The Financial Sector Forum
Payment systems
Inertia and Coordination Problems in Payment Networks
Remarks by Malcolm Edey, Assistant Governor (Financial System), Reserve Bank of Australia. Panel session on Public Policy and Innovation at the Federal Reserve Bank of Kansas City Payments Conference, Kansas City , March 2012. The question I have been asked to address is whether inertia (or coordination failure) is an obstacle to payments system innovation. … Continue reading
FNB’s mobile money a hit
Mobile banking is taking off across Africa, with FNB recording 150% growth year on year from December 2011 for its Cellphone Banking service and 1,384% growth for eWallet. The bank’s customers conducted 2.4 million cellphone banking transactions during December 2011 in Botswana, Namibia, Zambia, Swaziland and Lesotho, to the value of R214 million. Botswana, the … Continue reading
Money goes more mobile — and global
It is getting easier and easier for consumers to transfer money anywhere in the world as new technologies come to market using cellphones and payment networks. In the past week Visa and MTN announced a payment platform that allows cross-border transactions, FNB opened up its PayPal service to non-FNB customers and the Payments Association of … Continue reading
The National Payment System Framework and Strategy
The SA National Payment System Framework and Strategy: Vision 2015. Executive summary. In April 2006 a new framework and strategy document (Vision 2010) was published. Since the publication of this document, major strategic objectives envisaged in the publication have been implemented and achieved. Owing to the dynamic nature of the payment system, and national and … Continue reading
Visa wants bigger slice of emerging markets pie
14 Jun. Global payments company Visa, which bought SA’s Fundamo for $110 million this week, is taking aim at the massive unbanked market in emerging markets. Bill Gajda, head of global mobile product at Visa Incorporated, told I-Net Bridge/BusinessLIVE in an interview on Friday there are now two billion people in emerging markets with no … Continue reading
Vodacom rings changes with its M-Pesa service
13 Jun. Vodacom M-Pesa cellphone payments service. Vodacom will target a new market segment to grow its M-Pesa cellphone money service* after a dismal start six months ago. Pieter Uys, Vodacom’s group chief executive, said last month at the cellular network operator’s year-end results that M-Pesa’s launch in South Africa had been “disappointing”, compared with other … Continue reading
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