MTN Nigeria subsidiary, Momo Payment Service Bank Limited lost N22.3 billion following a security breach on the fintech’s system, which forced the company to shutdown operation temporarily.
The incident occurred on May 24, 2022, after Momo PSB processed 700,000 transactions, sending proceeds into about 8,000 third party accounts domiciled in 18 banks. Efforts to retrieve the fund has now…
The Central Bank of Nigeria (CBN) has granted an Approval in Principle (AIP) to fintech platform Fincra to operate as a Payment Solution Service Provider (PSSP) across the country.
In its commitment to promote strong and credible payment systems, CBN, in December 2020…
SplitCash Is Creating A World of Simple And Secure Shared Payments For Everyone
June 16, 2022
We all know what it is like to split a bill – from rent to groceries, a dinner with your friends, down to everyday living costs. Your mind quickly goes to payments for services like an Apple Music family plan, Spotify, or even Netflix. Splitting bills is more common than…
FundBae, Nigeria’s fastest-growing Savings and Investment platform, has just crossed a major milestone – 50,000 Users. FundBae is helping ordinary Nigerians build and preserve wealth through its value offerings; savings, investments and payment. It is steadily growing on Nigerians because of its flexibility and usefulness in helping Users build and sustain a savings habit. What’s more…
Pesapeer from Canada enables payments to 8 African countries including Nigeria and Kenya
June 10, 2022
Pesapeer, a global financial remittance platform that launched in 2021 in Canada, has extended its license to cater for 6 more African countries; Guinea, Senegal, Mali, Burkina Faso, Ivory Coast and Cameroon and 2 Asian countries; India and Philippines. Canadian immigrants…
Nigeria’s Indicina raises $3M to help businesses offer credit to their customers at scale
June 7, 2022
For years, Africa’s credit infrastructure has lagged behind the rest of the world due to low credit coverage from its bureaus. Per a World Bank report, only 11% of Africa’s population have their credit information recorded by private credit bureaus. And for those who…
As part of its long-term strategic growth plan, Nigeria’s retail Point-of-Sale solution provider, ZirooPay, will leverage its recent funding round to tap into the growing opportunities in Africa’s retail sector.
Armed with a technology that enables small businesses to process card payments in real-time, even when there is no Internet/data connection, as well as an investors’ backing with a…
The world is now fully digital. Today, companies in the United States of America, United Kingdom, Europe, and Australia are engaging the services of African freelancers and contractors to operate their businesses.
Freelancers, contractors, and local businesses in Africa…
Airtel, Africa Plc has launched Banking service in Nigeria as its subsidiary, SmartCash Payment Service Bank Limited (SmartCash PSB), has been granted a license by the central bank of Nigeria (CBN) to commence its operation.
Airtel which made this known in a statement on May…
The leading Nigeria fintech platform shares the below on its twitter page:
Hi team We’re partnering with our friends
@VC4Africa
to help women founders of fast-growing startups across Africa to access capital to grow their products. If this is you, apply here to get the support you need. Deadline: Friday, May 27
According press release on VC4A website:
Calling for investor-ready scale-ups…