by Robin Philip Robin Philip No Comments

Branded Voucher System

We have been asked to quote on a build of a branded voucher system for an online gambling anfd sports betting company . . here is what it would look like!

The voucher system will have the following functions:

  • The ability to create a branded voucher (including prefix’s of ticket numbers etc)
  • Ability to create vouchers via API on demand
  • Ability to mass create vouchers of certain denominations and export them
  • Ability to redeem entire or partial voucher amounts via API
  • Reporting on all of the above

From the date we start the work this will take a month to build.

Do you need something like this?

by Robin Philip Robin Philip No Comments

Things that keep eCommerce merchants awake at night.

If you are an eCommerce merchant juggling the complexities of online payments? You’re not alone!

In a recent discussion with a leading South African eCommerce person highlighted some key concerns that keep merchants up at night:

  • Safeguarding against risk and fraud: The surge in transaction volumes, especially during peak seasons like December and January, requires constant vigilance and robust security measures. International card fraud is a particular worry, with merchants needing to balance security with the desire to serve legitimate customers using foreign cards.
  • The ever-evolving payments landscape: New payment methods emerge, customer preferences shift, and pricing models change, requiring merchants to adapt quickly and offer a variety of options.
  • Maintaining high uptime and conversion rates: Ensuring that payment systems are reliable and efficient is crucial for providing a seamless customer journey and maximizing revenue. Having alternative processing options and failover mechanisms in place is essential to minimize downtime.
  • Balancing customer experience with security: Customers have their favourite payment methods and providers, and there is a fine line in balancing optionaity and security with the simplicity of the customer experience .
  • Keeping up with technology: New innovations like network tokenization with Visa and Mastercard offer enhanced security and a seamless experience, but merchants need to stay informed and implement these technologies effectively.

It’s clear that being a merchant in today’s digital world requires agility, resilience, and a deep understanding of the payments ecosystem. What are your biggest payment-related challenges? A problem shared is a problem halved.

by Robin Philip Robin Philip No Comments

South African local online payment preference  

🇿🇦

To optimise customer experience and revenue, it’s crucial to understand local payment preferences.

Here’s a closer look at what’s trending:

  • Vouchers: Vouchers are a dominant force, particularly a customised own bepoke merchant voucher, with smaller denominations often being most popular.
  • Instant EFT (Electronic Funds Transfer): A significant payment method due to its favourable costing.
  • Credit and Debit Cards: While still important, debit cards more common than credit cards for the lower LSMs, the card market is being eroded by alternative payment methods.
  • Capitec Pay: Has grown significantly in popularity.
  • PayShap: A more general, instant banking model to debit bank accounts using a mobile number.

Key takeaways:

  • Local nuances matter: Payment preferences vary significantly based on vertical.
  • Diversification is key: Offering a range of payment options caters to a broader customer base to increase conversion rates.

Diversify your payment options and improve the customer experience?

Let’s discuss how to navigate the South African payment landscape effectively! 

#SouthAfrica #Payments #Fintech #eCommerce #Vouchers #InstantEFT

by Robin Philip Robin Philip No Comments

1 Million Credit Cards Leaked!  How Visa and Mastercard Tokenization Can Protect You

There was a massive data breach where over 1 million credit card details that were leaked on a deep web forum. This included sensitive information like card numbers, expiry dates, CVV, and even personal details like names, addresses, and phone numbers. This is a stark reminder of the risks we face in the digital age.

So, how can we protect ourselves and our customers?

Tokenization is a key solution. Both Visa with its Visa Token Service (VTS) and Mastercard with its tokenization services replace sensitive card details with a unique digital identifier, or “token”. This means that your actual card information is never shared when you make a purchase online, in-app, or in-store.

Benefits of tokenization:

  • Reduced Fraud Risk: Tokens protect sensitive information from theft and fraud.
  • Enhanced Security: Higher approval rates due to lower fraud risk. Cryptograms add another layer of security with a unique value that verifies each transaction.
  • Seamless Experience: Tokenisation simplifies the consumer purchasing experience. If your physical card is lost or stolen, you can continue to use your tokenised card while waiting for a replacement.
  • Versatile Usage: Tokens can be used in-store, in-app, and online to make secure digital transactions.

We are completing the integration of these tokenization services and will soon make them available to merchants! We’re committed to providing cutting-edge payment solutions that prioritise security and customer experience. 

Let’s work together to create a safer payment ecosystem. 

#tokenization #datasecurity #cybersecurity #visatokenization #mastercard #paymentsolutions

Thank you to The PayPers for inspiration 

https://thepaypers.com/digital-identity-security-online-fraud/illegal-marketplace-allegedly-releases-1-million-credit-cards-on-a-deep-web-forum–1272464

by Robin Philip Robin Philip No Comments

Is Your eCommerce Business Prepared for Network Tokenisation?

Banks and card schemes Visa and Mastercard are pushing for implementation of network tokenisation, a move that assists by removing the need for manual card entry. This is a good opportunity for merchants to create faster, more secure, and convenient payment experiences for their customers. 

African Payment Solutions is at the forefront of network tokenisation implementation, having completed it with Visa and Mastercard. This ensures that merchants can leverage this new tech and enjoy the benefits of improved conversions, better security, more flexibility, and reduced cart abandonment.

We offer seamless integration, allowing you to effortlessly implement this capability, while avoiding fines and keeping up with card scheme mandates.

Don’t fall behind; be at the forefront of payment innovation.

Ready to enhance your customer experience and stay ahead of the curve? Discover how African Payment Solutions is leading the way in network tokenisation. Contact us today to learn more.

#NetworkTokenisation #eCommerce #Payments #FinTech #DigitalPayments #Innovation #CardSchemes

by Robin Philip Robin Philip No Comments

AI Agent with Stored Credentials

Another model of Agentic payments for eCommerce

AI Agents using stored credentials you approve. This is like having an assistant who asks for approval before paying. The agent uses securely stored card information, pre-populating details for a smoother experience. While offering a better user experience, it still gets stuck on the payment screen.

Google, take note: Chrome should be doing this already!

#AgenticPayments #AI #Fintech #CheckoutModel2

Thank you to Fintech Brainfood for inspiration https://www.fintechbrainfood.com/p/four-models-agentic-payments

by Robin Philip Robin Philip No Comments

High-Level Overview of the Future of AI at the Checkout

AI is revolutionising the checkout experience, making it almost obsolete. Here are four models of agentic payments that are changing how we transact. From AI agents performing checkouts with human input to those with their own stablecoin wallets, the future of payments is agent-centric, more programmable and less visible to the end-user. Is your business ready for the shift?

There are four agentic payment models:

  • Model 1: Human-in-the-Loop. The AI agent assists with online tasks but requires manual card information entry at the checkout page.
  • Model 2: Stored Credentials. The AI agent uses pre-populated card details that are securely stored, needing user approval before payment.
  • Model 3: Virtual Card. The AI agent is given a virtual card with a budget and spending controls to make autonomous payments.
  • Model 4: Stablecoin Wallet. The AI agent has its own wallet with cryptocurrency to conduct transactions independently, enabling seamless payments.

Thank you to Fintech Brainfood for inspiration https://www.fintechbrainfood.com/p/four-models-agentic-payments

#AgenticPayments #AI #Fintech #Innovation

by Robin Philip Robin Philip No Comments

Beyond Payments: Why a Holistic Approach is Essential for eCommerce Success in Africa

In the evolving world of eCommerce, payments are only one part of a complex ecosystem.

The modern customer expects seamless, convenient, and secure transactions.

To excel in the African market, you need a holistic platform that addresses not only payments but also wider functionalities like identity verification and data analytics. African Payment Solutions provides an all-in-one solution that integrates payment orchestration, robust security, and customer insights.

By leveraging our platform, you can tailor your approach to diverse customer needs and make informed decisions that drive revenue.

Our commitment to a comprehensive approach ensures your success in the diverse and dynamic African eCommerce landscape.

Ready to elevate your eCommerce business with a holistic payment solution?

Contact us today to explore our comprehensive platform designed to drive success.

#eCommerce #Payments #Africa #FinTech #DigitalTransformation #PaymentOrchestration #DataAnalytics #BusinessGrowth

by Robin Philip Robin Philip No Comments

Why are Stablecoins gaining traction?

  • Stability: In countries facing currency devaluation, stablecoins provide a reliable store of value.
  • Global access: Stablecoins facilitate international trade and access to global markets, even for those outside of traditional banking systems.
  • Low transaction costs: Stablecoin transactions are typically cheaper than traditional bank transfers.
  • Faster settlements: Settlement times with stablecoins are usually faster, improving cash flow for businesses.
  • Cross-border simplicity: Stablecoins streamline cross-border transactions, making it easier for businesses to operate across African markets.

Benefits for eCommerce Merchants:

  • Reduced currency risk: Merchants can minimize exposure to currency fluctuations, making pricing and financial planning more predictable.
  • Wider customer reach: Stablecoins can help businesses reach customers who may not have access to traditional banking services.
  • Simplified payments: Accepting stablecoins can simplify cross-border payments, helping merchants operate more effectively in multiple African markets.

Contact us on info@africanpaymentsolutions.com if you want to move money more effectively via stablecoins

#stablecoins #ecommerce #Africa #payments #fintech #digitalcurrency #crossborderpayments #innovation #crypto

by Robin Philip Robin Philip No Comments

The Future is Now: Bridging the Gap Between Fiat and Crypto Payments

  • The payments landscape is evolving, with fiat and crypto converging.
  • Cross-border remittances are the perfect example for crypto’s utility.
  • As licensed PSPs, we are perfectly positioned to enable this money movement for merchants.
  • We understand the compliance and regulatory challenges
  • We provide you with solutions in both the fiat and crypto worlds.
  • Bringing fiat and crypto together for a smoother and more cost effective merchant and consumer experience

  • Tags: #Crypto #Cryptocurrency #Fiat #Fintech #Payments #CrossBorder #Remittances #PSPs #Regulation