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
Fawry and Ottu sign strategic collaboration agreement to drive unprecedented business growth in Egypt
Cairo, Egypt: Fawry, Egypt’s leading fintech company, has signed a pioneering Mutual Collaboration Agreement (MCA) with Ottu, the leading Online Payment Management System (OPMS) in the Middle East. Together, Fawry and Ottu aim to redefine Egypt’s online payment landscape, empowering businesses with innovative and efficient payment solutions, with Fawry being Ottu’s first partner in Egypt.
This strategic alliance creates a significant opportunity for businesses aiming to expand their operations across Egypt. By integrating Fawry’s leading payment infrastructure with Ottu’s advanced Online Payment Management System (OPMS), organizations can access flexible and secure payment solutions tailored to the evolving needs of this dynamic market. Leveraging Fawry’s extensive expertise in Egypt, this collaboration offers valuable local market insights, enabling businesses to streamline payment processes, enhance efficiency, and reduce operational costs while positioning themselves for growth in Egypt’s emerging economy.
Read more: https://shorturl.at/tnXAq
A look at Raenest, the Nigerian fintech that just raised $11M to tackle Africa’s remote work payment challenges
Get to know Raenest, a Nigerian startup that recently secured $11 million in Series A funding led by QED Investors, a prominent U.S.−based fintech venture capital firm.
The funding round, which also saw participation from Norrsken22, Ventures Platform, P1Ventures, and Seedstars, brings Raenest’s total funding to $14.3 million. The funding will be used to expand the company’s operations across Africa and beyond, with a focus on simplifying cross-border payments for freelancers, remote workers, and businesses, according to Tech Crunch.
Fintech offers seamless, user-friendly alternatives to traditional banking – Olomu, Routepay MD
Abayomi Olomu, the managing director and chief executive officer, Routepay Fintech Limited, has disclosed that financial technology (fintech) platforms offer seamless, user-friendly alternatives to traditional banking.
“People can make transfers, pay bills, buy airtime, and manage their finances all directly from their phones without visiting an ATM,” Olomu stated in relation to the Central Bank of Nigeria (CBN) new policy on additional Automated Teller Machines (ATM) withdrawal fees.
In highlighting digital banking options that could be explored to minimize the burden of extra charges, Olomu stated that Nigerians now have several digital banking channels including mobile banking apps, USSD codes for feature phones, internet banking, and mobile money services that could be used for transactions.
PalmPay partners with AfriGO to introduce five million contactless cards
PalmPay, the Nigerian fintech with over 35 million users, has partnered with AfriGO, the national domestic card scheme, to roll out five million contactless payment cards and tap-to-pay solutions across Nigeria, the company shared in a statement.
The move follows a similar partnership between Moniepoint and AfriGo, further aligning with Nigeria’s ongoing shift toward contactless payments.
The partnership comes one week after TechCabal reported contactless payment infrastructure provider CashAfrica partnered with PalmPay to roll out tap-to-pay functionality on its POS terminals. Both companies will kick off with 1,000 devices in a pilot phase before a nationwide expansion in March.
Read more: http://techcabal.com/2025/03/07/palmpay-partners-with-afrigo/
Revolut and Visa Challenge UK Proposal to Cap Interchange Fees
Revolut and Visa reportedly filed legal challenges against the U.K.’s Payment Systems Regulator (PSR), seeking to overturn the regulator’s proposed cap on interchange fees on cross-border online payments.
The two companies argue that the regulator overstepped its powers with the plan it proposed in 2023, the Financial Times (FT) reported Friday (March 7).
Revolut told the FT, per the report: “We disagree with the PSR’s assessment and believe it has acted beyond its statutory powers in imposing these caps. We have therefore requested the court to review, and ultimately overturn the PSR’s decision.”
Read more: https://www.pymnts.com/legal/2025/revolut-and-visa-challenge-uk-proposal-to-cap-interchange-fees/
