Navigate and Comply with Regulations with Ease through International Standards and Industry Frameworks: Fostering a Culture of Transparency and Accountability – West Africa Webinar
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Navigate and Comply with Regulations with Ease through International Standards and Industry Frameworks: Fostering a Culture of Transparency and Accountability – East Africa Webinar
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South Africa’s Happy Pay raises $1.8 million to boost growth and expand offerings
- Happy Pay, a South African fintech that offers Buy Now, Pay Later (BNPL) has secured R32 million ($1.8 million) in pre-seed funding.
- E4E Africa and 4Di Capital co-led the funding round with participation from DotExe Ventures, Launch Africa, Equitable Ventures, Felix Strategic Investment, U.S.-based Gaingels, and local angel investors.
- Also, Fin Africa (formerly Finclusion Group), a company that provide credit, savings, insurance is backing the fintech’s debt facility.
With this development, Happy Pay plans to launch several innovative products, boost marketing, and expand Happy Pay’s merchant base. The company also intends to strategically expand its team while focusing on efficient growth.
Read more here: https://techpoint.africa/2024/09/17/south-africas-happy-pay-raises-funding/
Africa: Mastercard unpacks tailor-made financial solutions for region
How has technology and innovation contributed to promoting financial and digital inclusion in Sub-Saharan Africa, and what role does Mastercard play in this process?High mobile phone and internet penetration in Africa have enabled mobile money and fintech to fiourish, providing unbanked populations with access to financial services.
As a global technology company committed to driving impact in Africa, Mastercard collaborates with like-minded partners to enhance financial inclusion.
With telecommunication companies such as MTN, we accelerate the mobile money ecosystem. With financial institutions such as Access Bank, we expand access to cross-border remittances and e-commerce payments. We also work with governments to promote digital payments adoption.
Read more here: https://www.zawya.com/en/economy/africa/africa-mastercard-unpacks-tailor-made-financial-solutions-for-region-tbil5brb
JP Morgan CEO Jamie Dimon to Visit Kenya Amid License Delay
JP Morgan Chase CEO Jamie Dimon is set to visit Kenya next month, as part of a broader African tour aimed at expanding the bank’s footprint on the continent, Reuters first reported.
- Dimon’s visit, his first in seven years, will include stops in Kenya, Nigeria, South Africa, and Ivory Coast.
- The trip comes at a time when JPMorgan is accelerating its growth plans in Africa, despite facing regulatory challenges in Kenya.
- In February 2023, JPMorgan announced the opening of its new regional office in Nairobi, located at the iconic GTC Office Tower in Westlands.
The office is positioned as a strategic hub to oversee the bank’s operations in East Africa, with a focus on serving U.S. multinationals, wealth funds, and educational institutions expanding into the region.
Read more here: https://kenyanwallstreet.com/jp-morgan-ceo-jamie-dimon-to-visit-kenya-amid-license-delay/
Experts Meet in Kenya to Promote Use of Fintech to Spur Intra-African Trade
The 11th edition of the Africa Fintech Summit brought together more than 200 participants composed of senior government officials and financial services industry executives from across the continent to review ways to expand the use of digital technologies to enhance trade among African countries.
Wamkele Mene, the secretary general of the African Continental Free Trade Area (AfCFTA) Secretariat, said fintech is one avenue to increase the level of intra-African trade, which is estimated at 15 percent compared to 70 percent within the European Union and 60 percent in Asia.
“Fintech companies are transforming Africa’s financial services by enabling previously unbanked business people to engage in seamlessly cross-border trade,” Mene said.
India’s Digital Payment Revolution: A Decade of Unprecedented Growth
India’s digital payment landscape has seen remarkable growth over the past decade.
According to a recent report by PwC India, retail digital payments have surged 90-fold over the last 12 years, with transaction volumes expanding at an impressive annual rate of 40%, while the value of these transactions increased by 35% each year.
This impressive growth has been driven by various factors, the report says, including the swift expansion of digital infrastructure, the widespread popularity of the United Payments Interface (UPI) and other digital payment instruments, as well as changing consumer preferences towards digital transactions.
Read more here: https://fintechnews.sg/101317/fintech-india/indias-digital-payment-revolution-a-decade-of-unprecedented-growth/
Cybersecurity emerges as key driver of FinTech growth worldwide
A recent study from UnaFinancial has identified cybersecurity as the most influential factor driving the development of FinTech worldwide, with a 63% significance. The second most impactful factor is the average hourly wage rate, with a 13% significance.
The study showed that FinTech growth in Europe, America, and globally has the strongest correlation with the size of the cybersecurity market, with correlation coefficients of 0.8714, 0.9762, and 0.8607, respectively.
Read more here: https://ibsintelligence.com/ibsi-news/cybersecurity-emerges-as-key-driver-of-fintech-growth-worldwide/
Monzo brings monthly payments to Apple Pay purchases
Monzo Flex customers with iOS 18 and iPadOS 18 will have the option to pay in full or spread the cost over multiple months directly at the point of purchase in Apple Pay. Customers will be able to use this when shopping online using Apple Pay and in-app on iPhone and iPad.
This allows customers to see the monthly payments, understand total cost including any interest and choose how they’d like to repay before completing their purchase.
Kunal Malani, general manager at Monzo, says: “Our customers love using their Flex credit card with Apple Pay and we’re thrilled to be the first bank to bring this feature to Apple Pay users in the UK. Now our customers are able to choose their monthly payments — right at checkout with Apple Pay when using their Monzo Flex credit card. This brings an even more convenient experience for our customers when shopping online.”
Read more here: https://www.finextra.com/newsarticle/44738/monzo-brings-monthly-payments-to-apple-pay-purchases
