Sandton, South Africa – 5 October 2021 –
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.
Halo Dot provides the Tap on Phone technology used to accept contactless payments on any Android device with Near-Field Communication (NFC) including secure software-based PIN Entry on the same mobile device. This Tap on Phone + PIN capability is a true software equivalent to expensive hardware Point of Sale (POS) terminals. iVeri with Halo Dot will enable informal traders, SMEs, and micro enterprises to accept card payments anywhere, anytime and for any value, creating safer and more convenient alternatives to cash.
Pierre Aurel, Head of Payments at Synthesis stated: “Over the last year, the world has witnessed rapid growth and adoption of contactless payments. This has largely been underpinned by innovations related to mobile phones. Halo Dot is one of these innovations – it provides a novel way to accept card payments simply by tapping a payment card on a mobile phone. This technology empowers both informal and formal businesses to accept contactless payments directly on their mobile phone, increasing accessibility and reducing costs.”
Barry Coetzee, Chief Executive Officer at iVeri said: “MPress will open up a new market for our acquiring banks and merchants. Tap on Phone will reduce the cost of acquisition for smaller merchants, which are the majority of traders in our markets.”
With this solution, MPress will provide convenience and swift tap & go payment acceptance, enhancing the payment experience for merchants and consumers.
iVeri will offer MPress to all 19 countries where they operate, as well as new markets that have a need for iVeri’s innovative payment solutions.
Synthesis is a true South African success story. Synthesis believes that providing innovative solutions based on emerging technologies will help their clients become globally competitive. Synthesis focuses on banking and financial institutions, retail, media and telecommunications sectors in South Africa and other emerging markets.
In 2017 Capital Appreciation Limited, a JSE-listed Fintech company, acquired 100 percent of Synthesis. Following the acquisition, Synthesis remains an independent operating entity within the Capital Appreciation Group providing Cloud, Digital, Intelligent Data, MSP, Payments and RegTech services as well as corporate learning solutions through the Synthesis Academy.
For over 20 years iVeri has been providing African grown and internationally certified acceptance technology to acquirers and transaction processors. iVeri provides its customers in Africa and the Middle East with a complete multi-channel Payment Gateway. Having all channels available provides flexibility for acquirers in drive their acceptance business.