Payments News

On The Web

nbsp;

Deals

MFS Africa Invests in Maviance

“MFS Africa, a pan-African fintech company, operating the largest digital payments hub on the continent, had provided seed investment of $3m to Maviance, a Cameroon-based fintech provider. Maviance will be using the new funding to increase its footprint in its Cameroon and to expand into other countries in the central African economic region (CEMAC).    […]
nbsp;

Deals

Pomelo Raises $9M to Build a Payments Infrastructure for LatAm Fintechs

“Pomelo, a startup building a fintech-as-a-service platform for Latin America, has raised $9 million in a seed round of funding. The Buenos Aires-based startup’s new infrastructure aims to allow fintechs and embedded finance players to launch virtual accounts and issue prepaid and credit cards via “compliant” onboarding processes.”
nbsp; nbsp;

Global

UPDATE 1-Ethiopia’s State Telecoms Monopoly Launches Mobile Money Service

“Ethiopia’s sole mobile operator, Ethio Telecom, launched a mobile phone-based financial service on Tuesday, seeking to boost growth by offering cashless transactions. Mobile financial services have become a significant part of African telecom operators’ businesses since Kenya’s Safaricom pioneered them with M-Pesa in 2007, giving people an alternative to banks. The new service, telebirr, will […]
nbsp; nbsp;

Global

SA banks are ‘forced’ to charge more for instant payments – but their prices vary wildly

“South African banks say they have little choice but to charge extra for processing immediate electronic payments between clients of different banks. In a single year, banks process more than 49 million of these premium-rate transactions – but quite how much banks believe this extra computing power and risk should cost clients differs greatly. At the extremes, […]
nbsp;

Global

Paystack Expands to South Africa Seven Months After Stripe Acquisition

“Nigerian fintech startup Paystack has been relatively quiet since it was bought by fintech giant Stripe last October. The deal, worth more than $200 million, caused shockwaves to the African tech ecosystem and offered some form of validation to work done by founders, startups and investors alike. Today, the payments company, which powers businesses with its payment API and is actively present […]
nbsp;

Global

Africa’s Digital Payments Race Becomes a Scramble

“The prospect of a cashless Africa has triggered a scramble for control of its payments plumbing. The continent’s top telecoms operators have become big financial players thanks to their “mobile money” networks, which provide basic banking to tens of millions through handsets. If China is a guide, that could make them gatekeepers to a fintech […]

On The Wires

nbsp;

Global

FLEETCOR® Signs Joint Venture Agreement With CAIXA, Brazil’s Largest Bank, to Distribute Its Electronic Payment Solutions

“FLEETCOR Technologies, Inc. (NYSE: FLT), a leading global business payments company, today announced the signing of a joint venture in Brazil between its local subsidiaries and CAIXA, the country’s largest bank. FLEETCOR® partnered with VR Benefícios, a Brazilian leader in meal and food vouchers, on the joint venture to meet the product requirements in the […]
nbsp;

Global

Mastercard Partners With Billetera to Offer Cutting-edge Digital Payment Solutions in Democratic Republic of Congo | Middle East/Africa Hub

“Mastercard has partnered with Billetera – a leading digital payments technology company headquartered in Kenya – to provide millions of unbanked and financially excluded residents in the Democratic Republic of Congo (DRC), access to formal financial and digital services through a diverse range of digital payment solutions…Mastercard’s partnership with Billetera is aimed at creating payments […]