Strandling Exponential Performance with Stringent conformance – the Fintech Dilema
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Alliance for Innovative Regulation (AIR) Invites Participants for Virtual TechSprint to Combat Digital Payment Fraud in West Africa
The Alliance for Innovative Regulation (AIR) has opened registration for a virtual TechSprint focused on addressing the growing challenge of digital payment fraud in West Africa. The event will bring together a diverse group of stakeholders, including technology companies, consumer protection agencies, payment service providers, innovators, regulators, and subject matter experts. As the digital economy continues to expand, West Africa has seen rapid adoption of digital payment systems. This growth has also created new vulnerabilities, leading to an increase in fraud, which threatens consumer trust and security. AIR’s TechSprint will create a unique platform for participants to innovate and develop solutions that can help mitigate payment fraud, ensuring safer digital financial ecosystems in the region.
Originally adapted from hackathon methodologies to meet the needs of government entities and financial regulators, TechSprints are collaborative problem-solving sessions that aim to facilitate innovation through a competitive team format.
WigWag adds buy now, pay later option
WigWag, a payment provider catering to SMEs and mid-market enterprises, now integrates Happy Pay’s buy now, pay later (BNPL) service at checkout. Both companies are fintech startups and have formed this partnership to offer the payment method to the South African e-commerce market.
Customers can split payments into two interest-free instalments over two months, providing flexibility without requiring a deposit, while merchants benefit from an affordable solution. Merchants also gain from guaranteed weekly payments and a dashboard.
Read more: https://gadget.co.za/wigwagpay656w/
How fintech firms can navigate tough regulatory environment – Legal expert
Nigeria’s fintech sector, recognised for its innovation and role in promoting financial inclusion, faces significant challenges that threaten its growth.
Despite its importance for economic development, industry leaders are increasingly concerned about rising obstacles.
To tackle this concern, Davidson Oturu, a legal expert, is set to unveil “Fintech Law and Practice in Nigeria,” a comprehensive guide aimed at helping fintech firms navigate the intricate regulatory environment.
Interswitch calls for innovative local currency payment solutions at Nigerian Fintech Week
LAGOS- Interswitch Group, one of Africa’s leading integrated payments and digital commerce companies, has reiterated the need to develop local currency payment solutions to drive inclusive growth and enhance cross-border trade across Africa.
Speaking at the recently concluded Nigerian Fintech Week, held at the Landmark Event Center, Victoria Island, Lagos, where Interswitch was a sponsor, Akeem Lawal, Managing Director, Payment Processing and Switching (Interswitch Purepay), emphasised the importance of building robust infrastructure that enable African businesses to transact seamlessly across the continent.
During his keynote speech titled “Leveraging Commerce to Accelerate Inclusive Growth – The Role of African Fintech Innovation,” Lawal addressed the challenges posed by current payment systems that rely on non-African intermediaries for intra-African transactions.
Alchemy Pay partners with Yellow Card to expand crypto access in Africa
Alchemy Pay has announced a new partnership with Yellow Card, a fintech company operating across 20 African countries.
The partnership between the global fiat-crypto payment gateway and Yellow Card aims to make it easier for people in Africa to access cryptocurrency by using familiar payment methods like bank transfers and mobile money, according to a company release.
This collaboration will help people in countries like South Africa, Rwanda, Uganda, and others use their local currencies to buy crypto more easily.
Read more: https://crypto.news/alchemy-pay-partners-with-yellow-card-to-expand-crypto-access-in-africa/
Ripple readies for stablecoin launch
RLUSD will launch on the XRP Ledger and Ethereum blockchain, offering support for instant payments, fiat to crypto conversion and the tokenization of real-world assets.
Each RLUSD token is 100% backed by US dollar deposits, US government bonds, and cash equivalents. To ensure full transparency, Ripple will publish monthly, third-party audited attestations of reserve assets conducted by BPM.
At launch, RLUSD will be available globally for institutions and users on major global exchanges and platforms, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. Market makers, such as B2C2 and Keyrock, have also been brought onboard to drive liquidity and encourage broader adoption.
Read more: https://www.finextra.com/newsarticle/44878/ripple-readies-for-stablecoin-launch
