A CipherTrace report reveals that in the first five months of the year, crypto-currency thefts, hacks and fraud totalled $1.4 billion.
The SASSA/SAPO-branded social grant payment cards become a target for fraud, with over 22 000 fraud cases reported in the past financial year.
Cyber criminals mostly target the telecoms, e-commerce and financial services sectors, with incidents expected to rise sharply, says TransUnion.
South African digital identity artificial intelligence start-up company iiDENTIFii is expanding its operations into Latin America.
NSFAS fintech partners to challenge contract cancellations
In this week's tech news roundup, Fintech partners contracted to disburse monthly allowances to NSFAS-funded tertiary students have challenged the allegations levelled against them, saying they are considering legal action. eZaga and Tenet Technology have denied the allegations made against them and claim to not have received the full report in which these were made Stay informed and engaged with our comprehensive coverage of these stories and more on our website, www.itweb.co.za and social media platforms. Discover the latest advancements shaping the future of technology by ITWeb. #newsvideo #sita #nsfas https://www.itweb.co.za/content/DZQ58MV8yPAvzXy2 https://www.itweb.co.za/content/rxP3jqBEax8MA2ye https://www.itweb.co.za/content/xnklOvz1dnYq4Ymz https://www.itweb.co.za/content/dgp45vaBPVJ7X9l8 https://www.itweb.co.za/content/P3gQ2qGAPrg7nRD1
For the year, the fintech company generated R206 million in cash, translating into a cash conversion rate of 100% of trading profit.
The agency says as soon as the vetting processes are completed, the payments will start rolling out at a faster pace.
The tradeXpad trade-finance platform provides direct access to funding opportunities from multiple private funders and traditional banks.
Huawei Cloud drives African FinTech innovation
Mark Wang, Solution Architect at Huawei Cloud Southern Africa, spoke to ITWeb about Huawei being a strategic partner in the banking sector. He also addressed challenges for banks in SA and potential growth in the payment ecosystem for customers. #huaweicloud #fintech #digitalbanking
The company will forgo monthly cash withdrawal fees of between R18 million to R20 million while Saswitch fees are waived.
The mobile operator will issue 50 billion naira in the West African country, as it seeks new sources to support operations.
This integration ensures owners of new Huawei devices remain protected from digital banking fraud.
The new blockchain principles will help individuals and companies build trust and preserve the fundamental values of the technology.
South Africans can now use digital rands to pay for food items, facilitated by fintech firm 6DOT50.