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All posts tagged "Visa"

  • SA entrepreneur grabs top job at Visa

    Fundamo co-founder and CEO Hannes van Rensburg is set to head up the Sub-Saharan division of Visa -- the world’s largest debit and credit card network. The South African-based mobile money platform has been a part of Visa since mid-2011 when it was bought out for US$110-million. Elizabeth Buse, Group President of Visa Asia-Pacific, Central Europe, Middle-East and Africa reckons that Van Rensburg intuitively understands “the social, political and business environment in...

  • 100m newly ‘banked’ people: What mobile money has done in a decade

    It’s pretty much accepted wisdom that Africa has been at the forefront of mobile payment tech for a while now. But how many of you knew that the first mobile financial service in an emerging market went live 10 years ago in Africa? Celpay, which is powered by South African-based company Fundamo, launched in Zambia way back in 2002. That’s a full five years before Kenya’s mobile darling MPesa went live. It was...

  • A geek at the helm: Memeburn’s interview with Vodacom CEO Pieter Uys

    It’s not often that a geek rises to the top of a multi-billion dollar company. These are spots frequently filled by accountants or lawyers. But times are changing. In a technology-driven world, the geeks are rising to the top. We know Microsoft was run by a geek (possibly the geekiest CEO of all time?) and Steve Jobs was somewhat of a geek (more a design-obsessed geek than anything else). In the startup world, technology investors frequently refuse to put their money behind startups unless at least one of the founders has strong geek credentials (they quite like programmers). Enter Pieter Uys....

  • Donations to Wikileaks through Mastercard and Visa blocked… again

    The Wikileaks’ vs credit card giants Visa and Mastercard legal spat continues unabated... Following the whistleblowing site's ultimatum to sue, and the credit card giants’ apparent decision to reinstate donations, all within a week, Visa has announced that the lifting of the ban was not meant to be. According to AFP, Visa Europe announced in a statement it had reinstated the block on credit card donations to the whistle-blower website, after discovering it had been "breached". Quoting Sveinn Andri Sveinnson, Wikileaks’ lawyer, Forbes reported that this move not only blocked payments from Visa, but payments from Mastercard and American Express too. In...

  • Following ultimatum, WikiLeaks credit card donations reinstated

    Mere days after issuing an ultimatum to Visa and Mastercard to lift their seven-month ban on donating to Wikileaks, the whistle-blowing website has claimed victory. Datacell, the whistle-blower’s data hosting service provider in a statement announced that, "…we have observed that an alternative payment processor that we have contracted with, has in fact opened the gateway for payments with Visa and MasterCard". The statement also read, "We choose to interpret this as that Visa and Mastercard in fact given in to our demand that the payment services reinstated". It added that payments by American Express, which...

  • Wikileaks issues ultimatum to financial giants Visa and Mastercard

    Fed up with being unable to receive funds via Visa and Mastercard, on Monday Wikileaks issued an ultimatum. According to the self described, "not-for-profit media organisation," should the two financial giants not lift their ban on donations to Wikileaks, they will be laying a complaint with The European Commission. The European Commission is the executive body of the European Union entrusted with proposing and enforcing European Union legislation. Svein Andri Sveinsson, the controversial site’s Iceland based lawyer is reported to have said that should the ban not be lifted by Thursday, Wikileaks would lay it’s complaint against the two companies....

  • Visa snaps up SA mobile financial services company Fundamo for $110m

    Visa, the world's largest credit and debit card network, has snapped up South African mobile financial services company Fundamo for $110-million in cash. The Cape Town-based Fundamo is a privately-held company which has more than 50 active mobile financial services deployments across 40 countries, including 27 countries in Africa, Asia and the Middle East. The company has been operating since 1999 and has a number of funders which include Cape Town venture capitalists and emerging market investment group PoweredByVC, investment company Remgro and financial services corporate Sanlam. PoweredByVC is also linked to dot.com billionaire Mark Shuttleworth. Fundamo’s deployments currently have...

  • Skype aims to boost revenue with ads ahead of IPO

    Plans to introduce advertising to Skype in an effort to boost revenue ahead of going public is on the way. This according to the hugely popular free internet communications service on Monday. Skype, which bypasses the standard telephone network by channeling voice, video and text conversations over the Web, said the ads will appear only in Britain, Germany and the United States for now. The introduction of advertising is Skype's latest bid to increase revenue ahead of an initial public offering expected later this year. The Luxembourg-based Skype, which was founded in 2003, announced plans in August to raise up to US$100-million...