iVeri Payment Technologies (iVeri), announces an investment into TouchPoint Payments. This investment will immediately allow iVeri to increase its market in physical card acceptance while TouchPoint will benefit from iVeri’s established market position. The management of TouchPoint will remain unchanged.

TouchPoint develops applications for terminals, and also provides for the ongoing support of payment terminals. The first effect of this investment will be the integration of Touchpoint’s products with iVeri’s Payment Gateway. “This investment will allow us to enhance the multi-channel offering we provide to our customers in that we can now offer the acquisition, development, deployment and support of their terminal base”, said Barry Coetzee, CEO, iVeri.

“Besides the traditional Point of Sale applications that accept credit and debit cards at merchants, we also have Branch applications which allows typical bank branch transactions to be performed in real time on a standard payment terminal”, says Quintin Stephen, CEO, TouchPoint.

The iVeri Payment Gateway is a continually evolving comprehensive payment acceptance solution. The TouchPoint Payments investment will result in further product specialisation being added to the offering. Existing and new customers will benefit from the additional features and functionality that will result.

TouchPoint Contact Information:
Telephone number: +27 (0)861 00 99 08
Email: Info@touchpointpayments.com

I&M Bank has been awarded an e-commerce Acquiring license from Visa International, thus becoming the first bank in this region to qualify to offer this service. Its payment service rides on an Internet payment portal from iVeri Payment Technologies , a leading provider of multi-channel e-payment solutions. This payment technology is aimed at offering Kenyan online retailers and e-commerce merchants a cost effective ePayment service to accept Visa card payments on-line for sale of their products and services through their website.

Newspaper clipping showing I&M Bank Executive Director Sarit Shah (left) and the CEO of iVeri Payments Technologies going through the website during the launch of the banks e-commerce platform launch January 20, 2010 at the Norfolk Fairmont Hotel.

Speaking to journalists during the official unveiling at a Nairobi hotel, I&M Bank Chief Executive Officer, Arun Mathur, noted that I&M Bank has long demonstrated its commitment to customer care and service excellence, adding that the bank has a reputation for harnessing technology to improve its services to customers as well as to contribute to its bottom line.

“We congratulate I&M Bank Limited for being the first to make e-commerce available in Kenya and East Africa. We believe this initiative will greatly contribute to modernising payments and will bring economic benefits to Kenya through improved local and international commerce,” said Victor Ndlovu, Visa’s Country Manager for Kenya.

“iVeri is delighted to be the E-Commerce technology partner for I & M Bank, Kenya,” said Barry Coetzee, Chief Executive Officer of iVeri. “With iVeri’s Payment Gateway I&M Bank can address the processing needs for its e-payment operation on a certified PCI DSS™ platform (an international data protection standard mandated for Visa transactions) that delivers a secure, reliable and scalable transaction infrastructure.”

Mr Sarit Shah, Executive Director of I&M Bank, further adds: “In line with the vision 2030 of transforming national development, E-Commerce will empower more Kenyans and especially the youth by creating job opportunities, promoting cross border trade and increasing our country’s foreign exchange reserves. I&M Bank is therefore delighted to take the lead in providing Kenya with the ability to join the world of E-Commerce. This marks a significant move ahead in providing modern and convenient services to our customers.”

iVeri Payment Technologies (iVeri), one of Africa’s leading providers of payment gateway and mobile banking systems, announced today that it has validated compliance with the Payment Card Industry Data Security Standard (PCI DSS). Trustwave, the leading provider of on-demand data security and payment card industry compliance management solutions to businesses and organizations throughout the world, performed the PCI DSS compliance validation.

PCI DSS is the payment card industry security requirement for entities that process, transmit and/or store cardholder data, and has been endorsed by all the major card brands – Visa Inc., MasterCard Worldwide, Discover Network, American Express and JCB.

“This new status demonstrates iVeri’s commitment to enhancing the services we provide for our customers and our commitment to payment card data protection and security,” said Barry Coetzee, CEO, iVeri. “iVeri is a leader in its field and this achievement adds strength to our vision of becoming the most trusted and respected provider of payment acceptance and mobile banking solutions.”

Raymond Simpson, Managing Information Security Consultant & Brooks Wallace, Managing Director, EMEA of Trustwave hand the PCI DSS certificate to Roland Elferink, Development Director at iVeri.

The process of compliance has taken a year to complete with a dedicated team at iVeri working through all the steps required to achieve the final requirements. To validate compliance with the PCI DSS, iVeri had to demonstrate compliance with 12 security requirements by thoroughly reviewing its IT environment and information security policies and procedures. To maintain their compliance, iVeri has enrolled in Trustwave’s on-demand compliance management solution, TrustKeeper® to have the necessary tools to support on-going compliance such as quarterly network vulnerability scans.

“It has taken a significant investment and a huge amount of effort from everyone at iVeri to ensure we achieved each part of the required process. Changing the processes and the way people work has been the most challenging aspect of the project, but now we’re a more secure organization channelling that benefit to our customers,” explained Roland Elferink, Development Director at iVeri.

“In working with iVeri, we’ve seen that the team understands the importance of making PCI DSS compliance a part of everyday business operations,” says Robert J. McCullen, chairman and CEO of Trustwave. “It’s clear they place the utmost priority on protecting their customer’s payment card information and understand it is ongoing vigilance beyond compliance validation that will help keep their organization secure.”

(Sandton, South Africa & Addis Ababa, Ethiopia – 21 April 2009) – iVeri Payment Technologies, a leading provider of multi-channel e-payment solutions, has licensed its Payment Gateway and MiCard™ e-payment processing solution to Dashen Bank SC, a private commercial bank in Ethiopia. iVeri’s Payment Gateway will help Dashen Bank to become the first bank in Ethiopia to acquire mCommerce, eCommerce and Mobile merchant transactions. The bank has also chosen iVeri’s MiCard™ software which for the first time will enable Dashen Bank account holders to interact with the bank via SMS.

Dashen Bank will deploy the iVeri Payment Gateway software to all their Merchants to process Virtual and Point of Sale transactions. This project will be carried out with the assistance of SS Communications Plc, iVeri’s partner in Ethiopia.

Dashen Bank is one of the first banks in Ethiopia to be appointed as a principal member of Visa and MasterCard. The bank’s decision to select iVeri’s technology is part of the next phase of meeting the need for a scalable solution to meet aggressive transaction growth objectives, support for multiple delivery channels and devices, and the ability to offer modern and world-class card payment services to cardholders in Ethiopia.

Ato Lulseged Teferi, President of Dashen Bank & Barry Coetzee, CEO of iVeri signing the agreement in Addis Ababa, Ethiopia.

“We have a reputation for harnessing the advanced capabilities of IT to improve our service to customers and contribute to the bottom line,” said Ato Lulseged Teferi, president of Dashen Bank. “Our decision to invest in iVeri technology is another example of this. iVeri is Africa’s market leader in card acceptance software, and its multi-channel Payment Gateway meets our requirements to enhance our service offerings.”

iVeri’s technology will initially support Point of Sale terminals acceptance and introduce MiCard™ for cardholder interaction at Dashen Bank. Once these channels are established the Internet and mobile channels will be deployed. With iVeri’s MiCard™, Dashen Bank will now be able to allow their cardholders and account holders to top up their airtime, get an account balance and transfer value to another card, all using their mobile phone.

“iVeri’s experience and tailor-made solutions can help banks deliver new and enhanced customer service while giving increased return on investment,” said Barry Coetzee, Chief Executive Officer of iVeri. “With iVeri’s technology in place, Dashen Bank can address a wide range of processing needs for its e-payment operation, including mobile payments and e-commerce, all on a certified PCI DSS™ platform (an international data protection standard mandated for Visa and MasterCard transactions) that delivers a secure, reliable and scalable transaction infrastructure.”

“We are delighted to take the lead in providing Ethiopian cardholders with the convenience of interacting with their accounts via SMS,” added Ato Lulseged Teferi. “This marks a significant move ahead in providing useful and time saving services to our customers.”

But alas, your credit card number is required to secure the booking – and this you don’t have.

In the old days this would have resulted in you curling up into a foetal position and sinking into a depression.

But not anymore, because on Tuesday Nedbank launched Npay, an online debit card payment solution that is a world first.

The technology uses the trusted swiping machine that is used by retail stores making it impossible for online phishers to get hold of your information.

The machine is installed into a PC to enable communication between the two and when you are online, the computer picks up that you have Npay
technology which then pops up on screen as a payment option.

You select and receive your proof of payment online and, after printing your onscreen verification, you can start packing your bags and getting ready for your much-needed holiday.

But this technology won’t make life easier only when booking flights, you can also use it to buy airtime and prepaid electricity, and it will aid local ecommerce.

So far, players that have come on board include Mango airlines, IT communications chain 3@1 and Nedbank.

Almost half of the adult South African population has bank debit cards – which now come standard when one opens a bank account.

Juxtapose this against less than 15% of the banked who have credit cards and you can immediately grasp the revolution at hand.

South Africans haven’t widely embraced online buying. It is seen as risky because transactions are completed by sending sensitive information into the virtual world. Npay bypasses all that and if you ensure that nobody sees the PIN number you punch in, then you should be safe from online thieves.

The only question that remains is: why did it take so long to come up with something like this?

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This means that an estimated 23 million debit cardholders in the country will now enjoy the convenience and safety of online shopping, which has until now been restricted to credit and cheque cards.

This initiative, called Npay, has also added a whole new dimension to industry efforts to help all South Africans keep stride with global trends. It brings internet purchasing to a sector of the population who previously had limited access to the internet, now made accessible via outlets such as 3@1 Business Centres, and will boost the debit card proposition and drive growth in debit card purchases.

“Nedbank is continuing in its effort to create innovative vehicles to provide access to banking and for more South Africans to shop safely and conveniently. It’s a world first, too: Internet shopping using a PIN-secured Electron or Maestro debit card,” says Nedbank’s Pamela White ” Head: Corporate Card Services.

Npay uses a point of sale (POS) terminal, through which cardholders swipe their PIN-secured Electron or Maestro debit cards when making payments at a network of Internet enabled sites such as 3@1.

Owing to the onerous technology and security required for accepting debit card transactions online, it has, to date, been impossible for debit cardholders to make internet purchases.  Npay combines the necessary tools for online shopping, thereby providing a safe and easy solution for debit cardholders who often in the past had to revert to cash or had to travel long distances to a bank branch or service provider to make payment.

Many merchants, including low cost airlines, make significant use of a virtual online retail presence to sell their products. This meant that customers required a credit or cheque card to purchase their products online. Npay will now make these online products accessible to debit cardholders, while empowering businesses who operate in the virtual world to accept a wider variety of payments and accessing a larger customer base.

Nedbank has entered into a number of strategic partnerships which will broaden the acceptance of this payment option. These include low-cost airline, Mango, the country’s four cellular network providers, web-based event tickets and municipalities to deliver essential payment for services at the click of a mouse.

“Nedbank embarked on this development as part of our efforts to provide an alternate to cash and a means of accessing alternate technology for all South Africans – many of whom only having access to a debit card,” says White.

Through Npay, debit cardholders, irrespective of whom they bank with, will for the first time be able to purchase airline tickets, prepaid airtime, prepaid electricity, and concert or match tickets and pay traffic fines online. In time, more products and services will become available.

Using Npay

Npay is about convenience. Paying this way saves travel, time and queuing, and means you don’t have to carry cash – making it safe and convenient. Experienced 3@1 franchisees will assist with any query when customers need help in processing their transactions.

Because the cardholder physically swipes their card and enters their secret PIN, chances of unauthorised purchases are minimal, as long the PIN is kept secret.

Wherever clients see the Npay sign, there will be a computer terminal with a card reader.  Initially, Npay terminals will be launched at popular Internet business centres ” the 3@1 Business Centre chain being the most prominent of them ” but in the very near future, it is anticipated that South African debit cardholders will be able to use this payment channel via a host of other publicly accessible Internet locations.