors getting their payments in their bank account is so much better.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      Re-registration of suppliers and the change of telephone numbers is issue because their phones are often stolen because of the insecure atmosphere in which they work. Snapscan then offers the supplier to collect the cash by entering the code and PIN into a normal cash machine and giving it the money without a bank account. Some vendors are connected to their own SnapScan account, and those with no bank accounts receive cash every second week.
  • When it initially started, vendors would receive a voucher and redeem it at certain ATMs and received a pin code with that voucher. That became a bit of a problem as some vendors could not read and did not know how to operate the ATM machine so that was phased out. Vendors then had to bring a bank statement for their SnapScan accounts to be linked to their bank accounts. Those vendors who did not have a bank account had to collect their cash every second week. Problems did occur where customers paid short and vendors complained that the right amounts are not in or the money has been withdrawn but there was always a problem and results would show that the money was drawn. All issues were always resolved by SnapScan. And it became a pain with vendors not collecting their money on time and when they don’t keep the proof of their payments on their phones. Hence, I always have to liaise with SnapScan staff. Vendors getting their payments in their bank account is so much better.
kenza_abdelhaq

Challenges and opportunities of ethioPay ATM service - 2 views

etd.aau.edu.et/...12583

Ethiopay Ethiopia Payments Service

shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • Irrespective of its importance to the customers and financial system, ethioPay interbank service is operating inefficiently. Since there are no studies conducted on this topic especially on ethioPay, this study has been conducted with an objective of identifying challenges and opportunities of ethioPay ATM from perspectives of interconnected banks and supervisors.
  • The study identified challenges such as inappropriate ATM location, low level of customer awareness, inefficient ATM management by the banks, frequent network failure, low level of interest and skills of the banks to use the service.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Some of the challenges identified at the level of the EthioPay interbank service that is operating inefficiently.
  • mehdi-ezzaoui on 13 Feb 21
     
    this article is well written it talks about the challenges that Ethio pay face and the opportunities to grow
kenza_abdelhaq

EthioPay Mojaloop Case Study - DFS Lab - 1 views

dfslab.net/ethiopay-mojaloop-case-study

Ethiopay Ethiopia Payments Service

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • EthioPay wanted to continue adding value for the Ethiopian banking sector through additional services and products. They wanted to add a number of different switch use cases (e.g. merchants, CICO, etc) to their ATM switch.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      This is probably an efficient and scalable way to easily interconnect the different services in the ethiopian banking sector
  • They conducted a technical evaluation of the Mojaloop platform. While Mojaloop seemed to provide the required functionality, for a live deployment it lacked definition around auxiliary requirements to move into production.
  • EthioPay wanted to continue adding value for the Ethiopian banking sector through additional services and products. They wanted to add a number of different switch use cases (e.g. merchants, CICO, etc) to their ATM switch.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt is important because nowadays the development of companies for consumer products allows the huge opportunity for the expansion of electronic payments because it is assumed that consumers of electronic payments are indeed end-users and also that the majority of payouts are Customers to Business. Expanding enterprises also provide opportunities for big potential Business to Business payments.
  • ...2 more annotations...
  • What they want EthioPay wanted to continue adding value for the Ethiopian banking sector through additional services and products. They wanted to add a number of different switch use cases (e.g. merchants, CICO, etc) to their ATM switch. What they built They conducted a technical evaluation of the Mojaloop platform. While Mojaloop seemed to provide the required functionality, for a live deployment it lacked definition around auxiliary requirements to move into production. How Mojaloop helps With over 40 million phone subscribers and most banks having their own mobile banking system in Ethiopia, there is no mobile based inter-bank fund transfer. Mojaloop is potentially an efficient and scalable way to easily interconnect these disparate services.
    • ghtazi
      ghtazi on 13 Feb 21
       
      in this excerpt, we can see that Ethiopay wants to add value to the baking sector by adding new products and services. they also do a technical evaluation of the Mojaloop platform, which is the one that provides the required functionalities to the production. Last but not least it shows us that There is no mobile-based inter-bank fund transfer for 40 million telephone subscribers and most banks in Ethiopia have their own mobile banking system.
  • EthioPay (ETS) is owned by a consortium of Ethiopian banks and operates a central switching platform for ATMs throughout the country.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Ethiopay wanted to expand its services by implementing the platform Mojaloop which will interconnect disparate services.
kaoutarchennoufi

About Us - Fawry - 1 views

fawry.com/aboutus

Fawry Own-patent InternationalStandards Security

shared by kaoutarchennoufi on 10 Feb 21 - No Cached
  • Fawry offers a convenient and reliable way to pay bills and other services  in multiple channels (online, using ATMs , mobile wallets and retail points)Fawry’s network of retailers includes small groceries, pharmacies and stationaries, and post-offices, all equipped with point-of-sale machines – the same ones used for credit card payments.
    • ghtazi
      ghtazi on 10 Feb 21
       
      Fawry that is the only technology company on The Egyptian Exchange currently offers over 250 electronic payment services through its network of over 105,000 service points across 300 cities in Egypt - that include ATMs, mobile wallets, retail shops, post offices, and little vendor kiosks
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Fawry offers a variety of services from groceries, to pharmacies, to banking, etc. It's a platform that contains many services to facilitate operations.
  • Based on its own-patented technology, that is fully compliant with international security standards of the ISA 27001 and PA DSS certifications, Fawry performs more than 3 million financial operations daily.Fawry services for businesses include collection services, customer acquisition, electronic cash, payment facilitation, and business-to-business collection centers.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Fawry is a very powerful Egyptian Digital Transformation and E-payments platform thanks to its diverse services provided and its high performance that reaches 3 million financial operations daily. The impressive thing is that it has its own patent that respects the international security standards.
  • Fawry is the Leading Egyptian Digital Transformation & E-Payments Platform, offering financial services to consumers and businesses through more than 194,000 locations and a variety of channels.Fawry offers a convenient and reliable way to pay bills and other services  in multiple channels (online, using ATMs , mobile wallets and retail points)Fawry’s network of retailers includes small groceries, pharmacies and stationaries, and post-offices, all equipped with point-of-sale machines – the same ones used for credit card payments.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Fawry is the largest e-payments platform in Egypt. It proposes all financial services important for the daily life of citizens which makes paying bills and others easier.
  • ...2 more annotations...
  • About Us - Fawry
  • Fawry is the Leading Egyptian Digital Transformation & E-Payments Platform, offering financial services to consumers and businesses through more than 194,000 locations and a variety of channels.
    • mehdibella
      mehdibella on 13 Feb 21
       
      Fawry offers a convenient and reliable way to pay bills and other services in multiple channels (online, using ATMs , mobile wallets and retail points)
kenza_abdelhaq

Ethiopay - EthSwitch S.C - 2 views

ethswitch.com/ethiopay

FinTech E-payments Ethiopia

shared by kenza_abdelhaq on 11 Feb 21 - No Cached
  • Ethiopay is a four-party scheme, in which the issuer and acquirer are different entities, and is open for all payment institutions to join and issue their own cards. There are no limitations as to who may join the scheme, as long as the requirements of the scheme are met.Ethiopay Card schemes enables a simplified and guaranteed exchange of money between merchants, customers and their banks, by operating national & international networks and setting uniform standards.More specifically, Ethiopay defines rules for the routing of payment authorizations and settlement requests in point-of-sale and e-commerce transactions between merchant acquirers and card issuers, as well as ATM withdrawals or purchases with cashback transactions.
    • kenzabenessalah
      kenzabenessalah on 11 Feb 21
       
      Eventhough EthioPay has no limitations when it comes to who joins the scheme, it has certain payment authorizations which prevent risks.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it presents the Ethiopay Card, a core product of the Ethiopay company. Through the Ethiopay card, Ethiopay attempts to circumvent risks by setting setting standards and payment authorizations.
  • Ethswitch is the owner of Ethiopay-Ethiopia’s domestic Card Scheme. Ethiopay is developed for all banks in Ethiopia to issue and acquire payment cards.
  • Ethiopay is a four-party scheme, in which the issuer and acquirer are different entities, and is open for all payment institutions to join and issue their own cards. There are no limitations as to who may join the scheme, as long as the requirements of the scheme are met.Ethiopay Card schemes enables a simplified and guaranteed exchange of money between merchants, customers and their banks, by operating national & international networks and setting uniform standards.More specifically, Ethiopay defines rules for the routing of payment authorizations and settlement requests in point-of-sale and e-commerce transactions between merchant acquirers and card issuers, as well as ATM withdrawals or purchases with cashback transactions.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      it shows services that ethiopay is offering to customers and some authorisation to prevent risks
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Êthiopay is using a scheme that enables the routing of payment authorizations and processing by operating both nationally and internationally.
  • ...1 more annotation...
  • Ethiopay Card schemes enables a simplified and guaranteed exchange of money between merchants, customers and their banks, by operating national & international networks and setting uniform standards.More specifically, Ethiopay defines rules for the routing of payment authorizations and settlement requests in point-of-sale and e-commerce transactions between merchant acquirers and card issuers, as well as ATM withdrawals or purchases with cashback transactions.
    • ghtazi
      ghtazi on 13 Feb 21
       
      this important to know because we can see how ethiopay card schemes simplify and guaranteed and exchange of money between Marchand, customers, and their banks. because there are no limitations in who may join the scheme it can represent some risks for the parties envolved.
mehdibella

Egypt's Fawry is now a billion-dollar company - 1 views

www.menabytes.com/fawry-billion-dollar

Kiva kenya Nairobi Fintech finance

shared by mehdibella on 12 Feb 21 - No Cached
  • Fawry had witnessed a surge in its stock price during the first two months after its public markets debut but the price afterward remained almost flat until March – when they also saw it drop to one of its lowest points of EGP 7 per share. But since then, it has been on an upward trajectory – which also coincides with Covid-19.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      the pandemic has created a surge in demand for electronic payment services and Fawry being the leading player in Egypt benefitted a lot from that.
  • Fawry that is the only technology company on The Egyptian Exchange currently offers over 250 electronic payment services through its network of over 105,000 service points across 300 cities in Egypt – that include ATMs, mobile wallets, retail shops, post offices, and little vendor kiosks.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Fawry has a large network of service points and diversified services spread out in different cities in Egypt.
  • The pandemic has created a surge in demand for electronic payment services and Fawry being the leading player in Egypt obviously has benefitted a lot from that – which is also evident from company’s just-announced financials for the second quarter.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      The demand for electronic payment services mainly provided by Fawry in Egypt increased in the context of the pandemic.
  • ...7 more annotations...
  • Share7KTweetShareWhatsAppEmail7K SharesEgyptian electronic payments company Fawry now has a market cap of over $1 billion. It achieved the feat during the intraday trading, with its share price rising to EGP 22.69 which gives it a market cap of EGP 16 billion or $1 billion (for the first time). With this, Fawry has become the first technology company in Egypt to get to the billion-dollar valuation.
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      It's important to keep in mind that Fawry started out small and then became the first technology company in Egypt to get a market cap of $1 billion.
  • Egyptian electronic payments company Fawry now has a market cap of over $1 billion. It achieved the feat during the intraday trading, with its share price rising to EGP 22.69 which gives it a market cap of EGP 16 billion or $1 billion (for the first time). With this, Fawry has become the first technology company in Egypt to get to the billion-dollar valuation.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      This achievement was partly, or mainly, due to the Covid-19 pandemic that pushed many people to place a high demand on Fawry's many e-payment solutions and services.
  • Its revenue for the first half of 2020 has increased by 47 percent (year-on-year) to EGP 549.26 million ($34.41 million) from EGP 373.33 million ($23.38 million) for the same period of 2019. The net profit of the company in H1 2020 has increased by over 135 percent YoY to EGP 85.9 million ($5.38 million) from EGP 36.47 million ($2.29) in H1 2019.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Fawry leads the Fintech Egyptian Market, its stock price has increased, and its revenue has increased as well in 2020.
  • Its stock price has increased by over 300 percent since its debut at The Egyptian Exchange in August last year. It had gone public with its shares priced at EGP 6.46 (per share).
  • Egypt's Fawry is now a billion-dollar company
  • Its stock price has increased by over 300 percent since its debut at The Egyptian Exchange in August last year. It had gone public with its shares priced at EGP 6.46 (per share).
    • mehdibella
      mehdibella on 13 Feb 21
       
      Fawry had witnessed a surge in its stock price during the first two months after its public markets debut but the price afterward remained almost flat until March -
  • Its revenue for the first half of 2020 has increased by 47 percent (year-on-year) to EGP 549.26 million ($34.41 million) from EGP 373.33 million ($23.38 million) for the same period of 2019. The net profit of the company in H1 2020 has increased by over 135 percent YoY to EGP 85.9 million ($5.38 million) from EGP 36.47 million ($2.29) in H1 2019.
    • mehdibella
      mehdibella on 13 Feb 21
       
      The pandemic has created a surge in demand for electronic payment services and Fawry being the leading player in Egypt obviously has benefitted a lot from that - which is also evident from company's just-announced financials for the second quarter
  • kenza_abdelhaq on 13 Feb 21
     
    "Fawry that is the only technology company on The Egyptian Exchange currently offers over 250 electronic payment services through its network of over 105,000 service points across 300 cities in Egypt - that include ATMs, mobile wallets, retail shops, post offices, and little vendor kiosks."
  • mehdi-ezzaoui on 13 Feb 21
     
    Fawry that is the only technology company on The Egyptian Exchange currently offers over 250 electronic payment services through its network of over 105,000 service points across 300 cities in Egypt - that include ATMs, mobile wallets, retail shops, post offices, and little vendor kiosks.
nouhaila_zaki

Paga - an Unreasonable company - 0 views

unreasonablegroup.com/...paga

Paga Nigeria Overview Company Size

shared by nouhaila_zaki on 13 Feb 21 - No Cached
  • Leading application to send and receive payments in Nigeria, with more than 8.4 million users. Founded in 2009 with the simple belief that technology can transform lives by delivering universal access to financial services, Paga is now the top mobile payment service in Nigeria, used by more than 12 million individual users, while employing nearly 22,000 Paga agents. Anyone with a mobile phone can send money to the recipient's mobile phone number which can then be collected either through a Paga agent or an ATM without the use of a card. Paga can also be used for airtime credits, bill payments, and retail. The company is constantly evolving to bridge the gap between commerce, financial services, and economic development within Nigeria's emerging economy.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Paga is now Nigeria's top mobile payment service, and it is used by more than 12 million individuals, while approximately 22,000 Paga agents are working. everyone can use it if they have a mobile phone. users can transfer money to the mobile phone number of the recipient, which can then be collected without using a card, either through a Paga agent or an ATM. Paga can also be used for airtime credits, retail, and bill payments.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is a great introduction to what Paga does, how many users it has, and what it can be used for. A great overview of the company.
  • COMPANY SIZE 101–200
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      Knowing the company size allows us to assess the capabilities and resources available to Paga, which can prove to be very useful when analyzing corporate strategies and developing new ones for Paga.
nouhaila_zaki

A Global Success from Kenya - Banking - Credit Suisse - 0 views

web.archive.org/...global-success-from-kenya.html

M-Pesa Kenya Story Scope

shared by nouhaila_zaki on 13 Feb 21 - No Cached
  • It is no exaggeration to say that Kenya's economy depends on M-Pesa. According to the Central Bank of Kenya, the value of all transactions between June 2013 and June 2014 represented 39 percent of the country's GDP. M-Pesa moves more than one billion Swiss francs per year, and in fiscal year 2014 it earned the parent company 268 million francs, an increase of 21.6 percent over the previous year.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it highlights the role of M-Pesa as the backbone of the Kenyan economy, without which it may collapse.
  • It all started eight years ago – because of the family members who stayed home. As in most countries in sub-Saharan Africa, most of Kenya's population are farmers who live on the land. Young people in search of an education and jobs are drawn to the cities. If those earning money in the city wanted to support their parents financially, they long had to rely on uncertain and risky methods. They could send cash with a neighbor or a bus driver who happened to be driving through their village. Or they could send a postal money order, but that could take weeks, often failed to arrive, and in any case was possible only if the recipient had a post office box. This was about as unlikely as having a bank account.At the time, in 2007, several million Kenyans owned a cell phone with a Safaricom number. Then this phone number essentially became a virtual bank account number. Starting in March of that year, Safaricom customers could upload money to their cell phone and send it to other Safaricom customers. It arrived within minutes, and the recipient was informed with a text message. The money could be forwarded or received as cash from an M-Pesa agent.Two weeks after introducing the service, Safaricom had nearly 20,000 active M-Pesa users. After seven months, there were one million. Today,  20 million customers in Kenya are registered. More than 83,000 agents in cities and rural areas assist customers in uploading, sending and receiving money. Rural Kenyans with no banking options leaped from the agricultural age straight into the digital tomorrow.And transferring money from one cell phone to another was only the start. Today, users can pay their electricity and water bills, get cash from an ATM, buy airline tickets, add phone time, buy concert tickets, pay the taxi driver or butcher and take out a small loan, perhaps to purchase a solar panel that brings electricity to their home for the first time. 
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is excellent at narrating how the idea of M-Pesa came to be. Indeed, the founders observed that when young people living in cities wanted to financially support their parents who are still in the countryside, they had to rely on risky and lengthy methods. Also, the founders observed that several million Kenyans owned a cellphone with a Safaricom number. Hence, they decided that this phone number would become a virtual bank account number to which Safaricom customers could upload money and send it to other Safaricom customers. Today, transferring money is not the only thing M-Pesa provides, since user can now pay their electricity and water bills, retrieve cash from ATMs, buy airline tickets, add phone time, buy concert tickets, pay taxi drivers or butchers or take loans, or even purchase a solar panel to bring electricity at home for the first time.
sawsanenn

Frontiers | FinTech: A New Hedge for a Financial Re-intermediation. Strategy and Risk P... - 0 views

www.frontiersin.org/...full

FinTech Financial inclusion Strategies

shared by sawsanenn on 13 Feb 21 - No Cached
  • FinTechs and the Value Chains in the Financial IndustryIt is beneficial to remember how things worked before and after FinTechs and TechFins or big techs in the financial industry.Banking models are shifting significantly from a pipeline, vertical, paradigm, to modular solutions that pave the way to new banking paradigms that entail higher levels of openness toward third parties and a growing number of modular services bundled together.Value is created in platforms through economies of scope in production and innovation (Gawer, 2014). In order for platforms to work, adoption and network effects are essential. Models can go to mere compliance with the prescriptions of openness of PSD2, to the inclusion of new services, the opening of the banking core and data, and the aggregation of those within a platform experience. In particular, we assist both to the evolution of a Bank-as-a-Platform model and a tech-platform-driven model supporting banking and financial intermediation, which both constitute a new interesting field of analysis.Since the wave of digital transformation started entering the financial industr
  • , banking-as-a-business has started moving from a product/service perspective to more contextual solutions where providers are customer needs-driven. This is because customer-driven companies outperform the shareholder-driven ones, and this requires an outside-in approach.Having said that, it is beneficial to remember that digital transformation implies four main categories of innovation (product, process, organizational and business model) (Omarini, 2019, p. 340); all of them require rediscovering that a new strategy paradigm exists. This regards the concept of co-creation, and because of this no single firm can unilaterally carry out a process of continuous experimentation, risk reduction, time compression, and minimizing investment while maximizing market impact. Co-creation requires access to resources from extended networks (suppliers, partners, and consumer communities).Under these new market conditions, FinTechs have become an important piece of a bigger puzzle, each one in its own area of business (payment, lending, etc.), while at the beg
  • inning most of them started as mono-business companies. Only a few of them may become leaders in the market. On the one hand, there are those that make their strategy become international, and on the other, there are FinTechs which enlarge their services-scopes. However, the majority of them will become part of ecosystems where the direction could swing from banks to tech companies or to FinTechs as well, able to manage the network by developing kinds of conglomerate-as-a-service.Another interesting point to outline regards this recent period where all of us have experienced lockdowns around the world, and some effects have also impacted FinTechs as well. The valuations of most unicorns have crashed overnight, while on the FinTechs side there are different situations. Some of them have experienced a dramatic reduction in their
  • ...6 more annotations...
  • strategy development process, especially when the various units and individuals in the network must collectively execute that strategy. The key issue is this: balancing act between collaborating and competing is delicate and crucial” (Prahalad and Ramaswamy, 2004, p. 197).If co-creation is fundamental to the industry, this needs to leverage on a wider customer perspective that requires introducing the idea of developing ecosystems where the customer is truly free to move and choose the best deal in more competitive markets able to let consumers' ability to make informed decisions against any possible market concentrations among market providers.A business ecosystem (Moore, 1996) reflects the new paradigm of competition in a better way. Traditional management models aimed at gaining competitive advantage, such as vertical or horizontal integration, economies of scale and scope, are not effective anymore. The value of today's companies is determined by the size of its ecosystem (Tewari, 2014). Business ecosystems consist in crossovers of a variety of industries, of which companies cooperate and embrace open innovation to satisfy new customers' needs an
    • samiatazi
      samiatazi on 13 Feb 21
       
      Digital transformation implies four main categories of innovation: product, process, organizational and business model. FinTechs have become a significant piece of a greater riddle, every one in its own zone of business. The victors are those that have sufficient liquidity and money to purchase great innovation. This is particularly valid for installments that will be progressively contactless. Individuals costs and per-client commitment edge are key elements, and important markers. The more wellsprings of incomes an organization holds, the better it is for it to be a FinTech.
  • evaluation, others were quite lucky and suffered less.There are many and different feelings on the way FinTechs will exit this situation, which as far as we understand has overall accelerated some strategic choices.First of all, there are many and different FinTechs in the market. What is critical is to look at the fundamentals of the business. All of them are about answering what society is going to look like in the future (attitudes, behaviors, habits, etc.), so that if we no longer need to go to retail stores anymore, why do we need some services based on this situation? This, again, underlines that banking is a people business (Omarini, 2015) and this requires a business to be resilient to become adaptive to consumer changes or moves into a different market where you can still apply the service because the society is not yet ready to shift somewhere else, which means the same business in different markets. Just think of the ongoing situation where the recent wave of people is rethinking and restructuring their finances, so that they have decided to switch rates to digital banks. In this scenario, the winners are those that have enough liquidity—or better still cash-rich—to buy good technology and invest in new directions, also taking the opportunity to use the pandemic to its advantage. This is especially true for payments that are going to be increasingly contactless. However, some more les
  • sons can be learnt from difficult times especially due to external factors such as the following:- People costs and per-customer contribution margin are key factors, and valuable indicators. They are valuable for incumbents too. When staff costs rise, then this becomes a burden if growth is not going to move on. Then, if we move on the per-customer contribution margin (revenue, minus variable costs including credit losses), then this makes a FinTech earn more money per bank account than the cost of running those bank accounts.- One more point has to do with the way a FinTech makes its revenues per customer, and net income is the figure to look out for here. This means that the more sources of revenues a company holds, the better it is for it. If we think of some of the best-known FinTechs, they gather their net income from interchange fees, ATM withdrawals, which can diminish during the pandemic, but gathering revenues from other sources such as lending, investing, or again from referring customers to third-party services, and earning commissions from these referrals.Under this oncoming market structure configuration, a focus on control and ownership of resources is giving way to the importance of accessing and leveraging resources through unique ways of collaboration. “The co-creation process also challenges the assumption that only the firm's aspirations matter. (…) Every participant in the experience network collaborates in value creation and competes in value extraction. This result in constant tension in the
  • One more point has to do with the way a FinTech makes its revenues per customer, and net income is the figure to look out for here. This means that the more sources of revenues a company holds, the better it is for it. If we think of some of the best-known FinTechs, they gather their net income from interchange fees, ATM withdrawals, which can diminish during the pandemic, but gathering revenues from other sources such as lending, investing, or again from referring customers to third-party services, and earning commissions from these referrals.
    • hichamachir
      hichamachir on 13 Feb 21
       
      Pula can benefit so much from expanding its revenues streams. It lets the customers use the product or service in different ways which can't make them feel lazy to use a specific way.
  • The emergence of new technologies and players, along with a favorable regulatory framework (PSD2 Directive), is changing the banking industry. FinTechs and TechFins have allowed the introduction of new services and changed the way customers interact to satisfy their financial needs. The FinTech landscape is constantly evolving in the market. Different business value propositions are entering the financial services industry, moving from increasing the user's experience to developing a time to market framework for banks to innovate products, processes, and channels, increasing the cost efficiency and looking for a “partnering on order” to lighten the regulatory burdens for banks. The many businesses of banks are changing their value chains, and banks' business models should do the same accordingly. Strategists could no longer take their value chains as a given; choices have to be made on what needs to be protected and maintained, what abandoned and the new on coming to make banks evolve and become more resilient in doing their job. Banking is shifting significantly from a pipeline, vertical paradigm, to open banking business models where open innovation, modularity, and ecosystem-based bank's business model may become the ongoing mainstream and paradigm to follow and develop. Opportunities and threats for banks are many and new ones to re-gaining their role in the market throughout a re-intermediation process.
    • ghtazi
      ghtazi on 13 Feb 21
       
      FinTechs and TechFins have enabled new services to be launched and changed the way clients communicate to meet their financial needs. In the industry, the FinTech landscape is continuously changing.
  • They have brought to the traditional banking industry a wave of competition and broken pipeline value chains, unbundling them into different modules of products or services, which may be combined among themselves. These companies on the one hand and the BigTechs (Google, Facebook, Apple, Samsung, Alibaba, etc.) on the other have been forcing the industry to change, transform, and evolve in a set of new financial intermediation directions. Use of data and customer experience are both FinTechs' major assets and threats as well. On the one hand, they please the customers as individuals and introduce the paradigm of contextual banking. On the other, the two selling points are threatening both the incumbent players and regulators in different ways. For banks, it is even more urgent to react actively because their “no fee zone” is expanding, due to new regulations from the Consumer Financial Protection Bureaus (CFPB) and similar entities in different countries.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      Since the digitalization wave entered the banking industry, financial institutions has begun to move from a product/service standpoint to more semantic alternatives where suppliers are pushed by customer needs. This is because the customer-driven firms outclass the investor ones, and this necessitates an outside strategy.
mehdibella

mobile money made easy by new South African startup | Time - 4 views

time.com/...ricas-new-painless-payment-app

Fintech finance SouthAfrica snapscan

shared by mehdibella on 11 Feb 21 - No Cached
  • A free app available for any smartphone, SnapScan works almost like a pocket ATM linked to the user’s debit or credit card account. Instead of handing over a card, customers scan a unique SnapScan logo posted at the cash register with their camera-enabled phone. They enter the amount, type in a pin code (or use touch ID) and a few seconds later the vendor’s phone chimes with a confirmation sent by SMS. It’s quick, painless, and entirely safe, says Ehlers. SnapScan is backed by Standard Bank, one of South Africa’s biggest banks, and uses cutting-edge fraud protection technology. More to the point, he notes, it means that vendors never have access to actual credit card details. “That means no one is noting down your number so he can go shopping later,” says Ehlers.
  • It’s been so long since 30-year-old Cape Town entrepreneur Kobus Ehlers last used his wallet that he’s not even sure where it is. “My car maybe?” he says as he reflexively scans the cheerfully decorated offices of his startup, SnapScan. When it’s pointed out that leaving a wallet in a car in a city infamous for break-ins and carjackings may not be a good idea, he shrugs. He probably doesn’t even have the equivalent of five dollars in it, he says. “I never use cash. Credit cards are over. There are much better ways to pay for things.”As the co-founder of one of South Africa’s most successful electronic payments apps, Ehlers is of course expected to use his own product. But the real reason he isn’t worried about his wallet is because Cape Town is a city seduced by the idea of cashless and cardless transactions, in no small part because of his company’s success. “You can literally wake up in the morning, buy a cup of coffee, go to your dentist, have lunch, pay your bills, take a taxi, go out for dinner, and donate to your favorite cause without using cash or a card,” says Ehlers. “And in none of that is there any risk of your card details getting stolen, or you getting mugged for your cash.”
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      SnapScan is an example of Fintech's performance. I assume, however, that these kinds of creative companies need to be sponsored by strong organizations. SnapScan is backed by Standard bank and this bank is powerful financial institution in South Africa. So I think that in order to develop their offerings, Fintechs should use the financial power of banks.
  • It’s been so long since 30-year-old Cape Town entrepreneur Kobus Ehlers last used his wallet that he’s not even sure where it is. “My car maybe?” he says as he reflexively scans the cheerfully decorated offices of his startup, SnapScan. When it’s pointed out that leaving a wallet in a car in a city infamous for break-ins and carjackings may not be a good idea, he shrugs. He probably doesn’t even have the equivalent of five dollars in it, he says. “I never use cash. Credit cards are over. There are much better ways to pay for things.”As the co-founder of one of South Africa’s most successful electronic payments apps, Ehlers is of course expected to use his own product. But the real reason he isn’t worried about his wallet is because Cape Town is a city seduced by the idea of cashless and cardless transactions, in no small part because of his company’s success. “You can literally wake up in the morning, buy a cup of coffee, go to your dentist, have lunch, pay your bills, take a taxi, go out for dinner, and donate to your favorite cause without using cash or a card,” says Ehlers. “And in none of that is there any risk of your card details getting stolen, or you getting mugged for your cash.”
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  • SnapScan may make mobile payments easy for users, says Ehlers, but the reason why the company has been so successful in South Africa is that it makes processing the payments easy—and cheap—for sellers. With traditional credit card systems, and even Apple Pay, vendors have to buy expensive equipment to process the payments—something small businesses can rarely afford. But SnapScan only requires an upfront investment of the less than five cents it costs to print out their Quick Response [QR] Code, a square, camera-readable version of a traditional bar code that resembles a mosaic tile, and tape it to the cash register. “If someone wants to buy from you and you don’t have a credit card machine, and the person doesn’t have cash, our payment system is the difference between closing the sale and not closing the sale,” says Ehlers. Registration is free, and the company charges retailers an average fee of three percent, on par with most credit card companies.
    • samiatazi
      samiatazi on 13 Feb 21
       
      Snapscan is very useful for Startups and vendors willing to switch and rely on the digital transformation due to both its low cost and effectiveness. additionally, the platform is practical for cashless consumers.
  • It was that question, of how to bring small businesses that couldn’t afford traditional credit processing facilities into an increasingly cashless environment that inspired Ehlers and his co-founders to develop SnapScan. Like many Cape Townians, Ehlers was a fan of the Big Issue, a South African spinoff of a British charity that prints high quality magazines for homeless men and women to sell at a profit in order to work their way off the streets. Most of the vendors ply traffic backed up at intersections for sales. But because of the risk of carjackings, which have nearly doubled in the greater Cape Town area over the past two years, to 1530 reported incidents, few motorists keep cash on hand. “People stopped buying the magazines,” says Ehlers. “A Big Issue vendor comes up and says ‘do you want to buy a magazine,’ and you say ‘I do, but I don’t have cash with me.’ That was a problem we realized we could solve very easily.”
    • samiatazi
      samiatazi on 13 Feb 21
       
      I, personally, think that the best business ideas are the ones solving current issues faced by customers because it would be easier to promote and sell a product to an already existing market. This article points out that the business idea of Snapscan arrised from a simple discussion between a magazine seller and a cashless buyer, now it is one of the biggest Fintechs in Africa. indeed, We should believe in our potential to change others' life.
  • SnapScan customers don’t have to worry about sending their credit card details to online vendors that may not have the latest fraud protection. They just scan the QR code at the virtual checkout like they would in the real world.
  • As a result, SnapScan has been adopted by about 12,000 small and medium businesses in more than 17,000 outlets across South Africa.
  • SnapScan has 150,000 registered users, and processes hundreds of thousands of dollars in payments every day for everything from airline tickets to handcrafted wicker baskets at roadside curio stalls.
    • mehdibella
      mehdibella on 13 Feb 21
       
      I am very proud to hear that the African continent is not only following the mobile payments trend and development, but it is also joining as a leader in the space !
  • A free app available for any smartphone, SnapScan works almost like a pocket ATM linked to the user’s debit or credit card account. Instead of handing over a card, customers scan a unique SnapScan logo posted at the cash register with their camera-enabled phone.
  • SnapScan may make mobile payments easy for users, says Ehlers, but the reason why the company has been so successful in South Africa is that it makes processing the payments easy—and cheap—for sellers.
  • For all the talk of a new cashless society ushered in by the likes of Apple Pay in the United States, it’s going to be a while before a swipe of a phone will buy a meal in most cities. But in Cape Town, it’s already happening. I’ve used my phone to pay for parking, cover a medical bill, order take out, buy groceries at my local farmers market and give money to the homeless woman selling the South African version of Street News at the traffic light. Churchgoers use their phones for donations. My facialist just informed me that I could pay for Botox treatments with SnapScan. I’ll take that as her endorsement of an increasingly popular payment service, and not a hint.
    • ayoubb
      ayoubb on 13 Feb 21
       
      Snapscan
  • hichamachir on 11 Feb 21
     
    SnapScan is an example of the efficiency of fintechs. However, I believe that these kind of innovative businesses need to be backed by strong institutions. SnapScan is backed by Standard bank and this bank is strong financial institution in South Africa. So I think that fintechs can use the financial power of banks in order to improve their services.
  • hindelquarrouti on 13 Feb 21
     
    I believe that by being easy to use and fast, Snapscan found success. However, what encourages customers to use it even more is its cheap cost.
  • chaimaa-rachid on 13 Feb 21
     
    The fact that the company provides an easy-to-use and fast service inspires people to use it.
kaoutarchennoufi

Fawry | Helios Investment Partners | Helios Investment Partners - 0 views

www.heliosinvestment.com/fawry

shared by kaoutarchennoufi on 12 Feb 21 - No Cached
  • Fawry provides users with a secure electronic bill payments solution, connecting consumers, merchants, governments and financial institutions on a consolidated gateway that is accessible through multiple channels, including Point of Sale (POS) machines, ATMs, post offices, online and through mobile wallets. 
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      how Fawry is pioneering electronic bill presentment and payment platform
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Fawry is able to connect different types of segments and people from consumers to merchants to government, etc.
  • Fawry provides users with a secure electronic bill payments solution, connecting consumers, merchants, governments and financial institutions on a consolidated gateway that is accessible through multiple channels, including Point of Sale (POS) machines, ATMs, post offices, online and through mobile wallets. 
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Many people are concerned with the level of security of these financial services providers and sometimes they refuse to use them because of this matter. However, Fawry provides its customers with a secure electronic bill payments solution through multiple channels including point of sale which is easy to use and increases efficiency.
omarlahmidi

Ethiopia launches mobile money schemes to extend banking reach | Reuters - 0 views

www.reuters.com/...-banking-idUSL6N0VE44020150204

Belcash Africa MobilePayment

shared by omarlahmidi on 13 Feb 21 - No Cached
  • BelCash’s helloCash service could have 2-3 million users this year and 10 million by 2017 or 2018, the firm’s chief executive Vince Diop said, adding that BelCash would receive a fee for each transaction made.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt is important because it shows how effective belcash is. and how an African country is willing to ensure financial inclusion and increase deposits by using financial technology.
  • BelCash’s helloCash service could have 2-3 million users this year and 10 million by 2017 or 2018, the firm’s chief executive Vince Diop said, adding that BelCash would receive a fee for each transaction made.
    • ghtazi
      ghtazi on 13 Feb 21
       
      in this excerpt, we can see that the service can have 10 million users by 2017 or 2018. we can aslo see the belcash would receive a fee for each transaction made.
  • Netherlands-based BelCash is offering a technology called helloCash, while MOSS ICT, mainly owned by an Ireland-based firm, is rolling out M-Birr in the nation of 96 million people.In both cases, Ethiopian banks and institutions will offer the service to customers and hold the cash deposited, in line with government policy that bars foreign firms or banks from investing in the financial sector or the telecoms industry.
    • nourserghini
      nourserghini on 13 Feb 21
       
      This article discusses the case of Belcash and M-Birr as two fintechs offering similar services which can lead us to say that M-Birr is a competitor of Belcash in Ethiopia.
  • ...2 more annotations...
  • Bankers say Ethiopia has no more than 1,500 ATM cash machines, while there was just over 2,200 bank branches as of June, or one for every 40,000 people, the central bank says. Only one in 10 people have a bank account.In addition to branches, which are expensive to set up, banks plan to authorise thousands of agents, such as shops or merchants, in line with new regulations. Such agents will be able to take deposits and hand out cash via the mobile system.
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      Cashless mobile payment application replace ATMs so that unbanked people can join. Only one out of 10 people is banked.
  • Ethiopian banks and microfinance firms are launching mobile money services, helping reach swathes of the population that now have little access to branches or services, the mobile technology providers and banks said.
    • omarlahmidi
      omarlahmidi on 14 Feb 21
       
      Belcash could make a lot of profit in Ethiopia. It offers a technology called helloCash, that will help customers and offer them a better service.
kenza_abdelhaq

How BPC and EthSwitch are interconnecting Ethiopian banks - Intelligent CIO Africa - 2 views

www.intelligentcio.com/...nterconnecting-ethiopian-banks

Ethiopay Ethiopia Ethswitch

shared by kenza_abdelhaq on 11 Feb 21 - No Cached
  • EthSwitch has an objective to work as international gateway for all banks. When the project is fully completed, over 50 e-Payment products and services will be supported in EthSwitch covering card delivery channels like ATM, POS, mobile, internet, and voice. EthioPay is the brand given to the National e-Payment Switch of Ethiopia.
    • kenzabenessalah
      kenzabenessalah on 11 Feb 21
       
      EthioPay acts as the key model in e-payment switch. This part is essential and crucial at the same time, because a simple, minor detail could create a major problem/risk for the customer or in data privacy.
  • Amongst the future activities is to include mobile as part of the financial inclusion policy. Another active area is the recent launch of the domestic card called EthioPay. Across a national population of 100 million, there are 2.5 million card holders and 40 million mobile users. Sufficient opportunity for Bekele and his team in the time to come.
  • Since May this year the number of inter-bank transactions has been growing. This is expected to increase as the Ethiopian population becomes aware of the interoperability and ease of use of using cards in any bank’s ATM machine. Along the way there have been some transactions declines due to connectivity failures and those limitations are being addressed
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt is important because it shows one of ethiopay's issues. the interconnectivity is very low compared to what they are actually offering ( 100 transactions per second)
  • ...2 more annotations...
  • List of banks connected to EthioPay National Bank of Ethiopia Abay Bank Addis International Bank Awash International Bank Bank of Abyssinia Berhan International Bank Bunna International Bank Commercial Bank of Ethiopia Cooperative Bank of Oromia Dashen Bank Debub Global Bank Development Bank Enat Bank Lion International Bank Nib International Bank Oromia International Bank United Bank Wegagen Bank Zemen Bank
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it shows the list of partner banks to Ethiopay. This reflects the scope and influence that Ethiopay has in its home country, but also its close link to the banking sector.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Ethiopay has a large network of customer, cardholders, mobile users, and bank partners.
  • EthioPay is the brand given to the National e-Payment Switch of Ethiopia.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Ethiopay is considered to be the National e-payment Switch in Ethiopia. because of the number of interbank in the market nowadays Ethiopians start to be aware of the ease of using cards.
  • kenza_abdelhaq on 13 Feb 21
     
    "EthioPay"
mbellakbail69

Fawry | IBM - 3 views

www.ibm.com/...ware-flashsystem-power-systems

shared by mbellakbail69 on 07 Feb 21 - No Cached
  • Fawry now supports millions of transactions daily for consumers and business through more than 90,000 locations (including groceries, pharmacies, stationaries and post offices), as well as through multiple alternative channels, including online, ATMs, and mobile wallets. The company’s client base and service offerings continue to expand, leading to rapid data growth. Abbas comments: "Our data has doubled in just the last eight months, and we expect it to grow even faster in the years to come.”
  • The technology offers data compression and deduplication features that enable Fawry to boost utilization of storage resources. Abbas adds: “IBM FlashSystem A9000R offers much greater performance than our previous storage platform, meaning that we get both optimized data economics and short response times. We were able to achieve a seamless migration to the new platform with zero downtime.”
  • Each day, Fawry processes 2 million financial transactions, giving Egyptians an easy, secure payment alternative to the complex, time-consuming procedures that are the norm. To help grow customer satisfaction and speed the roll-out of new services, Fawry deployed IBM® Storage, IBM Db2® and Oracle database on IBM Power Systems™ solutions.
  • ...6 more annotations...
  • With a population of over 100 million people, Egypt is a land of opportunity for consumer services providers. In a country where payment procedures are often slow, fragmented and complex, Fawry identified a gap in the market for a simple, secure omnichannel payment gateway.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it introduces the need that Fawry was created to tackle and the market gap that it saw as an opportunity to prosper. It is very important to understand the core problem around which Fawry services were designed, in order to be able to design and develop strategies that are faithful to this same goal.
  • Fawry now supports millions of transactions daily for consumers and business through more than 90,000 locations (including groceries, pharmacies, stationaries and post offices), as well as through multiple alternative channels, including online, ATMs, and mobile wallets. The company’s client base and service offerings continue to expand, leading to rapid data growth. Abbas comments: "Our data has doubled in just the last eight months, and we expect it to grow even faster in the years to come.”
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Fawry strives to make the life of their customer simpler. They have an e-commerce solution that links sellers to buyers that provide different methods of payment.
  • Fawry Putting Egypt on the global digital payments map
  • The company’s success is built on delivering consistently fast, dependable services alongside continual innovation. Seeing an opportunity to do more with its data, Fawry evaluated its technology infrastructure to ensure it was ready for the next phase in its evolution.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Fawry focuses on fast and dependable services based on innovation. The company also works on making better use of the data collected to make informed decisions; while keeping in mind the importance of a good technology infrastructure ready for the implementation of any new phase.
  • Haytham Abbas, Infrastructure Director at Fawry, picks up the story: “When we launched in 2008, the average household had to deal with around 13 separate utility and service providers. Since they typically had to set up payments with each service provider separately, often by visiting a branch, this was a lot of hassle. We created an omnichannel digital payment network to make life easier for consumers and the businesses that serve them.”
  • Fawry has a long history with IBM, having chosen IBM solutions to underpin its business again and again over the last decade. The company relies on both IBM Db2 and Oracle database software running on IBM Power Systems to support its bespoke electronic financial platform, processing 2 million transactions per day. “Together, IBM Db2, Oracle database and IBM Power Systems solutions give us the ability to process huge transaction volumes,” comments Abbas. “They provide a powerful foundation for our business, and have scaled seamlessly as we’ve grown.”
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      To ensure that it selected the best offerings on the market for its latest refresh, the company's IT team undertook a thorough evaluation of storage and server options from multiple vendors.
  • chaimaa-rachid on 07 Feb 21
     
    Fawry aims to make their client's life easier. They have an e-commerce solution that connects sellers with buyers offering various payment methods.
  • ...1 more comment...
  • hichamachir on 12 Feb 21
     
    The success of the compnay relies on its partnerships. Fawry's partnership with IBM is brilliant because IBM can offer Fawry some advanced technology that can help improve the business.
  • hindelquarrouti on 13 Feb 21
     
    Fawri is a secure alternative to the traditional procedures. It is user friendly and Egiptians are benefiting from it.
  • kenza_abdelhaq on 13 Feb 21
     
    "The company's success is built on delivering consistently fast, dependable services alongside continual innovation. Seeing an opportunity to do more with its data, Fawry evaluated its technology infrastructure to ensure it was ready for the next phase in its evolution."
aymanelmamoun

No cash needed using South Africa's SnapScan - 1 views

www.howwemadeitinafrica.com/...48525

NoCash SnapScan Africa E-Payment

shared by aymanelmamoun on 11 Feb 21 - No Cached
  • 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.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      SnapScan is a new app that aims to make it easier to make mobile payments, so I think this unique concept will drive potential entrepreneurs to develop and build new ideas that can enhance real digital services. It isn't always a major challenge to develop a new concept, but the problem may be how to view the idea or how to preserve it. SnapScan is a notion of a new concept that in South Africa revolutionized mobile payments so that this company could inspire us to build better ideas.
  • 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.”
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      SnapScan is cooperating with international banks in the aim of growing faster. Standard Bank is a example of alike partnerships, both companies adapt to the differences between the corporate and start-up worlds.
  • ...2 more annotations...
  • Why is this app so popular, and what does it do? In short it aims to replace the use of cash for both customer and merchant. What makes this unique for the merchant, is that they don’t need a bank account or a card machine to receive payments.
    • omarlahmidi
      omarlahmidi on 13 Feb 21
       
      SnapScan makes customer-s life much easier by providing many facilities.
  • 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.
    • aymanelmamoun
      aymanelmamoun on 27 Feb 21
       
      Partnerships as important strength.
  • hichamachir on 11 Feb 21
     
    SnapScan is a new product that aims to make mobile payments easier, so I believe that this unique idea might push future entrepreneurs to innovate and create new ideas that can improve the actual digital services. Creating a new idea is not always a big problem but the problem might be how to interpret the idea or how to protect it. SnapScan is a concept of a new idea that revolutionized mobile payments in South Africa so this business might inspire us to create better ideas.
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