Tuesday, August 9, 2022
Tuesday, August 9, 2022
Home Startups IroFit Wants to Power Card Payments for Both Offline & Online Merchants

IroFit Wants to Power Card Payments for Both Offline & Online Merchants

by Sam Wakoba
1 comment
canvasNigeria’s IroFit provides merchants with a solution that  allows  them  accept card payments here and now, even without an Internet connection.
Oginally founded in Finland in February 2014, IroFit has build a mobile card payment system to allows merchants accept card payments without an internet connection, good for Africa where Internet connection is poor or even absent. By allowing users the opportunity to use their ATM/credit/debit cards to buy offline, IroFit helps merchants increase business sales, retain and increase their customer base and as well engage their customers effieiciently.

Iron Fit Nigeria is was founded by Omoniyi A. Olawale, a medical doctor in the University of Ibadan and also Founder and Chairman of another growing Nigerian company, 360value limited. Omoniyi has raised over $900,000 in research and startup funding.

The second co-founder Olusegun Okedara, has an MSc in Web Intelligence and Service Engineering and an Oracle Certified Java SE6 Programmer with deep expertise and passion in back-end development, data management, and multiple coding languages.

He was a member of the KIT team (Germany) that built the solution that Pierre Auger Observatory (Argentina) researchers employ to remotely access and analyze massive amounts of cosmic ray data. He has worked on several projects involving handling of large data in a scalable framework. Segun is also an excellent cook.

The third co-founder Olusola Folorunso has a BSc in Information Technology from Finland and has a knack for integrating mobile into service design. She  is responsible  for mobile  development and location-based authentication. As a school project, she developed an indoor location sensing application based on magnetic fields that  allows  shoppers navigate within large shopping malls. This project was demonstrated to a big client of the university who owned mega shopping malls in Dubai- it received positive feedback and consideration to implement in the client’s malls.

Sola is also the cool-headed one on the team that keeps us in line, and the one with many surprising talents.

With such a solid team, Iron Fit’s patent-pending technology processes card transactions in REAL-TIME without an Internet connection using universally available basic GSM connectivity. The firm says its overall transaction success rates in areas with poor/no Internet connection increase from <50% to over 90%.
Secure Payment

“Our technology is secure, exceeding the most stringent global standards. The card reader device is EMV 1&2 certified for secure mobile payments. Card data is encrypted end-to-end, and the reader does NOT store your card data. Our proprietary fraud detection system ensures that card payment is safe for you,” says the firm.

“We consider ourselves partners with small business, helping them satisfy their customers and increase sales. When your customers are free to pay with their cards anywhere, anytime, they get an overall improved shopping experience and spend more,” according to the firm on its site. Iron Fit aims to encourage spontaneous, unplanned purchases up merchant’s sales and also provide  them with a suite of services to help them monitor, plan, and grow their business- such as sales tracking, integration with accounting platforms, and sales analytics.

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