SURE KAMHUNGA BusinessDay Cellphones, contactless cards to replace cash transactions as next-generation technology comes to the fore THE day is coming when a cellphone will replace the bank card in the same way that electronic transfers have made the chequebook an obsolete payment method. Ultimately, banks predict a future where the customer will use a
Category Archives: South Africa
Econet announces it has reached more than 1 million connected EcoCash users
L.S.M Kabweza TechZim Econet Wireless, Zimbabwe’s largest telecoms firm, announced today that it has surpassed the 1 million mark in ‘connected’ users for its EcoCash mobile money service. The milestone, the company says in the announcement (a thank you to its subscribers), “has been achieved in record time and is the fastest growth of such
FNB integrates mobile banking with Facebook
ITNEWS AFRICA FNB today announced that its customers can now buy FNB Vouchers using Cellphone Banking and send to friends on Facebook. FNB Vouchers on Facebook is another first by a bank in South Africa. FNB Vouchers are targeted at the Facebook users in South Africa. This innovative product enables FNB customers registered for Cellphone
Closing arguments in mobile money patent infringement case
Barry Bateman The North Gauteng High Court in Pretoria on Monday heard closing arguments in a patent infringement case. Tech-development company 3M Future Africa accused Standard Bank and MTN of stealing their idea and passing it off as their own. In court, arguments centred on the functionality of the system and whether it infringed on
South Africa: Firm Up for Mobile Innovation Award
South African mobile services company Oltio has been nominated in the “best mobile money innovation” category at the annual GSMA Global Mobile Awards for its payD platform, which turns a user’s mobile phone into a remote point-of-sale device. Oltio is a joint venture company between pan-African mobile network operator MTN and Standard Bank. Through the
Buy electricity using your cellphone in Swaziland
MBABANE – Consumers will now be able to buy electricity vouchers through their mobile phones using the Mobile Money (MM) service. Swazi MTN has already made it possible for people to enjoy this convenience and can purchase electricity vouchers of any amounts that are offered by Swaziland Electricity Company (SEC). During the tour of the
Standard Bank’s INSTANT MONEY money transfer solution shows strong growth
Standard Bank’s INSTANT MONEY money transfer solution shows strong growth Money transfer sector in SA expected to boom in 2012. Amid reports of failing currencies and economies, as well as the credit crunch, South Africans are sending money home – stacks of it. That’s if the current growth of Standard Bank’s INSTANT MONEY transfer product
MobiPay secures DBN financing in Namibia
The Development Bank of Namibia (DBN) says that MobiPay, a recipient of DBN finance, is simplifying and improving life for Namibians and their communities by developing transaction systems for mobile devices. The dream of establishing MobiPay was born when partners in Aantu Investments, Amos Shiyuka, Claus Deckenbrock, Sedrick van Turah and Dee Sauls, saw similar
FNB’s bank App gets R1.5bn in deals
Since the launch of its Banking Application (App) on the 20th July 2011, the first and only transactional banking App in South Africa, First National Bank (FNB) has seen over R1.5billion in transactions via the Banking App. “Since launching six months ago, we have 100,000 active clients, far exceeding our expectations. It has been one
FNB’s mobile eWallet available to non-account holders
South African consumers will now be able to use their cellphones to shop and do banking – even if they don’t have a bank account. This is as a result of a partnership between First National Bank and retail store PEP which makes the bank’s eWallet money transfer solution available at PEP stores countrywide. CEO
