Mastercard & Smile ID to Advance ID Verification Across Africa
Mastercard is expanding the scope of its cooperation with SmileID to accelerate the use of advanced identity verification tools for customer onboarding across the African continent.
Africa
Global Payments Revenue to Reach $2.4T by 2029
Although annual revenue growth is expected to slow from 8.8% to 4.0% within the next five years, global payments revenue is still forecast to increase to $2.4 trillion by 2029, as agentic AI, digital currencies, and fintech business models boost the growth.
Mobile Money Accounts Surpass Traditional Bank Use in Low Income Countries
Mobile money is one of the main drivers of financial inclusion in low-income economies where such financial accounts surpass traditional bank ones.
First Pan-African Card Scheme Launches to Boost Cross-Border Payments and Strengthen Intra-African Trade
Afreximbank, PAPSS, and MPS unveiled PAPSSCARD – the first Pan-African card scheme aiming to make retail payments across African borders fast, secure, and affordable.
Kenya Enters the Digital Asset Era with Launch of KDX by DeFi Technologies, SovFi, and NSE
Kenya Digital Exchange (KDX) will enhance the country‘s financial market infrastructure by offering a secure and fully regulated way to tokenise real-world assets.
PayPal & TerraPay To Power Real-Time Cross-Border Payments Across MENA
Together, PayPal and TerraPay aim to make cross-border transactions across the Middle East and Africa faster, easier to use and more accessible.
Affinity Africa Raises $8M to Expand Affordable Banking for Individuals and MSMEs
Affinity Africa, a Ghana-based digital banking platform, raised seed funding to provide affordable and accessible financial services to underserved and unbanked individuals and micro, small, and medium enterprises (MSMEs).
Ecobank & Nium to Unlock Real-Time Cross-Border Payments for African Markets
Collaboration with Nium will allow Ecobank’s 32 million customers to access faster and more efficient international transactions without complex integrations.
Mastercard Expands Product Express Platform for Card Issuance
Mastercard is expanding its Product Express platform across Africa, the Middle East, Europe, North America, and additional markets in Latin America, enabling fintechs to launch card programs with speed, simplicity, and full transparency.
Vodafone and Google Deepen Strategic Partnership to Expand GenAI Services Across Europe and Africa
Vodafone will expand access to Google’s AI-powered Pixel devices with its fast 5G network and offer Google One AI Premium subscription plans, which include Gemini Advanced, in select territories by 2025.
Mastercard and KaiOS to Deliver Affordable Payment Acceptance Devices to African SMEs
Mastercard latest collaboration aims to enable businesses to leverage digital tools more easily, promoting financial inclusion by using affordable mobile devices powered by KaiOS.
JPMorgan Seeks to Expand in Africa and Scandinavia
JPMorgan Chase, the largest bank in the United States, is currently stepping up efforts to expand its business globally, intending to form an enhanced presence outside the domestic market.
Yellow Card & Fireblocks to Streamline Cross-Border Payments in Africa
Pan-African fintech and stablecoin platform Yellow Card integrates Fireblocks wallet to improve cross-border transactions for both businesses and individuals in Africa.
Leading Fintech Companies in Tanzania
Tanzania’s fintech sector is experiencing a rapid advancement, driven by a combination of increasing mobile phone penetration, the introduction of innovative financial tools, and a regulatory environment that is supportive of these endeavors.
VC Breega Hits First Close of $75 Million Africa Fund
The Paris-based venture capital firm Breega is setting up a $75 billion fund to invest in early-stage startups in Africa.
Ethiopia Intends to Allow Foreign Lenders to Acquire Local Banks
Ethiopia’s Council of Ministers has approved a bill according to which foreign financial institutions are granted the right to acquire stakes in the banks of this African country.
Welcome to PaySpace Magazine, the ultimate destination for staying informed about the most recent financial and payments news from Africa. Our news platform is designed to provide comprehensive coverage of the ever-changing African market, offering valuable insights into crucial areas such as banking, fintech, mobile payments, and more. Explore our content to access the latest trends and innovations, as well as exciting opportunities that are shaping the financial industry in Africa. Join us on this journey as we delve deep into the dynamic landscape of African finance, bringing you all the essential information in one convenient place.
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