Payments News

On The Web

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Global

Nigeria’s Largest Mobile Operator Is About to Become a Bank

“The fledgling mobile money market in Nigeria is about to get a major shake-up. MTN Nigeria, the country’s largest telecoms operator, has been granted a “super agent” license which allows it set up an agent network through which it can provide financial services. It’s the first step in MTN’s plans to finally roll out mobile […]
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Companies

Flutterwave and Alipay Partner on Payments Between Africa and China

“San Francisco and Lagos-based fintech startup Flutterwave has partnered with Chinese e-commerce company Alibaba to offer digital payments between Alipay and African merchants. Flutterwave is a Nigerian-founded B2B payments service (primarily) for companies in Africa to pay other companies on the continent and abroad… “This means that all our merchants can accept or install Alipay […]
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Global

Africell to Spend $100 Mln on Mobile Infrastructure, Fintech in Africa

“African telecom firm Africell plans to spend part of a $100 million U.S. credit line on expanding its infrastructure and fintech services, its chief executive said on Friday. The 18-year-old company, which has 15 million subscribers across its four African operations, secured the loan in May from the Overseas Private Investment Corporation (OPIC), the U.S. […]
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Deals

Mastercard to Join Investors in Online Retailer Jumia : The Standard

“Jumia Technologies AG said Mastercard Inc has agreed to invest Sh5.6 billion (50 million euros or $56 million) in a private placement ahead of the Africa-focused online retailer’s planned initial public offering in New York.The US credit-card giant joins shareholders such as French drinks maker, Pernod Ricard SA, which bought a 5.1 per cent stake […]
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Global

African fintech firm Flutterwave launches SME e-commerce portal

“San Francisco and Lagos-based fintech startup Flutterwave has launched Flutterwave Store, a portal for African merchants to create digital shops to sell online. The product is less Amazon and more eBay — with no inventory or warehouse requirements. Flutterwave insists the move doesn’t represent any shift away from its core payments business. The company accelerated the […]
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Deals

African payment startup Chipper Cash raises $13.8M Series A

“African cross-border fintech startup Chipper Cash has closed a $13.8 million Series A funding round led by Deciens Capital and plans to hire 30 new staff globally. The raise caps an event filled run for the San Francisco based payments company, founded two years ago by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled.“
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Global

Uber Africa launches Uber Cash with Flutterwave and explores EVs

“Uber is launching its Uber Cash digital wallet feature in Sub-Saharan Africa through a partnership with San Francisco-based — Nigerian-founded — fintech firm Flutterwave. The arrangement will allow riders to top up Uber wallets using the dozens of remittance partners active on Flutterwave’s Pan-African network. Flutterwave operates as a B2B payments gateway network that allows […]
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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 […]