Nedbank Acquires SME Payment Startup iKhokha for $90M
Hey Payments Fanatic!
Nedbank, one of South Africa’s largest banks, is set to acquire payments startup iKhokha in an all-cash deal worth $90 million.
This move will merge Nedbank’s established banking infrastructure with a platform already relied on by thousands of SMEs for payments, working capital, and business management tools.
“By combining their innovative technology with our deep banking experience, we will provide small business clients with best-in-class tools to thrive,” said Ciko Thomas, Group Managing Executive for Personal & Private Banking at Nedbank.
Keep scrolling to dive deeper into the Nedbank and iKhokha deal and get today’s Payments dose 👇
See you tomorrow!
Cheers,
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GOLDEN NUGGET
🚨 Part 4: What is 𝐓𝐨𝐤𝐞𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧 & 𝐕𝐚𝐮𝐥𝐭𝐢𝐧𝐠 by CellPoint Digital 👇 Created by Arthur Bedel 💳 ♻️
𝐕𝐚𝐮𝐥𝐭𝐢𝐧𝐠 refers to the secure storage of sensitive payment data (e.g., PANs, CVV, expiry) within a PCI-compliant environment.
Once stored, this data is tokenized, allowing it to be reused for future transactions — such as rebookings, upgrades, or refunds — without exposing the original card details.
𝐄𝐧𝐜𝐫𝐲𝐩𝐭𝐢𝐨𝐧 𝐯𝐬. 𝐓𝐨𝐤𝐞𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧
Although both protect sensitive data, their core functions differ:
🔐 𝐄𝐧𝐜𝐫𝐲𝐩𝐭𝐢𝐨𝐧 converts plain text into unreadable ciphertext using an algorithm and a key. It’s reversible — if the key is compromised, so is the data.
🔐 𝐓𝐨𝐤𝐞𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧 replaces sensitive data with a unique token. The token has no intrinsic value and can’t be decrypted — only mapped back to the original data via the secure vault.
→ Tokenization aligns with PCI-DSS compliance requirements, not Encryption.
𝐓𝐲𝐩𝐞𝐬 𝐨𝐟 𝐓𝐨𝐤𝐞𝐧𝐬 𝐢𝐧 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬
𝐀𝐜𝐪𝐮𝐢𝐫𝐞𝐫 𝐓𝐨𝐤𝐞𝐧𝐬 — Issued by acquiring banks to enable processing continuity and reconciliation across merchant portfolios.
𝐈𝐬𝐬𝐮𝐞𝐫 𝐓𝐨𝐤𝐞𝐧𝐬 — Created by the issuing bank, often linked to risk scoring and lifecycle management.
𝐍𝐞𝐭𝐰𝐨𝐫𝐤 𝐓𝐨𝐤𝐞𝐧𝐬 — Issued by card networks (Visa, Mastercard...); dynamically updated when cards are reissued, enhancing approval and fraud protection.
𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐓𝐨𝐤𝐞𝐧𝐬 — One-time-use tokens tied to a specific transaction or session, ideal for guest checkout or dynamic CVV use cases.
𝐌𝐞𝐫𝐜𝐡𝐚𝐧𝐭 𝐓𝐨𝐤𝐞𝐧𝐬 — Proprietary tokens issued by the merchant or orchestration layer; enable unified identity and checkout across multiple PSPs
→ A 𝐥𝐚𝐲𝐞𝐫𝐞𝐝 𝐭𝐨𝐤𝐞𝐧 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐲 ensures flexibility, security, and optimization across the payment stack.
𝐓𝐨𝐤𝐞𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐏𝐫𝐨𝐜𝐞𝐬𝐬: How It Works
1️⃣ Customer enters card information during checkout
2️⃣ Sensitive data is transmitted to the vaulting service
3️⃣ A token is returned and stored by the merchant (or orchestration platform)
4️⃣ This token is reused for future payments — recurring, refunds, upgrades — without re-entering the card
5️⃣ When network tokens are used, they are automatically updated upon card expiration or reissuance
𝐓𝐡𝐞 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐨𝐟 𝐓𝐨𝐤𝐞𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧
→ Reduced PCI Scope — PANs are never stored in merchant systems
→ Stronger Security Posture — Even if intercepted, tokens are meaningless to attackers
→ Operational Efficiency — Tokens streamline refunds, cancellations, and rebookings
→ Improved Approval Rates — Network tokens align with issuer preferences
Tokenization is no longer a security add-on — it’s a core component of modern, intelligent travel payment infrastructure.
Source: CellPoint Digital
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