Payments News

On The Web

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Companies

MasterCard Helps Launch a Digital Payments Platform in Africa

“The digital and card payments giant has launched a payment platform in Africa that will help clients adopt and use mobile-based payments. This is initially being launched across 40 African countries, with it being made available for use immediately in some of the biggest African economies such as Nigeria, South Africa, Kenya and Ghana. This […]
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Deals

African fintech startup Chipper Cash raises $30M backed by Jeff Bezos

“African cross-border fintech startup Chipper Cash has raised a $30 million Series B funding round led by Ribbit Capital with participation of Bezos Expeditions — the personal VC fund of Amazon CEO Jeff Bezos…he company offers mobile-based, no fee, P2P payment services in seven countries: Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya. Parallel […]
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Global

Standard Bank to support contactless payments in 15 African countries

“Standard Bank is supporting the mass rollout of contactless cards across Africa as the financial services group reports an accelerated increase in the use of tap and pay across the continent.  Based in South Africa, the group is currently enabling contactless payment capabilities for customers in 15 African markets, including Botswana, Eswatini (Swaziland), Ghana, Kenya, […]
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Global

Safaricom launches M-Pesa service for small businesses

“Boda boda operators, food vendors and other small informal business owners will be able to separate business and personal funds on M-Pesa with a new feature on the money transfer service. Dubbed Pochi la Biashara, the feature allows the business owners who do not have a Lipa na M-Pesa line to receive money from customers […]
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Global

Pandemic Spurs Africa’s Mobile Telcos to Ramp Up Banking Bid

“When COVID-19 hit Ivory Coast, Bonaventure Kra, who works at an import-export business, began to worry. Handling hard cash all day was a risk. Queuing in crowded bank branches exposed him to infection. Then, in the midst of the pandemic, French telecommunications giant Orange ORAN.PA launched an entirely digital bank – its first full banking […]
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Deals

Mobile Money Gateway MFS Africa Has Acquired B2B Digital Payments Player, Beyonic

“MFS Africa, the pan-African payments gateway which connects wallets across different mobile money platforms through its API, has acquired Beyonic, a digital payments services provider for enterprises which operates in Ghana, Uganda, Tanzania, Kenya and Rwanda. As part of the acquisition, MFS Africa will absorb Beyonic’s entire team while Luke Kyohere, founder of Beyonic, will […]

On The Wires

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Companies

Mastercard and MTN Empower Millions of Consumers in Africa to Make Payments on Global Platforms – MTN Group

“Mastercard and MTN today announced a strategic partnership to enable millions of consumers in 16 countries across Africa to make global e-commerce payments safely and securely. Through a Mastercard virtual payment solution linked to MTN MoMo (Mobile Money) wallets, consumers and merchants can engage with brands and businesses abroad through digital commerce, extending their reach […]
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Companies

Mastercard Partners with Samsung, Airtel and Asante to Drive Digital Inclusion in Africa Through Pay-On-Demand Services

“Mastercard announced a partnership with Samsung, Airtel Africa and Asante Financial Services Group (“Asante”) to launch a Pay-on-Demand payments platform and drive the digital economy across Africa. Mastercard’s strategy is based on collaboration and partnerships that drive innovation and this is another example. By enabling digital access to everyday products and services for under-served consumers […]
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Global

Global Organizations Join the Mojaloop Foundation to Advance Financial Inclusion

“The Mojaloop Foundation today announced that India’s leading digital payments platform PhonePe and enterprise blockchain solution provider Ripple have joined as Sponsor members, the highest level of the organization. In their role as Sponsor members, they will join the Mojaloop Foundation Board of Directors and help provide the strategic vision, governance, and technical guidance to […]
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Companies

Mastercard Enables Small Businesses to Tap into the Booming Digital Economy

“Mastercard has launched a new low-cost payments solution that enables small business owners to move their businesses online and accept a range of digital payments from their customers. The “SME-in-a-Box” solution is powered by Mastercard’s payment technology and that of its fintech partners, including payments and agency banking solutions company SmartPesa, a Mastercard StartPath partner. […]