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sawsanenn

Paga - Crunchbase Company Profile & Funding - 0 views

www.crunchbase.com/...paga

FinTech E-payments Nigeria

shared by sawsanenn on 13 Feb 21 - No Cached
  • Paga is a mobile payment company. We are building an ecosystem to enable people to digitally send and receive money, and creating simple financial access for everyone. Our mission is to make it simple for one billion people to access and use money. Our first market is Nigeria where Paga is the leading mobile payment company.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Paga is a company located in Nigeria that aims to make it simple for 1 billion people to access and use money with ease.
  • Paga is a mobile payment company. We are building an ecosystem to enable people to digitally send and receive money, and creating simple financial access for everyone. Our mission is to make it simple for one billion people to access and use money. Our first market is Nigeria where Paga is the leading mobile payment company.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      this excerpt shows the main service of paga fintech and their first market which Nigeria
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
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.”
  • ...8 more annotations...
  • 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.
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.
nouhaila_zaki

M-Pesa - 2 views

www.investopedia.com/...mpesa.asp

M-Pesa Financial inclusion Kenya

shared by nouhaila_zaki on 07 Feb 21 - No Cached
  • One of the drives for Fintech innovations, like M-Pesa, is financial inclusion, which is mostly geared toward an underbanked or unbanked group of people.
    • nouhaila_zaki
      nouhaila_zaki on 07 Feb 21
       
      Financial inclusion is a main priority of M-Pesa.
  • M-Pesa is a virtual banking system that provides transaction services through a SIM card. Once the SIM has been inserted into the card slot of the mobile device, users can make payments and transfer money to vendors and family members with SMS messages. Users with no bank accounts can access the numerous M-Pesa outlets distributed across the country. The money that needs to be stored is given to the kiosk attendant, who transfers the amount in digital form to the user’s M-Pesa’s account. Cash collected from M-Pesa is deposited in bank accounts held by Safaricom. The bank accounts serve as regular checking accounts and are insured up to a maximum of 100,000 shillings (or $1000) by the Deposit Protection Fund. M-Pesa provides receipts as proof of transaction. For a transaction to take place, both parties have to exchange each other’s phone numbers because the phone numbers act as account numbers. After settlement, both parties receive an SMS notification with the full name of the counterparty and the amount of funds deposited or withdrawn from the user’s account. The mobile receipt, which is received within seconds, helps to promote transparency for all individuals involved in a transaction.
    • nouhaila_zaki
      nouhaila_zaki on 07 Feb 21
       
      This excerpt is important because it explains how this mobile banking service operates. 1. Payments are made through SMS messages. 2. Cash collected by M-Pesa is deposited in bank accounts held by Safaricom. 3. Phone numbers act as account numbers. 4. M-Pesa provides receipts as proof of transaction.
  • M-Pesa is a virtual banking system that provides transaction services through a SIM card. Once the SIM has been inserted into the card slot of the mobile device, users can make payments and transfer money to vendors and family members with SMS messages. Users with no bank accounts can access the numerous M-Pesa outlets distributed across the country. The money that needs to be stored is given to the kiosk attendant, who transfers the amount in digital form to the user’s M-Pesa’s account. Cash collected from M-Pesa is deposited in bank accounts held by Safaricom. The bank accounts serve as regular checking accounts and are insured up to a maximum of 100,000 shillings (or $1000) by the Deposit Protection Fund. M-Pesa provides receipts as proof of transaction. For a transaction to take place, both parties have to exchange each other’s phone numbers because the phone numbers act as account numbers. After settlement, both parties receive an SMS notification with the full name of the counterparty and the amount of funds deposited or withdrawn from the user’s account. The mobile receipt, which is received within seconds, helps to promote transparency for all individuals involved in a transaction.
    • ghtazi
      ghtazi on 08 Feb 21
       
      this article shows us how M-Pesa is a virtual system that provides transaction services through a SIM card. M-Pesa allows users to deposit, withdraw, transfer money, pay for goods and services (Lipa na M-Pesa), access credit and savings, all with a mobile device.
  • ...9 more annotations...
  • A farmer has no bank account and wants to deposit his commodity sale proceeds of 1,000 shillings goes to an M-Pesa outlet and deposits the money with the kiosk agent or attendant. The agent, in turn, uses her phone to access the client’s account with the client’s registered phone number and credit the account for 1,000 shillings.
    • ghtazi
      ghtazi on 08 Feb 21
       
      M-Pesa target customers are anybody who has a phone.
  • M-Pesa is a mobile banking service that allows users to store and transfer money through their mobile phones. M-Pesa was introduced in Kenya as an alternative way for the population of the country to have access to financial services. Safaricom, the largest mobile phone operator in Kenya, launched M-Pesa in 2007. The service is a blend of two entities where M means mobile and Pesa means money or payment in the Swahili language.
  • Financial inclusion is an initiative that seeks to include residents who have no access to banks or who can’t afford the required minimum deposits in the digital banking era. In order for this initiative to succeed, different sectors must collaborate in sharing data with each other and build a meaningful digital platform.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      I like how M-PESA gave opportunities for those who cannot afford to have bank accounts , an alternative to still have access to those services.
  • Through mobile payment services like M-Pesa, the standard of living in Kenya has improved greatly. Market traders, debt collectors, farmers, and cab drivers don’t need to carry around or transact in a large amount of cash. This means that the occurrence of theft, robbery, and fraud is reduced. Also, individuals and business owners don’t have to wait in long lines for hours to make their electricity and water bill payments because these can be made using M-Pesa.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      The mobile payment industry was revolutionized by M-Pesa. The value of this business in the financial industry is demonstrated by the fact that the term M-Pesa has a financial significance. I believe that by using digitalisation in a way that can benefit people and solve their problems, M-Pesa has gained its impact.
  • To combat fraud, Safaricom mandates that users of a Safaricom SIM card who want to register for M-Pesa have to do so with a valid government ID such as the Kenyan national identification card or a passport. This way, each transaction is marked with the identification of the party transferring, paying, depositing, or withdrawing money from an account.
    • ghtazi
      ghtazi on 13 Feb 21
       
      to combat fraud they use either a sim card, ID card, or passport. in this way every transaction made will be marked with identifications of the parties transferring money, paying or whatever action it was made.
  • To combat fraud, Safaricom mandates that users of a Safaricom SIM card who want to register for M-Pesa have to do so with a valid government ID such as the Kenyan national identification card or a passport. This way, each transaction is marked with the identification of the party transferring, paying, depositing, or withdrawing money from an account.
  • M-Pesa is one of the innovative tools that have been birthed from the collaboration of telecommunication and banking sectors in East Africa.M-Pesa began in Kenya and is being utilized in 10 countries, including India and Romania. Emergent technology in the financial sector, or Fintech, has made it possible for financial services and products, like M-Pesa, to be more accessible at small costs.M-Pesa makes it possible for unbanked people to pay for and receive goods and services using a mobile phone instead of utilizing a brick-and-mortar bank.
    • nourserghini
      nourserghini on 13 Feb 21
       
      this article explains that M-pesa is a virtual banking platform that gives the opportunity for unbanked or underbanked individuals to conduct transactions through a SIM card.
  • This cross-communication tactic used by M-Pesa is developing rapidly in sub-Saharan Africa, where the telecommunication and banking sectors are working together to create mobile banking services for those with limited access to traditional banking.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      Mobile payment is progressively being used in emerging regions in which a large percentage of the population has little or no access to traditional banking such as Africa
  • Mobile money is increasingly being adopted in developing nations where a high percentage of the population has little or no access to traditional banking. Revolutionary services like Paga, MTN Mobile Money, Airtel Money, and Orange Money are disrupting the traditional payment systems used frequently by residents of emerging nations, by changing the economy from a cash society to a digital one.
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects the increasing importance of mobile money i.e. as proposed by M-Pesa in developing countries.
  • hichamachir on 12 Feb 21
     
    M-Pesa revolutionized the mobile payment industry. The fact that the word M-Pesa got a financial meaning shows the importance of this company in the financial industry. I think that M-Pesa gained its influence by using digitalization in way that can help people and solve their problems.
chaimaa-rachid

Pay with your phone using SnapScan | Standard Bank - 0 views

www.standardbank.co.za/...snapscan

cash online-purchase SnapScan

shared by chaimaa-rachid on 13 Feb 21 - No Cached
  • No need to carry cash, wait for the card machine or enter your card details with every online purchase. With SnapScan you can use your smartphone to make payments, send money to friends and earn UCount rewards points. SnapScan is compatible with most bank cards, as well as the Standard Bank virtual card.
    • samiatazi
      samiatazi on 13 Feb 21
       
      Thanks to SnapScan carrying a mobile phone is equivalent to carrying a digital wallet for e-payments and transactions. Most importantly, customers like this app for being free, safe, easy and convenient simultaneously.
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      Since SnapScan allows people not to carry real cash, this reduces the risk of having stolen money.
  • Safe Your card details are securely encrypted (we don't have access to them, nor does the shop you're buying from)
  • Easy Just download the app and link your cheque, credit or debit card (SnapScan works with any South African bank, and prominent international credit cards) Pay with your phone using SnapScan | Standard Bank Created with Sketch. Pay with your phone using SnapScan | Standard Bank Created with Sketch.
  • ...3 more annotations...
  • Free Pay no additional fees to use SnapScan (only your network service provider’s standard data charges and bank fees apply)
  • Convenient Pay for the goods and services that you want, wherever you are, without needing to carry cash or cards
  • No need to carry cash, wait for the card machine or enter your card details with every online purchase. With SnapScan you can use your smartphone to make payments, send money to friends and earn UCount rewards points.
  • chaimaa-rachid on 13 Feb 21
     
    SnapScan facilitates payments by using only a mobile phone to keep customers happy.
ghtazi

AgroCenta - Funding, Financials, Valuation & Investors - 0 views

www.crunchbase.com/...company_financials

fundings investors Agrocenta

shared by ghtazi on 12 Feb 21 - No Cached
  • AgroCenta has raised a total of $2.2M in funding over 4 rounds. Their latest funding was raised on Jan 29, 2021 from a Seed round.AgroCenta is funded by 6 investors. Foreign & Commonwealth Office - UK and AV Ventures are the most recent investors.
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      Funding of AGROCENTA
  • AgroCenta has raised a total of $2.2M in funding over 4 rounds. Their latest funding was raised on Jan 29, 2021 from a Seed round.
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This excerpt shows the effective work of agrocenta, and how their revenues expended over four rounds
  • AgroCenta has raised a total of $2.2M in funding over 4 rounds. Their latest funding was raised on Jan 29, 2021 from a Seed round.AgroCenta is funded by 6 investors. Foreign & Commonwealth Office - UK and AV Ventures are the most recent investors.
    • ghtazi
      ghtazi on 13 Feb 21
       
      AgroCenta raised a total of 2.2 millions USD in funding over 4 rounds. the latest one was raised in january 29th, 2021 from a seed round. we can see that the company has founded 6 investors. the most recent ones are Foreign & Commonwealth Office- Uk and AV Ventures.
tahaemsd

Fawry - Funding, Financials, Valuation & Investors - 0 views

www.crunchbase.com/...company_financials

fintech payments africa modernization electronic

shared by tahaemsd on 12 Feb 21 - No Cached
  • <ul>FundingFawry has raised a total of $122M in funding over 4 rounds. Their latest funding was raised on Jul 1, 2019 from a Private Equity round.Fawry is registered under the ticker EGX:FWRY .Fawry is funded by 5 investors. responsAbility&nbsp;and&nbsp;Egyptian-American Enterprise Fund are the most recent investors.Fawry has made 2 investments. Their most recent investment was on Feb 16, 2020, when Bosta raised <list-m</ul>
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      Investments and funding of Fawry
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.
ghtazi

Mukuru - ECP Investments - 0 views

www.ecpinvestments.com/...mukuru

Mukuru Funds Expenses

shared by ghtazi on 13 Feb 21 - No Cached
  • Mukuru is uniquely focused on serving low- and middle-income migrants who typically send money home to their families to cover basic living expenses and who otherwise rely on informal and inconsistent channels such as buses, taxis, friends, and family. Through Mukuru, customers can send money through more reliable channels via bank transfer, cash deposit, credit/debit card or via a Mukuru Money Card and/or mobile money wallet. Friends and family members of these customers can then receive the money through the same methods (cash collection, bank transfer, cash to card, or mobile money wallet).
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it reflects some important aspects of the company's operations and business model. 1- The customer segment: low and middle-income migrants in Africa. 2- What problem Mukuru helps to solve: it provides migrants who send money to their families through informal channels with a formal and regulated platform.
  • Mukuru is uniquely focused on serving low- and middle-income migrants who typically send money home to their families to cover basic living expenses and who otherwise rely on informal and inconsistent channels such as buses, taxis, friends, and family. Through Mukuru, customers can send money through more reliable channels via bank transfer, cash deposit, credit/debit card or via a Mukuru Money Card and/or mobile money wallet. Friends and family members of these customers can then receive the money through the same methods (cash collection, bank transfer, cash to card, or mobile money wallet).
    • sawsanenn
      sawsanenn on 13 Feb 21
       
      This article shows us the customers that Mukuru is targetting which are low and middle-income migrants and help them to send or receive money to or from their families or surroundings by offering easy services that everybody can understand and proceed it even the illiterate people.
  • Founded in 2004, Mukuru has established a powerful brand affinity with customers built on trust, reliability, and local engagement. The company has grown to operate over 90 remittance corridors, enabling more than 5 million individuals to receive funds to cover living expenses, school fees, medical expenses, and utility bills. Mukuru is supported by world-class regulatory and compliance systems, highly scalable technology architecture, and a comprehensive sales and distribution network.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Mukuru was founded in 2004, and since then the company has built a trustful, reliable with its customers. the company enables more than 5 million individuals to receive funds to cover everyday expenses.
omarlahmidi

Inside SnapScan, SA's app of the year - TechCentral - 2 views

techcentral.co.za/...43230

Africa SnapScan E-Payments

shared by omarlahmidi on 11 Feb 21 - No Cached
  • The company makes its money by charging a small transaction fee to the retailer on each purchase. This fee varies. “We take a small transaction fee, much like the acquiring component to merchant transactions,” Ehlers says. SnapScan has a partnership with Standard Bank, which means it can process transactions at “competitive rates”, he adds. In addition to transaction fees, SnapScan offers its customers the option of accessing analytics or running loyalty programmes, both of which are billed as add-ons.
  • SnapScan co-founder, 28-year-old Kobus Ehlers, says there are a number of benefits to this approach for retailers. “It takes about 30 seconds to sign up. We issue a QR code, which you print, and you’re done.” Merchants without bank accounts can cash out their takings at the end of the day. “Customers can pay with the app, the retailer can then get a voucher code at the end of the day that they can punch in at a Standard Bank ATM — or hand over at a Spar — and get cash.” If customers don’t have the app installed, scanning the QR code will take them to the relevant app store where they can download it.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      Low transaction fees are often a strong opportunity to draw customers and this technique is perfectly executed by SnapScan. SnapScan, in my view, plays smart because they deliver a fast and digitalized service with a special QR code technology, so they deserve to win the South African app of the year.
  • If customers don’t have the app installed, scanning the QR code will take them to the relevant app store where they can download it.
  • ...4 more annotations...
  • To use SnapScan, consumers download the app for Apple, Android or BlackBerry, and add their credit card details by taking a picture of their card and creating a Pin. They can then use the app to scan a QR (quick response) code — a type of barcode — in a store and can make payments.
  • The company makes its money by charging a small transaction fee to the retailer on each purchase. This fee varies. “We take a small transaction fee, much like the acquiring component to merchant transactions,” Ehlers says. SnapScan has a partnership with Standard Bank, which means it can process transactions at “competitive rates”, he adds. In addition to transaction fees, SnapScan offers its customers the option of accessing analytics or running loyalty programmes, both of which are billed as add-ons. The company offers three products. The first is an “instant merchant product” aimed at informal retailers who want their takings in cash. The second is the “standard” product that settles into a bank account like a traditional point-of-sale (POS) unit. The third is an “enterprise solution” designed to integrate with existing POS systems.
  • SnapScan works with debit cards and credit cards, and there are no sign-up, setup or installation fees. There is also no monthly fee payable.
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      SnapScan enters the market by offering many facilities to attract new customers. The application supports both debit and credit cards, no sign-ups or installation fees, and payments are made monthly.
  • SnapScan falls under FireID, the company that now houses six start-up technology businesses, SnapScan being the most recently launched. FireID started life as an information security company specialising in “two-factor authentication” technology for mobile phones. It was funded by billionaire Johann Rupert, through Reinet. Justin Stanford, one of FireID’s co-founders, was instrumental in securing the initial capital injection. However, Stanford was unable to convince Reinet’s investment committee to continue investing and in 2011 it pulled its funding of FireID, forcing the company to lay off its 40 employees.
    • omarlahmidi
      omarlahmidi on 13 Feb 21
       
      To attract customers, SnapScan uses many facilities such as accepting credit and debit cards.
  • hichamachir on 11 Feb 21
     
    The low transaction fees are always a good incentive to attract customers and SnapScan are implementing this strategy perfectly. In my opinion, SnapScan is playing smart because they offer a fast and digitalized service with a unique technology which is QR code, so they deserve to win the app of the year in South Africa.
  • chaimaa-rachid on 13 Feb 21
     
    SnapScan offered a digital service. The company has created efficiency and security with its QR code techniques.
  • hindelquarrouti on 13 Feb 21
     
    It is interesting and encouraging to customers the fact that they don't need to pay any sign-up, setup or installation fees in order to benefit from snapscan
mehdibella

Standard Bank SnapScan - Simplifying payments in a Snap - 0 views

businesstech.co.za/...simplifying-payments-in-a-snap

Fintech finance SouthAfrica snapscan

shared by mehdibella on 13 Feb 21 - No Cached
  • The app has since evolved and, today, SnapScan allows users to make quick and easy payments using their smartphones, thus eliminating the need to carry cash or cards.
    • kenzabenessalah
      kenzabenessalah on 13 Feb 21
       
      SnapScan reduces the risk of people losing their credit cards which can be a big hassle. Instead of carrying their credit cards, they can simply use their phones.
  • In its infancy, SnapScan flourished in coffee shops and at weekend markets. The founding team had extensive experience in banking and mobile money, and they knew that payments for these merchants could be vastly improved
  • SnapScan evolution
  • ...4 more annotations...
  • SnapScan is currently one of the most popular mobile payment apps in South Africa with no sign of slowing down. It facilitates a variety of payments: in-store, online, bills, donations, or prepaid services from within the app.
  • Merchant offering
  • SnapScan offers a simple solution that can be used anywhere and at any time, suiting merchants who trade in small locations, indoors or outdoors. SnapScan is also a great solution in times of load-shedding, when electrical payment systems are unavailable.
    • mehdibella
      mehdibella on 13 Feb 21
       
      I totally agree with this statement because the lack of traditional infrastructure not only in this field but also in the others leads to brilliant ideas leading to perfect Businesses and Companies that can make fundamental changes like Snapscan. in fact, Fintechs came up with a huge innovative transformation that made the world even better.
  • With SnapScan you can use your smartphone to make payments, send money to friends, and earn UCount Rewards Points when making a purchase. SnapScan is compatible with most bank cards, as well as the Standard Bank Virtual Card.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      SnapScan is compatible with most bank cards and allows users to make payments, send money, earn points and make purchases via their smartphone.
nourserghini

Send money to M-PESA accounts in Kenya - 0 views

www.worldremit.com/...m-pesa

Mpesa Mobile-money Kenya Services

shared by nourserghini on 09 Feb 21 - No Cached
    • aminej
      aminej on 09 Feb 21
       
      I believe that M-PESA is one of the most developped and interesting fintechs in Africa and I'm sure it will expand to different places in the world. It a virtual banking system (mobile money service) that offers transaction services through a SIM card on a mobile phone. It is a very safe method of sending and receiving money very fastly and conveniently even for people who live in rural areas which is the case for most of people in the African continent.
  • M-PESA Kenya is an electronic mobile money service that allows you to store, send and receive money on your mobile phone. With an M-PESA account, you can transfer cash and shop for products and services. You can also withdraw cash by visiting an agent (typically in a corner shop) or transfer it to others from your phone. This makes it a quick, safe and simple way to make payments and handle money.
  • M-PESA is a virtual banking system (mobile money service) that offers transaction services through a SIM card on a mobile phone. In Kenya this must be with a Safaricom SIM card. The SIM card is inserted into the card slot of the mobile device and users can receive and store money, as well as make payments and transfer money to vendors and family members using SMS messages.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      M-PESA doesn't require something complex for customers to make use of its services, they just need a SIM card.
  • ...1 more annotation...
  • Why use M-PESA to send money to Kenya?Money is added instantly to M-PESA accounts once payment is approved.Your recipients don’t have to carry large amounts of cash with them, which can be unsafe.There’s no need for your recipient to travel to a pickup location, they will have the money delivered right to their phone. It couldn’t be easier!
    • nourserghini
      nourserghini on 13 Feb 21
       
      This part explains the facility of sending money to Kenya through M-pesa as money is added instantly and is delivered directly to the phone.
aymanelmamoun

» Pay with SnapScan at Shavathon | CANSA Shavathon - 0 views

shavathon.org.za/pay-with-snapscan-at-shavathon

SnapScan E-Payment Africa FinTech

shared by aymanelmamoun on 13 Feb 21 - No Cached
  • Yes! SnapScan is safe to use on multiple levels: The app requires a PIN to be entered before any transaction can be completed. This prevents anyone who has your phone from making transactions, as your PIN should be known only to you. &nbsp;Your card details are also encrypted and stored safely and securely on your phone. Even if your phone is stolen, nobody will be able to see or access your card details.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      I think that it's important to notify that Payment information sits securely in the app. So, the card details only have to be put into the app once, and thereafter all you have to do is enter the Pin. This means the application never transmits the card details to the merchant.
  • SnapScan is a new innovative mobile payment App on a smartphone. It provides a cashless, card-less payment app that consumers can use at thousands of merchants across South Africa or to make donations to CANSA.&nbsp; It can be used for customers of any bank in South Africa (not just Standard Bank).
    • aymanelmamoun
      aymanelmamoun on 13 Feb 21
       
      Card-less, QR Code, and cashless mobile payment app.
kenza_abdelhaq

SnapScan - 0 views

www.sun.ac.za/...overview

SnapScan South Africa Payments Service

shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • SnapScan only works with most ecommerce enabled debit or credit cards from any South African bank, as well as most international credit cards.&nbsp;
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Unlike other companies focusing on financial inclusion, SnapScan needs the presence of a bank account as well as a debit or credit card from any South African bank.
  • kenza_abdelhaq on 13 Feb 21
     
    "SnapScan only works with most ecommerce enabled debit or credit cards from any South African bank, as well as most international credit cards. "
samielbaqqali

Virtual Cards - Global Processing Services | GPS - 0 views

www.globalprocessing.com/...virtual-cards

Fawry Payments Wallet

shared by samielbaqqali on 13 Feb 21 - No Cached
  • By using virtual cards and wallets for online payments, you can: • Meet customer expectations by delivering an innovative product that they need • Encourage immediate card use to drive the profitability of your programme • Enhance the customer and user experience through convenient features • Strengthen your brand amongst your customers
    • samielbaqqali
      samielbaqqali on 13 Feb 21
       
      All these must be present while using the Fawry application.
hindelquarrouti

SnapScan: Mobile payment solutions provider in South Africa - 1 views

www.snapscan.co.za

snapscan contactless mobile-payments fintech

shared by hindelquarrouti on 08 Feb 21 - No Cached
  • SnapScan is more than just a smartphone app. It’s a contactless mobile payment solution that makes it easy and safe to pay and receive payments in a store, online, at home, and on the go. No need for cards, cash, or time-consuming EFTs – just simple payments in a snap!
    • sawsanenn
      sawsanenn on 08 Feb 21
       
      snapscan allows its users easily get access to its services, even illiterate customers. plus, they gain customers trust.
  • SnapScan is more than just a smartphone app. It’s a contactless mobile payment solution that makes it easy and safe to pay and receive payments in a store, online, at home, and on the go. No need for cards, cash, or time-consuming EFTs – just simple payments in a snap!
    • aminej
      aminej on 10 Feb 21
       
      SnapScan offers an innovative services that is used by more than 60.000 merchants worldwide. It was created in South Africa where level of crimes are very high. People avoid using cash or cards since they are confronted to theft situation very often.
  • SnapScan is more than just a smartphone app. It’s a contactless mobile payment solution that makes it easy and safe to pay and receive payments in a store, online, at home, and on the go. No need for cards, cash, or time-consuming EFTs
  • hindelquarrouti on 13 Feb 21
     
    Snapsscan focuses in being an innovative fast and easy to use platform in order to attract customers. It targets its customer by showing them that a simple app would do the work that normally is time consuming and requires cards. It is a very good aspect to focus on in the fintech industry
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"
ghtazi

Mukuru international money transfers review | Finder South Africa - 0 views

www.finder.com/...mukuru-money-transfers

Deposit Payment Methods

shared by ghtazi on 13 Feb 21 - No Cached
  • Mukuru specialises in single transfers to friends and family, whether over the phone, through the app, online, bank transfers or through one of its branches. You can’t set up a recurring transfer through Mukuru and it doesn’t specialise in business transfers.You can make transfers to any of the following, depending on the country you’re sending to:Bank account. The money will be deposited directly into the bank account you choose. You’ll need to know the SWIFT code as well. This option is currently available for all supported countries.Cash pick-up location. You can send money to a cash pick-up location for your recipient to collect. If you choose this option, the person picking it up will need a valid photo ID on hand and the reference number. You’ll only be able to use this for transfers to Zimbabwe, Malawi, Namibia and Zambia.Mobile wallet. Send to your recipient’s smartphone wallet. This option is helpful if your recipient doesn’t have a bank account and isn’t near a cash pick-up location. You can use it in Zimbabwe, Malawi and Mozambique.Top-up card collection. This is used when you want to send money directly to your recipient’s card. You’ll need their card number and address. This is currently only available in Zimbabwe.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      Mukuru proposes numerous services, however I believe that they should step up and propose new different services. Banks propose similar services. They should take advantage of new technologies and online platform to expand more.
  • The supported payment methods vary depending on where you are in the world but from South Africa, you’ll have a few options: make a cash deposit at one of Mukuru’s partner branches, online or telephone banking, bank transfer or through a Mukuru Money prepaid debit card, which all customers in South Africa qualify for. South Africa is the only country in Africa that allows bank transfers with Mukuru.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Depending on where you are in the world, the supported payment methods differ, but you will have a few choices from South Africa: make a cash deposit at one of Mukuru's partner branches, online or telephone banking, bank transfer, or via a prepaid debit card for Mukuru Money, which all South African customers apply for. The only country in Africa that makes Mukuru bank transfers is South Africa.
kenza_abdelhaq

TPAY Mobile - Funding, Financials, Valuation & Investors - 0 views

www.crunchbase.com/...tpay-mobile

TPay Mobile Algeria Acquisitions

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • TPAY Mobile has acquired 2 organizations. Their most recent acquisition was Payguru on Jun 10, 2020.
  • kenza_abdelhaq on 12 Feb 21
     
    "TPAY Mobile has acquired 2 organizations. Their most recent acquisition was Payguru on Jun 10, 2020. "
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