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Digital identity experts, Lucy Yang & Kaliya Young explain the journey and value of the Modular Open Source Identity Platform (MOSIP) in providing governments with ‘open’ tools to build foundational ID systems.
digital identity, digital wallet, EIDAS, verifiable credentials, data protection, decentralized identity
UK-based fintech company Leatherback has entered a strategic collaboration with YES BANK to allow simplified remittance and INR payouts in India.
mobile payments, online payments, cross-border payments, remittance, money remittance
Kenya-based telecommunications company Safaricom has augmented its M-PESA platform, through a partnership with Onafriq, to offer remittances to Ethiopia.
remittance, money transfer, mobile payments, expansion, growth markets
Commercial bank of Ethiopia has lost more than USD 40 million after a systems glitch which let customers withdraw and transfer sums of money that was not in their accounts.
ATM, mobile banking, online banking, cash, banking
Cooperative Bank of Oromia has launched CoopApp and CoopApp Alhuda on Temenos Digital (Infinity) for a digitalised conventional and Islamic banking experience.
digital banking, Islamic banking, partnership, financial inclusion
Dickson Nsofor, founder and CEO of Kora Technologies, provides insights into how to break down barriers to cross-border ecommerce payments in Africa.
cross-border payments, ecommerce, fintech, payments infrastructure, API, regulation, banks
The Paypers has researched and analysed the most prolific partnerships that defined and built resilience within the payments & commerce and banking & fintech sectors in Q3 2023, from payments infrastructure, BNPL, the proliferation of Tap-to-Pay, the surge of Open Banking tech, and overall digitalisation attempts for banking and financial services.
payments , paytech, partnership, The Paypers Quarterly Analysis series, ecommerce, fintech
The Red Cross in Denmark has partnered with fintech company, Inpay, to reach more countries for emergency aid funding.
partnership, cross-border payments, money transfer, funding
African Export-Import Bank (Afreximbank) and China Development Bank have signed a USD 400 million loan to support Africa’s SMEs.
SMEs, SME lending, partnership, financial inclusion, trade finance
Safaricom has announced plans to launch M-Pesa in Ethiopia by the end of September 2023 will have it integrated with more banks.
mobile payments, product launch, expansion, financial inclusion, cashless
Ethiopia-based Dashen Bank has partnered with Mastercard to launch a multi-currency international prepaid card, marking a milestone in Ethiopia’s card business.
partnership, product launch, payments , paytech, fintech, cross-border payments, ecommerce, FX , prepaid card, online payments
Switzerland-based software company Netcetera has invested in its digital banking offerings and in the expansion of its product portfolio in the region.
expansion, product upgrade, mobile payments, online payments, digital payments, mobile banking, digital banking, online banking
In the wake of the FTX meltdown from November 2022, governments and financial regulators from around the world are working on regulating crypto.
regulation, compliance, cryptocurrency, digital assets, crypto asset, crypto
Ethiopia-based Zemen Bank has partnered with Switzerland-based software company Netcetera to augment its online payments offering.
Netcetera, online payments, ecommerce, PCI DSS, fraud prevention
Nigeria-based fintech Flutterwave has received its payment services provider and payments facilitator licences in Egypt, which enable its expansion into North Africa.
PSP, payments aggregator, payments , B2B payments, cross-border payments, payment processor, expansion, digitalisation, settlement
The International Monetary Fund (IMF) has proposed an increase in regulation and better consumer protection in Africa’s cryptocurrency market.
regulation, cryptocurrency, CBDC, crypto asset
Mauritius-based fintech EFT Corporation has partnered with ACI Worldwide to shield their customers from fraud.
fraud prevention, PCI compliance, EFT, ACI Worldwide, risk management, transaction monitoring
Sudan-based Bloom, a fintech that offers savings account and adjacent digital banking services, has raised a USD 6.5 million seed round.
fintech, funding, product launch, digital banking, mobile banking
Egypt-based fintech OPay has teamed with Mastercard to increase financial inclusion by opening up ecommerce to people across Middle East and Africa.
MasterCard, partnership, financial inclusion, digital wallet, virtual card, ecommerce
UK-based fintech Verto has announced the increase in the number of supported currencies for conversions and payments.
FX , digital wallet, expansion, product upgrade, API, digital payments