Available in Nigeria, Kenya, Uganda, Niger, DRC, Mali, Tanzania, South Africa, Algeria, Egypt, Jordan, Morocco, Turkey, UAE, TrustPay is set to launch in Ghana in a move to offer a broad range of eCommerce and MCommerce payment options for merchants.
The Port Louis, Mauritius headquarted firm, with one of its main centres based in Cape Town, South Africa, TrustPay wants to enable developers and merchants from other markets to directly collect payments from a variety of sources in emerging markets.
The firm recently launched its unique range of innovative m/e Commerce merchant solutions in a move to accelerate economic growth in developing markets. TrustPay will give merchants the ability to give consumers the option to pay for their utilities via a payment method of their choice.
According to Cape Town based, Sean Condé, co-Founder, TrustPay: “We have worked across Africa for a number of years and witnessed the growth of different types of cashless payment systems. We realised there was a need for a common-denominator platform that could provide a simple but effective exchange between all the parties for trade and settlement. TrustPay is the culmination of several years of investigation, negotiation and technological development that has been rigorously tested and that will now facilitate international commerce even in remote areas.”
Playingin both the mobile money, cross-border, cashless payment sector, TrustPay is designed specifically with merchants in mind as a versatile, interoperable, international merchant services mechanism that facilitates trade, especially in emerging markets by connecting merchants and consumers to one another through one cohesive platform.
The firm says it brings together exotic or non-traditional payment platform such as mobile money (eg M-Pesa in Kenya), street cash vouchers (eg 484 in Nigeria) or even highly localised payment systems like Boleto in Brazil to one system that can manage compliance, settle collections and connect these merchants to local payment sources.
Using a single ‘Application Programme Interface’ (API) – mobile money, vouchers, bank cards, carrier billing and of course credit cards, and more – the unique interface integrates into pretty much any payment system. The simplicity of this is that a merchant can now easily accept payment from any type of customer, (consumer or business), who can choose a variety of local payment methods in which to settle the transaction. It further enables small and large organisations access to a multitude of payment types without the need for costly individual set-up and maintenance costs.
TrustPay aims to help merchants to transact and grow their businesses beyond urban city centres and go beyond borders. TrustPay manages settlement, multiple rules and regulations regarding VAT, withholding taxes, bank regulations and settlement procedures, currency risk and dispute mechanisms with their payment partners.
