Despite important progress in diversity, the payments industry continues to face a persistent gender gap. These statistics are not abstract, they directly affect how talent is developed, how innovation is nurtured and how the payments ecosystem evolves. Addressing this gap is both a moral responsibility and a strategic imperative. Across tech and payments, women continue…
Emanuela Saccarola. Image: LinkedIn The successful modernisation of a country’s domestic payments infrastructure onto faster, instant payment rails like South Africa’s PayShap does not always translate into similar success in the cross-border payments space – and regulation is often a bottleneck. Speaking to TechCentral in an interview on Wednesday, Emanuela Saccarola, head of global cross-border…
From left: Stephen Britto, CFO and Kosta Scholiadis, founder and CEO of Street Wallet. Cape Town-based fintech start-up Street Wallet has raised R6.2 million ($350 000), at a valuation of over R34 million ($2 million), to accelerate its mission of bringing SA’s street vendors and SMEs into the digital economy. This is according to Kosta…
PayInc CEO Stephen Linnell The Competition Commission in August recommended to the Competition Tribunal that the South African Reserve Bank’s proposed acquisition of a 50% stake in payments clearing house PayInc – previously BankServAfrica – be approved without conditions attached. The move radically changes the ownership structure of PayInc, the developer and manager of rapid…
Instant payment systems promote transactions for everybody, without the confines of traditional bank accounts. Interoperability between mobile money and traditional bank accounts will serve as a key lever for financial inclusion for the millions of Africans excluded from payment systems. This can be further enhanced by regulatory harmonisation efforts at a regional level. These were…
Bankserv Africa – now PayInc – CEO Stephen Linnell Automated clearing house and settlements hub BankservAfrica on Thursday announced a major refresh of the company’s brand, changing its name to PayInc to align itself with shifts in the local payments landscape. The move goes well beyond a name change, however, and marks a significant shift…
The Competition Commission has recommended that the Competition Tribunal approve the South African Reserve Bank’s proposed acquisition control of BankservAfrica – and has done so without attaching any conditions. The transaction will see the central bank take sole ownership of the payments clearing house, which plays a critical role in processing interbank transactions. BankservAfrica is…
South Africa’s top banking executives and finance minister Enoch Godongwana have held discussions on the potential fallout if Washington were to impose sanctions on the country, according to a report by Sowetan on Monday. The talks, which took place at a recent Banking Association of South Africa board meeting, reportedly centred on concerns that US…
Nedbank has acquired Durban-based payments fintech iKhokha in an all-cash deal valued at R1.65 billion. This acquisition is a significant move for Nedbank, as it looks to strengthen its support for small and medium-sized enterprises (SMEs) in South Africa. Read: Bandwidth Blog & Smile 90.4FM Tech Tuesday: iPad Pro and VR? “The acquisition is a…
South African travel-focused fintech TurnStay has raised $2 million in seed funding to expand across African markets The round was led by First Circle Capital and joined by TLcom Capital, Enza Capital, Incisive Ventures, CVVC, and Equitable Ventures The startup operates a merchant-of-record structure combined with payment orchestration, allowing card payments to be processed in…
