30 results
- 15 Oct 2020
Stripe Acquires Nigeria’s Paystack for $200m
Stripe, American financial service platform, has acquired Paystack, one of Nigeria’s leading payment service providers. Paystack provides a quick way to integrate payments services into an online or…
- 29 Jul 2015
Visa, Stripe Partner to Expand Online Commerce Globally
Visa Inc. and Stripe, a mobile and online payment provider, have announced a strategic partnership to support new technologies and online payment experiences for merchants, developers and consumers…
- 10 May 2010
EMV: ATMs Reject Magnetic Stripe Cards
Some banks installed Automated Teller Machines (ATMs) have started rejecting magnetic stripe cards, in what looks like a move to protect customers from card related fraud, Nigeria CommunicationsWeek…
- 17 Jul 2026
PayPal Rejects $53bn Stripe-Advent Takeover Bid, Says Offer Undervalues Company
The board of global payments company, PayPal, says a 53 billion dollars takeover offer from financial technology firm, Stripe, and private equity company, Advent International, does not adequately…
- 2 Nov 2009
Bank Issues Deadline on Migration to Chip & Pin Cards
Banks in Nigeria have said that the present magnetic stripe cards would stop to work soon and urged their customers to migrate to the chip and pin, Nigeria CommunicationsWeek has learnt. This is…
- 28 Aug 2018
Paystack Secures $8 million Series A Funding
Paystack, a Nigeria-based startup providing payments tools to businesses in Africa, has raised $8 million in Series A funding. The round was led by Stripe, and includes Visa, follow-on funding from…
- 25 May 2009
EMV: Banks Continue to Issue Old ATM Cards
Some banks are still issuing magnetic stripe cards to customers in apparent disregard of the Central Bank of Nigeria (CBN)’s directive to all commercial banks to stop issuing the old Automated…
- 18 Oct 2020
Expert Says Paystack Acquisition is Boost for Nigerian Tech Ecosystem
The acquisition of Paystack, a Nigerian FinTech company, by Stripe is a huge boost for the Nigerian technology ecosystem, according to Jide Awe, chief executive officer of Jidaw Systems Limited. Awe…
- 31 Aug 2009
FCMB Begins Issuance of Verve ATM Debit Cards
First City Monument Bank (FCMB) Plc has begun the replacement of the Magnetic-Stripe ATM Debit cards used for many electronic banking services at its various Automated Teller Machines (ATMs) and…
- 14 Jul 2017
TechQuest Summer Camps 2017 Receives Access Bank, Others’ Support
Access Bank, ColdStone Creamery and BH Stripes have join the growing list of partners for Africa’s foremost STEM training organization TechQuest. TechQuest is pleased to announce the opening of its…
- 14 Sept 2016
PCI SSC Beefs Up Standards for Point-of-Interaction Devices
The PCI Council has updated its payment device standard to enable stronger protections for cardholder data and PINs on chip and mag-stripe cards and mobile devices, according to the council. Version…
- 5 Aug 2014
Vibe Web Slashes Web Design Rates For SMBs
Vibe Web Solutions Limited has launched a pay scheme that will enable most cash-striped small and medium businesses to get websites. Tobi Asehinde, chief executive officer of the Company said that…
- 15 Jan 2026
Paystack Buys Microfinance Bank, Enters Nigeria Banking Arena
Paystack, the Nigerian fintech company backed by global payments giant Stripe, has made a strategic entry into the regulated banking space in Nigeria with the acquisition of Ladder Microfinance Bank,…
- 11 Jan 2010
ATM: Most Banks Yet to Comply with EMV Standard
Only five out of the 24 banks in the country have migrated from the old magnetic stripe cards to the required Europay MasterCard Visa (EMV) technology-backed chip and pin card meaning that the rest…
- 18 Jan 2010
4,000 ATMs not EMV Compliant
A total of 3,908 Automated Teller Machines (ATM) deployed by banks and merchants across the country are yet to be upgraded to Europay MasterCard and Visa (EMV) standard, Nigeria Communications-Week…
- 16 Feb 2009
ATM Fraud Awareness is Education-Elegbe
Mitchell Elegbe is managing director/CEO, InterSwitch Limited, one of Nigeria’s major switching companies. Elegbe has significant exposure and in-depth knowledge of the industry, both…
- 22 Jun 2009
Bukar Charges Stakeholders on EMV compliance
Kyari Bukar, managing director, ValuCard Nigeria has urged for a more rapid adoption of and compliance with EMV principles and practices by all stakeholders in the e-payment industry. This is…
- 23 Nov 2009
Banks Spend N400m on EMV Software Upgrades
Banks in Nigeria have spent some N400 million to upgrade their front end processors to EMV standard in full compliance to Central Bank of Nigeria’s (CBN) directive to all commercial banks in…
- 6 Jul 2010
ATMs: Job Losses, Scam Slow Patronage
Transactions on Automated Teller Machines (ATMs) shrank at its fastest pace in three months March to May this year highlighting the severe toll of the worsening economic situation in the country,…
- 9 Feb 2009
New Chip Card Renders 28M ATM Cards Useless
More than 28 million users of Automated Teller Machines (ATMs), will require new ATM cards to use the computerized devices that provide financial transactions without the need for bank teller,…
- 21 Dec 2009
ATM Transactions Hit 110m in November
The volume of transactions on electronic payment devices such as the Automated Teller Machines (ATM) and Point of Sale terminals (PoS) dropped to 110 million last month due to the migration from the…
- 21 Jul 2008
New ATM Cards to Cost Banks N11bn
The financial industry will spend at least some N11 billion in the unification of cards technology and upgrade of their platforms to EMV compliant chip cards, Nigeria CommunicationsWeek…
- 22 Jan 2026
Paystack Launches The Stack Group as Pan-African Tech Powerhouse
Paystack, the leading African payments platform solving complex financial challenges for businesses across the continent, has launched The Stack Group (TSG), a new parent holding company that…
- 26 Sept 2013
CBN Mortgaged Nigerian Card Technology-Okonyia
Robert Okonyia, a payment systems solution provider, has explained how Nigeria lost its card payment system to foreign based institutions, adding that the Central Bank of Nigeria (CBN) is culpable in…
- 18 Jun 2012
ATM Fraud Records Significant Reduction
Automated Teller Machine (ATM) fraud which has created fear in use of e-payments products has recorded a significant 98.5 per cent reduction, thanks to chip and pin technology, Nigeria…
- 9 May 2021
Paystack Expands to South Africa
Paystack, Nigerian fintech startup, has announced its official launch in South Africa. Abdulrahman Jogbojogbo, product marketer at Paystack, said the payment solution company, which is actively…
- 22 Feb 2010
ATM Withdrawals Fall to Record Low
Transactions on the Automated Teller Machines (ATMs) dropped to 90 million in January on growing fears associated with business on the computerized device that provides the clients of a financial…
- 14 May 2014
CBN Asks Banks to Destroy Cards Trapped @ ATMs
Banks in the country have been ordered by the Central Bank of Nigeria (CBN) to start destroying Automated Teller Machine (ATMs) cards trapped in their ATM terminals. The apex bank in a directive…
- 26 Mar 2015
330m Payment Cards 'in the clear' says Report
In its fourth study on unencrypted card data, the PANscan card discovery tool from PCI specialist SecurityMetrics found that 61 percent of businesses store the unencrypted 16-digit primary account…
- 6 Apr 2009
People Carry Cash as Back-up Plan- Akpan
Iniabasi Akpan, is the managing director of SoftWorks Limited, software technology solutions company. SoftWorks was carved out of iTECO (Nigeria) Limted, a company owned and managed by highly…