Talk360 announced the launch of NjiaPay on Tuesday, its new payment platform, which will function as a stand-alone business under the direction of a skilled group of fintech professionals. With 54 countries with disparate currencies, financial systems, and regional payment methods, NjiaPay seeks to address the intricate problems of Africa’s fragmented payment landscape. “We are […]

Airtel, a mobile phone service provider in Kenya, announced toll price payment options on Tuesday in collaboration with Moja Motorway Company, a Chinese company that oversees the 27.1-kilometre Nairobi Motorway. Through the partnership, Airtel Kenya’s mobile money service, Airtel Money, is presented as the newest and most practical means for motorway users to make payments. […]

Fintech firms such as OPay, Moniepoint, and others have begun deducting N50 Electronic Money Transfer Levy (EMTL) from transactions exceeding N10,000. The fintech firms assert that this deduction conforms with the requirement of the Federal Inland Revenue Service (FIRS) and that monies will be remitted to the nation’s tax authority. This required deduction is anticipated […]

On November 29, 2024, the Central Bank of Nigeria (CBN) announced a crucial directive for bank customers to report any difficulties faced while withdrawing cash from ATMs or bank branches, effective December 1, 2024. This program attempts to solve the persistent cash shortages that have irritated many Nigerians and afflicted the banking industry. The Central […]

Payless, a leading fintech company in Kenya, announced its innovative Bank-to-Payless transfer system on November 25, 2024. This new feature is designed to streamline transferring funds directly from bank accounts to Payless wallets, catering to the increasing demand for efficient digital payment solutions in the country.  With a daily transaction cap of Ksh 500,000 (approximately […]

United Bank for Africa (UBA) has secured a landmark deal to begin full banking operations in France, marking a significant milestone in its expansion strategy. The agreement was reached during the state visit of President Bola Tinubu to France on Thursday. Agreement signing activities witnessed by President Tinubu and Macron  Read also: Access Bank expands […]

Geidea, a prominent Middle Eastern supplier of digital payment solutions, is scheduled to introduce its ground-breaking SoftPos service in Egypt after a successful two-year rollout in Saudi Arabia and the United Arab Emirates. The company made the announcement on Wednesday. This growth is a major turning point in Geidea’s plan to propel digital change in […]

Kenyan fintech company VunaPay, which facilitates quick and seamless payments for farmers, emerged victorious at the Latitude59 Pitch Competition held in Nairobi. This achievement ensures VunaPay’s participation at Latitude59 2025 in Tallinn, Estonia, where it will compete against other global innovators in a renowned pitch competition. The Latitude59 Pitch Competition 2024 saw 382 candidates from […]

Access Bank Plc on Wednesday announced the successful acquisition of Standard Chartered Bank‘s subsidiaries in Angola and Sierra Leone. This strategic move enhances Access Bank’s footprint across Africa and strengthens its position in the corporate and SME banking sectors. Read also: Tranglo expands to Africa, brings cross-border payments to 7 nations Strategic expansion in Africa […]

Nigerian fintech firm Paystack has partnered with Opay to launch a new payment feature in honour of Stripe. This integration enables merchants to collect payments directly from millions of OPay accounts, making it cheaper and more effective than traditional methods. The integration is based on Paystack’s “pay with bank transfer” feature, which the company launched […]

BankservAfrica has announced a major upgrade to its real-time payment platform, PayShap, with the introduction of PayShap Request, a new feature that will allow individuals, businesses, and even informal merchants to request instant payments. This update, set to launch on December 2, is expected to transform interbank payments, offering a more seamless and efficient way […]

Safaricom PLC has received approval from the Capital Markets Authority-Kenya (CMA) to enter the Money Market Fund (MMF) sector with the launch of its new product, Ziidi, which will be integrated into its mobile money platform, M-Pesa. Amid ownership conflicts over its current Mali MMF, it partnered with Sanlam Investments East Africa, ALA Capital Limited, […]

Instead of being an external hacking incident as first reported, the alleged theft of $17 million from the Bank of Uganda (BoU) was likely an insider job involving collusion between officials at BoU, the Ministry of Finance’s Treasury department, and the Accountant General’s office, according to new investigations. Findings from an independent audit approved by […]

Tranglo, a prominent cross-border payment centre, announced its expansion into Africa on Tuesday. This expansion will process payments in Ethiopia, Kenya, Liberia, Madagascar, Mali, Senegal, and Zambia. This strategic expansion provides convenient, cheap cross-border payment solutions to one of the world’s fastest-growing economic regions to increase financial inclusion. Read also: AfriGO, OPay’s alliance to transform […]

AfriGO Card, powered by Afrigopay Financial Services Limited (AFSL), a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS), announced a strategic partnership with OPay on Tuesday. This is a significant development that aims to expand digital payment options across Nigeria. This partnership will improve financial inclusion, lessen Nigeria’s dependency on foreign currency, and empower local […]

Visa on Monday announced that 19 African startups have been selected for the third cohort of its Visa Africa Fintech Accelerator program. These startups, representing 21 countries and spanning sectors such as embedded finance, SME lending, and digital banking, highlight the continent’s vibrant fintech landscape. Empowering female leadership One of this cohort’s most notable characteristics […]

Femi Hanson, a former Opay employee, has been appointed as the new head of marketing and public relations for Palmpay‘s Nigerian affiliate. Palmpay is a pan-African fintech company that operates in three nations, with Nigeria being its largest market. With five years of fintech marketing experience, Hanson previously oversaw the marketing departments of two Nigerian […]

PAL Africa is transforming the financial landscape in francophone Africa by bridging traditional banking with the modern financial system. As an e-money distributor and liquidity provider, PAL has emerged as a reliable player in the remittance and business payments markets. The company guarantees that African businesses can operate efficiently and at minimal costs, offering a […]

Hurupay, a leading financial services company, has introduced its Virtual USD Accounts, allowing users to open a dollar-denominated bank account similar to a traditional bank without the hassles of leaving their homes. Hurupay CEO Philip Mburu made the announcement on his LinkedIn page on Saturday. Hurupay Virtual USD accounts allow users to receive USD payments […]

Remitly and Airtel Tanzania have partnered to make money transfers across the nation more convenient. Customers may now take advantage of Airtel’s extensive network in both urban and rural locations by sending money directly to their Airtel wallets. The partnership aims to improve ease and accessibility in Tanzania’s expanding remittance sector. “We’re working to make […]