The constitutional court will hear arguments on Tuesday relating to the awarding of a social grant tender, which was found to be invalid by a lower court. The unsuccessful bidder, AllPay Consolidated Investment Holdings, argues the tender process was procedurally flawed and unfair, and violated
Absa has added a new channel to its Internet banking portal with Absa Online Insurance, which allows customers to purchase insurance products or maintain existing ones. Customers can apply for insurance, complete the necessary applications and secure long- or short-term insurance
Blue Label Telecoms and MasterCard plan to roll out point-of-sale (POS) devices to 22 000 small traders and rural shops in South Africa, allowing them to accept card payments for the first time. Blue Label already provides thousands of POS terminals in South Africa, which
The Payment Pebble, the mobile phone point-of-sale device developed by Thumbzup and announced in November 2012, has been delayed by regulatory hurdles, says Absa, the bank partner that will launch the product. Absa had said the product would be launched in the first half of 2013, but was unable
The cost of banking has remained unchanged in the past year, according to research by trade union Solidarity released on Tuesday. “Monthly bank costs have started to stagnate at an R80 to R100 level,” senior researcher Paul Joubert said at a presentation in Pretoria. “Bank fees are a lot better
Altron subsidiary Bytes Technology Group has landed an IT services contract with banking group Absa worth R400m. Bytes division Bytes Managed Solutions won the deal to provide services to Absa and parent Barclays across the territories in Africa where the financial services giant operates
Absa has released its transactional banking application for BlackBerry devices, but only for those phones running the older BlackBerry 5, 6 and 7 operating systems. The bank already has apps for iPhone and Android and recently launched a version for BlackBerry’s new Z10 smartphone, which is powered
Absa has opened an entirely paperless branch at Johannesburg’s upmarket Hyde Park Corner shopping centre. The branch offers automated queuing systems to minimise the time consumers have to spend in the branch and is the model that the bank will use for all of its branches across South Africa
News that Telkom may write down the value of its legacy network infrastructure is positive, analysts say. Not only will it bring its balance sheet “in line with reality”, but is indicative of a board of directors looking after an embattled company’s best interests, they say. On Tuesday
MTN and Absa have formed a task team to keep a “close eye” on fraud and “bring about new ways to rapidly clamp down on it”. The decision to create the team follows an urgent meeting where executives from the two companies discussed the recent spate of Sim-swap fraud cases. The special
