The Unbanked — The banking sector itself is somewhat structurally unsuited to push into the poorer and more remote corners of the country. It is highly concentrated and conservative with regulations that focus on soundness and stability, all of which can make it difficult to commit resources to collecting smaller deposits and making…

South Africa Banks Making Efforts to Reach and Integrate the Unbanked Population Given South Africa’s history and economy, financial inclusion is a serious issue for the country. It is committed to making up for the disparities of the apartheid era and it wants and needs to improve the lives of its…

What Are Crypto Exchanges And How Do They Work — A cryptocurrency exchange works similarly like stock exchanges which helps the investors to buy and sell in digital currencies such as Bitcoin, Ethereum or Tether. These platforms work on digital marketplace such as mobile apps or via desktop functions similarly like e-brokerages. They also provide an array of trading and…

While South Africa’s adoption of digital currencies has been steadily increasing in recent years, several factors may still impact the future of cryptocurrencies in the country, including regulatory developments, economic conditions and public sentiment. The setup of a regulatory framework is ongoing and moves along with innovation and the rise…

Cryptocurrency is legal in South Africa, where there is a relatively supportive regulatory environment for cryptocurrencies, and individuals and businesses can legally use cryptocurrencies. There are also several cryptocurrency exchanges and trading platforms operating in the country that the FSCA regulates. However, it must be noted that cryptocurrencies are not…

South Africa has shown a growing interest in cryptocurrencies over the years, with many people investing in the industry. The country has a supportive regulatory environment, and the South African Reserve Bank (SARB) has confirmed that it doesn’t plan on banning or restricting the use of cryptocurrencies. Besides a favorable…

TIER is focusing on AI technology and plans to apply a facial recognition AI payment system. The facial recognition payment method applied to TIER enables simple and secure payments at no or low cost regardless of device. It also enables hands-free payments without the need for smartphones, credit cards, or…

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The term Unbanked means individuals who do not have access to traditional banking services such as bank accounts, credit cards, or other financial products. In Africa, a significant portion of the population is unbanked, with an estimated 350 million adults lacking access to formal financial services. There has been some…