FINTECH

The Chief Executive Officer, 9PSB, Branka Mracajac has stressed the importance of Payment Service Banks (PSBs) in supporting the country’s financial inclusion drive. She declared that PSBs offer last mile delivery of financial solutions to the unbanked, under-banked and underserved who in most cases are neglected due to geographical and …

The National Information Technology Development Agency (NITDA) has entered into a strategic partnership with the Federal Competition and Consumer Protection Commission (FCCPC) to address the increasing rates of data privacy abuse by money lending operators, particularly fintech. This is according to a statement signed by Mrs Hadiza Umar, Head, Corporate …

Positioned as a torchbearer for inclusive digitization, Africa’s leading payment cards & token business, Verve has thrown its support behind the Federal Government’s efforts to create a robust digitization framework for comprehensive identity management for Nigerians. The Nigerian government ramped up its digital identity management campaign to ensure a proper …

Paystack, a US-based fintech company, has announced it is launching Pay with Apple Pay on its platform. The company is now a payment gateway in Nigeria, which support Apple Pay. Doing so gives Nigerian businesses access to Apple Pay users in the more than 60 countries where the payments service …

MTN Group has announced the appointment of Burak Akinci as Chief Executive Officer of Simfy (ayoba), reporting to the MTN Group Chief Digital and Fintech Officer Serigne Dioum and responsible for the super app digital services, ayoba. Effective 1 September 2021, Burak joins Africa’s leading mobile operator from Turkcell, where …

To create harmonious relationships in the financial technology space, there is a need for clarity of regulations from the regulators to the players in the fintech sector. Clarity of regulations, according to experts in the space, would not only ensure stability, bridge knowledge gaps, but also help avoid unnecessary frictions …

The pan-African banking group, Ecobank group, is inviting African Fintech entrepreneurs to join the 4th edition of the Ecobank Fintech Challenge. The Fintech Challenge is in line with the Bank’s commitment to championing digitization by giving innovative African start-ups the opportunity to promote their fintech solutions. The start-ups can potentially …

…Two Billion Adults Lack Access to Formal Financial Services Restrictions on movement and reduction in the handling of physical cash because of the COVID-19 pandemic caused mobile money transaction volumes in sub-Saharan to reach $490bn in 2020, Visa has said. This was a 23 per cent increase from 2019, according …

The Central Bank of Nigeria has released a regulatory framework for mobile money services, saying it will not adopt the model in which telecommunications companies are the drivers. In a document titled ‘Regulatory framework for mobile money services in Nigeria’, the apex bank said, “This regulatory framework addresses business rules …

Global payments giant Visa recently reported that more than $1 billion was spent by Visa users on products and services through cryptocurrency-linked cards globally in the first six months of the year 2021. While disclosing over $1 billion in crypto spending in the first half of 2021, the company noted  …