Standard Bank enabled UnionPay contactless payments across South Africa

JOHANNESBURG, Nov. 9, 2021 /PRNewswire/ — Standard Bank South Africa (SBSA) and UnionPay International (UPI) jointly announced that Standard Bank point-of-sale devices have been enabled for UnionPay contactless payment.

The cooperation is a strategic move from UPI that follows the surging trend of the global contactless payment industry and accelerates the development of international mobile payment services.

According to a survey conducted by RTI[1], around 30% of the respondents have started to use contactless payments since the pandemic began. And 70% of those users are likely to continue using contactless payments post-COVID-19. Contactless payments have emerged as an essential solution for all the businesses as it enables them to drive their business forward along with ensuring safety to combat the coronavirus pandemic.

“At Standard Bank, we continue to be at the forefront of providing our clients with a variety of innovative digital and contactless payment solutions,” says Nelisa Zulu, Head of Card and Payments at Standard Bank South Africa.

“We have seen contactless payment spend grow by 272% year-on-year, as we see our clients’ preferences shift towards digital alternatives for payment, especially during the COVID-19 pandemic. Through our relationships with UnionPay, we continue to offer easy and convenient payment solutions for our clients, including simply tapping their cards,” comments Zulu.

“We are grateful to further extend our cooperation with Standard Bank”, said Luping Zhang, General Manager at UnionPay International Africa. “We encourage UnionPay cardholders to use contactless payments to minimise the impact of the pandemic on their daily life”.

Standard Bank is the largest banking group on the African continent by assets offering universal financial services across sub-Saharan Africa. With a deep understanding of emerging markets and evolving consumer demands, Standard Bank is working to support and grow the number of transactions through partnerships.

At present, UnionPay cards are widely accepted in South Africa in all sectors, effectively meeting the diverse purchasing needs of UnionPay cardholders living and visiting South Africa. UnionPay’s acceptance network has expanded to 180 countries and regions in recent years, with cards issued in 70 countries and regions, including over 10 African countries. The Nilson Report (Issue 1154) shows that UnionPay ranks first among all card schemes in terms of cards issuance and transaction volume worldwide.  UnionPay has launched various innovative payment products in Africa in response to the worldwide digital transformation and financial inclusion.

OANDA partners with CONVRS to revolutionise account opening process

LONDON, Nov. 9, 2021 /PRNewswire/ — A global leader in online multi-asset trading services, currency data and analytics, OANDA has partnered with personalised customer engagement platform, CONVRS to enhance the account opening process and better engage with clients.

Under the partnership, prospective traders in the emerging markets can now open a demo account direct from a wide range of messaging apps, making the process simpler than ever. The new integration also enables OANDA to converse with prospects and clients through Facebook Messenger, WhatsApp, LINE, Telegram and SMS in 53 languages.

Kurt vom Scheidt, Chief Operating Officer with OANDA, remarked, “In today’s world, people are increasingly using instant messaging apps in every aspect of their daily lives. As such, we wanted to upgrade our onboarding protocols to better reflect this, extending our channels of communication to include the world’s most popular social media and mobile messaging apps, ushering our client engagement activities into the 21st century in the process.”

“Combining deep-seated expertise in the retail trading industry with a comprehensive plug-and-play solution, CONVRS was a natural choice. It’s exciting for OANDA to be able to increase engagement with our clients in a way that’s easiest for them by using their choice of tools and methods rather than those that might otherwise be imposed upon them. We look forward to introducing our new messaging capabilities to other jurisdictions around the world in the coming months,” he continued.

Further commenting, Enis Mehmet, Cofounder at CONVRS, said, “A FinTech firm at heart, OANDA has earned a reputation for using cutting-edge technology to connect with their clients’ ever-changing needs. Given the 85% open rate for messaging apps, OANDA is now meeting its clients where they are. Being able to support them in a variety of available channels, we look forward to working with how they engage clients in the other stages of the customer journey.”

About OANDA

Founded in 1996, OANDA was the first company to share exchange rate data free of charge on the Internet, launching an FX trading platform that helped pioneer the development of web-based currency trading five years later. Today, the group provides online multi-asset trading, currency data and analytics to retail and corporate clients, demonstrating an unrivalled expertise in foreign exchange. With regulated entities in nine of the world’s most active financial markets, OANDA remains dedicated to transforming the business of foreign exchange. For more information, please visit oanda.com or follow us on Twitter, Facebook or YouTube.

About CONVRS

CONVRS (conv.rs) was established in 2018 and is presently used by over 25 financial intermediaries including leading FX/CFD brokers and digital banking solutions. The technology integrates messaging apps such as WhatsApp, Telegram, Messenger, LINE together with SMS and website chat in an API-driven omnichannel platform, streamlining the company and customer conversations. Founded by two financial markets industry veterans, CONVRS is now the leading partner for financial intermediaries looking to engage their clients in conversational experiences, from opening demo accounts, chatting with business agents or receiving personalised curated content.

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G&W Electric Announces All New Teros™ Recloser for High Speed Fault Isolation

The all-new smart solution improves grid reliability, resiliency, mitigates outage risks and easily integrates into existing electrical grids

BOLINGBROOK, Ill., Nov. 9, 2021 /PRNewswire/ — G&W Electric, a global supplier of electric power equipment since 1905, today announced the launch of its Teros™ Recloser which is available for markets outside the U.S. and Canada. Capable of working with a variety of configurations in any application, the new Teros recloser is designed to improve system reliability and grid resiliency. This new recloser provides overcurrent protection for temporary faults on overhead distribution lines and reduces long-term system outages.

“Grid reliability affects everyone—all around the globe—from the average household to entire factories and telecom systems. The results are not just inconvenient, but economic,” said John Mueller, chairman and owner of G&W Electric. “To better mitigate disruption and to manage reliable electrical service, improvements made in recloser technology are imperative to ensuring a reduction in widespread power outages. Today, reclosers are the critical must-have in a utility’s grid reliability.”

The new Teros recloser offers a wide range of benefits and fits most configurations, despite a wide variance of requirements from country to country. Requiring no oil or SF6, the Teros Recloser eliminates the need for routine maintenance and improves personnel safety. Solid dielectric and electronically controlled, Teros has been field-tested for reliable load switching and overcurrent protection. Whether looking to improve or expand grid systems and capabilities, the Teros offers utilities site-ready designs for new and existing electrical systems.

“With growing populations and a greater demand for reliable power, paired with new construction, a reliance on technology and the effects of climate change, utilities are working hard to save customers the expenses and inconveniences of frequent outages,” added Mueller. “Reclosers have become the global market solution to the expansion and modernization of distribution networks for enhanced reliable power.”

The Teros system is designed to reduce the amount, frequency, and duration of outages on overhead systems, including main distribution lines, distribution branch circuits and substations. Lightweight and compact, the Teros site-ready designs provide all the necessary brackets, arresters and voltage transformers providing ease of installation. In addition, this new recloser is power grid automation ready, simplifying the need for future automation requirements.

To learn more about the grid resiliency challenges faced around the globe, download G&W Electric’s latest white paper titled, “Reclosers: Safeguarding Electrical Grid Reliability, reducing system outages and increasing reliability by providing quality overcurrent protection on overhead lines.”

To learn more about Teros System Recloser visit www.gwelectric.com/teros.

About G&W Electric

Since 1905, G&W Electric has helped power the world with innovative power grid solutions and products. With the introduction of the first disconnectable cable terminating device in the early 1900s, G&W Electric began to build a reputation for innovative engineered solutions to meet the needs of systems designers. With an ever-present commitment to customer satisfaction, G&W Electric enjoys a worldwide reputation for quality products and superior service. For more information on G&W Electric visit their new website at www.gwelectric.com. Follow G&W Electric on Twitter @GW_Electric and on LinkedIn.

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Coega Technologies and Consulting re-launched

In an effort to improve its information and communications technology (ITC) offering to the Special Economic Zone (SEZ) tenants, as well as other companies in the Eastern Cape, the Coega Development Corporation (CDC) has re-launched the Coega Technologies and Consulting business.

In a statement on Tuesday, the CDC said ICT connectivity is essential to the growth and efficiency of any business and Coega’s one-stop-shop ICT solution can offer its growing client base peace of mind in that regard.

Coega Technologies and Consulting offers specialised ICT services and solutions, including, amongst others, hosted services, connectivity collaborative services, managed security and redundancy, advanced infrastructure, and PaaS/SaaS/IaaS.

“Specifically, the product lines include internet connectivity and telephony, two tier 3 data centres, ICT monitoring and support, ICT security and disaster recovery, equipment, space and line rentals, and software licensing.

“The Coega Technologies and Consulting two tier 3 data centres have enabled the organisation to offer ICT Infrastructure as a Service (IaaS),” the CDC said.

The 178 kilometres of fibre cabling within SEZ is currently connecting more than 40 clients consuming services both within and through the data centres.

“To maximise value for our customers, Coega Technologies and Consulting provides reliable, scalable, accessible, convenient, secure, client-centric, and cost-effective connectivity solutions to save clients time and money.

“Through its network design, Coega Technologies and Consulting has built multiple layers of redundancy, making it possible for its clients to continue operating despite disruptions caused by the vandalism and attrition of internet service provider infrastructure across the country.

This ensures uninterrupted connectivity for the CDC customers.

The CDC said plans for a network equipment upgrade worth an estimated R22 million are currently underway.

In line with the CDC’s vision to be the leading catalyst for the championing of socio-economic development, Coega Technologies and Consulting is gearing up to extend its services to the rest of the country to achieve its market development strategy.

“As an entity of the CDC, which exists to catalyse socio-economic development, Coega Technologies and Consulting places a high premium on the overall success and wellbeing of its client base through ICT,” CDC ICT Services Manager Phaphama Msimang said.

Source: South African Government News Agency

UIF disburses R6.4m to workers affected by July unrest

The Unemployment Insurance Fund (UIF) has commenced payments to the Workers Affected By Unrest (WABU) Relief Scheme and has so far disbursed R6.4 million to 1 402 workers that were affected by the July 2021 unrest in Gauteng and KwaZulu-Natal.

In a statement on Monday, the department said the payments were made from applications received from 10 employers whose applications were tested against stringent criteria which involves checking if workers have been registered and declared with the UIF, monthly contributions are up to date, as well as physical inspections of affected businesses.

Since the opening of the application process in August 2021, the UIF has received applications from 500 employers on behalf of close to 16 000 workers.

UIF Acting Commissioner, Advocate Mzie Yawa, said that from the 500 employer applications received, the UIF has paid 1 402 workers, which is not a great number considering that 16 000 workers have applied.

“We are however, not worried about this seemingly low number because it shows the robustness of our verification process, which ensures that only those who meet our standards are fit for payment. Due to hard lessons learned from COVID-19 TERS payments, the UIF has had to vigilantly carry out due diligence and thorough verification before making any payments,” Yawa said.

He said that already, the Fund has identified several WABU claims that have been submitted to other insurance companies where salaries are covered, some applied for and shall get help from the Industrial Development Corporation (IDC) which also covers salaries in their intervention. Yet some of these employers still applied for UIF’s WABU benefit.

“We have also noted that some employers have used false SAPS case numbers and luckily our system can pick up through checks that the cases are not genuine. We urge all to act honestly, these are hard-earned monies for vulnerable workers, not get rich quick schemes,” Yawa said.

Yawa added that some of the claims have been rejected because they have failed to meet the basic minimum requirements such as correct identity numbers, correct banking details, no UIF declarations and no UIF contributions found.

“We still have payments that bounce back due to incorrect banking details and we again appeal to employers to ensure that they supply us with correct bank accounts of their workers,” he said.

Meanwhile, the UIF recognises that some of the rejected applications are caused by genuine mistakes committed by employers and will communicate with them to make corrections for workers not to lose their benefits.

“The bulk of the applications have been picked up as beneficiaries from South African Special Risk Insurance Association (SASRIA) and Department of Trade and Industry and Competition, and the Fund is running checks if those claims cover salaries and wages – and if they do, they will be rejected to prevent double-dipping,” the statement read.

The WABU benefit is paid directly into the employee’s bank account and is calculated at a flat rate of R3 500.

The benefit is de-linked from the UIF’s normal benefits, meaning workers’ accumulated credits are not used to calculate the benefit amount payable to the beneficiary. This is to enable workers who have no credits to receive financial support whilst their workplaces are in the process of rebuilding or reopening.

Source: South African Government News Agency

Economically improving the lives of the previously marganalised

The Green Hydrogen Export Special Economic Zone to be developed in the Northern Cape, with SASOL as an anchor investor, is expected to economically benefit the previously marginalised sectors in a province that is one of the poorest in terms of demographics.

“The intention is to have a dedicated green grid, electrolizer park and green hydrogen related Special Economic Zone to manufacture green hydrogen industry related goods and services in the Northern Cape,” Minister of Forestry, Fisheries and the Environment Barbara Creecy said on Monday.

Addressing the launch of the Northern Cape Green Hydrogen Strategy at the United Nations Framework Convention on Climate Change (UNFCCC) COP 26 in Glasgow, the Minister said local manufacturing of hydrogen products and components will contribute towards job creation and skills development as well as enhance economic transformation.

Last month, President Cyril Ramaphosa announced the Northern Cape Green Hydrogen Strategy, with the anchor investment by SASOL at the South African Strategic Infrastructure Development Symposium.

This came after a decision by Cabinet in September to approve the extension for the next 10 years of the South African Hydrogen Society Roadmap (HSRM).

“The new roadmap builds on what has been achieved in the past 10 years, and moves us from research and development to manufacturing and commercialisation. We are particularly excited by this development, which aligns with the department’s declaration of the expanded western Strategic Energy Corridor in the Northern Cape.

“Over the past few years, our department undertook Strategic Environmental Assessments to identify among others renewable energy development zones (REDZ) and strategic energy corridors, in which large scale grid infrastructure expansion could be incentivized,” the Minister said.

This was done to proactivity identify environmental sensitivities and assist in orientating infrastructure development away from areas of high environmental sensitivity, allowing for a streamlined environmental authorisation process, which speeds up development while maintaining the highest environmental protection.

“Through this process we have heeded the call from the President to cut red tape and to halve the authorisation timeframe for transmission scale electricity grid infrastructure and reduce the timeframe for electricity grid development from seven to three years by allowing a pre-negotiated route to be submitted for authorisation which significantly simplified the servitude negotiation process.

“Accordingly, we are committed to supporting this very important initiative for the country and through the department we look forward to working closely with the Northern Cape Department of Agriculture, Environmental Affairs, Rural Development and Land Reform to make it a reality,” the Minister said.

Source: South African Government News Agency