The past 10 – 15 years have been marked by a rise in new Financial Technology (Fintech) companies in the financial services industry. The provision of financial services has actually been evolving since the installation of the first permanent telegraphic transatlantic cable in 1866, the introduction of the credit card in the 1950s to more recently, digital currencies and crypto assets in the wake of the 2008 - 2009 global financial crisis. This evolution has resulted in the expansion of the sector. Moreover, the potential role that digital payments have in curtailing the spread of COVID-19, intensified the importance of fintech in 2020. As such, the coronavirus pandemic could be a springboard that would accelerate and strengthen trends that were already in motion, with the long-term effect of facilitating fintech and digitalisation.
Tsa Tuelano is a public education campaign resource developed by the Bank of Botswana for disseminating information on general and specific national payments system (NPS) developments and related public education issues. The Newsletter covers issues on areas of interest, such as innovation in the payments systems and presents on activities undertaken by the Bank in this regard, in Botswana, the region and the international community.