Viratec, a Nigerian mobile technology services provider says its mobile point of sale (mPOS) platform has been certified by the Nigeria Inter-Bank Settlement System (NIBSS) for the Nigerian market.
Viratec is partnering with BBPOS, a global leader in mPOS technology, to enable millions of Nigerians to pay for goods and services by card payment in a simple, flexible and secure manner, using mobile devices such as smartphones and tablets connected to a mobile card reader via Bluetooth technology.
The certification covers the iSellup mPOS application and the WisePad card reader terminal, specifically designed for the Nigerian environment, the Nigerian technology company says.
Mrs Abiodun Joanne Scott, Managing Director of Viratec says that “the certification of the WisePad and iSellup solution in Nigeria means that hardworking Nigerian entrepreneurs can accept card payments with Viratec’s certified solution. With BBPOS’s global expertise in mobile payments and Viratec’s local knowledge of business practices, banks in Nigeria will be able to support merchants in processing card payments, providing value added services and accessing banking services at the touch of a button.”
According to Scott, “Nigerian banks and merchants expect high quality solutions, so Viratec are ambitiously helping to accelerate the expansion of card holders and card transactions in Nigeria. We are incredibly proud to be partnering with BBPOS.”
The independent certification of the mPOS solution by NIBSS is a gold standard recognition that the solution meets the highest Payment Card Industry and security standard. This will help meet Nigerian market demands in delivering optimal service provision and revenues for Nigerian stakeholders. “Card payments are currently not very prevalent in many countries worldwide, including Nigeria, due to the high cost, inflexibility and unreliable connectivity of fixed POS terminals.
”This initiative aims to increase access to financial services for entrepreneurs and consumers currently without bank accounts due to the ‘access anywhere’ nature of the solution, enabling services in rural areas”.
The Managing Director of Viratec says the cashless policy driven by the Central Bank of Nigeria, grows through traditional POS terminal use becomes common in large commercial outlets, it is equally important that micro ad small-sized businesses in the informal sector can also provide a similar platform for fast and efficient payment for goods and services to reach all segments of the market, from market stalls to shopping malls.
“Merchants can increase their revenues by up to three times compared to cash only merchants through being able to accept card payments, banks are able to generate more revenues with extra services; and governments appreciate the increased transparency and accountability in cash flow in the economy”, Mrs Scott adds.