Big payments change in South Africa
South Africa’s payment landscape is undergoing a significant transformation, driven by evolving consumer behaviour, technological advancements, and new business models.
Because of this, several key trends are emerging that redefine how customers transact and businesses operate in South Africa.
These were some key findings of Network International’s 2024 Payfast State of Pay report, which unpacks “the convergence of commerce – an industry-defining trend that is set to drive consumer convenience and merchant efficiency to new heights.”
Read more: https://businesstech.co.za/news/business/800570/major-shift-for-payments-in-south-africa/
Interswitch Advocates Developer-led Fintech Evolution
As a platinum sponsor of the 2024 Google Developer Groups (GDG) DevFest Ibadan, Interswitch reaffirmed its commitment to empowering developers with the tools and opportunities they need to innovate and shape the future of financial technology.
The event, hosted at the Aweni Arena in Ibadan, brought together a diverse audience of tech enthusiasts, industry leaders, and developers to explore cutting-edge topics such as artificial intelligence, cloud computing, and mobile app development. This year’s DevFest emphasised collaboration and practical solutions, aligning with Interswitch’s mission to foster a developer-centric ecosystem.
“At Interswitch, we recognise the pivotal role developers and tech communities play in driving innovation across the continent. Sponsoring GDG DevFest Ibadan 2024 aligns perfectly with our mission to equip these communities with the tools, platforms, and opportunities they need to innovate, collaborate, and succeed. We are committed to promoting a vibrant ecosystem that accelerates Africa’s digital transformation while nurturing the next wave of innovators shaping the future of fintech in Nigeria and beyond,” he said.
Read more: https://leadership.ng/interswitch-advocates-developer-led-fintech-evolution/
Redefining Financial Technology in Africa through Advanced Analytics
Africa’s financial sector is undergoing a transformative shift, driven by the rise of predictive analytics—a cutting-edge technology that is redefining how financial institutions evaluate creditworthiness and expand their services. This innovative approach represents a new chapter in the continent’s economic evolution, offering a powerful solution to the long-standing challenges of financial exclusion. Among the innovators pushing boundaries in this field is Nigerian technology expert Stephen Azeez, whose insightful work in advanced predictive analytics is about charting a new course for financial accessibility and inclusion across underserved communities.
By pioneering models that leverage alternative data and advanced algorithms, this not only addressing systemic barriers but also unlocking opportunities for millions who were previously excluded from traditional banking systems. This contributions are setting a new benchmark for how technology can drive equitable economic growth across Africa.
Read more: https://techbullion.com/redefining-financial-technology-in-africa-through-advanced-analytics/
How ChitChat Launched into Global Remittances
ChitChat, an African social commerce platform, recently announced the launch of its new remittances feature, which enables seamless cross-border money transfers across 13 countries worldwide.
This feature expands the financial services users can access from within a chat conversation and increases the functionality of the multicurrency ChitChat wallet and USD virtual debit card.
ChitChat is a social commerce platform that enables users across Africa to chat with each other over an encrypted platform.
Read more: https://techeconomy.ng/how-chitchat-launched-into-global-remittances/
The European Instant Payments Regulation (IPR): A game changer for fintech startups?
The European Instant Payments Regulation (IPR), formally known as Regulation (EU) 2024/886, represents an important step ahead for the EU’s payments ecosystem. By requiring Payment Service Providers (PSPs) to offer instant credit transfers in euros under clear and fair conditions, the IPR accelerates Europe’s shift toward real-time payments.
For startups in the financial ecosystem, the IPR represents a dual-edged sword—introducing transformative opportunities alongside operational and compliance challenges. As Europe aligns with global leaders like Brazil’s Pix and India’s UPI, the regulation paves the way for a competitive, inclusive, and interconnected payments environment, redefining the future of financial services within the EU.
New Canada Carbon Rebate Payment Coming on January 15
As the new year begins, Canadians can look forward to a fresh round of federal benefits to ease financial burdens—most notably, the next Canada Carbon Rebate payment scheduled for January 15, 2025.
This quarterly payment, managed by the Canada Revenue Agency (CRA), aims to offset the cost of federal pollution pricing and provide much-needed relief to households across eight participating provinces.
If you’re eligible, you could see this benefit deposited directly into your bank account in just a few days.
Read more: https://immigrationnewscanada.ca/canada-carbon-rebate-payment-january-2025/
