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Cross border B2B payments – Today’s landscape
Saxo Payments launched a white paper revealing the results of exclusive research into the cross border payments industry. Those surveyed included issuers, acquirers and PSPs as well as merchants, for a rounded view of the market, covering issues such as speed of money transfer, fees for international payments, and FX rates. The survey reveals that [...]
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Chase Bank Kenya rolls out aggressive African strategy with OpenWay
Chase Bank Kenya, an innovative and fast-growing bank with an ambitious strategy across Africa, has successfully migrated its full card portfolio to the OpenWay WAY4 payment software platform from Electra Card System. The new card management system enables Chase Bank Kenya to grow its cards business by integrating omni-channel capabilities and enhancing fraud management systems. [...]
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Vodacom reviewing poor M-Pesa business
Vodacom South Africa reportedly considering various options for its sluggish mobile money transfer service M-Pesa. In 2010, Vodacom launched M-Pesa in South Africa and the company set a target of reaching 10 million local users. Vodacom then relaunched the service in August 2014 in a bid to spur interest in the product. The M-Pesa relaunch [...]
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US banks switch on real-time mobile P2P
Two of the US’s biggest banks, US Bank and Bank of America are to offer real-time, mobile P2P money transfers to consumer mobile phones over the clearXchange network. ClearXchange, operated by the bank-backed Early Warning consortium, acts as a clearing house for person- to-person online payments transfer, enabling customers to send funds directly from their bank [...]
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130 million active mobile money users recorded globally in 2015
The GSMA has announced that the number of active mobile money accounts worldwide now exceeded 130 million, with more than 100 million new registered users added in 2015. According to the latest report on the state of financial services worldwide, there were 1 billion mobile money transactions in December 2015 at around 33 million per day [...]
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