Global Fintech Trends - 26th September, 2024

Digital Jewels, Africa Fintech Network Harp on Fintech Regulations

In a joint effort to address the growing complexities of regulatory compliance in the African fintech sector, Digital Jewels, in collaboration with the Africa Fintech Network, recently hosted a webinar titled: ‘Navigate and Comply with Regulations with Ease through International Standards and Industry Frameworks: Fostering a Culture of Transparency and Accountability’.

?The online event attracted key players from the fintech industry, providing valuable insights into the complexities of regulatory compliance.

The fireside chat featured industry leaders, including Group Managing Director/CEO of Interswitch Group, Mitchell Elegbe, and Chairman of the Association of Fintechs in Kenya, Ali Hussein Kassim.

Digital Jewels, Africa Fintech Network Harp on Fintech Regulations

In a joint effort to address the growing complexities of regulatory compliance in the African fintech sector, Digital Jewels, in collaboration with the Africa Fintech Network, recently hosted a webinar titled: ‘Navigate and Comply with Regulations with Ease through International Standards and Industry Frameworks: Fostering a Culture of Transparency and Accountability’.

?The online event attracted key players from the fintech industry, providing valuable insights into the complexities of regulatory compliance.

The fireside chat featured industry leaders, including Group Managing Director/CEO of Interswitch Group, Mitchell Elegbe, and Chairman of the Association of Fintechs in Kenya, Ali Hussein Kassim.

Read more here: https://www.thisdaylive.com/index.php/2024/09/26/digital-jewels-africa-fintech-network-harp-on-fintech-regulations/#google_vignette?

Egypt’s ministry, eFinance partner to digitise building violations fee payments

Egypt’s Ministry of Local Development is working with eFinance for Financial and Digital Investments to facilitate the payment of settlement fees for building violations through various electronic payment methods.

This initiative, which aims to streamline processes at technology centres across governorates, was discussed at a recent meeting between Minister of Local Development Manal Awad and Ibrahim Sarhan, Chairperson and CEO of eFinance.

Awad highlighted that the ministry has recently implemented several steps to simplify the process for citizens looking to settle building violations before the deadline, which is in early November, according to Law No. 187 of 2023.

Read more here: https://www.zawya.com/en/business/fintech/egypts-ministry-efinance-partner-to-digitise-building-violations-fee-payments-mbmpulv6?

FinTech is growing but some problems refuse to go

There has been remarkable growth in the financial technology (FinTech) sector in recent years. The need to transition from traditional commercial banking, the acceptance of technology, and the growth of smartphones are among the contributors to fintech growth.

For Nigeria, Africa’s biggest economy with a growing population above 220 million people, FinTech companies have enjoyed tremendous growth in the last couple of years.

The industry has transformed the way Nigerians access financial services, making it more accessible, convenient, efficient, and inclusive.

Read more here: https://www.thecable.ng/fintech-is-growing-but-some-problems-refuse-to-go/?

EA Capital Obtains Crypto Asset Service Provider License in South Africa

EA Capital, a financial service provider focusing on blockchain technology in South Africa, has obtained a regulatory license in the region. The company received a Category I license as a Crypto Asset Service Provider from the Financial Sector Conduct Authority.

Bridging Traditional Finance and Digital Assets

Since 2022, EA Capital has reportedly operated as a regulated Financial Services Provider and an Accountable Institution under the Financial Intelligence Centre.

Read more here: https://www.financemagnates.com/cryptocurrency/ea-capital-obtains-crypto-asset-service-provider-license-in-south-africa/?

India Exports Its Digital Payment Expertise to Africa

Digital payments in India have experienced explosive growth in recent years, largely due to the success of its Unified Payments Interface (UPI) system. Buoyed by this achievement, India has expressed its readiness to support other nations in developing their own digital payment systems.

India is working to assist several African nations in establishing their own digital payment systems, inspired by the success of its Unified Payments Interface (UPI). The National Payments Corporation of India (NPCI) has begun discussions with at least 20 countries across Africa and South America to adapt the UPI model, with the goal of enhancing financial inclusion on the continent.

Read more here: https://www.wearetech.africa/en/fils-uk/news/tech/india-exports-its-digital-payment-expertise-to-africa?

PayPal lets US business accounts buy and sell crypto

At launch, this functionality for Business Accounts will not be available in New York State. Today's announcement is PayPal's latest step to increase cryptocurrency's utility by making increased functionality available to millions of merchants in the U.S.

"Since we launched the ability for PayPal and Venmo consumers to buy, sell, and hold cryptocurrency in their wallets, we have learned a lot about how they want to use their cryptocurrency," said Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies, PayPal. "Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We're excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly."

Read more here: https://www.finextra.com/pressarticle/102479/paypal-lets-us-business-accounts-buy-and-sell-crypto?

Mastercard and KaiOS Partner on Payment Acceptance in Emerging Markets

Mastercard and KaiOS have partnered to offer affordable payment acceptance devices to small- to medium-sized businesses (SMBs) in emerging markets.

The companies will begin offering the devices to SMBs in Cote d’Ivoire and Nigeria and then expand across Africa and beyond, they said in a Wednesday (Sept. 25) press release.

“Acceptance fuels a successful digital economy, so it’s critical that we meet people where they are today and move them forward together,” Jorn Lambert, chief product officer at Mastercard, said in the release. “Whether it’s a micro-merchant in Cote d’Ivoire to an enterprise in Indonesia, our goal is to make it as easy for merchants to accept digital payments as it is for consumers to make them.”

Read more here: https://www.pymnts.com/partnerships/2024/mastercard-and-kaios-partner-on-payment-acceptance-in-emerging-markets/

Read more here: https://www.thisdaylive.com/index.php/2024/09/26/digital-jewels-africa-fintech-network-harp-on-fintech-regulations/#google_vignette?

Egypt’s ministry, eFinance partner to digitise building violations fee payments

Egypt’s Ministry of Local Development is working with eFinance for Financial and Digital Investments to facilitate the payment of settlement fees for building violations through various electronic payment methods.

This initiative, which aims to streamline processes at technology centres across governorates, was discussed at a recent meeting between Minister of Local Development Manal Awad and Ibrahim Sarhan, Chairperson and CEO of eFinance.

Awad highlighted that the ministry has recently implemented several steps to simplify the process for citizens looking to settle building violations before the deadline, which is in early November, according to Law No. 187 of 2023.

Read more here: https://www.zawya.com/en/business/fintech/egypts-ministry-efinance-partner-to-digitise-building-violations-fee-payments-mbmpulv6?

FinTech is growing but some problems refuse to go

There has been remarkable growth in the financial technology (FinTech) sector in recent years. The need to transition from traditional commercial banking, the acceptance of technology, and the growth of smartphones are among the contributors to fintech growth.

For Nigeria, Africa’s biggest economy with a growing population above 220 million people, FinTech companies have enjoyed tremendous growth in the last couple of years.

The industry has transformed the way Nigerians access financial services, making it more accessible, convenient, efficient, and inclusive.

Read more here: https://www.thecable.ng/fintech-is-growing-but-some-problems-refuse-to-go/?

EA Capital Obtains Crypto Asset Service Provider License in South Africa

EA Capital, a financial service provider focusing on blockchain technology in South Africa, has obtained a regulatory license in the region. The company received a Category I license as a Crypto Asset Service Provider from the Financial Sector Conduct Authority.

Bridging Traditional Finance and Digital Assets

Since 2022, EA Capital has reportedly operated as a regulated Financial Services Provider and an Accountable Institution under the Financial Intelligence Centre.

Read more here: https://www.financemagnates.com/cryptocurrency/ea-capital-obtains-crypto-asset-service-provider-license-in-south-africa/?

India Exports Its Digital Payment Expertise to Africa

Digital payments in India have experienced explosive growth in recent years, largely due to the success of its Unified Payments Interface (UPI) system. Buoyed by this achievement, India has expressed its readiness to support other nations in developing their own digital payment systems.

India is working to assist several African nations in establishing their own digital payment systems, inspired by the success of its Unified Payments Interface (UPI). The National Payments Corporation of India (NPCI) has begun discussions with at least 20 countries across Africa and South America to adapt the UPI model, with the goal of enhancing financial inclusion on the continent.

Read more here: https://www.wearetech.africa/en/fils-uk/news/tech/india-exports-its-digital-payment-expertise-to-africa?

PayPal lets US business accounts buy and sell crypto

At launch, this functionality for Business Accounts will not be available in New York State. Today's announcement is PayPal's latest step to increase cryptocurrency's utility by making increased functionality available to millions of merchants in the U.S.

"Since we launched the ability for PayPal and Venmo consumers to buy, sell, and hold cryptocurrency in their wallets, we have learned a lot about how they want to use their cryptocurrency," said Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies, PayPal. "Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We're excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly."

Read more here: https://www.finextra.com/pressarticle/102479/paypal-lets-us-business-accounts-buy-and-sell-crypto?

Mastercard and KaiOS Partner on Payment Acceptance in Emerging Markets

Mastercard and KaiOS have partnered to offer affordable payment acceptance devices to small- to medium-sized businesses (SMBs) in emerging markets.

The companies will begin offering the devices to SMBs in Cote d’Ivoire and Nigeria and then expand across Africa and beyond, they said in a Wednesday (Sept. 25) press release.

“Acceptance fuels a successful digital economy, so it’s critical that we meet people where they are today and move them forward together,” Jorn Lambert, chief product officer at Mastercard, said in the release. “Whether it’s a micro-merchant in Cote d’Ivoire to an enterprise in Indonesia, our goal is to make it as easy for merchants to accept digital payments as it is for consumers to make them.”

Read more here: https://www.pymnts.com/partnerships/2024/mastercard-and-kaios-partner-on-payment-acceptance-in-emerging-markets/