Day: November 9, 2021

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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.

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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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WFP: $65 Million Needed to Ease Zimbabwe Food Insecurity

The World Food Program (WFP) says it is seeking $65 million to ease food insecurity in Zimbabwe. The U.N. agency says its assessment shows that more than 5 million people in the southern African nation are looking at food shortages in coming months.

A WFP Zimbabwe spokeswoman told VOA on Monday that the U.N. agency had started looking for funds to import food for those in need.

“The latest 2021 rural Zimbabwe vulnerability assessment committee rural report indicates that 2.9 million people in rural areas – that’s 27% of rural households – continue to be food insecure during the peak lean season between January and March 2022. In urban areas up to 2.4 million people are expected to be food insecure according to the latest 2021 urban livelihoods assessment,” she said.

The government says Zimbabwe experienced a bumper harvest this year, but the lack of food in rural areas indicates the harvest was in fact disappointing.

Information Minister Monica Mutsvangwa says Zimbabwe’s perennial food shortages will end with more production in the farms in the coming 2021/2022 season, which is expected to start anytime now.

She says the government will make sure farmers have the supplies and money they need to meet national requirements for both human consumption and industrial use.

“The strategy will result in more area being put to crop production as evidenced by the proposed increases of the following crops: maize, sorghum, pearl millet, finger millet, soybeans and tobacco. The financing of the summer cropping and livestock will be through the private and public sector as well as development partners,” Mutsvangwa said.

Zimbabwe, once the breadbasket of the region, has for years been facing food shortages, forcing it to rely on humanitarian organizations such as World Vision, USAID and the WFP to feed the people.

The government blames the problems on recurring droughts, but its critics point to a chaotic land reform program which started in 2000 and displaced experienced white farmers from their land.

Source: Voice of America

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UN Says 16 Staff, Dependents Detained in Ethiopia

The United Nations said Tuesday that 22 of its Ethiopian national staff were detained by the federal government in Addis Ababa, following raids reportedly targeting ethnic Tigrayans. Six of the U.N. staffers have been released.

“We are of course actively working with the government of Ethiopia to secure their immediate release,” U.N. spokesperson Stephane Dujarric told reporters of the 16 who remain in detention. “It is imperative that they are released.”

He said no explanation was given for the detention of the staffers, who work for various U.N. agencies. He said “some of them have been detained over the last few days.” U.N. security officers have visited those who remain in custody.

On September 30, Ethiopia expelled seven U.N. humanitarian officials, saying they were meddling in the country’s affairs.

The announcement of the detentions comes just a day after U.N. humanitarian chief Martin Griffiths concluded a four-day visit to the country to try to improve aid access to northern Ethiopia.

He met with Prime Minister Abiy Ahmed and made a one-day trip to Mekelle, the capital of the Tigray region.

Last Thursday marked the first anniversary of Prime Minister Abiy’s deployment of troops to Tigray in response to forces of the Tigray People’s Liberation Front (TPLF) seizing military bases.

The ensuing conflict has killed thousands of people, displaced several million from their homes and left millions in need of aid and at least 400,000 residents of Tigray facing famine, according to the United Nations.

The conflict threatens to spill into the capital as the TPLF and allied groups have threatened to march there.

A week ago, the Ethiopian government declared a six-month state of emergency and called on residents to defend their neighborhoods if rebels arrive in the capital.

That declaration allows the government to arrest without warrants anyone it claims is collaborating with rebels, Reuters reported. There have been reports of Tigrayans being arrested in Addis Ababa.

Asked if the detained staffers are Tigrayan, U.N. spokesman Dujarric said: “It’s a valid question, but for us, these are United Nations staff members. They are Ethiopians. They are U.N. staff members and we’d like to see them released, regardless of whatever ethnicity is listed on their identity cards.”

A joint investigation by the United Nations and the government-created Ethiopian Human Rights Commission found that all sides in the Tigray conflict have committed human rights violations, including torture of civilians, gang rapes and arrests based on ethnicity. U.N. High Commissioner for Human Rights Michelle Bachelet said some of those abuses may amount to war crimes and crimes against humanity.

Last week, the U.S. urged all Americans to depart Ethiopia and cautioned against travel there. It renewed its call for Americans to leave on Tuesday, saying the security situation “remains very fluid.”

Source: Voice of America

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