Consumers continue to use Google Search and YouTube for inspiration and learning new skills, and ‘how to’ searches continue to grow across both platforms.

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

As technology gives new entrants better and cheaper ways to compete for core banking business, banks’ dominant position could be challenged.

Digital is constantly growing with a double-digit thanks to eCom, mobile and social networks  Physical Stores are still But growth comes from online 

One of the major challenges faced by financial companies are cyber threats, thus making it key motive to strengthen payment gateway to safeguard customer data and transaction process.

According to Gartner,* “Application leaders responsible for digital commerce payments should use this Gartner research to adapt their customer-facing and operational payments processes to the current environment, optimize the customer payment experience and build organizational resiliency.”  

Fintech is used to define an industry that integrates financial and technology resources to develop financial solutions for organizations. In recent years, fintech innovations have transformed the way and the speed at which money can change hands. The major benefit of this has been at the consumer end. Making payments for them has become safer and quicker than ever before!

“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.

As electronic payments have moved to the forefront, the traditional market participants, banks, have also been facing increased competition from innovative financial technology firms (FinTechs) focusing on niches within the payments value chain. Such firms have been enabled by advances in technology, including the ability to develop their systems in the cloud and with a green field that is not tied to a mainframe and old code.

Also by making payments through encrypted one-time token information, information is not exposed externally and by supporting a separate Secure Element (SE) that can independently and securely store sensitive information, security was improved.

ZEEPAY, a wholly Ghanaian owned mobile financial services company focused on providing integrated mobile payments services with mobile wallets has announced that the company has partnered with Visa to allow Africans in the diaspora to directly send money onto Visa debit and prepaid cards in Ghana.

ZEEPAY is planning to use the finance to continue to scale and roll out its services across the continent and extend its global reach by launching in the UK in 2021.

Zeepay, a fast-growing financial technology (fintech) company into Mobile Financial Services across Africa, has announced its partnership with Transfast, a Mastercard company and a leading cross-border payments service provider.

Payments provider Small World FS and Ghanaian mobile financial services aggregator Zeepay have struck a partnership to offer mobile money wallets in Ghana.

Founded in 2017 by Charmaine Hayden, Orla Enright, Ashley Thompson-MacCarthy and Richard Mensah, GOODsoil comprises 50% female and 75% black partners, all young, serial entrepreneurs intent on becoming catalysts of economic growth for minority founders across Africa.

Zeepay focuses on digital rails to connect digital assets. The company has a footprint in more than 20 African markets and, in April 2020, became the first indigenous company to be awarded the Electronic Money Issuer (EMI) license to operate as a mobile financial services company by the Bank of Ghana, the regulator of banking and financial services.

“Since Sub-Saharan Africa is traditionally considered a challenging region from the remittance perspective, we are glad to extend our service to an institution that just recently has satisfied the scrutiny of the local regulator,” said Dima Kats, CEO of Clear Junction. “Our correspondent account service will lower the entry barrier for Zeepay when rolling out the payment collection in the EU and UK.”

“Since Sub-Saharan Africa is traditionally considered a challenging region from the remittance perspective, we are glad to extend our service to an institution that just recently has satisfied the scrutiny of the local regulator,” said Dima Kats, CEO of Clear Junction. “Our correspondent account service will lower the entry barrier for Zeepay when rolling out the payment collection in the EU and UK.”

Zeepay CEO Andrew Takyi-Appiah The Ghana Information Technology and Telecoms Awards have declared Zeepay CEO Andrew Takyi-Appiah the Best Fintech CEO of the Year 2020.

He described an average African user as highly dependent on a mobile device for accessing financial services. Takyi-Appiah also talked about how an innovative yet simple platform built on the over-the-top (OTT) instant messaging service players such as WhatsApp could offer the scale to penetrate millions who do not have access to formal financial services across the African sub-continent and help transform its payment ecosystem.

The startup has a footprint in more than 20 African markets, and in April 2020 was awarded an Electronic Money Issuer (EMI) license to operate as a mobile financial services company by the Bank of Ghana, the regulator of banking and financial services.

It has now raised a US$940,000 seed round from GOODsoil VC, an Africa-focused early-stage venture capital firm founded in 2017, which will enable Zeepay to continue to scale. The startup has a United Kingdom (UK) launch planned for 2021.