Johannesburg, April 4, 2016 – Net 1 UEPS Technologies, Inc. (“Net1” or the “Company”) (NasdaqGS: UEPS; JSE: NT1) today announced that it has acquired a 60% interest in Masterpayment AG (“Masterpayment”), a specialist payment services processor based in Munich, Germany.
Masterpayment provides payment and acquiring services for all major European debit and credit cards; and invoicing for online retail, digital goods and content. Masterpayment currently has a client portfolio of approximately 5,000 registered merchants.» Read more
With the Hong Kong Rugby Union season 2015-16 having come to a close, we wanted to share the results and achievements of the teams this season.
This season saw the Men’s 1st XV take the title of Grand Final Winner of Championship B, with a 5th place finish in the league. The Men’s 2nd XV narrowly missed out this season after winning their league, the National League 5A last time round, finishing runners-up in the Development League.» Read more
Approximately 65% of all online payments made in China are now done so on mobile devices, according to a study from Alipay, the mobile payments division of eCommerce giant Alibaba.
The figure is up from 49% last year, which has lead a number of industry experts to speculate that smartphones will likely outgrow the use of cash and other payment methods within a few years.
There are over 100 million users of Alipay in China,» Read more
The Federal Reserve Bank of Atlanta have selected IBM to help modernise its automated clearing house (ACH) processing systems.
They will implement IBM’s Financial Transaction Manager (FTM) software, a processing platform that will help it to more effectively process the billions of ACH transactions that occur each year.
According the IBM, its FTM software will enable the Federal Reserve Bank to input, process, clear, settle and provide billing/accounting functionality across all ACH payments in each of the 12 districts that comprise the Federal Reserve system.» Read more
JOHANNESBURG, SOUTH AFRICA– Net 1 UEPS Technologies, Inc. (“Net1” or the “Company”) (UEPS) (JSE:NT1) today announced that it has acquired the remaining 56% of Transact24 Limited (“T24”), a specialist Hong Kong-based payment services company. Net1 now owns 100% of T24, having acquired approximately 44% of T24 in May 2015. Philip Meyer, Managing Director of T24 and an industry veteran in the international payments and transaction processing industries, will become an executive officer of Net1.» Read more
NACHA, the Electronic Payments Association, have announced the launch of their NACHA Challenge, a competition that it hopes will identify ways in which ACH payment processing end-user experience can be improved – filling market gaps, and removing existing friction points.
The NACHA Challenge is open to teams from across academic institutions, non-profit organisations, corporations, think tanks, financial institutions and payment solution providers, who are looking to innovate within the payments space.» Read more
Nacha, the ACH payment processing network’s governing body, has set out to dispel myths about the IS0 20022 financial messaging standard with an all-new white paper, published as part of the associations education programme as the US market looks to convert its existing ACH network to meet the new standard.
According to Nacha, there is currently a “frenzied dialogue” underway between financial institutions, businesses and processing providers, something which has so far led to a lot of confusion as to what exactly the new standard is and how it will affect the ACH network.» Read more
Alipay, the leading third party online payment service in China, is being launched in Europe as part of the companies push to better tap into the growing number of Chinese tourists visiting the continent each year.
Run by Ant Financial, Alipay has made a deal with German card payment processing company Wirecard to allow Chinese tourists to use their existing network of point-of-sale payment terminals to accept Alipay payments for in-store purchases.» Read more
“This new service mainly targets the city’s souvenir shops, supermarkets, convenience stores, bakeries and restaurants…It is a service that basically targets small-amount transactions,” Zhang said after signing a strategic co-operation agreement with Chinese online payment giant Alipay.
“More and more tourists have Alipay Wallet installed in their mobile phones,” said Zhang.
“Starting from today, they can use their Alipay Wallet to shop at local souvenir shops and good restaurants.”» Read more
Ant Financial have released the latest version of its Alipay app, for both iOS and Android devices, adding new tabs for friends and merchants that allow for peer-to-peer and Koubei payments and transactions. The app comes as of result of the $1bn USD joint venture between Ant Financial and Alibaba that was announced last month.
Alipay now have in excess of 400m active users, with 80% of those using Alipay via their mobile devices,» Read more