Latest news with #mobilePayments
Finextra
09-06-2025
- Business
- Finextra
PayU introduces A2A payments in Nigeria
PayU GPO, the leading online payment service provider operating in over 40 emerging markets, announces a major step forward in its commitment to Africa, unveiling the launch of Account-to-Account (A2A) payments in Nigeria and the appointment of Ryan Engel as the new Country Manager for South Africa. 0 This investment reflects PayU GPO's broader strategy to drive financial inclusion and modernise the continent's payment infrastructure, while responding to rapidly shifting consumer preferences. The expansion comes at a time when alternative payment methods are on the rise across the region. Insights from Black Friday 2024 show a steady decline in traditional card usage, with card transactions dropping from 93% in 2022 to 84% in 2024 in South Africa. Meanwhile, Open Banking methods are rapidly gaining traction - CapitecPay transactions alone grew by 104% year-on-year. Mobile-first purchasing also continues to soar, with 67% of Black Friday transactions taking place on smartphones. 'Our focus on A2A payments and mobile-first methods is critical to our strategy in Africa,' said Imraan Appleby, Africa Head of Product at PayU GPO. Customers are clearly signalling a demand for faster, simpler ways to pay. Merchants, in turn, need solutions that meet customers where they are.' PayU GPO's A2A payment solution allows consumers in Nigeria to pay merchants directly from their bank accounts without the need for a card. The benefits include: • Lower transaction costs for merchants • Real-time settlement of transactions • A seamless, frictionless user experience • Greater accessibility and choice for consumers These advantages extend across the value chain, with merchants' customers also benefiting from improved security, speed, and control over their payments. This drive for growth mirrors Africa's continued industry collaboration which is enacting positive change across the continent. In South Africa the Reserve Bank is revising the National Payment System Act to foster inclusion. In the first time since its history, it has created a Payment Ecosystem Modernisation Programme (PEM), hosting collaborative sessions with banks and non-banks to drive the changes that the act puts forward. PEM has numerous workstreams all aimed at driving competition, innovation, financial inclusion and addressing fraud and risk in an open, interoperable system. QR standardisation, DFID (Digital Financial Identity) and Payshap are amongst the programmes being driven forward by industry collaboration under the PEM. To lead PayU GPO's growing footprint in South Africa, the company has appointed Ryan Engel as the new Country Manager. With a background in payments and digital transformation, Ryan will be responsible for driving local strategy, forging partnerships, and strengthening PayU GPO's regional presence. 'I'm excited to be joining PayU GPO at such a transformative moment for payments in South Africa and across the continent,' said Ryan Engel, Country Manager, South Africa. 'Consumers and merchants alike are seeking innovative, efficient ways to transact. PayU GPO is perfectly positioned to deliver on that demand, and I look forward to helping shape the future of digital payments in the region.' As a further display of commitment to the region, PayU GPO received PCI DSS v4.0.1 Attestation of Compliance (AoC) for both South Africa and Nigeria. This certification requires implementing comprehensive security controls specifically tailored to regional requirements, and showcases PayU GPO's dedication to being a reliable, secure and enduring participant in Africa's financial ecosystem.
Zawya
26-05-2025
- Business
- Zawya
Qatar: POS and e-commerce transactions hit $3.18bln in April
Doha, Qatar: The total value of transactions registered in Qatar through point of sale (PoS) terminals and e-commerce platforms reached QR11.59bn in April 2025, according to the latest card payment statistics. In a post on its X platform recently, Qatar Central Bank (QCB) revealed that the value of e-commerce transactions amounted to QR3.54bn, with a total volume of 8.95 million transactions. Meanwhile, point of sale transactions recorded a total value of approximately QR8.05bn, with a transaction volume of 40.11 million. The point of sale solution provides innovative, secure, and highly efficient payment processing services as it supports contactless card transactions, e-wallet, mobile PoS (mPoS), QR code scanner, and online billing and settlement. The e-commerce market in Qatar is showing healthy growth. Over the coming years, the country's e-commerce industry is poised for substantial growth with forecasts predicting a compound annual growth rate (CAGR) of 9.40 percent by 2028. According to Instant Transfer System Statistics for April 2025, the instant payment system – Fawran service had 3.03 million total registered accounts with the total value of QR2.11bn and total volume of 1.30 million transactions. The statistics also noted that in April this year the Qatar Mobile Payments registered a total of 1.31 million wallets. The total value amounted to QR166.08m with the volume of around 174,000 transactions. In the same context, Qatar Central Bank stated that the total value of transactions across various payment systems reached QR13.86bn during April this year with a total volume of 50.54 million transactions. It also highlighted the share of each payment channel including point of sale transactions which accounted for 58 percent, e-commerce for 26 percent, mobile payment systems accounted for 1 percent, and the 'Fawran' instant payment service for 15 percent. Fawran is an innovative and advanced service aligned with the Third Financial Sector Strategic Plan. This service comes as part of QCB's ongoing efforts to develop the payment systems infrastructure and keep pace with the latest developments in the field of electronic payment systems and money transfer. QCB's innovative instant payment service 'Fawran' aims to develop a digital payment ecosystem in the country. The system has proven its efficiency in facilitating and improving payment processes by reducing the time required to transfer money between individuals and companies in Qatar. The service significantly benefits customers across the country and enables the beneficiaries to receive funds within seconds. It operates 24/7 and can be used through mobile banking applications and digital channels. It reflects QCB's commitment to provide the best services to customers of banks and financial institutions in the country, meeting their growing needs in line with the increasing demand for financial technology services. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
