Geopolitical dynamics reshaping the Cross-Border payment landscape.
The evolving cross-border payment landscape is witnessing noteworthy developments beyond traditional systems. One notable trend is the plan by BRICS countries (Brazil, Russia, India, China, South Africa) to establish their own currency. For over a decade, the BRICS nations have been seeking to reduce their reliance on the US dollar and SWIFT. However, recent geopolitical […]
Revolutionizing Cross-Border Payments: Embracing the ISO 20022 Standard
In the rapidly evolving landscape of cross-border payments, one trend stands out as a game-changer: the migration of SWIFT (Society for Worldwide Interbank Financial Telecommunication) into the ISO 20022 standards. This shift impacts global banks and holds significant potential for transforming the way we conduct international transactions. With the ISO 20022 standard’s data-rich framework, enhanced transparency, […]
PayShap: A catalyst for financial inclusion in South Africa or just another expensive payment method?
[Johannesburg] – 16 May 2023. There has been a lot of talk around the corner about PayShap – the new super-fast, low-cost payment rail which has recently launched in South Africa. It aims to foster financial inclusion and open new markets and opportunities. But before we delve deep to explore whether PayShap can increase financial […]
Demystifying open banking
[Johannesburg] – 4 April 2023 – Every South African should care about Open Banking. It would give consumers more control over their financial data and empower them to use the banking services that best meet their needs. Open banking promises to reinvent the way consumers view and interact with financial products and services. Simplistically put, […]