Canada-Africa Fintech Summit – Canada-Africa Fintech Convergence – Nurturing Talents, Fueling Growth, Forging Cross-Border Prosperity for Sustainability
For more info., check here: www.cafsummit.com
Mastercard Expands in Senegal With New Prepaid Card Launch
Mastercard Incorporated MA recently collaborated with a Senegal-based fintech firm, New Africa Technology (NAT), in a bid to launch a virtual and physical prepaid card tied to NAT’s digital wallet, “Flash.”
Transactions through the wallet can be done using both virtual and physical prepaid cards, and a seamless payment experience is assured. It incorporates features like invoice splitting among multiple users, expense management, and budgeting tools. The app also works seamlessly with regional wallets, allowing for smooth transactions between users.
The innovative fintech card introduced with the help of Mastercard aims to bolster merchant support by facilitating payment acceptance via innovative methods such as QR Pay, Pay by Link, and contactless transactions. Additionally, it introduces “Flash in Business,” a platform tailored to meet the corporate financial needs of businesses.
Airtel Tanzania and Remitly Join Forces to Enhance Money Transfer Services
Remitly has collaborated with Airtel Tanzania to help make sending money in Tanzania more convenient. With this collaboration, the customers can now send money directly to Airtel Tanzania wallets, with the recipient able to access the funds quickly.
More options, same trust. Airtel Tanzania is a major player in Tanzania, currently serving over 19.4 million customers, making it one of the leading telecom providers in the country. By teaming up with Airtel, we’re offering more ways to send money while tapping into a growing remittance market. For our customers this means greater accessibility and convenience, due to Airtel’s wide reach across both urban and rural areas.
At Remitly, we’re proud to build partnerships that make a real difference in your life. Our collaboration with Airtel Tanzania is part of our ongoing effort to bring more convenience to you and your family, while strengthening our role as your trusted money transfer service.
Digital payment systems in Africa grow by 37% – 2024 SIIPS Report
Digital payment systems in Africa have grown by 37% in transaction volume over the past five years, reflecting a major shift in the continent’s financial ecosystem. ‘
This is according to the 2024 SIIPS Report, launched in Accra on Wednesday November 20, 2024.
The report also reveals that there are 31 operational Instant Payment Systems (IPS) across 26 countries, with 27 more nations preparing to roll out similar systems.
Despite this progress, the report highlights persistent challenges in achieving financial inclusion, particularly for women and other vulnerable groups, who face barriers such as fraud concerns and limited recourse mechanisms.
Africa’s embedded finance market projected to grow to $39.8 billion by 2029 – report
Embedded finance is revolutionising how financial services are accessed across Africa. Integrating tools like payments, credit, and insurance into everyday platforms, brings financial solutions closer to consumers in innovative ways. A recent report by Finextra Research, The Future of Embedded Finance in Africa 2025, explores the immense potential of this trend, alongside the challenges it must overcome to thrive on the continent.
Besides that, the report projects that Africa’s embedded finance market will grow from $10.3 billion in 2024 to $39.8 billion by 2029. Such growth reflects the continent’s readiness to embrace innovative financial solutions, especially as mobile phone penetration increases.
Central Bank of Brazil to pilot CBDC trade finance solution with Chainlink, Microsoft, 7COMm and Banco Inter
The Central Bank of Brazil (BCB) has teamed up with a host of industry players to develop a trade finance solution for phase two of its central bank digital currency (CBDC) pilot Drex.
The selected developers include Brazilian digital bank Banco Inter, blockchain platform Chainlink, Microsoft Brazil and 7COMm, a solutions provider focused on digital transformation.
Participants will collaborate on automating supply chain management and other trade finance processes by combining blockchain technology and oracles into a single solution.
2025’s Biggest Fintech & Payments’ Trends Unveiled by Juniper Research
HAMPSHIRE, United Kingdom, Nov. 21, 2024 (GLOBE NEWSWIRE) — Juniper Research, the foremost experts in the fintech and payments market, is proud to reveal the 10 trends that are poised to transform the financial landscape in 2025.
