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A court in Lagos has ordered banks to unfreeze accounts in connection to a ₦2.9 billion Flutterwave hack last year. However, the account owners say Access Bank and Providus Bank are yet to comply with the order.
Flutterwave has obtained a court order to recover the $24 million it lost due to a “technical glitch” on its platform that resulted in unauthorised PoS transactions nearly four months ago.
Absa Bank has introduced ChatWallet, a new wallet for sending and receiving payments via WhatsApp in South Africa. The new wallet comes after it launched its ChatBanking solution in 2018.
Charges have been brought against an M-Pesa agent for allegedly holding KSh392,000 ($2,442) that was inadvertently transferred to her account.
Paystack has launched a payment option in Cote d’Ivoire and South Africa that allows users to pay in iOS apps and on the web via Safari.
Mastercard has invested $200 million to acquire a minority stake in MoMo, MTN’s $5.2 billion fintech division, six months after announcing plans to do so.
Hydrogen, a Nigerian payments startup, has amassed 11,000 merchants and 200 employees in under two years. In this interview with Techpoint Africa, Kemi Okusanya (CEO) shares the company’s African payment ambitions.
The Nigerian Electronic Fraud Forum (NeFF) has joined other agencies to create a fraud-flagging feature for PoS terminals. While the solution is a step in the right direction, companies that own these terminals aren’t aware of the feature.
Centenary Bank, a Ugandan commercial bank, has launched CenteWhatsApp banking, which allows customers to check account balances, transfer funds, pay bills and apply for a mobile loan, among other things, via WhatsApp.
Moniepoint’s 2023 in review shows that the company likely acquired 1 million personal banking customers within six months of launch. It now has a total customer base of 3 million, processing $182 billion in 2023 according to the report.
PalmPay has announced that accounts of customers who have not validated or revalidated their national identity number (NIN) or bank verification number (BVN) will be frozen before March 31, 2024, and January 2024, respectively.
OPay has disclosed that beginning in March 2024, it will block customer accounts that do not adhere to KYC regulations and delete fraudulent ones due to impersonation and fraudulent activity cases.
Following an outage at the beginning of the year, Safaricom’s M-PESA service is currently down. Safaricom has yet to explain why the recent outage has inconvenienced millions of Kenyans.
Interswitch has partnered with OPay to offer users a secure and streamlined payment solution via the Interswitch Payment Gateway.
Bank Zero, a South African neobank, is working on three new features, including Phone Tap Payments, which allows banks to integrate smartphone wallets for tap payments.
Paystack has introduced a new feature that allows Ghanaian merchants to transfer funds to local bank accounts. This is on top of the single or bulk transfers available to any mobile money wallet in Ghana.
Visa and the Ghana Interbank Payment and Settlement Systems (GhIPSS) have partnered to increase payment services and lower transaction costs in Ghana.
Several Egyptian banks have reportedly restricted their traveller customers to withdrawing only $50 in cash when they spend abroad.
TymeBank, a South African neobank, has reached profitability six months after it posted a loss of R858 million (~$45 million).
Starting February 2024, Coinbase wallet users in 20 African countries will be able to send USDC for free on any platform that allows them to share a link, such as WhatsApp, Telegram, and email.