Group items tagged

“Non-cash payments have increased in volume due to the rise in adoption of digital payment services across all market segments,” Christophe Vergne, cards and payment practice leader at Capgemini, told CNBC.

The service will allow customers to send money to bank accounts and mobile wallets in 15 countries, including Uganda, the United Kingdom, India, China and Germany. SimbaPay previously set up a similar service for transfers to Asia with Kenya’s Family Bank in 2018. Africa has been among the most prominent regions for fintech development as users, banks and technology companies have bypassed traditional banking to embrace mobile banking and payment services.

SimbaPay head of operations Victor Karanja said in a statement: “Businesses as well as Kenyans and expatriates with friends and family abroad send over USD 18 billion to other African countries, Asia and Europe annually with several billion Kenya Shillings going through the SimbaPay network.”

In the framework of its concern in making it easy for citizens to pay for accessing its e-services via the Internet, in order to reach a society more dependent on electronic payments; WATCH iT! has announced signing a partnership agreement with Fawry the leading Fintech network in Egypt to offer its services through “Fawry Pay” to the public. WATCH iT! It is the first of its kind in Egypt and the newest in the Middle East and North Africa, where the number of its users reaches 1.5 million users and has a huge library the most diverse, containing more than 650 thousand entertainment hours of movies, series and programs that suit all ages.

In the framework of its concern in making it easy for citizens to pay for accessing its e-services via the Internet, in order to reach a society more dependent on electronic payments; WATCH iT! has announced signing a partnership agreement with Fawry the leading Fintech network in Egypt to offer its services through “Fawry Pay” to the public.

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

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

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

Cassava FinTech is a pan-African business using an integrated model to drive financial inclusion and digital transactions across the continent. Our core operations in Mobile Money, Social Payments Services, Digital Banking, International Remittances and Mobile Micro Insurance with presence in Zimbabwe, South Africa, Burundi, Lesotho and UK and partnerships in other African countries

Fawry is the leading digital transformation & E-payment platform in Egypt, offering financial services to consumers and businesses through more than 194,000 locations and a variety of channels. In addition Fawry considered as a provider of payment gateway in Egypt and e-commerce solutions. Know More

Feeding into the Central Bank of Egypt’s grand plans of building a digital economy and advancing digital and financial inclusion, the partnership aims to increase use of digital payment solutions such as POS terminals and QR solutions, by leveraging Visa’s global network and Fawy’s on-ground, localised solutions.

Digital financeAs the global economy recovers from COVID-19, one particular area of focus for FinTech is financial inclusion. According to the World Bank, there are currently around 1.7 billion unbanked individuals worldwide, and FinTechs will be central to efforts to integrate these people into the global banking system.Doing so will help to mitigate the economic and social impact of the pandemic. According to Deloitte, FinTechs, in strategic partnerships with financial institutions, retailers and government sectors across jurisdictions, can help democratise financial services by providing basic financial services in a fair and transparent way to economically vulnerable populations.Digital finance is also expanding in other areas. Health concerns in the COVID-19 era have made physical cash payments less practical, opening the door to an increase in digital payments and e-wallets. Though cash use was predicted to decline in any case, COVID-19 has hurried that decline, due to concerns that handing over money can cause human to human transmission of the virus. According to a Mastercard survey looking at the implications of the coronavirus pandemic, 82 percent of respondents worldwide viewed contactless as the cleaner way to pay, and 74 percent said they will continue to use contactless payment post-pandemic.In addition, improved ‘know your customer’ services are required to counter the rise in digital fraud and cyber crime since the beginning of the outbreak. As more of the global economic and financial system continues to move online, cyber defences will become even more crucial to protect data. Security-conscious FinTechs are designing their products with this in mind – even if face-to-face meetings and processes do return. Given the rising reliance on technology, digital transformation will be a primary focus for FIs in the months and years ahead. Whereas previous efforts to integrate technology may have been limited in scope, many FIs are awakening to the fact that in order to deliver an efficient, effective and sustainable banking service, they must adopt a more holistic approach to digital transformation, which includes utilising FinTech.

M-Pesa was launched in 2007, and it’s still going strong. The concept of a phone-based money transfer service originated back in 2002, when researchers realized the popularity of the market for phone airtime — individuals in a handful of African nations often transferred it to friends and family for subsequent use or resale.

When M-Pesa (launched by Safaricom) made its debut a few years later, it had initially been conceived as a solution for microfinancing — allowing institutions to distribute and collect loan payments without the hassle of cash. However, during this pilot, its widespread adoption in a myriad of alternative use cases caused the company to reconsider and relaunch with a focus on ensuring individuals could send money to their families and execute payments.

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.

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.

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.

Cyber Security Africa held its 5th Ethiopia Banking and ICT summit of the year, “The 5th Ethiopia Banking & ICT Summit 2018” hosted in Addis Ababa Ethiopia attracting more than 150+ participants from all over the world.

"EthioPay – the Unifying e-Payment Platform for Ethiopia"

"EthioPay – the Unifying e-Payment Platform for Ethiopia"

echnology and its trends has made our lives easier especially in the fields of financial technology and payments. Now there are more advanced ways of payments and one of the most important players in Egypt in this field is Fawry. Fawry offers financial services to consumers and businesses through different channels and locations. Through Fawry you can pay your mobile, landline and utilities bills, donate money, renew your car license and more. Fawry was founded in 2008 and officially started in the market in 2010. They now have offered their service to reach 80,000 points of service in 300 cities all over Egypt. Their portfolio of businesses include: Orange, Vodafone, Etisalat, Go Bus, Lynks, Anghami, Ahl Misr Foundation, Resala and more

We started by hiring the best people we could find, for any startup to succeed it needs a really strong team especially at the beginning. We also got a good fund at the beginning from different entities such as Raya Holding, Technology Development Fund (Ideavelopers), Arab African International Bank, HSBC, Alexbank and other banks, this is what helped us build our brand.

Strong team management and good negotiation skills. The second thing is that it was a mutual investment fund, those investors already liked Fawry’s model and didn’t want to change anything but just help accelerate our growth with some cash. We are now a large corporate but with the spirit of a startup. Even until now, we appreciate everyone’s input at the company whether they have been working here for a month or 5 years. it doesn’t matter.

Fawry’s fortune is partly due to the COVID-19 pandemic that caused more people to place a high demand for its e-payment offerings. Being the leading fintech company in Egypt, Fawry’s revenue for the first half of 2020 increased by 47% to EGP 549.26M, from EGP 373.33 generated in 2019.Fawry has joined the rank of African companies that have become unicorns. Jumia was the first to attain unicorn status after listing on the New York Stock Exchange. Interswitch also became a unicorn after Visa acquired minority stakes last year. All three have attained global recognition, credibility, and reputation. The unicorn status creates a good public perception for investors and potential customers.

Fawry’s fortune is partly due to the COVID-19 pandemic that caused more people to place a high demand for its e-payment offerings. Being the leading fintech company in Egypt, Fawry’s revenue for the first half of 2020 increased by 47% to EGP 549.26M, from EGP 373.33 generated in 2019.

Ashraf Sabry and Mohamed Okasha founded Fawry in 2008. It has an online payment gateway for business owners to transact with customers via cash, credit cards, and e-wallets. In 2019, Fawry listed about 36% (254.6M) of its ordinary shares on the Egyptian Stock Exchange. It initially sold at EGP 6.46 per share, and then it tripled to EGP 18.78 at a market cap of EGP 13.3B in July 2020. After going public, other investors took an interest that led to a significant increase by over 300% in its stock price since its debut at the Egyptian Stock Exchange.

In 2012, two brothers, Chijioke Dozie and Ngozi Dozie, founded Carbon, a Nigerian digital bank start-up. Carbon began as a digital lending company, but now the company provides a variety of services, from payments to savings to investments. According to Dozie, “Our annual report will be released in the second quarter after our financial audit is complete, to gain customer trust, Chijioke Dozie, the CEO, told ProWellTech in 2019 that the company will make Carbon’s financials public.” If you note, before we published the 2019 fiscal year update, we released a year under review in January 2020.Gross profits, profit or loss before and after tax, liabilities and equity, total assets, etc. are included in Carbon’s annual report. Carbon’s year of analysis reveals processed payments, client base, disbursed loans, and investments made on the platform. The business with about 659,000 customers processed N96.54 billion (~$241.35 million) according to Carbon’s year of analysis for fiscal year 2020, which is up 89 percent compared to the same period a year earlier. N25.51 billion (~$63 million) was the disbursement volume for its lending arm, an improvement of 9.1 percent from the 2019 financial year. Investments worth N13.02 billion (~32.55 million) were made on the site, up by 365 percent from FY 2019.The factors that affected these numbers last year, according to the company, included the launch of an iOS app that pushed clients Acquisition, introducing its feature for low-income customers with USSD banking services; and a social chat feature to allow faster transactions. Besides that, Carbon obtained a microfinance bank license in an attempt to become a digital bank. The license implies, according to Dozie, that Carbon’s customers are given additional protection by the Nigerian Deposit Insurance Corporation through depositor insurance. The standard Carbon wallet is now a full-fledged bank account, Dozie says, and clients will transact on the platform like any bank would.

 AgroCenta’s main competitors are Esoko (www.esoko.com), FarmerLine (www.farmerline.co) and Farm Radio (www.farmradio.org). These 3 competitors are “information-based” only, delivering market prices, weather information and extension advisory services via SMS to farmers.

BelCash is a company known to have introduced an advanced use of technology to provide customized solutions in convenient payments to vital government services in 2010. It has since refurbished what was once a bureaucratic paper system which inconvenienced millions of people who depend on it.

With Ethiopia moving to a strategy which helps embrace the wisdom of solar energy within the country and play catch-up to successes achieved in neighboring nations such as Kenya and Rwanda; HelloSolar in partnership with BelCash – the mobile banking platform system – is set to introduce a pay-as-you-go system for the nation’s off-grid population with affordable solar home system.

This is a jump-the-queue strategy for the company in offering such a system and becoming a pioneer in a country whose majority of population still lack basic energy. In addition, the company has launched an International Remittance payment system, to allow members of the Diaspora to pay from anywhere in the world with a credit card and convenience local clients.

As you may know, Ethiopia well Africa, in general, has skipped the laptop and computer phase of technology straight into the mobile phase of technology this is commonly known as the leapfrog model.

Our platform plans to use the leapfrog model to leverage our technology and give the 45 mill users around Ethiopia a new way to manage bills and provide the over 2.5 million Ethiopian diasporas in the United States a way to help their families

In Egypt, we have two customer segments; first is the bank population where we offer our services through banking channels, including services that allow people to pay their bills, their bus and airline tickets. Then we do the same exactly for the unbanked or the under-banked where you go to an agent and there you make the payment either in cash or electronically. These are the two main customer segments and probably they are mainly in the age group between 20 to 40.

While other platforms are a one-size-fits-all, Ethiopay isn’t. We support the unique payment needs of Ethiopians including payments for school fees, telecom, utility bills and other needs that are close to your heart.