By Omobayo Azeez
E-payment player, Euro Payment Group (EPG) has introduced new payment solutions for emerging markets across Africa.
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According to the company in a statement, this became possible after EPG secured global partnerships that also allow repatriation or settlement to a European bank account of funds processed in South Africa, Nigeria, Kenya, Uganda, Rwanda and Ghana.
According to Tony Joeglal, vice president of Global Business Development & Marketing at EPG, working with leading local partners is fundamental for us to facilitate domestic payment processing including fund repatriation whilst expanding with largely European oriented merchants into the African market
He said: “Subsequently the business has developed a list of new payment methods for the six African countries, beginning with South Africa where consumers can redeem Discovery Miles–a’ niche’ loyalty fee to help the core bank card (Visa, Mastercard and Amex) and Instant Bank Transfer (Ozow –previously known as I systems.”
He said next on the list is Kenya, where major operators have suspended their digital payment processing networks this summer as part of a tax dispute with the income collection agency of the country.
“In addition to mobile-focused money transfer services mPesa, Equitel and Airtel, consumers can use the same core card payments,” Joeglal added.
“Meanwhile, Uganda – a country with similar turbulent sports betting times since President Yoweri Museveni put a ban on issuing new licences in February – is one of three countries where EPG customers are offering payment types for Airtel, Tigo Cash, MTN Mobile Money and Vodafone. The same four methods can be enjoyed by those in Rwanda and Ghana,” the statement read.
It further explained that by incorporating the account number-based solution developed by Nigeria’s inter-bank settlement system (NIBSS), EPG will combine bank card transactions (Visa, Mastercard and Verve) in Nigeria.
According to the company, the NIBSS Instant Payments (NIP) system has expanded to include all commercial banks, micro-finance banks (MFBs), and Mobile Money Operators (MMOs), beginning with just two commercial banks in 2011.
Frontpage November 2, 2017