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
How the fintech boom is revolutionising financial inclusion
In recent years, Nigeria’s fintech sector has evolved at a rapid pace, introducing innovative digital solutions that are transforming the landscape of financial transactions. These fintech companies have disrupted traditional banking by offering convenient, user-friendly platforms that enable seamless transactions for both individuals and businesses. With the rise of Point-of-Sale (PoS) systems and digital payment platforms, many Nigerians, including those in rural areas, have gained easier access to financial services. ALAO ABIODUN explores how fintech companies are emerging as formidable rivals to Nigeria’s traditional banks.
For 42-year-old Mrs. Kemisola Akano, a market seller in the Ikotun area of Lagos State, partnering with a fintech firm, Moniepoint, has transformed her business operations. “Before now, I faced constant challenges receiving payments from customers. Some would make fake transfers, while others struggled with transferring to my regular account. Since I got Moniepoint’s point-of-sale (POS) machine, my business transactions have been seamless,” she said with relief.
Royal Group launches Comera Pay in the UAE
Comera Financial Holding, from the Royal Group of companies in Abu Dhabi, has launched Comera Pay, an all-inclusive suite of digital payment services in the UAE.
Comera Pay brings effortless payment solutions to individuals and businesses through a single secure, user-friendly app, accessible anytime, anywhere.
At the forefront of the UAE’s cashless economic vision, Comera Pay provides individuals with a range of services, from digital wallets and peer-to-peer (P2P) transfers to QR code payments, remittances, bill payments, mobile top-ups and virtual accounts.
Read more: https://www.zawya.com/en/economy/gcc/royal-group-launches-comera-pay-in-the-uae-cbpv4mon
Egypt wins first place in Arab FinTech Challenge in Dubai for the 2nd consecutive year
The competition is sponsored by FinTech Egypt powered by the Central Bank of Egypt.
It took place on the sidelines of the Expand North Star Dubai from 13 to 16 October. GITEX North Star is the world’s largest startup and investor event, held annually in Dubai.
EZRAALI seeks to connect suppliers, farmers, and traders through one digital application.
ShopeePay to Double E-Wallet Limit to Nearly RM10,000 for Verified Users From 4 Dec
ShopeePay is introducing an increased e-wallet limit for users who complete their electronic Know Your Customer (eKYC) process, starting 4 December 2024.
The new limit will allow users to store up to RM9,999, which is double the current maximum of RM4,999.
ShopeePay is a digital wallet offered by the e-commerce platform Shopee, enabling users to make online and in-person purchases, transfer funds to others, and withdraw money to their bank accounts.
Read more: https://fintechnews.my/46874/e-wallets-malaysia/shopeepay-ekyc/
How Cross-Border Payment Platforms Contribute to India’s Global Trade Ambitions
Cross-border trading, economic growth, and tech-driven payment solutions—these buzzwords are gaining momentum across industries faster than ever and are all interconnected. With changing consumer preferences and dynamic demand, India is sitting on a massive opportunity to attain the full potential of cross-border trade. This shift encourages businesses of all sizes—from established giants to emerging startups—to tap into global markets. Indeed, to make the most of this opportunity, the government, NBFCs, and financial service providers are rolling out a range of initiatives and products, all aimed at hitting an ambitious target: US$ 2 trillion in exports by 2030.
But here’s the catch—this goal isn’t just about scale; it’s about innovation. Without embracing modern solutions that streamline and drive global trade, achieving such aspirations will remain a distant dream. What widens this distance even further are the payment challenges businesses face in international trade. Traditional cross-border payment methods rely on correspondent banking relationships and secure communication networks. While international wire transfers are common, they often come at a hefty price—slow and expensive. Beyond that, businesses face long processing times, the risk of fraud, intermediary disruptions, currency fluctuations, hidden fees, and financial exclusion, making it tough to scale globally.
Latin America fintech will be a market to watch in 2025
Midway through 2024, Mike Packer, a partner at fintech-focused QED Investors, predicted we’d already hit the bottom for funding to Latin American fintech startups, and that a bounce back was coming. While momentum hasn’t been a straight shot up and to the right ever since, it’s looking like he was right.
The volume of venture capital dollars invested into fintech companies based in LatAm has already surpassed 2023 with another month left in the year. So far in 2024, $2.6 billion has been invested across 174 deals, according to PitchBook data. This compares to the $1.5 billion invested across 241 deals in 2023. While these aren’t huge totals, 2024 has already seen a 73% increase in funding volume compared to 2023.
Read more: https://techcrunch.com/2024/11/24/latin-america-fintech-will-be-a-market-to-watch-in-2025/
