Payments News

On The Web

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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 […]
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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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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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On The Wires

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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. […]