Quick reads for this week

UnionPay strengthens partnership with Standard Bank to advance digital payments in Africa

UnionPay has announced that it has welcomed senior leadership from Standard Bank for high-level discussions, reinforcing their long-standing partnership aimed at advancing digital payment solutions across Africa.

According to UnionPay, the collaboration, which dates back to 2010, focuses on financial innovation and expanding digital payment access.

The group says the strategic partnership between UnionPay and Standard Bank seeks to enhance acquiring, e-commerce acceptance, and contactless payments across multiple African countries.

The partnership is set to capitalise on the continent’s rapidly growing e-commerce sector, boosting global connectivity and fostering economic prosperity.

Discussions during the visit will explore new opportunities to build on this partnership, expanding digital payment capabilities, and improving cross-border financial connectivity. Both organisations aim to meet the evolving needs of businesses and consumers in South Africa and beyond.

"We are committed to innovation and collaboration, ensuring our customers benefit from seamless digital payment solutions," said Steven Barker, head of product at Standard Bank. Asad Burney, head of UnionPay Africa, expressed excitement at taking the partnership to the next level, with key projects slated for this year.

Old Mutual Education Trust Mentorship Programme empowers graduates

Old Mutual says its Old Mutual Education Trust (OMET) is empowering its graduates to reach their full potential through a comprehensive mentorship programme designed to support final-year students as they transition into the world of work.

“The programme offers career coaching, guidance, and personal development support over a 10-month period,” says Leonie Sampson, head of OMET. “Our goal is to help students prepare for life after graduation.”

OMET is a scholarship programme offering partial funding, access to laptops, tutoring, and psycho-social support to union members and their families.

Who can apply?

You are eligible for the scholarship if:

• you are a paid-up member or full-time and permanent employee of one of the 10 partner trade unions: or
• you are the spouse (as legally defined) of a paid-up member or full-time and permanent employee of one of the partner trade unions; or
• you are under 25 and a dependant of a paid-up member or full-time and permanent employee of one of the trade unions; and
• you intend to pursue your studies at an official public university in South Africa; and
• you are studying towards your first undergraduate qualification (degree or National Certificate).  

Cell C Responds to cybersecurity incident and data disclosure

Cell C has confirmed that data compromised in a recent cybersecurity incident has been unlawfully disclosed by RansomHouse, the threat actor claiming responsibility. This follows a prior incident involving unauthorised access to unstructured data within parts of the company’s IT environment.

The company expressed regret over the situation, acknowledging the concern it may cause to employees, customers, partners, and stakeholders. "We deeply regret this development," said Cell C, highlighting their commitment to transparency and safeguarding stakeholder interests.

To support affected individuals, Cell C has launched an Information Hub at www.worldofcellc.co.za/information-hub, offering tips on protecting against cybercrime, guidance on fraud prevention, and answers to frequently asked questions regarding the incident.

Cell C has taken immediate steps to contain the threat, secure its systems, and mitigate any impact. These actions include engaging top international cybersecurity experts, notifying the Information Regulator and relevant authorities, and keeping stakeholders informed.

Cell C urges everyone to remain vigilant against fraud, phishing, and identity theft, with resources on fraud prevention and cybersecurity available on their website.

PERSONAL FINANCE