Telecoms firm Orange is planning to launch a set of mobile payment services in Botswana and other countries in Africa and the Middle East, which it says will easy access to funds around the clock and bring new point of sale, online and ATM transaction options to customers.
Western Union has launched a mobile money service in Nigeria, which it says will help boost financial inclusion and provide new methods of money transfer for people sending and receiving money to Africa.
At a passionate debate in Westminster this week MPs, led by Rushanara Ali, member for Bethnal Green & Bow, called for government action in the wake of Barclay’s recent decision to close accounts for a large number of small payments businesses in the remittances sector.
Moroccan investment bank Casablanca Finance Group has installed a new banking system from Swiss technology company Avaloq, as the Moroccan financial services industry spreads its wings across Africa.
South Africa’s Standard Bank has introduced a new mobile banking tool called AccessBanking, which aims to reach unbanked customers in the country.
The newly created East Africa Exchange, which is currently taking its first steps in Rwanda, is part of a regional integration project between Burundi, Kenya, Tanzania and Uganda that aims to boost liquidity and provide a commodities market for 130 million people across the region.
Mobile phones may have revolutionised the way of life of the African population, but when it comes to mobile banking there are a variety of technologies circulating which each provide precise services and levels of connectivity and functionality, writes Simon Pont, chief executive of ECR Retail Systems.
