Fintech firms Traderoot and Sureswipe have partnered to launch a platform brings high-end quick and simple reconciliation and transaction matching by transaction type at the end of each day, obviating recons on multiple card machines, separate POS systems, cash and vouchers etc.
According to Traderoot’s CEO, Eugene von Engelhardt, this innovative payment platform allows the SME, merchant, company, corporate or community owner to streamline systems to meet their specific business needs, while remaining completely compliant and incorporating all their partners of choice.
Traderoot’s platform facilitated the recent launch of Sureswipe’s integrated card-payment and POS solution, targeting not only the SME market, but also larger retailers and FMCG companies.
The payment transactions take place in real-time – 2 seconds – which means that there is no more customer queuing due to problematic networks or banks being offline, enhancing the customer experience and increasing turnover.
Traderoot was one of the earliest adopters of the Payment Application Data Security Standard (PA-DSS) program which is the global security standard created by the Payment Card Industry Security Standards Council (PCI SSC) and has enabled SureSwipe to expand into multiple regions and geographies.
“This payment platform is not only scalable, it is also future-proof because it seamlessly integrates new and emerging payment technologies such as Apple Pay, Samsung Pay, Tap and Go, Pay Later, tokens and loyalty vouchers,” he says.
The “Sureswipe’s deployment has opened up the market and simplified customer engagement resulting into an easier and completely transparent system. The platform addresses all merchants, financial institutions, and POS systems and removes friction points so customers can retain all current relationships,” he adds.
Founded in 2000, Traderoot enables banks, multiple vendors, merchants and retailers to talk to each other in a ubiquitous manner and deliver transactions quickly and securely to multiple platforms while Sureswipe is the first independent South African fintech company to bring card payment solutions to smaller businesses as far back as 2008.
Sureswipe’s MD Paul Kent the new platform is available to merchants and their partners in South Africa and in global markets.
“By adopting a ubiquitous platform, the banks become another supplier in the chain, and merchants can adopt a much more agile and customer-centric approach, driven by what the consumer wants while future-proofing their business to ensure that new technologies don’t derail operations, but can be easily adopted,” says Kent.