Ozow said the API-based approach removes the need for customers to share banking credentials or complete manual EFT processes. South African fintech company Ozow has partnered with First National Bank (FNB) and Rand Merchant Bank (RMB) to launch a payment API designed to improve account-to-account payments by replacing traditional electronic fund transfer (EFT) processes with direct…
Many cross-border transactions still rely on the US dollar as an intermediary currency. At the same time, African currencies are often difficult to exchange directly, and few mechanisms exist for countries to settle payments with one another in local currencies. Cross-border payments in Africa remain among the most expensive in the world, despite the rapid…
Yoco provides card payment solutions and point-of-sale systems for SMEs. South African fintech firm Yoco is set to introduce a new artificial intelligence (AI)-powered assistant, Yoco AI, as part of a wider strategy to ease administrative workloads for small businesses, enhance decision-making and support growth. The company teased the upcoming offering at its Unfair Advantage…
Monnify processed ₦25 trillion, or about $18.3 billion, in transaction volume in 2025 as Nigerian businesses continued to rely on digital payment infrastructure. The payment gateway, which operates within Moniepoint Inc.’s technology arm TeamApt, recorded 38% growth in transaction volume compared with 2023. The growth came during a period marked by currency volatility, higher costs…
For South Africa’s merchants and lenders, the most important question at the end of each month is a simple one: can customers actually pay? Behind every card swipe, debit order and instalment sits a household balance sheet under strain – and for the businesses that depend on those transactions clearing, reading the resilience of those…
Will customers be able to pay? (Image: Altron FinTech) For most of South Africa’s merchants, the question that matters at the end of each month is deceptively simple: will customers be able to pay? Behind every swipe, debit order and instalment lies a household balance sheet under pressure – and for the businesses that depend…
Only 23% of South African consumers would trust an AI agent to complete a purchase on their behalf, according to new research from Visa, even as the payments company prepares technology that would let software shop, compare prices and pay with no human involved. The finding, released at a media roundtable in Sandton on Tuesday,…
Nonhlanhla Mdletshe, executive for cash for product at Absa Business Banking South Africa’s banking sector is likely to undergo significant change as the industry moves towards faster payments, shared infrastructure and greater interoperability, according to Nonhlanhla Mdletshe, executive for cash product at Absa Business Banking. Speaking to ITWeb, Mdletshe said the shift towards real-time payments…
Eventhive, Africa’s leading B2B2C event servicing company with a strong portfolio across key sectors and six major cities, is excited to announce the second edition of Payments Live as part of Africa Tech Series. The event is scheduled to take place on Friday, 26 June 2026, at Investec, Sandton, Johannesburg. Payments Live is the premier…
Willie Engelbrecht, director of solutions architecture at Interfile. Many organisations across Africa are focusing heavily on payment processing technologies, but the real challenge lies in what happens after a payment is made, according to Willie Engelbrecht, director of solutions architecture at Interfile. Engelbrecht argues that while the African payments industry has spent the past decade…
