Tech

Mastercard launches contactless payment solutions in Nigeria

Published

4 months 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

RepAir, Cella partner to launch carbon capture in Kenya

Published

1 day ago

April 27, 2024

Akanimoh Etim

Global Direct Air Capture (DAC) firm, RepAir, has entered into a partnership with carbon storage technology company, Cella, to launch a first-of-its-kind innovative Carbon Capture and Storage venture in Kenya.

In a statement on its website on Friday, RepAir said the venture will see a replication of its “cultivating partnerships” with storage firms in Europe, U.S. and Africa.

“This storage agreement will streamline the sale of high-quality carbon credits to off-takers, enabling corporations to meet evolving ESG standards, manage offsets and advance towards net zero goals,” the statement issued by RePAir CEO, Amir Amir Shiner, stated.

“Our solution sets a new standard, requiring only 600 kWh per ton of CO2 captured, marking the lowest energy consumption on the market.

“This agreement is perfectly aligned with the launch of our commercial demonstrator in 2025, empowering RepAir to offer high-quality carbon credits to our customers.

“It will see to the establishment of a storage partnership with Cella aimed at creating dedicated value chains for extracting CO2 from the atmosphere and permanently storing it underground through in-situ mineralization.

Corey Pattison, CEO, Cella, who also issued a statement on the partnership, said “by partnering with Cella at our first demonstration site, RepAir can capitalize on two critical resources: the potential for truly permanent, highly verifiable carbon storage via mineralization combined with Kenya’s abundant renewable energy sources.

“Together these resources provide a comprehensive solution for capturing and storing CO2 for off-takers. This collaboration represents an extraordinary opportunity to nurture mutual growth.”

Tech

Intel Liftoff Hackathon 2024 calls for applications from African AI startups

Published

2 days ago

April 26, 2024

Akanimoh Etim

Applications for the 2024 cohort of Intel Liftoff Hackathon has opened for African AI startups designed to bring together aspiring tech entrepreneurs, software developers, and AI enthusiasts to collaborate, innovate, and create solutions to concrete African challenges.

In its second edition, the hackathon welcomes pioneering early-stage AI startup teams from the African continent, delving into experiments with LLM technology, a statement on the website of the organiser stated.

It added that the Intel Liftoff Hackathon for African AI Startups, which will be held online on May 27-31, is themed “Hack and Connect”, and will take place in partnership with Modus Africa, University Mohamed VI Polytechnic, Morocco

Other partners include TUT Hub of Artificial Intelligence Institute of South Africa, Prosper Africa, UM6P Ventures, FAST Accelerator, Innov8 Technology Hubs, and Open Startups International.

“The hackathon will feature hands-on workshops that will allow learning of AI essentials; three days of challenges with mentors to test skills; exhibition opportunities to showcase startups and forge partnerships with industry leaders; and networking opportunities to engage with fellow startups and gain insights from domain experts in the AI ecosystem,” the statement said.

“Winners will be invited to join the Intel Liftoff for Startups programme, and receive unique mentoring sessions with ecosystem partners and marketing opportunities with blog articles,” it concluded.