LETTER FROM THE EDITOR ANDRÉ VAN DER WESTHUIZEN Editor in Chief, Payments & Cards Network Magazine
ow would you like to be the new Editor for PCM? I was stunned. An opportunity like this doesn’t just fall into someone’s lap - yet it did, and after years of working in this industry, I’m deeply honoured. As our CEO Jordan Lawrence, with a man-bun, and a post-Christmas party hangover explained... we’re changing things up in 2020. Quality and value delivered through quarterly issues is now the name of the game, as well as a new topic introduction covering Emerging Markets as an, or the, incumbent globalized hub.
Mooncard is making waves in the French commercial card space, which is perhaps surprisingly still a developing market in France, by offering value to companies and their employees with a new angle on their service offering. Volt is making access to open banking more accessible than ever, MSTS can help companies struggling with cash flow due to the pandemic, and Steven Paul delivers a comprehensive overview on the industry and how it’s essential for a leader to embrace change, and to thereby grow not only the company but also the employees.
The explosion of banking capable mobile phones and the growing ease of on-boarding in Africa has spurred connectivity, entrepreneurship, and unprecedented levels of opportunity in the financial sector – among many other areas of growth in the region. As reported by the World Bank, ICT’s (Information Communication Technologies) have invigorated the payments industry in African countries by enabling the poor to connect and access the financial sector to tap into their potential for socio-economic growth. There is rarely running water and sometimes electricity - yet the majority of the people living here have a mobile, and sometimes, smartphones.
To conclude, it would be remiss of any company not only in the financial sector to gloss over an expansion effort into the African market; it should be a dedicated focus. N o more MEA, it's ME, and A. As one of the incumbent and increasingly competitive financial hubs, an opportunity in Africa won't just fall into your lap. The rush to tap the market has already started, are you keeping ahead of the curve?
Mobile money is growing in Africa, and all the big players have long realized that Africa has a vast untapped market. 43% of respondents across Africa still prefer branch visits, against 38% who prefer mobile channels these statistics probably look very different now in light of the global pandemic. Mobile is growing ever more appealing, and with disruptive fintech already in the fray, the evolving globalized market has growing ease of access for the unbanked mobile-wielding niche. In this edition Centbee, a crypto wallet out of South Africa, is leading the charge with a Bitcoin SV solution in the emerging markets, and how their solution stands above the rest in the most practical sense.
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Thank you to all the contributors and our team for persevering during these difficult and uncertain times. Together we can help drive the unexpected and rapid changes our industry and the world is undergoing, let’s ensure those in need have access and together we can overcome.
What is now proved was once only imagined. - William Blake
