SURE KAMHUNGA New report has implications for SA banks, shows rapid adoption of mobile technology is changing relationships and presenting new challenges. BANKS must keep up with technological developments to make it easier for their customers to use mobile banking, while regulators have to overcome concerns about privacy and security, says professional services firm KPMG.
Airtel money registers 10,000 agents in Tanzania
Airtel Money, formerly known as ZAP, a money transfer service, now boasts of over 10,000 agents countrywide. The company’s M-Commercial Director, Mr Kelvin Twissa, said over the weekend that “Airtel Money, mobile money is now becoming part of people’s daily life across the country”. “The service has been convenient to people of almost all walks
Why Banks Shun 30 Million Americans
The Christian Science Monitor They are 30 million consumers, representing a quarter of U.S. households, who earn a collective $1.3 trillion a year. But banks don’t want to serve them, because they lose money. And the nonfinancial institutions who do serve them may not be offering them much value in the long term. Welcome to
The role of messaging in driving banking services forward in Africa
Karol Nita, product marketer at MACH AfricanReview Despite the ubiquity of the mobile platform in today’s connected world, banking is an area which has traditionally lagged behind most markets. There are signs that this is changing on a global scale, with Berg Insight recently forecasting that the number of mobile banking users worldwide will grow
UBA introduces Africard in Zambia
Michael Malakata ITWEB The United Bank for Africa (UBA), the-pan African banking group, has introduced Africard in Zambia to promote online shopping and payments in the southern African country. The product is a prepaid Visa card that does not require a bank account, and can be used even by the poor and unbanked both in
Mobile phone money transfers race ahead of debit cards in Kenya
David Mugwe Four in five new cell phone subscribers are signing up for money transfer services, the latest industry data shows. The new statistics indicate that the handset has become a key tool for financial inclusion. The Communications Commission of Kenya attributed the preference for mobile money transfer platforms to the ease of enlisting for
Cashless Lagos underway in Nigeria
The Central Bank of Nigeria’s Cashless Lagos pilot project has begun in the former capital, aimed at reducing the amount of physical cash in circulation and increasing electronic commerce. The Bank’s pilot project, which kicked off on 1 January, will impose a cash handling charge on cash withdrawals or deposits exceeding N150,000 for individuals and
Uganda: Mobile Money Business Enters New Territory
Julius Businge Warid telecom, one of the telecom companies in Uganda has marked two weeks in the mobile money business registering success, a top official at the company has said. Shailendra Naidu, Warid’s commercial officer told The Independent in an interview that the facility (Warid Pesa) which was launched in December last year has so
Orange Money partnership grows network
Carole Kimutai. Orange Money has expanded its footprint with the opening of mobile money transfer outlets in all Nakumatt Supermarket branches countrywide. This is as a result of a partnership between Telkom Kenya and Pep Intermedius, a financial intermediary with exclusive access to all Nakumatt stores. During the signing of the partnership, the Chief Executive
Airtel launches mobile banking service in Ghana
Samuel Nii Narku Dowuona Airtel Ghana has rebranded Zap Mobile Money to Airtel Money and added a mobile banking feature, which is the first in the country. Zap was just a mobile money platform that allowed customers to transfer money to loved ones, and purchase or top-up Airtel credit, but Airtel Money creates a virtual
