PalmPay, a leading fintech platform in Nigeria, is marking its 4th birthday by starting a campaign to give away ₦300 million. Nigerians who use the payment site can win big cash prizes through the initiative. The event started on November 1, 2023, and will end on November 21, 2023. It has three fun stages, each […]

Airpay, the integrated financial services platform, has officially launched its services in Tanzania. This expansion reflects the company’s commitment to leveraging technology to promote socio economic development, aligning with the Memorandum of Understanding (MoU) between India and Tanzania. Airpay has been granted a Payment Services License by the Bank of Tanzania (BOT). Read also: Mambu Financial […]

The National Library of Nigeria (NLN) has unveiled an AI-powered e-library platform called ‘Boldscholar’ to address issues related to pirated works of Nigerian authors and enhance access to their books. The platform aims to leverage technology to improve the visibility of Nigerian authors and provide economic benefits to writers and publishers. Read also: Kenya introduces first […]

Oluwapelumi Yusuf won the first MTN MoMo Hackathon in Nigeria. Yusuf won the $5,000 grand prize for coming up with Rova Pay, which uses MoMo APIs and has features beyond financial transactions. With Rova Pay, customers can easily make purchases anytime, anywhere, using automated USSD, which eliminates the need for internet access and typing in […]

It has been confirmed by sources at various neobanks that customer transfers to neobanks such as OPay, Moniepoint, Palmpay, and Kuda are once again being processed by Nigerian Fidelity Bank. It was also stated that the bank had prohibited customer transfers to the concerned neobanks around two weeks ago due to mounting concerns regarding fraud […]

At the 13th Africa Bank 4.0 Summit 2023, the prestigious Digital Lending Company of the Year award was bestowed upon Branch Nigeria, a market leader in the digital lending industry. In addition to this remarkable accomplishment, the managing director, Dayo Odulate-Ademola, was honoured with the title Best CEO of the Year for West Africa. The […]

On the first day of the Digital Nigeria Conference, which was hosted by NITDA, the central theme focused on how emerging technologies may propel Nigeria. Speakers and panellists addressed how Nigeria could propel itself even further. The conference was held in Lagos. The National Information Technology Development Agency, Nigeria’s IT regulatory agency, recently kicked off […]

Neobanks such as OPay, Palmpay, Kuda, and Moniepoint have been prohibited by Fidelity Bank, a commercial bank in Nigeria, due to concerns that the neobanks’ lax know-your-customer (KYC) procedures are leading to an increase in the number of fraudulent instances. According to various sources with firsthand knowledge of the situation, the Nigerian commercial bank Fidelity […]

Vella Finance, a fintech company located in Lagos, has decided to discontinue its crypto-based products in order to concentrate on providing services to small and medium-sized businesses.  The financial technology company sent out an email to its customers and subscribers on Monday, October 23, to inform them that they will be discontinuing all of their […]

Nigeria Fintech Week 2023 (#NFW23), which was much anticipated, has started.  For three days, it will bring together thousands of financial and fintech fans and leaders from over 80+ countries. The #NFW23 event is widely regarded as Africa’s premier gathering for the financial technology industry. Leaders from traditional financial institutions, government officials, and global investors […]

Africa has shown a tendency towards the adoption of new technology, particularly in the field of financial services. With about eight out of ten people on the continent possessing mobile phones and more than 570 million people expected to be online in 2022, a 470% increase from 2010, it is now much simpler to access […]

Bitnob, a major financial firm located in Nigeria, is ecstatic to announce its ground-breaking integration with the Universal Money Address (UMA) standard. As a result of this ground-breaking decision, Bitnob has become the first business in Africa to implement this game-changing payment system. UMA, which has been referred to as an “email address for money,” […]

Unified Payments, a prominent financial technology service provider in Nigeria, has introduced a groundbreaking e-commerce gateway service in partnership with Compass Plus Technologies, a payment gateway platform. This strategic alliance marks a significant milestone and further strengthens the 18-year collaboration between these two tech companies, propelling Unified Payments to new heights. Unified Payments proudly announced […]

Africa’s largest integrated payments and digital commerce company, Interswitch, reaffirmed its long-standing commitment to fostering the expansion of the digital payment ecosystem at the TechConnect 3.0 event that was recently conducted at The Lekki Coliseum in Lekki, Lagos, on October 12, 2023. At the TechConnect 3.0 event, experts from the fintech industry, as well as […]

Technology has transformed Nigerian banking in the past decade. Opay, PalmPay, and Moniepoint have made business operations more accessible and more efficient for everyone, challenging traditional banks. Cash payments and insufficient web infrastructure prevented enterprises from expanding beyond local demand before this disruption. Fortunately, payment and banking systems have expanded business opportunities beyond their local […]

Flutterwave and Microsoft have just established a strategic technological relationship that will last for five years. Flutterwave plans to create its next-generation platform on Microsoft Azure as part of the newly formed relationship. The company’s overarching objective is to expedite payment innovation in Africa and, as a result of this, to speed up the expansion […]

Moniepoint Inc, Africa’s top digital financial services provider, has announced that it has been included in the sixth annual CB Insights’ Fintech 100 ranking (formerly known as the Fintech 250), which showcases the 100 most promising private fintech businesses of 2023. This announcement comes after Moniepoint Inc. made the same announcement last year.  The most […]

The Cameroonian fintech Koree was crowned winner of the sixth annual Ecobank Fintech Challenge. Out of the more than 1,490 fintech companies that participated in the competition, Koree stood out.  Koree was established by Magalie Gauze-Sanga, who also serves as the company’s CEO, with the intention of resolving the problem of inadequate small change in […]

Nairagram, which is licensed as an international money transfer operator, has introduced a revolutionary new international payment service that is intended to improve financial connectedness.  This service addresses FX liquidity challenges in the country by simplifying and improving the process of sending money from Nigeria to other countries. As a result, it fosters financial empowerment […]

An innovative partnership between Equity Bank Uganda and Mastercard has been officially established. This will lead to a focused effort to promote financial inclusion among Uganda’s digitally excluded people, communities, and businesses.  A memorandum of understanding (MoU) was signed to formalize the relationship. The two organisations aim to use technology to help underserved and marginalised […]