Payment Systems News

Morocco forbids crypto currency


 | Source: Ecofin Agency

The Office national des changes du Maroc and the Central Bank prohibited all e-currency related transactions. The two institutions claim crypto-currencies are “opaque”.

Nigeria: Biometrics Will Replace ATM Code Soon - CBN


 | Source: Leadership; All Africa

The Central Bank of Nigeria (CBN) has disclosed that with the Bank Verification Number (BVN) in place, biometrics will soon be used for transactions on the Automated Teller Machine (ATM) instead of the existing pin code.

Ethiopia: Ethio Pay to Push Visa Cards Out


 | Source: Addis Fortune; All Africa

Eth Switch S.C, the consortium of private banks, is to implement electronic cards belonging to the same brand- Ethio Pay, in all the banks of the country.

Nigeria: Interswitch Partners Banks On New Lending Platform


 | Source: This Day; All Africa

Interswitch has intensified plans to boost financial inclusion drive through provision of non-collaterised micro and nano-loans to individuals and SMEs across various channels. The new innovation is design to accommodate multi-channel low-level retail lending without collateral.

Tanzania: Ecobank Tanzania Unveils Two Digital Payment Systems


 | Source: The Citizen; All Africa

Ecobank Tanzania has unveiled two digital payment solutions on Wednesday, September 20, 2017 aimed at easing retail payment.

Morocco: Crédit du Maroc launches e-service to facilitate goods clearance in the country


 | Source: Ecofin Agency

Crédit du Maroc (CDM), Moroccan subsidiary of French Group Crédit Agricole S.A, has launched an e-service for tax collection and payment of bank guarantees.

Tanzania: BoA Launches New Banking APP


 | Source: The Citizen; All Africa

Bank of Africa Tanzania (BoA) has launched a new banking App that will allow customers to make financial transactions through mobile phone for free.

Malawi: Finding Relief Through Mobile Banking Services On Likoma Island


 | Source: Malawi News Agency; All Africa

Mo626 is a National Bank of Malawi's mobile phone service that enables its customers to do money transactions via mobile phones.

Kenya: Six banks get approval to launch mobile money platform


The platform will interconnect all banks, cut transaction costs for the banks.