Standard Bank has today announced it has acquired a 35% stake in South African fintech, TradeSafe. Established in 2013, TradeSafe is an online escrow platform that safeguards the buyer’s funds in trust in a transaction involving two or more parties. Tradesafe was the first digital escrow organisation in the world to offer an API gateway […]
Standard Bank, South Africa’s biggest lender by assets, said Thursday (20 August), that its results for the six months ended June 2020, reflect a very difficult environment as a result of the impact of Covid-19 and resulting lockdown, particularly in South Africa. Sim Tshabalala, Standard Bank Group chief executive officer, said: “Globally, the first half […]
Standard Bank says it will stop the issuing of cheques as of December 2020 following the various limit reductions introduced by the South African Reserve Bank (SARB), the continued reduction of cheque usage during the Covid-19 lockdown period as well as the adoption of digital and cheaper alternatives by its clients. Head of payment at […]
The shift away from cash and towards digital and contactless payment methods has been accelerated by the pandemic. This, Standard Bank believes, will remain at elevated levels, and continue to grow under the new normal. “Digital payments have now become a critical service,” says Ethel Nyembe, Head: Card and Payments, Standard Bank Group. “They allow […]