Nigeria’s apex bank, the Central Bank of Nigeria (CBN) has directed fintechs OPay, Palmpay, Kuda Bank, and Moniepoint to suspend new customer onboarding until further notice thereby sending panic into the financial system. However, investigations revealed that the onboarding, which the suspension of registration of new customers will not affect the fund of existing customers. […]
Read MoreNigerian Fintech company, Paga has counted the gains of doing business in Nigeria in the last 15 years in the industry, stating that it was able to processed about 335 million transactions, which worth over N14 trillion or $32 billion, in the past 15 years. At press conference organised by the Company to mark, its […]
Read MoreInstant payments market will grow by 161%, up from $22 trillion in 2024. This substantial growth will be driven by the increased popularity of A2A (Account‑to‑Account) wallets, such as iDEAL and Twint, along with the rising popularity of Open Banking. A2A and Open Banking payments both enable transactions to be made directly from bank accounts, bypassing the […]
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The quest for a resilient business models topped discourse at a workshop hosted by the Hydrogen Payment Services Company Limited for startups in partnership with the Co Creation Hub (CcHub). The discourse addressed the potential risks and opportunities for startups and saw experts advise participants on the need to develop that would scale across different […]
Read MorePolice authorities in Kenya have reportedly arrested Nadeem Anjarwalla, an executive of cryptocurrency platform Binance, who fled Nigeria some weeks ago. Anjarwalla had escaped from custody in Nigeria following the Federal Government’s crackdown on the cryptocurrency platform in a bid to strengthen the naira. While the Nigerian authorities later traced Anjarwalla to the East African nation, […]
Read MoreGlobal BaaS (Banking-as-a-Service) platform revenue generated from account/card issuing and transaction fees will grow by 158% to 2028; up from $36.4 billion this year. This expansion primarily comes from API deployment across eCommerce and freelance platforms, by connecting consumers to innovative financial tools, and so unlocking additional revenue streams for BaaS providers. Juniper Research in […]
Read MoreThe Alternative Bank and TK Tech Africa have joined forces to establish a $500 million digital Sukuk initiative, which they say will transform Nigeria’s financial technology and non-interest banking market. The two said the collaboration will use blockchain technology to speed up and improve the process of issuing, trading, and settling sukuks, as well as […]
Read MoreThe Nigeria Government is set to arraign Binance Holdings Limited and its two top officials, Tigran Gambaryan and the fleeing Nadeem Anjarwalla on allegations bordering on tax evasion. Tigran Gambaryan, arrived at the court at 9:15 am on Thursday while his colleague, Anjarwalla was absent as he was said to be on the run. The […]
Read MoreNigerian open banking fintech Mono has formed a strategic partnership with Mastercard to introduce Mono’s DirectPay with Bank on the Mastercard Payment Gateway System (MPGS). The Mastercard Payment Gateway service is a single touch point for developers and businesses to access innovative payment methods, APIs, SDKs, and fraud protection services. Mono’s DirectPay Pay with Bank method allows businesses to collect fast […]
Read MoreAMA PRESS RELEASE In a groundbreaking survey conducted across the continent, RegTech Africa and Agpaytech have revealed a seismic shift in consumer preferences towards digital payment methods. With 2,591 respondents from diverse regions, the findings underscore a resounding vote of confidence in electronic transactions, with a staggering 91% of participants expressing a clear preference for […]
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