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New Central Bank of Malta directive will affect cheque payments as from 2022
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Cheques below €20 cannot be issued from next year - The Malta Independent
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Automated Clearing House sees same-day processing
Last year, financial institutions, businesses and consumers using the Automated Clearing House (ACH) network to send and process payments gained the ability to send and receive same-day credits in the first phase of three stages in same-day ACH rollout
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Companies quickly incorporated same-day credits into payments strategy and now send nearly 200,000 of these transactions daily, reports NACHA, The Electronic Payments Association.
The second phase of same-day ACH processing, same-day debit requests, began on Sept. 15. As with credits, debits will be limited to domestic transactions of $25,000 or under. Businesses are not obligated to receive any ACH debit requests when another party debits their account, so financial executives should take time to evaluate the pros and cons of participating.
Mastercard welcomes Victor Ndlovu as Director, East Africa
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Mastercard has today announced the appointment of Victor Ndlovu as Director, Country Business Development Lead for East Africa.
Victor is a seasoned business leader with close to three decades of solid experience in the fintech, banking, and payments industry. He joins Mastercard from South Africa’s fintech firm Ukheshe, where he spearheaded the fintech’s presence in Africa with deals at KCB Bank and Ecobank Pan Africa.
In his new role, Victor is responsible for growing Mastercard’s regional footprint in the East Africa region through increasing market share, driving market acceptance, and increasing the number of customer touchpoints.
“I am pleased to announce the appointment of Victor Ndlovu as Mastercard’s “Country Business Development Lead – East Africa.” With his responsibility to drive business growth across our footprint in this geography, I’m sure Victor will bring to bear his vast experience and deep payments expertise to successfully take the Mast