South Africa will apply for a full banking licence for its postal bank by year-end, the communications minister said on Monday, a move that will increase competition in the banking sector. The country’s banking sector is dominated by the so-called “Big Four” banks, Standard Bank, Absa, Nedbank and FirstRand. “I am confident … that Postbank
How we managed Nigeria’s largest Mobile Payment pilot – Henry Nwawuba
MMA: Background of Fortis MobileMoney. Fortis MM is a sister company of Fortis Micro finance Bank, a three year old company that operates out of Abuja, the Federal capital of Nigeria with 11 Bank Branches. Our focus as a Micro finance Bank is to provide financial services to customers excluded from the financial ecosystem in
Invitation to Nigeria’s first Mobile Payment cooperative agency
Central Bank of Nigeria finally licensed 10 organizations to provide mobile payment services in Nigeria middle of August,2011.Some of the firms are Fortis MobileMoney, Afripay, GTBank and seven others. Thousands of agents are required to provide service points all across Nigeria in coming weeks to serve the customers, provide cash in / cash out,
M-PESA SCHEME WILL HELP PLIGHT OF MALNOURISHED CHILDREN IN KENYA
Concern worldwide,an international humanitarian organisation dedicated to tackling poverty and suffering in the world’s poorest countries,has set up an aid initiative in the slums of Nairobi to combat the sharp increase in severe malnutrition in slums. Concern Operates in the urban slums of Nairobi and Kisumu, and their urban nutrition project addresses the rising
First National Bank app now available on BlackBerry Curve
One of South Africa’s top four banks, First National Bank (FNB), has announced that its successful mobile banking application is now available for download on the majority of BlackBerry smartphones. Users of the popular BlackBerry Curve and Bold series will also be able to download the app which was featured as app of the
ICICI announces mobile access of online money transfer tracking service in India
ICICI Bank Limited has announced that its online money transfer tracking service, Money2India.com, can be accessed anytime, anywhere through mobile phones with GPRS connection. With this user-friendly accessibility through GPRS enabled mobile phones, Non-Resident Indians (NRIs) can now easily track exchange rates, as well as track their money transfer request status and place new
Absa and Vodacom form mobile financial services partnership
The South African bank and mobile network operator have signed a multi-milliion rand cooperation deal. “The project is expected to lead to developments in the near field communication arena and usher in a new era of convenience for the customer,” says Absa. Absa, South Africa’s largest retail bank, has signed a multi-million
More Workers Now Paid By Mobile in SA
Since its launch in July 2010, First National Bank’s corporate clients have used Pay Wallet to send over R42-million directly to the mobile phones of more than 19000 South Africans, with the service now growing at an average monthly rate of 35%. Pay Wallet is an extension of FNB’s eWallet, which allows FNB
Kenya to be Africa’s fourth most banked economy by 2020
Kenya is poised to become the fourth most banked economy in sub-Saharan Africa by 2020, predicts a report by the Economic Intelligence Unit, a London-based economic forecasting firm. The country’s asset base is expected to more than triple to $48 billion within the next decade, from $15 billion last year. But Tanzania
Application to wean mobile money off SIM card
PATRICK GITHINJI Mobile Phone payments are quietly shifting from the being traditionally dependent on SIM cards to mobile applications. The decision by Orange Kenya last week to allow its subscribers to send and receive money through two mobile phone applications such as Java (J2ME) and WAP, is
