Browsing: Mobile Banking

Discovery Bank offer its customers a multicurrency foreign exchange account, a platform to buy and trade shares, and discounts on their travels, highlighting its focus on attracting more business people.

The EasyEquities investment portfolios integrate directly into Discovery Bank’s Vitality Money programme, automatically counting towards the client’s Vitality Money status.

On September 30, 2022, Discovery Bank announced several new products and changes at its annual product update event with financial advisors. However, the CEO Hylton Kallner said that the new features will be made available from October and through the first quarter of 2022 on a phased basis.

According to Business Tech, Discovery Bank clients can use the Discovery Bank app to transact and trade in real-time in these currencies. With the Multicurrency FX Account, clients can also receive international payments and choose to pay in more than 60 currencies, Kallner said.…

Cellulant Partners with Orange Money for Wallet Transfers in Botswana.

Customers can also buy airtime and access other mobile network operator services using their Visa or Mastercard debit and credit cards through Tingg, Cellulant’s digital payments platform.

Tingg by Cellulant is at the forefront of ensuring digital financial solutions are available across the continent. Tingg, which integrates 211 banks in Africa, is a one-stop payment aggregator for multinational corporations, mid-caps, and small and medium-sized enterprises (SMEs).

Tingg enables merchants to receive, view and reconcile all their payments through a single platform or their system by integrating Tingg’s Application Programming Interfaces (APIs), eliminating the need to subscribe to multiple providers’ payments and, in the case of mobile money, mobile network operators (MNOs) and banks.…

South Sudan’s pioneer mobile money platform m-GURUSH has ventured into international money transfer business.

This is an innovative feature from that seeks to enable customers to conveniently send money across Africa and beyond. The service will benefit m-GURUSH customers, especially the business and trading communities sending funds from South Sudan to Kenya, Uganda and the greater East African region.

According to a statement from the firm, the service was launched by the Governor of the Bank of South Sudan Hon. Jamal Wani Abdalla. The customers will be able to send this money digitally in form of US Dollars or South Sudanese Pounds from their m-GURUSH account from the comfort and safety of their homes.

The international remittance service will enable m-GURUSH registered customers to send and receive money to several countries across the globe using mobile money.

“The service will be particularly beneficial to the South Sudanese living in East …

Mobile money transactions can help African farmers create a creditworthiness profile to help them get funding. The integration of digital technology into agriculture represents a major opportunity for Africa and food security on the continent

While digital lenders in Kenya have agreed that Kenyans indebted to more than one mobile lending application will no longer continue accessing loans from multiple lenders, the tables are turning.

In what could be a silent coup against these lenders, Kenyans feel that the tactics used by some of them to recover debt are overboard and breach barriers which should not be broken.

The Digital Lenders Association of Kenya’s (DLAK) desire is to have Credit Reference Bureaus (CRB) put in place a mechanism that will enable DLAK’s members to acquire a borrower’s credit history in real-time. The target is to lock out borrowers with poor credit scores if the proposal sails through.

Hostile treatment

However, while this has been done, borrowers feel that some of the lenders have been going overboard and even breaching privacy in their loan recovery mechanisms.

According to Ajua, an Integrated Customer experience company, Kenyans want …

Even as mobile penetration continue to grow, the East Africa region is still sluggish in technology innovations especially in the insurance sector.

The region is considered as Africa’s Silicon Savannah with a high mobile penetration, home grown digital financial innovations like M-PESA that is now being exported in other countries and a fast growing tech start –up ecosystem.

Statistics indicate that about $63.6 billion is transacted in aggregate in a single year on mobile money platforms in the East African Community (EAC) countries. This corresponds to 46 percent of the total GDP of the EAC in the most recent statistics.

Mobile is a key factor in the region’s start-up ecosystem where many tech start-ups now use the technology as the primary platform to create solutions that address various socioeconomic challenges.

According to the GSM Association, a trade body that represents the interests of mobile network operators globally, over half of …

Vodacom Tanzania has posted a strong full year results driven by Data and M-Pesa services.

In its preliminary results for the year ended 31 March 2019. The company achieved a 5.4 per cent growth in service revenue, reaching TZS1,018.9 billion ($443.389 million), driven by strong growth in M-Pesa, mobile data and messaging revenue demonstrating its ambition to pioneer inclusive growth through financial inclusion and connectivity.

According to a statement from Vodacom, the firm maintained market leadership as the number 1 mobile and financial service operator in Tanzania with 14.1 million customers- a growth of 9.6 per cent, increasing its market share to 32.4 per cent. Leadership in mobile money grew to 38.6 per cent reaching 7 million M-Pesa users transacting over TZS4.1 trillion ($1.784 billion) monthly.

Vodacom’s Managing Director, Hisham Hendi said, “The M-Pesa platform continues to open up opportunities for Tanzanians to earn a living registering 620,000 new customers, …