Africa Fintech Spotlight
Africa Fintech Network
A platform that unites Africa fintech leaders, organizations and stakeholders.
Navigating the evolving regulatory landscape of cross-border payments in Africa
This article was contributed by Robert Sargsian, Co-founder/CEO at Due, and Omotesele Esekhaigbe, Compliance and Risk Manager (MLRO) at Zone as part of the Emerging Trends in Cross-Border Payments: A Growth Guide for Stakeholders report authored by Aroghene Favour Ndulu and Paschal Okeke.
The regulatory ecosystem in Africa has many challenges, especially for cross-border payments. While the continent is experiencing rapid growth in digital financial solutions, the regulatory environment remains challenging for businesses and payment service providers.
PalmPay Strengthens Payment Capabilities with Zone’s Blockchain Network
PalmPay, a prominent fintech platform in Africa, has integrated with Zone, the continent’s rapidly expanding payment infrastructure provider, to enhance its payment processing capabilities. This collaboration with Zone’s regulated blockchain network is expected to improve transaction efficiency and security across PalmPay’s extensive network of 1.2 million agents and merchants.
By leveraging Zone’s blockchain-based payment system, PalmPay aims to enhance the experience for its 35 million users by offering seamless and efficient transactions. The partnership introduces a new standard in point-of-sale payments and aims to transform the broader payment landscape in Africa. The integration is designed to streamline PalmPay’s operations by reducing system failures and ensuring fast and frictionless payments for its customers.
Read more: https://www.cointrust.com/market-news/palmpay-strengthens-payment-capabilities-with-zones-blockchain-network?
Enhancing Financial Inclusion Through Innovative Fintech Solutions
Fintech service providers have a significant role to play in driving the financial inclusion national agenda. However, technology alone cannot address South Africa’s financial inclusion challenges – to create an enabling environment for financial sector innovation, stakeholders also require collaboration.
According to Johan Gellatly, MD of Altron FinTech, a leading fintech that is helping to reshape the sector to enable? financial inclusion with affordable merchant and consumer cost friendly accessible? financial transacting solutions.
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Bank Transfers Dominate Financial Transactions in West Africa, Nigeria Leads The Way – Survey?
Bank transfers have emerged as the most popular method of payment in West Africa, driven by the rapid adoption of digital technologies, and the expansion of fintech solutions in the region.
A recent survey titled “Emerging Trends in Cross-Border Payments”, revealed that across the West African region, financial inclusion initiatives have brought millions of people into the formal banking system. This has made bank transfers a preferred choice for both personal and business transactions. Also, the rapid growth of smartphone usage in the region has further accelerated the adoption of bank transfers.
Read more: https://www.tekedia.com/bank-transfers-dominate-financial-transactions-in-west-africa-nigeria-leads-the-way-survey/??
Ripple and Trinity College Dublin Establish New Blockchain Research Hub
The ADAPT Centre at Trinity College Dublin has teamed up with Ripple to create the Ripple Blockchain Collaboratory, a new research initiative focusing on blockchain, cryptocurrency, cybersecurity and fintech.
Funded by Ripple’s University Blockchain Research Initiative with $200,000 over two years, the multi-year collaboration will be led by Professor Hitesh Tewari of Dublin Trinity’s School of Computer Science and Statistics.
It aims to drive innovation and develop solutions addressing real-world challenges through advanced research projects and hands-on learning opportunities. The partnership also includes hosting an XRPL validator at Trinity, enhancing the university’s involvement in global blockchain infrastructure.
Read more: https://thefintechtimes.com/ripple-and-trinity-college-dublin-establish-new-blockchain-research-hub/?
Goldman Sachs wants to create AI that thinks and acts like a seasoned banker
The ADAPT Centre at Trinity College Dublin has teamed up with Ripple to create the Ripple Blockchain Collaboratory, a new research initiative focusing on blockchain, cryptocurrency, cybersecurity and fintech.
Funded by Ripple’s University Blockchain Research Initiative with $200,000 over two years, the multi-year collaboration will be led by Professor Hitesh Tewari of Dublin Trinity’s School of Computer Science and Statistics.
It aims to drive innovation and develop solutions addressing real-world challenges through advanced research projects and hands-on learning opportunities. The partnership also includes hosting an XRPL validator at Trinity, enhancing the university’s involvement in global blockchain infrastructure.