Category: <span>Banking</span>

Parliament has called on stakeholders and interested parties to submit written submissions on the South African Reserve Bank Amendment Bill. Introduced by the EFF as a private member’s bill, the draft legislation proposes that all of the bank’s stakeholders are appointed by the government and are not private. In an explanation of the bill in August, the EFF’s deputy...

Who is EasyEquities? EasyEquities is a company that runs an online investment platform. They make it easy and more affordable to buy shares in local and international stock markets. We’ve partnered with them to deliver on our purpose of helping you improve your financial life – by providing simple access to easy investing. What are...

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...