Payment

2023 - 3 - 11

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Image courtesy of "Techpoint Africa"

Building An Inclusive Digital Economy In Africa Through Payment ... (Techpoint Africa)

There was a young lady called Aisha who lived in the wide and varied continent of Africa. Aisha dreamt of opening her jewelry store one day when she and ...

Payment technologies such as mobile money, digital wallets, biometric payments, blockchain technology, and open APIs may significantly improve the availability and use of financial services in Africa. Innovators in the field of payments may use these technologies to their advantage, producing payment services that are both more widely available and more secure. The digital economy in Africa is now transforming, and this payment innovation is only one of many. Digital identity systems that enable identity verification without the need for conventional forms of identification may be developed using blockchain technology. Payment pioneers may expand on this achievement by offering more practical and economical mobile money options that are available to a larger audience. Another payment innovation that may support financial inclusion in Africa is using digital wallets. Other digital payment options like digital wallets and internet payments are becoming more and more common in Africa, besides mobile money. Due to issues like exorbitant account fees, a lack of faith in financial institutions, and difficulty accessing financial institutions in remote regions, this is the case. Payment innovations might help to solve these problems and advance financial inclusion in Africa. Mobile money services are now accessible in more than 95% of African nations, making mobile phones a standard means for people to access financial services. She could transfer and receive money swiftly and securely from the convenience of her home with only a mobile phone and a few simple clicks. There was a young lady called Aisha who lived in the wide and varied continent of Africa.

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Image courtesy of "Motley Fool"

Is Solana the Next Square-Style Payment Platform? (Motley Fool)

Solana has all the tools to be a payment network to rival credit cards. Square, the merchant payment platform from Block (SQ -3.78%), has become a ...

Over time, I think the low cost and speed of Solana will make this an attractive blockchain for payment companies to build on. And the money is immediately available for other purposes. It's hard to explain how long that time can be for a small business that has bills to pay. A transaction on Solana costs less than $0.01 in blockchain fees, and there may be a fee on top of that for the company that provides the payment interface, like Square. But costs could be a fraction of what we pay today. The network can accept Visa, Mastercard, American Express, and Discover credit and debit cards, making electronic payments easy for businesses.

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Image courtesy of "Morocco World News"

Morocco Reintroduces Late Payment Penalties on Water Bills (Morocco World News)

Morocco's National Office of Electricity and Drinking Water (ONEE) has announced the return of late payment penalties on water bills, saying the decision is ...

Every contribution, however big or small, is valuable for our mission and readers. The late payment penalty was suspended due to the pandemic, and customers were instead provided with additional facilities to ensure uninterrupted water services. In a statement ONEE issued earlier this week in response to numerous reports on late payment penalties, the national water and electricity operator maintained that the return of the late payment is part of its newfound commercial policy to ensure timely and complete payment of bills.

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Image courtesy of "News24"

On Monday, a new payment system will be launched in SA - what ... (News24)

SA will launch its rapid payment programme, Payshap, on 13 March, enabling instant payments between different banks, even using platforms like WhatsApp.

Banks will announce their pricing structure for Payshap after the launch, but it is expected to be much cheaper than immediate interbank payments. BankServAfrica anticipates that by the end of this year, Payshap will be SA's most preferred electronic payment option. The service will be rolled out in two stages. The Reserve Bank hopes it will eventually replace cash. Others will plug into the system later. Payshap will allow them to make payments from their new balance to other people, and soon also via apps like WhatsApp.

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