The 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, […]
Read MoreExperts in fintech and payments markets, forecast a 15.3% growth in digital wallet adoption globally by 2029; up from 52.6% in 2024. Juniper Research in a research found that adoption will be driven by the increasing ease of acceptance, and the digital wallet’s ability to connect underserved communities to financial services. The research found that […]
Read MoreAfrica-focused fintech platform, PalmPay has been recognized in the 2024 KPMG West Africa Banking Industry Customer Experience Survey for delivering exceptional customer experiences and surpassing traditional banks in key areas of service delivery. The survey highlights PalmPay’s strong performance across multiple stages of the customer journey, with customers praising the platform’s seamless transaction processing, reliability, […]
Read MoreJuicyWay, a payments startup using stablecoin technology to transform cross-border payments, has launched out of stealth mode and announced a US$3 million pre-seed round of funding. Founded in 2021 by Ife Johnson and Justin Ziegler, Juicyway enables individuals and businesses to send, receive, and process payments globally. The platform supports fiat currencies like the Nigerian Naira (NGN), […]
Read MoreOFFICIAL PRESS RELEASE Experts at AOT Lagos 6th edition took time out to chart the course for Africa’s digital future through artificial Intelligence organised by the Eko Innovation Centre and powered by the Lagos State Ministry of Innovation, Science, and Technology. With the Themed “AI and the Lagos Digital Economy,” the event brought together leading […]
Read MoreThe Central Bank of Nigeria (CBN) has restricted Point of Sales (PoS) agents to a daily transaction limit of N1.2 million. This was revealed in its ‘Circular on Cash-Out Limits for Agent Banking Transactions’. According to the circular, the development is in the apex bank’s effort to advance a cashless economy. “The Bank hereby releases […]
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