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CoralPay C’Gate Solution Is Africa’s Gold Standard For Payments

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CoralPay has deployed the first interoperable USSD and mobile payment platform to Nigerians desirous of a seamless and secure payment solution.  The solution, which fulfills the mantra of being Africa’s Gold Standard for payments, allows for enhanced interoperability amongst stakeholders in the payment ecosystem.

The solution, according to the CEO CoralPay Chioma Nkechika, allows customers using the USSD short codes of their respective banks alongside their Mobile Apps to pay for goods and services directly from their bank accounts and wallets. The transactions are accepted on POS terminals, and ATMs, with receipts printed or on eCommerce sites with emails sent to registered addresses.

The C’Gate solution, which is already being adopted and deployed by leading Nigerian banks and Mobile Money Operators (MMOs), seamlessly enables USSD to POS, USSD to Web, USSD Fast Transfer transactions, USSD on App, USSD to ATM, and CiCo (USSD Cash-In and USSD Cash-Out) on POS, offering customers more flexibilities and payment options than anything currently available in the Nigerian market.

Zenith Bank has led the adoption of the C’Gate solution as an addition to its e-payment offerings, with other banks like GTBank, UBA, Access Bank, FCMB, FirstBank, Fidelity Bank, Wema Bank, Keystone Bank, Sterling Bank, Providus Bank and others following suit at various levels of integration and deployment.

POS transactions have grown significantly, with total transaction count up (YoY) from 63.7million to 146.3million transactions, with corresponding value rising from N758.9 billion to N1.4 trillion as at the December 2016 and December 2017 respectively. This excludes web payments, ATM operations and mobile money transfers, all of which are now seamlessly integrated with the C’Gate Platform.

CoralPay Technology Limited, a payment switching and transaction processing company, earlier in the year announced its entry into the Nigerian payment industry with a solution, in partnership with Alipay International to ease online transactions for the Chinese, other Asian consumers and African merchants starting with Nigeria.

The partnership further expands Alipay’s footprint in Africa and opens the door for its more than 520 million active users in China, to make online payments via the CoralPay platform. Speaking on the agreement, the CEO of CoralPay assured Nigerians of the company’s ability and capacity to deliver on the African franchise, leveraging on their business network and partnerships.

On C’Gate, the CoralPay boss said that the solution was designed and developed locally, leveraging on the global experience and expertise of the company’s engineers, drawing on the declared mission to build ‘Africa’s Gold Standard’ for payment, encouraging financial institutions and SMEs grow capacity through financial inclusion and innovation. He further hinted that the C’Gate platform as deployed, is the first of several breakthrough solutions the company has in its pipeline, adding that they are well-primed to bring more innovative services into the Nigerian market.

On the advantages of C’Gate, the CEO, said customers are now liberated from their cards and can now transact on POS, Web and ATM-like transaction without their payment cards, while confirmation is received via printed receipt at the point of interaction or email. Customers can carry out these transactions remotely or while physically present with the merchant.

With the inclusion of key billers and agency banking on the C’Gate platform, customers are also able to carry out bill payments and CiCo (cash-in/ cash-out) at agent locations. Additionally, he said the C’Gate ensures safer, faster and easier transactions for the customer, as card details are not required, and not dependent on Internet access. No new deployment costs are incurred as all transactions occur using the existing infrastructure of both customers and banks.

 

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CRITAC: A Must Know Scientific Research Center In Africa Founded By This Young African Ghanaian Scientist, Dr. Kester Quist Aphetsi

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The Center for Research, Information, Technology and Advanced Computing (CRITAC) founded by the Young African Ghanaian Scientist, Dr. Kester Quist Aphetsi. RANK 1st as Clarivate Analytics Ghana for its good scientific research.

Over the years, CRITAC has been providing webinars, workshops, seminars and tech-news. We feature distinguished speakers from professional bodies, academia and industry on our programs.

Their research laboratories are led by top research scientists, industrial experts and research students with research laboratories in different domains necessary for the execution of the projects we undertake.

Reports and works from CRITACare published on reputable publishers such as ACM, IEEE, Springer, Elsevier, Taylors and Francis, Emerald etc with indexing at Thompson Reuters and Scopus. Access our current research works and reports

Engaging CRITAC means engaging some of the best minds with the expertise of providing timely solutions to problems leveraging on innovation and ingenuity in delivering results

Also Read TeamApt Secures Switching License From CBN To Power Payment Infrastructure Solution, AptPay

Our Research and Development programs are revolutionary breakthroughs in areas such as cyber security, big data, artificial intelligence, embedded systems, networked systems and software, and the application of such technologies to diverse fields in business, science, engineering, education, government, etc. All you need to Know.

Amongst the countless Scientific Research Conference organised by CRITAC is the recent ended 2019 ICSIoT Conference at the Ghana Technology University that gathers students, professionals, Researchers, Scientists, Security Organisations, Military Personnel’s, Police and the likes.

http://critacghana.com/critac/

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Egypt hosts ‘Seamless North Africa 2019’ to discuss latest trends in Financial Technology

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CAIRO – June 2019: For the second consecutive year, Central Bank of Egypt will host on the 17th and 18th June 2019, the FinTech Conference “Seamless North Africa 2019”, under the auspices of H.E the Prime Minister, Dr. Mostafa Madbouly, and with the participation of the most renowned international and local experts in the field of financial technology, e-payments and e-commerce.

The conference is held in collaboration with the Council of Arab Economic Unity and the League of Arab States, and is co-organized by the Egyptian Banking Institute (EBI).

Partakers will represent influencing and well recognized entities, institutions, banks and international companies, that cover multiple sectors of banking, finance and e-commerce, aiming to discuss and evaluate the role played by new technologies and strategies to cater for improved services to citizens and consumers across the Arab world.

Ms. Lobna Helal, Deputy Governor of the Central Bank of Egypt, affirmed that “hosting the conference for the second year in a row reflects the tremendous success achieved by SEAMLESS 2018 in its first edition, emphasizing that “The Central Bank of Egypt’s hosting of the Conference stems from the premise of its pioneering role to communicate with society and address the challenges facing the expansion of innovative financial products and services. The role played by the Central Bank is no longer limited to the regulatory and organizational aspects, but has extended to support and incentivize the society to be less cash dependent and to sustain the transition towards financial inclusion, Under the umbrella of the National Payments Council, which is privileged with the chairmanship of President Abdel Fattah al-Sisi. ”

Eng. Ayman Hussein, Sub-Governor of the Central Bank for the Payment Systems and Information Technology Sector, has stated that “The conference has attained escalating importance derived from the leading role played by FinTech in providing, efficient, effective and affordable financial and banking services to meet the diverse timely and logistical needs of customers, thus creating an enabling environment and improving accessibility to the general public, appointing financial technology as a key pillar of financial inclusion and a fundamental supporter of economic growth, accordingly, achieving benefits on the individual and state levels”.

The conference will discuss the challenges that face Egypt’s emerging FinTech eco-system, in the areas of microfinance, microcredit, cross-border payments, remittances, data analysis, artificial intelligence for retail banking, cybersecurity and the SME credit score.

He also mentioned that the conference supports innovation in FinTech, whereas it will feature a pitch off competition for Fintech startups, whereas candidates will compete for a grant of USD 50,000 in cash awarded by an international sponsoring company. Competitors will present their new business model or innovative Fintech solution in front of a panel, composed of leading Egyptian and international experts.

Dr. Rasha Negm, General manager Fintech & innovation has added that “The conference will incorporate several panel discussions, interviews, presentations and workshops revolving around the latest trends and innovations in financial technology. An exhibition of more than 50 leading technology and innovative solution providers will be held on the sidelines of the conference, which avails an opportunity to learn about the latest innovations in the Fintech field”.

– EGYPT TODAY

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IBM expands its Quantum Computing Program to Africa with Wits University

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DURBAN – IBM has launched the expansion of its quantum computing efforts to Africa in a new collaboration with the University of the Witwatersrand (Wits University) in South Africa.

Wits University is the first African partner on the IBM Q Network and will be the gateway for academics across South Africa and to the 15 universities who are part of the African Research Universities Alliance (ARUA).

“This is the latest outcome of the joint partnership between IBM Research and Wits, which started in 2016 when IBM opened its second lab in Africa in Wits University’s Tshimologong Digital Innovation Precinct in Johannesburg. To expand the IBM Q Network to include Wits will drive innovation in frontier-technologies and benefit African-based researchers, academics and students who now have access to decades of quantum computing capabilities at the click of a button,” said Professor Zeblon Vilakazi, Wits Deputy Vice-Chancellor: Research and Postgraduate Affairs.

Quantum computing promises to be able to solve certain problems – such as chemical simulations and types of optimization – that will forever be beyond the practical reach of classical machines. IBM first made quantum computers available to the public in May 2016 through its IBM Q Experience quantum cloud service and has doubled the power of its quantum computers annually since 2017.

IBM established the IBM Q Network™, a community of Fortune 500 companies, startups, academic institutions and research labs working with IBM to advance quantum computing and explore practical applications for business and science.

Researchers at Wits will investigate the use of quantum computing and machine learning in the fields of cosmology and molecular biology with a specific focus on HIV drug discovery. The teams will also jointly study quantum teleportation, a field pioneered by IBM Fellow Charles Bennett.

“For Africa to remain competitive for the coming decades we must get the next generation of students quantum ready,” said Dr. Solomon Assefa, Vice President, Emerging Market Solutions and Director, IBM Research – Africa.

As part of the partnership between IBM and Wits, scholars from sixteen ARUA universities will have the opportunity to apply for access to IBM Q’s most-advanced quantum computing systems and software for teaching quantum information science and exploring early applications.

To gain access to the IBM Q quantum cloud service, ARUA scholars will be required to submit quality research proposals to a scientific committee of Wits and IBM experts for approval.

“Having access to IBM Q is pivotal for Wits University’s cross-disciplinary research program and allows our researchers in quantum computing, artificial intelligence, and in the broad natural sciences, including in laser technology, quantum optics and molecular design, to leverage the next level of discovery research. It’s envisioned that the first results from this collaboration will be forthcoming in the next two years,” said Vilakazi.

IBM’s recently unveiled IBM Q System One, is the world’s first integrated universal approximate quantum computing system designed for scientific and commercial use.

Also Read TeamApt Secures Switching License From CBN To Power Payment Infrastructure Solution, AptPay

IBM’s most advanced universal quantum computing systems available through the IBM Q Experience platform. More than 10 million experiments have run on the IBM Q Experience and users have published over 160 third-party research papers. Also, developers can work with  Qiskit, a full-stack, open-source quantum software development kit, to create and run quantum computing programs.

To further increase skills development, IBM Q is hosting an invite-only Qiskit Camp in South Africa this December for 200 quantum researchers and computer scientists where they will learn in an immersive environment and receive hands-on training.

The agreement with Wits was signed in April 2019.

BUSINESS REPORT ONLINE

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