Tech

Mastercard launches contactless payment solutions in Nigeria

Published

1 year ago

December 19, 2023

Global payment network processor, Mastercard, has launched its contactless payment solution in Nigeria, in line with the release of the “Exposure Draft of the CBN Guidelines for Contactless Payment in Nigeria in October 2022.”

Kari Tukur, the Vice-President of Customer Solutions, East and West Africa at Mastercard, who unveiled the new offering in Lagos on Tuesday, said the CBN’s guidelines defined contactless payment as “the consummation of financial transactions without physical contact between payer and the acquiring device(s),” thus enabling secure payments using Near Field Communication (NFC), Radio Frequency, or QR Codes.

“As we navigate the evolving landscape of payments in Nigeria, Mastercard is proud to launch its contactless payment solutions,” Tukur said.

“We understand the importance of seamless, secure, and cost-effective digital payment solutions, particularly for small businesses and consumers.

“We are determined to support and accelerate the adoption of innovative payment methods, ultimately fostering financial inclusion and economic growth in Nigeria. We’re committed to making a digitally inclusive future a reality for all.”

Tukur also noted that the contactless solution would empower businesses to accept card payments easily and cost effectively, using “tap on phone”, “QR Pay by link” and “Payment link” on their smart phones.

“Mastercard’s contactless options will dramatically reduce the cost of payment acceptance devices, making it financially feasible for SMEs to adopt this technology.

“This means that even small businesses can use their low-cost smartphones to accept payments safely and easily, by utilising QR codes, Payment Links, and Contactless payments, all pre-equipped with Mastercard’s secure payment acceptance technology.

“For businesses, QR code payments represent a compelling way to process payments without having to invest in extra hardware – customers can simply set up QR code payments on their smartphone and they’re ready to go,” he added.

Related Topics:CBN Featured MasterCard Nigeria Payments Solutions

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Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

20 hours ago

December 18, 2024

Isaac Dachen

The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation

Tech

Moroccan retail-tech startup Z raises $1.5m to drive intense growth

Published

4 days ago

December 15, 2024

Isaac Dachen

Morocco-based B2B retail-tech marketplace, ZSystems, has announced closing a $1.5 million seed funding round which will see it carry out its ambitious expansion dreams.

In a statement by co-founder and CEO, Meriem Benabad, the funding round was led by Morocco-based Venture Capital firms, MNF Ventures (through its MNF II fund), Witamax (through Fund II and III), Cash Plus Ventures, and Kalys Ventures.

“This funding marks a pivotal moment for Z, as we aim to scale operations and bring cutting-edge solutions to traditional retail.

“Our vision is to empower small businesses and unlock growth across Morocco and Africa,” Benabad said.

According to Benabad, the newly acquired capital will support Z’s technology development, product catalogue expansion, and preparation for its next growth phase.

“Z is reshaping the retail landscape by integrating technology and innovation across the value chain. Its scalable platform empowers traditional retailers and brands with direct access to consumers, reviving competitiveness in traditional trade (hanouts), which accounts for 85% of the FMCG market,” he added.

Founded in 2022 by the trio of Benabad, Samer Choumar and Youssef Ait-Haddouch, Z’s platform empowers traditional retailers and brands with direct access to consumers, reviving competitiveness in traditional trade (hanouts), which accounts for 85% of the FMCG market.

Since launch, the startup has helped over 15,000 active retailers, and seen more than 800,000 orders placed.