Flutterwave Expands Payment Solutions in Ghana with Pay With Bank Transfer Integration
Flutterwave, recognized as Africa’s premier payments technology company, has made significant strides in expanding its presence in Ghana by integrating a new payment option: Pay With Bank Transfer. This initiative is in collaboration with Affinity Bank, marking a pivotal development in the region’s payment landscape.
In 2023, Ghana recorded over 115 million bank transfer payments, underscoring the growing popularity of this payment method. By enabling businesses that utilize Flutterwave to accept payments through bank transfers, this integration facilitates a seamless transaction experience. While Mobile Money has traditionally dominated the payment scene in Ghana, the introduction of Pay With Bank Transfer signifies a notable shift in the country’s payment ecosystem, reflecting changing consumer preferences and technological advancements.
Varying licensing fee regimes leave investors unsure of banking costs
Banking investors in East Africa are still subjected to a varying licensing fee regime, with greater implications on the cost of banking services despite efforts by regional monetary authorities to harmonise banking laws and regulations, to bolster the implementation of the single currency regime, the third pillar of regional integration after the common market and the customs union.
Data by the regional Central banks show investors seeking to set up banking operations in the region are still paying different licensing fees despite efforts to promote the region as a single investment destination in line with the broader East African integration agenda.
Read more: https://shorturl.at/ybOrV
IMF Integrates Cryptocurrencies into Global Balance of Payments
The International Monetary Fund (IMF) has officially included Bitcoin and other virtual currencies in its newly updated Balance of Payments Manual (BPM7), a major step toward the global acceptance of virtual currencies. Bitcoin falls under the category of non-produced non-financial assets, whereas authorities categorize other crypto tokens from underlying platforms like Ethereum and Solana under the equity holding category.
This follows a growing recognition from global institutions of the expanding reach of cryptocurrencies. What started out as an experiment in 2009 has turned into a multi-trillion-dollar market, piquing the interest of governments and financial institutions globally. The recent efforts of the Trump administration to promote the use of blockchain, such as its intention to merge USAID with blockchain technology and create a crypto reserve, have further catalyzed institutional interest.
Read more: https://www.livebitcoinnews.com/imf-integrates-cryptocurrencies-into-global-balance-of-payments/
Banks and Fintech need stronger collaboration to achieve financial inclusion-Mr Quayson
Mr. Ebo Quayson, the Executive Director of Retail and Commercial Banking at Prudential Bank has called for stronger collaboration between traditional banks and FinTechs to achieve stronger financial inclusion for Ghanaians.
He said even though there exist some form of collaboration, traditional banks and FinTech operators needed to do more and be deliberate about joining forces to ensure more Ghanaians were onboarded to enjoy seamless financial services in the country.
Mr Quayson was speaking as a panel member at the 15th Africa Bank 4.0 Summit West Africa Edition held in Accra. Participants were drawn from the banking and fintech industry, financial services regulators and other financial services to discuss ways of collaboration to ensure financial inclusion for all.
Africa Crypto Week in Review: Kenyan Youth Urged to Join Binance Academy, Cameroonian Digital Lending Platform Explores Stablecoins as Memecoin Group Hacks South African Parliament
Binance Kenya is pushing education, Azamra tap stablecoins for lending in Cameroon crypto, meme coin stunt disrupts crypto Africa.
Educational efforts by Binance, a crypto giant and fintech lending firm in Cameroon crypto industry, and outrageous SA meme coin promotional attempts made headlines.
Such is the breadth of weekly events that can unfold in the exciting yet tumultuous African crypto landscape. This beehive of activity highlights a continent that is both growing rapidly in importance as a crypto market and adapting to the realities this industry brings.
Read more: https://shorturl.at/kM2K0
PRESS RELEASE: World’s Best Bank Awards 2025 – Africa
Global Finance has announced its 32nd annual awards for the World’s Best Banks. The honorees for 36 countries, territories and districts in Africa are presented here. The overall regional winner is Ecobank.
A full report on the selections will appear in the May print and digital editions of Global Finance as well as online at GFMag.com. Winners have been chosen in nearly 150 countries, territories and districts across Africa, Asia-Pacific, the Caribbean, Central America, Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe. The May report will also feature selections for the Best Islamic Financial Institutions, the Best Banks by US Region and the World’s Best Banks by Region.
“Global banking continues to adapt and evolve, meeting challenges and capitalizing on opportunities with resilience and innovation. AI has quickly taken a pivotal role in the transformation of banking, and its growth promises to reshape the financial sector at an unprecedented pace,” said Joseph D. Giarraputo, founder and editorial director of Global Finance. “Global Finance’s Best Bank Awards honor financial institutions that excel in diversity of offerings, long-term stability, and technological innovation.”
Read more: https://gfmag.com/news/press-release-worlds-best-bank-awards-2025-africa/
Viamericas lunches cash-to-cash money transfer service
This new service improves how customers send and receive money within the United States, with funds available for cash pickup at any participating Viamericas location.
Viamericas’ cash-to-cash service is designed to support a wide range of customer needs, from assisting loved ones with bill payments to providing financial help for essential expenses. The person-to-person nature of these transfers makes the process simple, efficient and personal, ensuring that money reaches those who need it most when they need it.
Customers can visit any Viamericas agent location to send cash, and the recipient can pick up funds quickly and conveniently at another participating agent location. The service provides a reliable alternative for individuals who may not have access to traditional banking services or who prefer the immediacy of cash pickups.
Read more: https://www.finextra.com/pressarticle/104893/viamericas-lunches-cash-to-cash-money-transfer-service
E-payment platform for more hassle-free business transactions soon
An electronic payment platform is being developed for ease of doing business transactions, President Dr Irfaan Ali revealed on Saturday. He was delivering remarks at the sod-turning ceremony for the new Campbellville Polyclinic.
“We are working now on the implementation of the electronic payment platform, a mobile payment platform where you can be in the one of the deepest mining companies and you can make a payment for a part in Georgetown on your mobile phone,” President Ali announced.
He further elaborated that users will able be able to make bill payments on the platform and that government ministries and agencies will also be linked for payment of services. He did not provide further details on when the platform will be rolled out.
Read more: https://newsroom.gy/2025/03/23/e-payment-platform-for-more-hassle-free-business-transactions-soon/
