Embedded finance enabler Ukheshe Technologies has announced the launch of the very first tap-on-phone payment solution that requires no certifications. Though tap-on-phone payments have been available for a while, up until now this functionality has been costly, with several administration hurdles. Ukheshe has solved this problem by creating a simple and quick process for merchants and service providers to accept tap-on-phone payments. It will allow any near-field communicati

Embedded finance – the latest buzzword in the digital space, and for good reason: it is changing how we interact with financial services. As the world turns increasingly towards digital payment processes, there is a huge incentive to make these processes a seamless part of our everyday lives. Embedded finance does this by enabling non-financial companies to integrate them as part of their digital offerings, without the associated development and compliance costs. By doing thi

Remember when banking meant leaving the house and queuing at a physical branch to see your banker? Now, you can use your mobile device to make payments and check balances, and at the same time order groceries, pay your electricity bill and chat online with friends and family – all without getting off the couch. The digital revolution in the financial services industry has changed the way we bank, shop and interact with each other, and the prolonged lockdowns as well as increa

The first businesses in the Middle East and Africa region have started to experience the seamless ease of Mastercard’s Track Instant Pay solution, in partnership with leading pan-African fintech enablement partner, Ukheshe Technologies. Track Instant Pay is a next-generation virtual card solution that uses machine learning and straight-through processing to enable instant payment of supplier invoices – the first of its kind. “It safely and intelligently authorises immediate p

International remittances – a portion of earnings that migrant workers send home - are often a financial lifeline to families, especially those living in developing nations. Africa is one of the world’s most important remittance markets, with about USD$77 billion flowing in annually out of a global total of US$666 billion, according to the World Bank. The International Monetary Fund further estimates that 45-65 percent of these transactions are informal, or cash payments. The

Emerging markets in Africa are fertile ground for financial innovation, offering opportunities to address the decades-long challenge of financial inclusion. With these opportunities come challenges. A business breaking into a home market is difficult enough, but a foreign market means unfamiliarity with the local economy, politics, culture, social habits and consumer preferences. The solution to this is collaboration with domestic partners, who can help provide businesses wit

Last year saw an unprecedented rate of change in the financial sector, with huge growth in the use of digital financial services. A report by CB Insights entitled ‘State of Fintech’ revealed that the third quarter of 2021 was the second-highest on record for fintech financing, up by 147 percent year-on-year, and 2022 is looking like more of the same. Fintechs will continue to drive financial inclusion, assisting in the creation of an accessible and sustainable digital economy

The fintech industry is in a period of hyper-accelerated growth, with venture capitalist investment in young fintech companies having reached record-breaking levels in 2021. A report by KPMG shows that global investment in fintech reached a record-breaking $52.3 billion in the first half of 2021, more than doubling the $22.5 billion seen in the second half of 2020. Ukheshe is riding this wave of growth and driving it further into Africa. The market leading fintech enablement

Small businesses are contributing a growing slice of South Africa’s economic pie, increasing their contribution to the formal business sector’s total turnover by over 12% year-on-year. Yet few solutions are geared at these merchants. Physical point of sale systems are often unaffordable to them, transactions carry high charges, and the red tape to formalise their business dealings all hamper their economic progress. A new mobile point of sale (mPOS) solution from Telkom, crea

Three waves of COVID-19 over the past 18 months, and a fourth one looming, have all but devastated the South African economy. The unemployment rate is at a record high of 34.4%, according to Stats SA, and a TransUnion study shows that 62% of consumers are impacted financially as a result of the pandemic – 87% of whom are concerned about paying their bills. Add to this the dramatic rise in ecommerce driven by the pandemic, and the time is ripe for alternative payment solutions

Europe’s leading fintech show brought together the global financial industry to share its vision on the future of payments. Paul Selibas, President: Project Engineering at Ukheshe shares his insights on the event. Money 20/20 is the world’s foremost sales and connections event for the global money ecosystem. It is where industry experts and newcomers alike get together and share innovations, challenge the status quo and brainstorm new ideas. The Ukheshe team was there and, af

New technology often seems fantastic on paper yet has little impact in the life of the average person. A new tipping solution for fuel pump attendants, however, does both. When asked to fill up a fuel tank as motorists do in the movies, few South Africans would know what to do beyond pulling their tank lever from inside the car. Fuel station attendants are as much a part of our culture as braais and ‘howzit’. And yet, a BusinessTech poll of over 7000 respondents in 2018 showe

Getting a start-up business off the ground is not easy. You need to hustle hard to find the capital, attract customers and feel your way around what might be a new industry to you. With all the hard work put into establishing your business, efforts to network among peers and gain visibility may fall by the wayside. Participating in a start-up competition can give your company the boost it needs to ‘get a foot in the door’. Your company doesn’t even need to win for it to be a

Platform business models are key to thriving in emerging markets as they create operational efficiencies, foster innovation, and encourage go-to-market excellence. According to Clayton Hayward, CEO of Ukheshe Technologies, a leading fintech enablement partner, the platform economy opens up a whole new world of opportunities for solution-driven businesses. Having evolved over the years, today’s platform economy has led to a new breed of digitally driven, disruptive business mo

The local banking and payment sector is on the cusp of a major leap forward through the introduction of South Africa’s very own Rapid Payment Programme (RPP). Led by BankServAfrica in collaboration with the Payments Association of South Africa (PASA), RPP is intended to create a simpler, safer and cheaper instant payment environment. With the support of the SA Reserve Bank, 11 major banks and the broader fintech industry, RPP will allow people to make real-time bank account-t