Total 108 Posts
Confirmed: Visa be buying a 20% stake in Nigeria's Interswitch, a company focussed on the digitisation of payments in Nigeria and other countries in Africa, for $20 million, valuing the FinTech giant at $1 billion.
Visa is looking to buy 20% of Nigerian FinTech giant, Interswitch, for $200 million. This is in anticipation of Interswitch's IPO on the London Stock Exchange in 2020.
Probably worrying for Libra is that these withdrawals mean that the Libra Association is now left without any major global payments companies as members, something that could prove to be a hurdle should Libra want to facilitate and process payments from them.
Taking a loan has never been easier thanks to the proliferation of mobile lending platforms. Efforts to make the system work better should consider whether digital credit screening models are strong enough and whether rules are needed to ensure first-time borrowers are not unfairly listed.
Cashback rewards in the long run could be trojan horse that FinTech startups have been waiting for. More people will become more inclined to go cashless because of clear incentives when one goes that road.
As a result of the major South African banks announcing that thousands of their staff will lose jobs as a result of "4IR", SASBO (banking sector labor union) has announced protests scheduled for 27 September 2019.