Security is critical for secure payments
Payments fraud experienced by retail businesses remains persistent, despite declining for a third year in succession, according to the 2013 AFP Payments Fraud and Control Survey, says Lionel Slowe, head of the SADC project at BankservAfrica. The survey states that 61%...
Financial institutions and disaster recovery
Business continuity in the payment industry is becoming more important than ever as most companies in Africa are ill prepared when it comes to disaster recovery, says Lionel Slowe, head of the SADC project at BankservAfrica. According to the latest EMC disaster...
Contactless payments 101
With the steady introduction of contactless payment systems in parts of South Africa, a new wave of convenience for low-value transactions is becoming a reality. But just what is this technology? How does it work, and is it secure? These are questions that many people...
Interoperability drives mobile payments
The proliferation of mobile devices in Africa has increased in the past few years and there is no doubt that these devices are moving beyond their role as phones and becoming enablers for a wide range of functionalities from mobile TV to electronic payments, says...
Nedbank’s App Suite now upgraded
Off the back of its recent win of the "Best Android Consumer App" at the MTN App of the Year awards, Nedbank has released an upgraded version of the Nedbank App Suite. The updated release fits into the bank’s strategy to provide clients with a one-of-a-kind,...
Online insurance platform from Absa
Absa’s 1,3-million online banking clients will be the first in South Africa to have access to fully integrated online insurance. With immediate effect, clients will be just a few clicks away from having access to a launch suite of six core short-term and life...
Pillars of PCI compliance
The Payments Association of South Africa (PASA) has mandated that merchants of all sizes that process, store or transmit credit card information must comply with the Payment Card Industry (PCI) security compliance by the end of 2013. Consequently, retailers have to...
Moving to a new era of fraud prevention
While insurance companies have used tried and tested techniques for fraud detection for decades, high performance analytics now allows them to become proactive in identifying fraud before it happens, says Dr Tracy Dunbar, director of Analytics at BITanium. Fraudulent...
Intervate, KPMG host productivity event
KPMG, in partnership with South Africa’s foremost provider of enterprise information management (EIM) and process automation solutions, Intervate, hosted an event where KPMG presented the fifth annual Sourcing Advisory Pulse Survey in Cape Town on 7 August 2013. The...
Building an ecosystem for mobile payments
Mobile phone-based transactions have come of age in South Africa, with wiGroup’s platform, wiPlatform, processing over half a billion rands in transaction value during the first six months of 2013. “We have seen a 500% increase in mobile transaction volumes through...
Financial inclusion key to higher savings
Absa uses banking technology to expand financial inclusion for a greater savings pool with over 4-million cell phone banking customers of which half are entry level banking customers. As principal sponsor of the 6th African Microfinance Conference taking place at the...
Digital banking saves FNB customers money
FNB encourages customers to use its digital and electronic banking channels as another way to save this National Savings Month. By using channels such as FNB Banking App, FNB Online Banking or Cellphone Banking, FNB customers save between 75 and 100% on day-to-day...