How much ATM bombings costs SA banks

From Business Tech –

“ATM bombings have cost local banks at least R40 million rand so far in 2015.

This is according to EWN, citing the South African Bank Risk Information Center (Sabric).

Sabric CEO, Kalyani Pillay told EWN that, while ATM bombings have declined 27%, the company has seen an “increase in advanced methods used by criminals to carry out the robberies”.

The South African Police Service released crime statistics for 2015, last month, showing that bank robbery was down 19.0%, while robbery of cash in transit was down 17.9%.

Rand Daily Mail reported that overall, banks lost about R100-million more than in 2014, to R300-million in 2015 from all forms of robbery.”

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How using mobile money to pay for public services could help South Africa tackle corruption

From htxt.africa –

“If South Africa is to progress towards a more streamlined, simple and less corrupt system for citizens to pay for public services, government needs to seriously consider going digital with mobile money, mobile experts say.

In an interview with htxt.africa, Imdad Aslam, interim CEO of Pakistani small business finance organisation Karandaaz said any country, like South Africa, with a large number of its population living just below the poverty line, cannot afford to ignore the topic of digitised payments for all citizens.”

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Nedbank South Africa revamps payments ahead of September 2016 deadline

From Banking Technology –

“South Africa’s Nedbank has chosen Volante Technologies to help it revamp its payments message service using VolPay Foundation, which focuses on validating and processing payments. The move comes ahead of regulatory change next year, which will force all South African institutions to change the way they handle payments.

Under the new rules, all South African banks will have to cease offering non-authenticated early debit orders by September 2016 and instead offer a new debit order instrument, called Authenticated Collections. The rule-change is part of a general drive towards greater transparency; the new AC debit order instrument uses a combination of the ISO 20022 and ISO 8583 message standards to authenticate, process and report on the lifecycle of each transaction.”

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