South African banks could lose their grip on fintech payments

T2Covered by 1 source · first reported by Africa: TechCabal / Techpoint Africa / TechCentral / WeeTracker / Ventureburn at 26 Oct, 11:43 UTC

South Africa plans to let regulated fintechs access its payment network directly, cutting their reliance on banks. The change could reduce payment costs and squeeze banks’ fee income, but savings for merchants and consumers will depend on competition and the cost of operating independently.

fintech

Sources

• T2South African banks could lose their grip on fintech paymentsAfrica: TechCabal / Techpoint Africa / TechCentral / WeeTracker / Ventureburn26 Oct, 11:43