Author: Akin Naphtal

Speedchain Inc., a FinTech focused on revolutionising business-to-business commerce via its connected data platform, announced a multifaceted partnership with Mastercard. “Speedchain is dedicated to bringing transaction experiences to our members that are more secure, flexible and data driven. This partnership helps enhance our ability to deliver on that promise at scale. This collaboration is also about people, and we are very excited to work with an expert team at Mastercard that share our passion for delivering excellent and innovative products,” said Speedchain’s CEO, Daniel Cage. Leveraging Mastercard’s network and innovative payments technology, Speedchain member organisations of all sizes can experience…

Paym, the mobile payment service launched by fifteen of the UK’s biggest banks and building societies, is shutting down after an eight year battle to keep abreast of changing consumer trends and technology. Launched in April 2014, Paym enable users to transfer payments through their banking app to any other account via the recipient’s email address. It currently has around 5.8m registered users, of whom around 500,000 use it regularly. However, new registrations have fallen in recent years by 10% in 2021 and 14% in 2022. Monthly transactions have also dropped from 867,000 in 2020 to 668,000 in 2022. The…

Towards enhancing Zambia’s internet connectivity, the Zambia government and SpaceX’s satellite internet constellation Starlink have concluded plans to launch Starlink operations in the country. Following a meeting with Starlink representatives in New York last week, Zambian President Hakainde Hichilema said the company will soon offer its services in the Southern African country “in line with the Zambian government’s quest to embrace internet revolution.” Hichilema said government has prioritised internet connectivity and the need to address connectivity issues because this is the only way Zambia can secure a fully functional 21st century e-government system. Hichilema added, “We expect that in under…

HSBC has invested $10 million in Nova Credit as part of a wider partnership giving the bank global access to the startup’s cross-border credit data product. US-based Nova Credit tackles the problem that immigrants have when they arrive in a new country – that their credit history is stopped at the border. The Nova Credit Passport capability pulls newcomers’ established credit data from their country of origin and converts it into an equivalent score and report suitable for use by lenders and financial services providers in their new host country. HSBC has already deployed the technology in Singapore, initially to…

Worldline is to acquire a 40% stake in Online Payment Platform, a Dutch PSP serving marketplaces and e-commerce platforms. Transactions through marketplaces and platforms make up approximately one third of the European e-commerce volumes and are expected to increase to more than half in 2025. OPP serves over a hundred marketplaces and platforms, such as e-Bay Kleinanzeigen, Marktplaats, Gumtree, Royal FloraHolland and PayPal. It typically deals with large quantities of merchants with a relatively low volume of sales, handling escrow payments with dispute and mediation management services built in. The transaction is in line with Worldline’s strategic roadmap as it…

HPS, a global provider of payment solutions and services, announced it has obtained a principal membership license from Visa, which will enable HPS’ clients to join the global Visa payments network. In addition to HPS’ full processing capabilities, HPS can now offer banks, FinTechs, and institutions who are looking to launch a payment solution, access to Visa’s payments ecosystem through its Banking Identification Number (BIN) sponsorship program. BIN sponsorship has been picking up pace globally in recent years with the growing number of FinTech companies being launched. Many are looking for both a payment service provider and a sponsor that…

Western Union announced that it has launched inbound international money transfers for Weixin’s approximately one billion users in China. Activated in collaboration with Shanghai Pudong Development Bank and Tencent Financial Technology, Chinese customers will now be able to receive money in real-time through the Weihuikuan Mini Program, a lite app integrated in Weixin. Weihuikuan offers a completely digital, in-app experience, enabling Weixin’s users to receive international cash transfers digitally, into their bank accounts. “The future of money movement is about choice, supported by technology-led innovative partnerships,” said Jenny Wu, Country Director of China and Mongolia at Western Union. “China is…

Google has completed the acquisition of Mandiant, a recognized leader in dynamic cyber defense, threat intelligence, and incident response services in an all-cash transaction valued at approximately $5.4 billion. The acquisition of Mandiant is subject to customary closing conditions, including the receipt of Mandiant stockholder and regulatory approvals, and is expected to close later this year. When completed, Mandiant will join Google Cloud and retain the Mandiant brand. Google and Mandiant share a long commitment to industry-leading security. Over the past two decades, Google has innovated to build some of the most secure computing systems in the world. Google Cloud…

Nigerian fintech startup NowNow Digital Systems has aimed at building a system that will not only drive financial empowerment but also help introduce new products through scaling and expanding its service offerings across the continent. This was expressed after the firm secured seed funding to improve financial inclusion in Nigeria and across Africa. Leading the funding move, NeoVision Ventures Ltd, DLF Family Office and Shadi Abdulhadi, the sum of $13 million was raised. It has been stated that the funds will serve as a driving force to empower people financially by launching new products and improving the rate of its existing…

Nigeria’s emerging tech startup, Earlyschool, an online and offline school management digital innovative solution has perfected plans to expand its operations to digitize schools in Oyo, Osun, and Lagos states, Nigeria. The move is targeted at enhancing educational operations and management with advanced digital solutions in the states. Launched in 2021, the Earlyschool digital solution has become the ultimate school management operational tool in some states in Nigeria including Kwara and Ogun states deploying an Artificial Intelligence (AI) solution for educational growth and capacity building. Earlyschool is an online and offline school management solution for Africa, digitizing African local and…