Ecobank Uganda and Ria Money Transfer partner for cross-border transfers
Ecobank Uganda has formed a strategic partnership with Ria Money Transfer, a renowned global leader in cross-border remittance services. This partnership will significantly improve remittance options across Uganda, allowing customers to receive funds directly into their Ecobank accounts.
Both account holders and non-account holders will also have the option to collect cash transfers promptly at any Ecobank branch or through the bank’s wide sub-agent network across the country.
Commenting on the partnership, Grace Muliisa, managing director of Ecobank Uganda (right), said “there is a growing need to provide seamless financial solutions to Africans in the diaspora. We are excited to collaborate with Ria Money Transfer to enhance the security and efficiency of remittance services for all Ugandans.”
Kenyan SMEs Rapidly Adopting Digital Payments to Fuel Growth – Mastercard SME Confidence Index
Small and medium enterprises (SMEs) in Kenya are rapidly adopting digital payments, leveraging technology, and forming strategic collaborations to drive business growth and resilience, according to the latest Mastercard SME Confidence Index.
With 91% of SMEs in Kenya embracing digital payment solutions, businesses are enhancing efficiency, improving customer experiences, and strengthening financial stability. The shift toward cashless transactions reflects a growing priority for secure payment ecosystems and broader financial inclusion.
Read more: https://tech-ish.com/2025/02/24/kenyan-mastercard-sme-confidence-index/
NBC signs bilateral cooperation MoU with Central Bank of Madagascar
The National Bank of Cambodia and the Central Bank of Madagascar signed a Memorandum of Understanding in Phnom Penh on 18 February 2025 on the cooperation between the two central banks.
The bilateral Memorandum of Understanding was signed by Her Excellency Dr. cheaserey, Governor of the National Bank of Cambodia, and His Excellency Hon. Aivo H. Andrianarivelo, Governor of the Central Bank of Madagascar. At the signing ceremony, which was attended by senior officials from both central banks, H.E. Hon. Aivo H. Andrianarivelo, Governor of the Central Bank of Madagascar, praised the development of the Cambodian economy and banking system, especially the payment system and the accumulation of international reserves. His Excellency also expressed optimism for the cooperation with the National Bank of Cambodia, which will bring mutual economic and social benefits.
UK court approves $200m Mastercard settlement
In December, Mastercard reached a deal with the man behind the case, Walter Merricks, to settle the years-long litigation, which was brought on behalf of tens of millions of Brits over credit card fees.
However, the litigation funder Innsworth Advisors, challenged the settlement saying that it undervalued the claim. Initially, the case was estimated to be worth around £10 billion.
The Competition Appeal Tribunal has now approved the settlement, calling it “just and reasonable” even if “very disappointing” compared to the original claim.
Read more: https://www.finextra.com/newsarticle/45552/uk-court-approves-200m-mastercard-settlement
The Evolution of Payment Methods in South African Online Casinos
Historically, players relied on traditional banking methods such as credit and debit cards for transactions. While these methods are still prevalent, they often come with challenges like processing delays and higher fees. The integration of fintech solutions has introduced alternative payment methods that address these issues, offering enhanced security and convenience.
E-Wallets and Mobile Payments
Digital wallets, including Skrill and Neteller, have become popular among South African gamblers. These platforms allow for instant deposits and withdrawals, providing a seamless gaming experience. Additionally, local solutions like Ozow and SiD Secure EFT enable players to perform real-time bank transfers without exposing sensitive financial information. These services are tailored to the South African market, ensuring compatibility with local banks and offering user-friendly interfaces.
Trust Bank Now the Fourth Largest Retail Bank in Singapore With 1 Million Users
Trust Bank has announced it has reached 1 million users, meeting its target of becoming the fourth largest retail bank in Singapore.
The digital bank, backed by Standard Chartered Bank and FairPrice Group, has seen strong customer adoption, with over 70% of customers joining through referrals from existing users.
The bank reported revenue growth of more than double in 2024, reaching S$97 million, while reportedly keeping cost increases only slightly above inflation.
Read more: https://fintechnews.sg/108074/digital-banking-news-singapore/trust-bank-1-million-users/
ECB plots new platform for DLT transaction settlements with central bank money
The platform forms part of the central bank’s “two-track approach” to refining transaction speed and will be linked to Target Services, part of the ECB’s existing infrastructure for payments.
The central bank has not disclosed an official timeline for development, instead stating that “a concrete time plan will be announced in due course”.
Part two of this approach will see the ECB explore “a more integrated, long-term solution for settling DLT-based transactions in central bank money”, aiming to include international transactions like foreign exchange settlements.
