iVeri Integrates Halo Dot, Driving Innovation in the Mobile Point of Sale

iVeri has announced that it has completed integration with software and consulting company Synthesis Software Technologies to increase the opportunities available to businesses using software-based Point of Sale (SoftPOS) across Africa and the Middle East.

Synthesis became the first Tap on Phone solution provider in Africa when it launched Halo Dot with Nedbank in June 2020. This launch was facilitated by iVeri integrating the solution into its MPress mobile app, with payment processing through the iVeri Gateway. MPress with Halo Dot has been approved and certified by major card brands for Tap on Phone.

iVeri integrates Halo Dot, driving innovation in the mobile point of sale

iVeri announces today that it has completed integration with software and consulting company Synthesis Software Technologies to increase the opportunities available to businesses using software-based Point of Sale (SoftPOS) across Africa and the Middle East.

Synthesis became the first Tap on Phone solution provider in Africa when it launched Halo Dot with Nedbank in June 2020. This launch was facilitated by iVeri integrating the solution into its MPress mobile app, with payment processing through the iVeri Gateway. MPress with Halo Dot has been approved and certified by major card brands for Tap on Phone.

iVeri & Nedbank’s ‘Tap-on-phone’ – a first in Africa – empowers SMMEs with safe and secure contactless payments

At the height of the global Covid-19 pandemic, Nedbank became the first bank to offer small, medium and micro enterprises (SMMEs) the ability to turn their cellphones into a payment acceptance device with the launch of its Tap-on-phone functionality in October 2020.

Following a successful closed pilot in June, the easily downloadable app has empowered a number of merchants and business owners with the ability to accept card payments on their cellphones without having to purchase point-of-sale (POS) devices. Merchants include beauty parlours, hairdressers and car washes, proving the importance of such a solution for small to medium sized enterprises in South Africa.

iVeri, Nedbank and Synthesis new ‘tap on phone’ – a first in Africa – enables safe and secure contactless payments

30 June 2020 – Nedbank has unveiled its new tap-on-phone functionality that allows all merchants and business owners to convert their mobile phones into payment acceptance devices.

Tap on phone makes it easier for small- and medium-sized businesses to use their compatible smartphones to accept quick, easy, and secure, payments from their customers for goods or services. Due to the Covid-19 pandemic facing the world we have all been sensitised to the need for social distancing, which has impacted all areas of our lives, including how we transact on a day-to-day basis. The tap-on-phone functionality enables contactless payment acceptance and there’s no health risk to the merchant or customer.

Visa Token Service to Add 28 New Partners to Strengthen Digital Payment Security Globally

The new partners will help Visa protect millions of additional digital payments from fraudsters and reduce friction for merchants and consumers

SAN FRANCISCO, CA – May 13, 2020 —Visa Inc. (NYSE:V) today announced that 28 new partners will be joining Visa Token Service as credential-on-file (COF) token requestors. These new partners will help make digital transactions more secure by tokenizing both one-time and recurring payments made with Visa credentials. Tokenization replaces a cardholder’s 16-digit Visa account number with a token that only Visa can unlock, protecting the underlying card number from fraudsters.

New partners joining Visa Token Service include acquirer gateway and technology partners Assist, Aurus, BlueSnap, Braspag, Bambora, DPO PayGate, eComCharge, Fat Zebra, eGHL, Infinitium, iPay88, Iveri, LiqPay/PrivatBank, Mail.ru, Moneris, One Inc., Omise, Payture, Payvision, Portmone, RBK.Money, Spreedly, Tickets Travel Network EESTI, Tranzzo, WalletDoc, WayForPay, Windcave, and Yandex.Money. Once certified, these 28 partners will be able to tokenize credential-on-file digital payments on behalf of their merchant and payment clients for an additional level of security.

In addition to enhancing security, tokenization also helps reduce friction in the payment process, because customers do not have to manually update stored card information if their Visa card is lost, stolen or expires. Instead, financial institutions can automatically update expired or compromised payment credentials. This can reduce missed payments for merchants, and help consumers avoid unwanted late payment fees or charges.

More than two-thirds (69%) of US consumers choose to store a card-on-file or have recurring billing set up with merchants1. Increasingly, these merchants are choosing tokenization to make their customers’ online shopping and recurring digital payments less susceptible to fraud, with Visa adding more than 150 token requestor partners to Visa Token Service in the last five years.

“Consumers are shifting more rapidly than ever to digital-first commerce, no matter what they’re buying, and tokenization is one of the most effective tools Visa uses to fight fraud and improve the digital payment experience,” said Ansar Ansari, senior vice president, digital payment products, Visa. “We’ve seen a fraud reduction rate of 26% for digital transactions processed through Visa Token Service compared to traditional online card transactions2. That’s impressive, and these new partners will only add to the momentum.”

The expansion of Visa Token Service comes as the service has achieved rapid growth for its credential-on-file (COF) tokenization efforts, with more merchants and retailers moving to adopt the secure technology. Since the launch of the Visa Token Service in 2014, Visa has added more than 150 global token requestors—including mobile and wearable manufactures, issuer wallets, online merchants, payment service providers and acquirers—from 137 markets onto the token platform. Visa recently announced participants in Visa Token Service (VTS) are estimated to process a combined digital payment volume of $1 trillion3, marking a significant opportunity in its efforts to make digital payments more secure.

The addition of these new acquirer gateways and token requestors will bring additional scale globally and support Visa’s commitment to security and convenience of online and mobile payments from both traditional eCommerce as well as credential-on-file transactions.

Comments from Partners:
“Assist Belarus is interested in providing its customers with the best services in the field of Internet acquiring,” said Vyacheslav Senin, Director, Assist Belarus. “We’re proud to be partnering with Visa, leveraging Visa Token Service in order to provide a new level of protection for digital payments. The technology will help protect transactions by replacing confidential payment information with a unique digital token.”

“Aurus has been working with Visa to introduce features and products to Aurus Merchants and consumers that help shoppers enjoy simple and secure checkouts along with enhanced security,” said Rahul Mutha, Founder and CEO of Aurus. “Visa Token Service is one such feature that helps merchants protect the underlying sensitive payment information, thereby leveraging the AurusPay unified commerce that provides these powerful touchpoints for a merchant to transact with their consumer.”

“Visa Token Service addresses three key needs of ecommerce merchants: increased payment conversions, greater security and reducing friction from the card user experience,” said Ralph Dangelmaier, CEO, BlueSnap. “We are excited that it will now be part of BlueSnap’s All-in-One Payment Platform.”

“Bambora is pleased to partner with Visa to help bring the Visa Token Service to market for businesses and consumers,” said Anne McDonnell, APAC Managing Director, Bambora. “As consumers, many of us have experienced the challenge of updating card details in multiple platforms when a card becomes lost or expired. This latest innovation by Visa will help Bambora merchants increase authorization rates, while providing consumers with a more seamless and secure customer experience – it’s a win-win.”

“We at Braspag believe that security is a key element in the payment experience,” said Rogério Signorin, General Manager, Braspag. “Combining security, convenience and simplicity with innovation is part of our mission and tokenization helps to deliver these to the e-commerce market. There are still many opportunities to expand digital business in Brazil and around the world and Braspag will certainly continue to contribute to the growth of this sector.”

“We are excited to join the Visa Token Service program as a Token Requestor – Token Service Provider,” said Alexander Mihailovski, CBDO, eComeCharge LLC. “Participating in the program will allow us to make payment acceptance in e-commerce more convenient, fast and secure for all participants of the transaction. We are pleased to become a Visa partner.”

“Since day one, Fat Zebra has been about building a payments ecosystem with partners who can accelerate our customers’ ambitions. We’ve always been committed to protecting every dollar our merchants process with us by offering world-class fraud solutions and tokenization products,” Said Pred Dragila, CEO, Fat Zebra. “Continuing to deepen our partnership with Visa gives us even more confidence in our merchants’ ability to deliver a great customer experience – all over the world. Fat Zebra merchants who use our implementation of the Visa Token Service can start protecting their customers’ data right away. The speed and accuracy is a huge deal for our merchants.”

“With increasing use of mobile smart devices and mobile commerce, new payment technologies are streamlining payment processes to deliver the best customer experiences that are seamless, simplified and secured,” said Danny Leong, Group CEO, eGHL. “GHL is honored to partner with Visa on VTS adoption in Southeast Asia, helping to transform the banking and e-commerce landscape in the region. Once online, over 2000 eGHL merchants from various industries will benefit from the technology.”

“Infinitium is pleased to act as a Visa Token Requester-Token Service Provider.” said Ho Ching Wee, Founder and Group Chief Executive Officer, Infinitium. “This partnership with Visa allows Infinitium to support Visa VTS as well as enhance our various payment systems for acquirers and merchants. Infinitium is committed to powering digital payment convergence and driving impact to the world with more secure and seamless services.”

“Securing transactions between our merchants and online shoppers has always been our top priority,” said Mr. Lim Kok Hing, Co-Founder and CEO of iPay88. “iPay88 is proud to be a partner of Visa Token Service and work together in ensuring a more secure, optimized and seamless payment experience for our customers. We believe in digitalization and are responsible for providing a secure and optimized payment ecosystem to our merchants.”
“Assisting merchants to achieve the best possible security is always a priority at iVeri,” said Barry Coetzee, CEO, Iveri Payment Technology. “So leveraging Visa Token Service to provide an end-to-end tokenized transaction was an easy decision for us.”

“Keeping cardholder data secure while ensuring our merchants have peace of mind when using Moneris Vault for card-on-file requirements has always been our priority,” said Patrick Diab, Chief Product Officer at Moneris Solutions Corporation. “Visa Token Service increases the layers of security within Moneris Vault. The ability to request a token from Visa and then provide that within a Moneris, allows merchants to benefit from the combined security and value added services offered by Moneris and Visa.”

“We are excited to offer the Visa Token Services to Omise merchants across Southeast Asia in the future,” said Anuchit Chitpirom, Chief Operating Officer, Omise. “This move reinforces our commitment towards consumer and merchant protection, as well our ability to provide a better, more seamless consumer shopping experience. Dynamic updates of credentials when a card is lost, stolen or expired helps ensure uninterrupted service for end consumers and improved authorization rates for our merchants.”

“One Inc. is excited to support and offer Visa Token Service to our customers in the insurance industry,” said Avin Arumugam, Chief Product Officer, One Inc. “For insurance companies, payments are the primary touchpoint in the policyholder’s journey, either creating tremendous loyalty to a brand or negatively impacting retention. By collaborating with Visa, we’re enabling our customers to be confident in both the highest level of security and a modern, frictionless payments experience.”

“Online payments have become an indispensable tool for businesses and it is very important to make them as accessible and secure as possible, both for buyers and sellers. At Payture, we are confident that tokenization will continue to be an integral part of the digital payment experience,” said Anna Salomatova, Chief Commercial Officer, Payture. “We are pleased to become a part of the global industry transformation process and are excited to be one of the IPSPs implementing Visa Token Service in Russia. We believe that this is a big step for the entire eCommerce community in Russia and the CIS, and will make online payments more convenient and secure for all market players.”

“By adding Visa’s network tokens, Payvision enhances its existent tokenization solution with an additional layer of security for effective fraud prevention,” said John Snoek, Chief Product Officer, Payvision. “Through VTS we enable a no-effort option for our merchants to provide more secure and seamless payments and a simplified shopping experience. E-commerce and in-app channels, especially for ‘Card-on-file’ transactions, will see a higher authorization rate and improved conversions.”

“Portmone.com is excited to support Visa Token Service and offer it to merchants, users and bank-partners in Ukraine and other markets across the CIS SEE region,” said Sviatoslav Komakha, CEO, portmone.com. “Regular high-frequency payments in two clicks is the core of our business model and VTS fits perfectly here with an improved card on file experience, better security and higher conversion rates.”

“Privatbank is proud to launch card-not-present tokenization that focuses on two important pillars: user experience improvement and security level increase,” said Sergiy Kharitich, Chief Digital Officer, Privatbank. “Our company is sure that this technology will help to develop eCommerce faster and will have significant positive impact on consumers and all eCommerce industry players.”

“RBK.money aims to provide only the best solutions for the developing digital payments market,” said Denis Burlakov, CEO, RBK.Money. “Seamless approaches to financial services are a must nowadays, and we’re glad to join Visa Token Service to give Russian merchants new payment technology which can increase transaction approval rates, improve security and the overall customer experience.

“Spreedly is very pleased to join the Visa Token Service ecosystem,” said Justin Benson, CEO, Spreedly. “Our support will help accelerate the adoption of this valuable offering for merchants, enabling them to drive greater business flexibility, revenue and security through our payment orchestration services.”

“At Tickets Travel Network EESTI we have always regarded payment security and continuous improvement of the user experience as of paramount importance,” said Ihor Hrabovych, Management Board Member, Tickets Travel Network EESTI. “That is exactly why we’re leveraging Visa’s tokenization technology to increase information security.”

“Tranzzo is excited to support Visa Token Service. By combining Visa’s solution with our data protection tools, we’re enabling merchants to reap the benefits of tokenization,” said Yan Klochko, CEO Tranzzo LTD. “Our integration with VTS will bring merchants an extra level of security and enhanced customer experience, while making digital payments on their web platform even more convenient.”

“Walletdoc is excited to support and offer Visa Token Services to our business merchants,” said Dan Wagner, Joint CEO, walletdoc. “Through our partnership with Visa, Walletdoc aims provide merchants with improved authorization rates, automatic card expiry renewal and increased security with little, if any, additional work on their part.”

“As a popular PSP in Russia, Yandex.Checkout is proud to offer clients heightened security and reduced friction in the customer experience through our extended partnership with Visa,” said Yulia Gorelova, head of payment business at Yandex.Money (parent company for Yandex.Checkout). “As a token requestor in Russia, we expect to provide new opportunities for merchants in the region by reducing friction in payment processes and card credentials storage.”

About Visa Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.

iVeri direct UPI service goes live

iVeri direct UPI service goes live

iVeri Payment Technologies now has a direct integration to UnionPay Online Payment (UPOP). This integrated platform will allow customers to use UnionPay cards to make payments through online merchants. Currently in production at I&M Bank in Kenya, iVeri now makes this solution available to all customers.
This partnership with UnionPay will bring increased convenience to UnionPay cardholders transacting in Africa, especially through E-commerce merchants. The next phase in this partnership is the addition of POS and other forms of acquiring provided by UPI.

This collaboration between the partners will further ensure smooth online payment between China and Africa, offering stronger support for China-Africa trade and personnel exchanges.

iVeri has Acquiring Banks in 11 African and Middle Eastern countries that use its Gateway to provide their merchants with multi-channel card acceptance. This integration with UnionPay will enable iVeri to enhance the acceptance offering and provide further value to its customers.

In partnership with more than 2000 institutions worldwide, UnionPay International has enabled card acceptance in 174 countries and regions with issuance in 55 countries and regions. To date, more than 7.5 billion UnionPay cards are issued in 55 countries and regions, among which over 120 million are issued outside mainland China.

UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants adopting UnionPay payment service