There are several exciting trends emerging that will shape the way businesses and consumers process payments worldwide
NAIROBI, Kenya, March 29, 2023/APO Group/ —
A global payment processing system is a network that enables financial institutions to process cross-border payments. It allows for currency exchange between banks and other financial institutions across borders. The system is used by businesses and individuals to make international payments, such as for goods and services purchased online.
Currently, this system is going through radical changes that are transforming how individuals and businesses send and receive money. Furthermore, there are several exciting trends emerging that will shape the way businesses and consumers process payments worldwide. From cryptocurrency and contactless transactions to artificial intelligence, these innovations are set to transform the industry as we know it.
What is a payment processor?
A payment processor is a financial institution that provides the technology and infrastructure necessary to facilitate global payment processing. Payment processors work with acquiring banks to provide merchants with the ability to accept credit card and debit card payments from customers around the world. Payment processors typically offer a suite of payment-related services, including merchant account management, payment gateway (https://apo-opa.info/42IetFv) and point-of-sale (POS) services, fraud prevention, and security solutions, and access to financing products. In addition, many payment processors offer value-added services such as loyalty programs, customer data analytics, and marketing assistance.
How big is the global payment industry?
A report by the Business Research Company suggests that the global payments market (https://apo-opa.info/3ZsekTH) will record a growth of $612.04 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. Additionally, the report indicates that the global payments market will grow to $847.59 billion in 2027 at a (CAGR) of 8.5%. To begin with, new real-time payment platforms allow consumers and businesses to transfer money quickly, securely, and reliably across different banks and institutions. Again, there is an increased focus on security and data privacy (https://apo-opa.info/431uF4X) regarding payment processing. For instance, financial institutions are implementing more robust authentication processes to protect against fraud, as well as introducing new technologies such as biometrics and blockchain to strengthen security.
Trends reshaping payment processing in Africa
How we make and receive payments (https://apo-opa.info/3JVIxVx) is changing rapidly, and Africa is at the forefront. What’s more, new technologies and trends in global payment processing are reshaping the continent, making it easier for businesses to trade with each other and with the rest of the world. One of the most significant changes is the growth of mobile money. Equally important, more and more people in Africa are using their phones to send and receive payments, thanks to platforms like M-Pesa in Kenya and MTN Mobile Money in Ghana.
Additionally, payment gateways like Tingg (https://apo-opa.info/42IetFv) are reshaping how to send and receive money online in Africa. This makes it easier for businesses to transact without going through a traditional bank. Another trend that’s reshaping Africa is the rise of blockchain technology. Blockchain allows for secure, fast, and cheap transactions without a middleman. This could potentially revolutionize African economies by making it easier to move money around without losing value through exchange rates or fees. These trends are just some ways that global payment processing is changing Africa. They’re making it easier for businesses to trade with each other and connect with the rest of the world.
Is cash declining?
The decline of cash has been a long time coming. For years, experts have predicted the death of cash as we know it, and while that hasn’t happened yet, the writing is on the wall. Moreover, several factors are driving this shift away from cash.
Perhaps most importantly, technological advances have made alternative payment methods more convenient and secure. At the same time, consumer behaviour is changing, with younger generations, in particular, preferring digital payments. Interestingly, a survey from McKinsey indicates that the domination of cash in Africa will be challenged soon as e-payments become increasingly popular (https://apo-opa.info/3JThrOT). Banks and nonbank organizations are trying to simplify domestic and international payments.
All of this is having a significant impact on the payments industry. Companies that process card payments are seeing rapid growth. Despite the digital revolution, adopting electronic payment methods in Africa is still not widespread. Although cash use is diminishing, it remains the primary means of transaction in African nations. This shift will likely continue in the years ahead as more consumers and businesses move away from cash.
Here are trends shaping global payment processing:
Mobile wallets
As mobile commerce continues to grow, so does the demand for mobile wallets. A mobile wallet is a digital wallet that allows users to make payments and access their funds using a mobile device. In 2023, it is estimated that there will be 1.31 billion proximity mobile payment transaction users (https://apo-opa.info/3ZpPcwV) worldwide, up from 950 million users in 2019.
The most popular type of mobile wallet is the smartphone wallet, which allows users to make payments and access their funds using their smartphone. Other mobile wallets include NFC wallets, which use Near Field Communication technology to enable contactless payments, and cloud-based wallets, which allow users to store their funds in the cloud and access them from any device. With more and more people using mobile devices to pay for goods and services, it is clear that mobile wallets are here to stay. As such, businesses must ensure they can accept payments via mobile wallets (https://apo-opa.info/3JVIxVx) to stay ahead of the competition.
Cryptocurrencies
The report indicates that the global payments market will grow to $847.59 billion in 2027 at a (CAGR) of 8.5%
Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and control the creation of new units. Besides that, Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services. Bitcoin remains the largest cryptocurrency by market capitalization, followed by Ethereum, Tether, Binance Coin, and Cardano.
Cryptocurrencies have seen significant growth in recent years, fueled by increased interest from retail and institutional investors. However, cryptocurrencies face scalability issues, regulatory uncertainty, and a lack of mainstream adoption. Nevertheless, the cryptocurrency industry is expected to grow in the coming years.
As digital currencies continue to grow in popularity worldwide, Africa is emerging as a critical market for these new types of payments.
Global payment processing companies are noticing this trend and investing in African countries to tap into this growing market. Blockchain is a distributed ledger system that makes it difficult for anyone to hack or tamper with transactions. Reports indicate that In 2023, more than two dozen nations (https://apo-opa.info/3JXb7po) are expected to take a giant leap with the piloting of CBDCs. Several countries, such as Australia, Thailand, Brazil, India, South Korea, and Russia, already have plans to begin or further their pilot testing.
The growth of e-commerce
The e-commerce industry is expected to overgrow in the coming years. In 2023, the global e-commerce growth rate is expected to grow by 10.4%, bringing global e-commerce sales (https://apo-opa.info/40GSsoK) to $6.3 trillion.
Several factors will drive this growth:
1. The continued expansion of the internet and mobile devices.
2. The rise of social media and mobile commerce
3. The increasing popularity of online shopping.
In addition to this overall growth, there are a number of other trends that are shaping the global payment processing industry. These include the rise of alternative payment methods, the increasing use of mobile apps for payments (https://apo-opa.info/40JQDY8), and the growth of cross-border e-commerce. Alternative payment methods, such as digital wallets, are becoming increasingly popular as consumers seek more convenient and secure ways to pay for online purchases.
Biometric authentication
The need for secure authentication methods grows as the world becomes increasingly digitised. Biometric authentication, which uses physical or behavioural characteristics to verify identity, is one of the most promising technologies.
Several factors are driving the adoption of biometric authentication in the payments industry.
Consumers are becoming more comfortable with using biometrics for authentication. This is due to the widespread use of smartphone fingerprint scanners and facial recognition technology.
Biometric authentication offers higher security than traditional methods like passwords and PINs. It is much harder for criminals to steal someone’s identity or to spoof their credentials.
Biometric authentication is becoming more affordable as the technology continues to mature. This is important for financial institutions that must balance security concerns with cost considerations.
Some major payment processors are beginning to support biometric authentication. Some companies like Mastercard notably unveiled fingerprint and iris scanning (https://apo-opa.info/3zdzyKa) into their global network and have embraced biometric authentication.
Government regulations are starting to catch up with the times. This is likely to spur even greater adoption of biometric authentication in the payments sector in the future.
Global payment processing and regulation
The impact of regulation on payment processing (https://apo-opa.info/3lS4Kvu) is far-reaching. Compliance with regulations such as the Payment Card Industry Data Security Standard (PCI DSS) is costly. In addition to the financial impact, compliance with these regulations imposes significant operational burdens on businesses. These requirements are challenging for small and medium-sized companies in particular.
Despite the challenges, businesses need to stay compliant with payment processing regulations. Non-compliance can lead to severe penalties, including fines, reputational damage, and loss of business.
Conclusion
Global payment processing will be pretty different in the future from what it is today. As technology advances, we will see more secure and efficient payment methods. Additionally, the need for transparency and faster transactions are pushing forward global payment processing trends such as blockchain and fintech. With all these changes coming our way in 2023, businesses should stay competitive (https://apo-opa.info/3KdHdxx) in an ever-changing marketplace.
Eni-led LNG expansion and ongoing deepwater investment are pushing the Republic of Congo’s energy sector toward more bankable projects ahead of the Congo Energy & Investment Forum 2027
BRAZZAVILLE, Congo (Republic of the), June 23, 2026/APO Group/ –With LNG exports set to triple to 3 mtpa, upstream oil production targeting 500,000 bpd and a renewed push on local content, the Republic of Congo is positioning itself as one of Central Africa’s most investable hydrocarbon markets. Under the leadership of the newly-appointed Minister of Hydrocarbons, Stev Simplice Onanga, the country is prioritizing industry growth by balancing local content with reserve replacement and project advancement.
What sets Congo apart is not the scale of its reserves, but the pace at which those reserves are being turned into commercially viable projects. From Eni’s LNG expansion and TotalEnergies’ deepwater developments to brownfield optimization by Trident Energy and output growth at Ammat Global Resources, capital is flowing into projects with clearer monetization pathways and nearer-term returns.
Ahead of the Congo Energy & Investment Forum (CEIF) 2027 – the country’s leading platform for energy investment and partnerships – the story is shifting away from frontier potential toward bankable projects already under development.
Policy Reform Is De-Risking Investment
Congo’s investment case is being reshaped by the alignment of resource base, regulatory reform and project delivery. Established oil production, expanding LNG capacity and fiscal adjustments are gradually reducing above-ground risk.
Recent reforms led by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo have added structure to the sector. The Gas Code, introduced in October 2025, formalizes fiscal terms for gas commercialization, while the Gas Master Plan prioritizes flaring reduction and gas-to-power deployment, targeting 1,500 MW by 2030.
A new upstream licensing round is also under consideration, aimed at attracting fresh capital into both mature and frontier acreage. Together, these measures are improving visibility across upstream, midstream and downstream segments, with recent project activity reinforcing the shift.
The Projects Driving the Next Cycle
Deepwater oil remains central to Congo’s production outlook, with operators progressing both new developments and brownfield optimization. TotalEnergies is advancing work at the Moho licence following the April 2026 Moho G discovery, backed by a $500–$600 million infill drilling program targeting about 40,000 bpd in incremental output.
Local independent Ammat Global Resources is targeting 70% production growth from its Loango and Zatchi fields, where reactivated wells and upgraded platforms have already lifted output by 75%. Perenco continues steady gains, adding roughly 6,000 bpd through its 2025–2026 drilling program.
Trident Energy, after acquiring an 85% working interest in the Nkossa and Nsoko II assets in 2025, is focused on extending field life through subsea optimization and redevelopment work.
While oil continues to anchor revenues, gas is rapidly emerging as Congo’s fastest-growing segment. Eni’s Congo LNG project delivered its first cargo from Phase 2 in February 2026, following the startup of the Nguya FLNG unit in December 2025. Together with Tango FLNG, capacity has risen from 0.6 mtpa to 3 mtpa. Trident Energy has also proposed an FLNG project aimed at adding further capacity across the country’s gas market. The project is expected to operate as shared infrastructure, allowing multiple operators to process gas from their respective fields. This creates an outlet for associated gas that might otherwise be stranded, supporting the country’s broader diversification goals.
Local Content Is Reshaping Investment Terms
Beyond upstream policy, Minister Onanga has positioned local content as a central pillar of Congo’s investment framework, and a key determinant of how capital is structured and deployed.
Decrees 2019-342, 343, 344 and 345 set requirements around subcontracting, workforce localization and training commitments, with the effect being a gradual shift in how projects are structured and how partnerships are formed. Operators are increasingly assessed not only on technical delivery but on in-country value creation, including partnerships with local firms and skills development. Logistics, maintenance and other service areas are increasingly channeled through domestic providers.
At CEIF 2027 – taking place June 1–3 in Brazzaville – attention will shift to what is moving forward and to the investors positioned to take part in that pipeline. Congo’s energy sector is no longer defined by potential alone: projects are moving, capital is being committed and policy is starting to catch up with activity on the ground.
As the Republic of Congo moves from reserves to revenue, the signal to investors is clear: this is already unfolding, not a future opportunity.
Distributed by APO Group on behalf of Energy Capital & Power.
Afreximbank secures double honours at the 2026 International Association of Business Communicators (IABC) Gold Quill Awards for excellence in strategic communications
The Award of Excellence for IATF2025 recognises the successful communications and stakeholder engagement programme delivered around the fourth edition of the Intra-African Trade Fair, Africa’s premier trade and investment event
CAIRO, Egypt, June 23, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has been recognised with two prestigious honours at the 2026 International Association of Business Communicators (IABC) Gold Quill Awards, one of the world’s most prestigious awards programmes for strategic communications.
The Bank received an Award of Excellence in Special and Experiential Events category for the Intra-African Trade Fair 2025 (IATF2025) held in Algiers, Algeria and an Award of Merit in the Social Media category for its Afreximbank Social Media Campaigns, reaffirming Afreximbank’s commitment to delivering impactful communications that advance its mandate of promoting trade, investment and industrialisation across Africa and the Caribbean.
We are delighted to receive these two awards, which attest to the expertise, creativity and efficiency of Afreximbank’s communication
The Award of Excellence for IATF2025 recognises the successful communications and stakeholder engagement programme delivered around the fourth edition of the Intra-African Trade Fair, Africa’s premier trade and investment event. IATF2025 brought together governments, businesses, investors, buyers, sellers and entrepreneurs from across Africa and beyond, creating a platform for trade and investment opportunities while advancing the objectives of the African Continental Free Trade Area (AfCFTA). The communications campaign played a pivotal role in driving global awareness, stakeholder participation, media visibility and engagement before, during and after the event, while showcasing the scale, ambition and dynamism of African enterprise and reinforcing a positive narrative about Africa’s capacity to trade, industrialise and compete on the global stage. Over 120,000 delegates attended IATF2025 in person and virtually, with deals worth over US$50 billion recorded.
The Award of Merit for Afreximbank Social Media Campaigns recognises the Bank’s strategic use of digital platforms to engage stakeholders, amplify its developmental impact and elevate conversations around trade, industrialisation, economic integration and investment opportunities across Africa and the Caribbean. Through a combination of compelling storytelling, thought leadership content, executive advocacy, multimedia production and real-time event coverage, Afreximbank’s social media platforms have continued to expand their reach and influence among policymakers, businesses, investors, development partners and the wider public. Among these platforms is the Afreximbank TV, a digital TV channel that is wholly owned and managed by Afreximbank, whose fifth edition was celebrated with dedicated coverage of IATF2025, providing live coverage of the activities to both pan African and global audiences.
Anne Ezeh, Director & Global Head, Communications and Events at Afreximbank commented: “We are delighted to receive these two awards, which attest to the expertise, creativity and efficiency of Afreximbank’s communications. As a pan African multilateral financial institution, we see storytelling as a powerful tool for advancing our mission — ensuring our initiatives, events, programmes and key announcements not only inform, but also inspire confidence, deepen engagement and amplify Africa’s transformation. These awards reinforce our resolve to continue delivering world-class communications that elevate African voices and projects a bold and authoritative narrative of the continent.”
Ms. Ezeh added that through innovative storytelling, digital engagement and integrated campaigns, the Bank will continue to amplify the impact of its programmes and partnerships to project a more authentic narrative of Africa, one defined by opportunity, innovation, resilience and growing influence in the global economy.
For more than five decades, the IABC Gold Quill Awards have recognised excellence in strategic communications globally, celebrating programmes and campaigns that demonstrate measurable impact, innovation, creativity and outstanding execution. Widely regarded as the pinnacle of achievement in the communications profession, the awards are judged through a rigorous and independent evaluation process conducted by experienced communication leaders from around the world.
Distributed by APO Group on behalf of Afreximbank.
In 2025, IsDBI significantly expanded its footprint in Islamic finance transformation, approving 25 new technical assistance projects valued at US$4.14 million and completing 19 projects worth US$3 million
BAKU, Azerbaijan, June 23, 2026/APO Group/ —
The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) has released its 2025 Annual Report during the 2026 IsDB Group Annual Meetings held in Baku, Azerbaijan, showcasing a year of expanded impact in Islamic finance transformation, innovative solutions, and capacity development.
The report highlights how IsDBI strengthened its role as a global knowledge leader by advancing innovative solutions and scaling support to Member Countries through knowledge-based interventions, Islamic finance grants, and strategic partnerships.
In 2025, IsDBI significantly expanded its footprint in Islamic finance transformation, approving 25 new technical assistance projects valued at US$4.14 million and completing 19 projects worth US$3 million, supporting countries in strengthening regulatory frameworks and promoting inclusive financial systems.
Since 2013, the Institute’s interventions in this regard have reached over US$27.57 million across 181 projects benefiting more than 34 countries, underlining its sustained contribution to development outcomes across the Islamic world.
I am pleased to note that the Institute has continued to strengthen its unique role in the global development ecosystem
The Annual Report highlights major progress in IsDBI’s three flagship transformative projects, namely Awqāf Free Zones, Digital Postal Islamic Financial Services, and Smart Countertrade System, which have all advanced to pilot-ready stages. These initiatives aim to address global challenges such as financial inclusion, food and energy security, and trade resilience.
Furthermore, the Institute accelerated its focus on digital innovation in Islamic finance, enhancing its Islamic Finance Artificial Intelligence Assistant (IFAA) and hosting its first AI Hackathon on Islamic Finance, engaging more than 40 teams in developing cutting-edge solutions aligned with industry standards.
Human capital development in Islamic finance also remained a cornerstone of IsDBI’s work in 2025, with the delivery of over 20 training programs reaching around 500 professionals across Member Countries. A key achievement in this area was the Entrepreneurial Mindset Development Program, a flagship initiative equipping emerging leaders from 20 countries with innovation-driven and values-based entrepreneurship skills. The program was designed and implemented in collaboration with Prince Mohammed Bin Salman College of Business and Entrepreneurship, Saudi Arabia.
The Institute also strengthened its thought leadership through flagship publications, global partnerships, and digital engagement, reinforcing its position as a leading voice in Islamic economics and finance.
Commenting on the issuance of the Annual Report, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said: “I am pleased to note that the Institute has continued to strengthen its unique role in the global development ecosystem by bridging knowledge creation, building human capital, and designing innovative solutions to address economic challenges.”
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