Category: <span>Banking</span>

South Africa’s leading digital bank, TymeBank, has secured the coveted headline sponsor slot for the Assegai Awards. “One of South Africa’s youngest national brands will inject new energy and ideas into the country’s most established direct and integrated marketing awards,” says David Dickens, CEO of the Direct Marketing Association of SA (DMASA). The DMASA has...

In an update, Standard Bank said that its “client relief portfolio” – where payment holidays have been granted on home loans, loans and credit cards – has declined from R107 billion as at 30 June 2020 to R61 billion. On the lapsed accounts (i.e. where the payment holiday period granted had expired and the relief...

PayPal is to take on the likes of Klarna and Australia’s AfterPay with the launch of a buy now, pay later shopping service that lets UK consumers pay for their purchases in three monthly installments. Through PayPal Pay in 3, businesses can offer their customers the option of making purchases between £45 and £2,000 by...

Digital-only bank, Bank Zero, has been appointed as a restricted authorised dealer in forex exchange by the South African Reserve Bank. The new licence, according to the bank, allows Bank Zero cards to be used for international trade, enabling customers to conduct foreign purchases either online or physically. This comes as SA’s newest digital bank finalises its...

There’s another entrant in the startup race to provide financial services to Latin America’s small and medium-sized businesses. Financial services have been a huge opportunity for startups coming out of Brazil, Colombia and Mexico in recent years, and now Xepelin, a new company from Chile, is looking to join the fray. Xepelin’s founders, Sebastian Kreis and...

While it is difficult to launch a bank during a pandemic, everything is on track and the numbers look really good, says Discovery chief executive Adrian Gore. Gore, who was speaking in an interview with Aki Anastasiou as part of MyBroadband’s What’s Next in Finance series, says that Discovery Bank has been on the market for just...

Venmo has launched its first credit card (the aptly named Venmo Credit Card). It’s rolling out today to “select customers,” according to the company, but it will be available to everyone in the coming months. You can apply through the Venmo app, provided that you’re at least 18, live in the US, and have a Venmo account...

Digital banks have been on the rise in South Africa for a while. From TymeBank putting consoles in supermarkets to Discovery launching its personal digital financial institution, there was no scarcity of recent improvements on this sector.  One of essentially the most attention-grabbing by far, Bank Zero, has formally gone reside, though solely with a...

Capitec Bank has established an online financial education platform offering financial literacy on savings, spending and debt management. The bank says the Live Better Academy offers practical tips and strategies to help people make smart financial decisions and achieve their goals. Capitec says the course series can be done on a smartphone, tablet or PC, and requires less than 200MB to...

The financial arm of Chinese e-commerce titan Alibaba is planning the biggest IPO in history, raising as much as $35 billion in a joint listing in Hong Kong and Shanghai, a report said Thursday. And in a sign of Ant Group’s confidence in the share sale, it will not seek cornerstone investors — large institutions...