The Nigerian Postal Services (NIPOST) has partnered with Nigeria’s leading electronic and switching payment company, eTranzact International Plc, to increase access to epayment services in Nigeria. The partnership with NIPOST is in line with eTranzact’s mission to provide convenient epayment services to Nigerians. According to the Director Business Development, eTranzact International PLC, Sullivian Akala, the
Nedbank lags in cellphone banking
STUART THEOBALD BusinessDay Nedbank is trying to open up a long-neglected market for its products by embracing M-Pesa a SMS cash transfer service with Vodacom. WHEN launching a new service, do you offer it to your existing customers or use it as a way to hook new customers? That’s the question banks have been
Pensioners to receive monthly dues via Orange Money
Integrated mobile provider Telkom Kenya has today signed a partnership with Telposta Pension Scheme that will see the pensioner’s body dispatch its members’ dues through the revolutionary Orange Money service instead of using the conventional banking services. Telkom Kenya’s Deputy CEO Jane Karuku said the partnership extends the convenience Orange Money brings, to
Over 700 Million Mobile Money Users in Emerging Markets by 2015
According to a new research report by Berg Insight, the number of mobile money subscribers in emerging markets is forecasted to grow from 133 million users in 2010 at a compound annual growth rate (CAGR) of 40 percent to reach 709 million users in 2015. The total value of Mobile Money transactions will simultaneously grow
WOCCU Proceeds with Haiti Mobile Money Initiative
One day, most if not all people living in Haiti should be able to conduct financial transactions on their cell phones thanks to an initiative currently underway by World Council of Credit Unions (WOCCU). The innovative Haiti Mobile Money Initiative (HMMI), a partnership between the Bill & Melinda Gates Foundation (Gates Foundation) and the U.S.
Vodacom, Nedbank to reinvent M-Pesa
Gugulethu Mfuphi Why Vodacom’s M-Pesa has gotten off to a slow start in SA. JOHANNESBURG –Despite Vodacom (JSE:VOD) and Nedbank (JSE:NED)’s mobile money platform M-Pesa failing to live up to their expectations for the product in SA they believe they can change this. Grant Brewer, Ernst & Young IT Advisory Leader, reckons the slow uptake
Mobile Money Innovation Draws World Attention
Mukhisa Kituyi The Brookings Institution in Washington has been playing host to a top-level conference effectively celebrating Kenya. Governors of central banks, top executives from The World Bank, State Department, US Treasury, White House, Bill and Melinda Gates Foundation, and leading universities assembled to examine how to expand financial inclusion using new technologies. Yet, at
Ghana and Nigeria poised for mobile banking revolution
West Africans will soon start to experience the benefits of mobile banking, bringing on board millions of people that have been excluded from financial services. The AITEC Banking and Mobile Money conference will next month bring to Accra the world’s top experts on mobile banking just as several countries in the region are merging their
SOUTH AFRICAN PAYMENT INNOVATION BRIDGES BOTH DEVELOPING AND DEVELOPED WORLD
Seamless remittance transfers battle it out with NFC and eWallets says mimoney designer Payment innovation in South Africa bridges the imperatives of both the developing and developed world. This is the view of Ngoni Simelane, head innovation of mimoney and INSTANT MONEY payment solutions, powered by Standard Bank. “While there is a drive in the
GTBank Inaugurates Mobile Money Services with MTN.
As part of efforts to render efficient services to customer, Guaranty Trust Bank (GTBank) Plc has introduced a mobile money product in a world-class partnership with MTN to the Nigerian Market. The Acting Managing Director of GTBank, Mr. Segun Agbaje, said Thursday that the introduction of the product was pursuant to an approval-in-principle granted by
