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MasterCard has partnered with local company Blue Label Telecoms in a drive to equip 22 000 small traders and rural shops in South Africa with point of sale devices, enabling them to accept card payments for the first time.
South African bank Absa and payment innovations company Thumbzup have signed an agreement to launch a mobile payment device which will enable small businesses to accept debit or credit card payments through smartphones or tablets.
Global payments company Visa is to acquire Cape Town-based Fundamo, a leading platform provider for mobile financial services in developing countries, for $110-million.
The South African Revenue Service has begun phasing out the receipt of cash at its branch offices, following an increase in electronic and cheque payments over the past few years.
Motorists in South Africa will now be able pay for fuel with their credit cards. Filling stations that cannot handle credit card payments have been urged to put up prominent notices to this effect.