MoMo Payment Service Bank (MoMo PSB), a leader in digital financial services in Nigeria, recently partnered with Sochitel Group, a global leader in digital prepaid products. This collaboration introduces the Global Duka Gift Card Service within the MoMo PSB Super App, enabling millions of users to make seamless online international payments for gaming and entertainment […]
Read MoreThe National Information Technology Development Agency (NITDA) has signed a strategic partnership with Flutterwave, Africa’s leading payments technology company, and Alami a private limited liability company with focus on empowering young entrepreneurs and SMEs in the technology and creative industries through Memorandum of Understanding (MoU) to drive digital transformation and strengthen Nigeria’s economy. This collaboration […]
Read MoreThe Central Bank of Nigeria (CBN) says charges will now apply anytime customers use the Automated Teller Machines (ATMs) of banks other than theirs. This was contained in a circular dated February 10, 2025, and addressed to all banks and financial institutions, the apex bank’s acting Director of Financial Policy and Regulation Department, John Onojah. […]
Read MoreAMA PRESS RELEASE Africa’s digital trade and trade in services landscape has witnessed significant growth in recent years. Indeed, digital trade is transforming the continent’s economic landscape, creating new opportunities for real economic growth, productive job creation, and poverty reduction. This important shift has occurred as the African Continental Free Trade Area (AfCFTA) Agreement and […]
Read MoreThe power of visual storytelling in the fintech sector that helps brands tell compelling story, which in turn elicit emotional connection with the target audience and drive loyalty is key to leapfrogging the African fintech sector into new frontiers. Leading communication’s experts during panel discussion at the Newmark Group webinar with the theme: “Visual Storytelling […]
Read MoreThe value of QR code payments will grow by 50% globally from $5.4 trillion in 2025. The standardisation of national QR schemes and Account-to-Account (A2A) payment initiatives will be a key factor in driving the adoption of QR code payments. Despite this growth, Apple’s opening up of third-party Near-field Communication (NFC) access will increase competition, […]
Read MoreLemFi, a Nigerian-born pan-African fintech founded by Ridwan Olalere and Rian Cochran, received approval from the Central Bank of Ireland to acquire Buttercrane, an Irish currency exchange platform. The acquisition comes as LemFi expands its international payment services, having entered the Brazilian and Mexican markets last year. In a statement issued on Wednesday, LemFi stated […]
Read MoreMoniepoint, Nigeria’s leading fintech company, has raised over $10 million in fresh funds from Visa, bringing its Series C funding total to more than $120 million. This fundraising followed a $110 million raise announced three months ago led by African Development Partners III fund, which included Google’s Africa Investment Fund and Verod Capital. Visa described […]
Read MoreAWS is to start accepting payments in Nigeria Naira as part of a broader initiative by the company to incorporate eight new local currencies. Amazon Web Services (AWS) has added the Nigerian Naira and several other currencies to its payment catalogue, a move aimed at simplifying financial transactions for businesses. This development is part of […]
Read MoreIn a clear message of zero tolerance for cash flow disruptions, the Central Bank of Nigeria (CBN) has sanctioned Deposit Money Banks (DMBs) for failing to make Naira notes available through automated teller machines (ATMs), during the yuletide season. Each bank was fined ₦150 million for non-compliance, in line with the CBN’s cash distribution guidelines, […]
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