Connect with us

Technology

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

Published

on

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.

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Logistics

Digitalization in logistics – A user’s experience

Published

on

Geraldine Mamburu, Founder & MD PDQ Logistics (Source: Geraldine Mamburu)

In some cultures, children are sometimes named after events that would have taken place close to or during their birth.  Jokes around naming children Quarantine Buthelezi, Social-distance Moyo, or Pandemic Ndlovu, were circulating in 2020 and made for a good laugh, however, one couple in India took this a little too seriously and named their twin boy and girl, Corona and Covid.

Looking back, I do not recall ever coming across a proposal to name children after any of the variations around the word digital, after all, every second Point of View that was being released was around digitalization and digital transformation. It got me thinking, and realised that a lot of these terminologies are thrown about in the corporate space, but what does this actually mean to the end-user? How does the user interact, make use of, and appreciate digitalization?

Being in the logistics space has found me interacting with a lot more digital platforms over and above e-commerce, social media, and the all-so-dreaded-virtual-meeting platforms. My favourite most convenient app (which is currently the best thing ever since sliced bread in my books) has got to be Truck Fuel Net (TFN). TFN offers a cloud-based, real-time software management solution that helps me manage all my on-road refuelling and driver spend needs. Given that the bulk of operational costs in road freight is fuel, one must have their finger on the pulse and be on the constant lookout for the best price, over and above monitoring driver efficiency. The TFN Management system helps me decide, where, when, and how much the driver can refuel.

Sidebar – I’ve been driving a Ford Kuga 1.6 AWD for a few years (NB: No fire starter jokes allowed) and for such a small engine, that car can chow fuel – I’m talking 11 – 12km/100! I never used to fill up because it was painful watching all that money go down the drain. When I filled up the truck for the first-time round, let’s just say I needed to sit down because I felt a little dizzy.

Every day, we transport goods worth millions of Rands. It goes without saying that the safety and security of the driver, the goods we carry, as well as the trucks themselves, is of paramount importance. TFN’s solutions enable us to run a cashless operation. In the road freight sector, cargo, equipment, and increasingly drivers, are all targets for criminals and if we can take one incentive out of the equation, the better off we are.

Whilst on cashless operations, I would like to give SANRAL a standing ovation. Now, now, before your eyes roll all the way to the back of your head, let me just say that we might have qualms as “Gautengers” about how they went about the e-toll saga, but their app is such a lifesaver! With an e-tag fitted on the vehicle, I can manage my account quickly and securely. The app works in real-time, allowing me to be kept informed of my spend on vehicles. And lo and behold when I do forget to top up (because …you know …admin), I immediately get a notification the moment my funds are depleted, allowing me to top up immediately whilst the truck is still on route, contributing to a seamless operation. Well done SANRAL. Sometimes the government does get it right …sometimes.

The South African logistics sector contributes about 12% towards the GDP, according to Stellenbosch University and the World Bank. Of that percentage, approximately ¾ is attributed to road freight alone. With such modestly generous figures, it’s encouraging to see various organisations come up with digitally inspired solutions to cater to this industry.

This brings me to my most used platforms, Car Track and Tracker. I can only assume that before the advancement in technology, one must have had to have a great deal of faith, composure, and trust. Not to say that we no longer require these skills, but the ability to log onto these apps and be able to get real-time updates on the exact location of a customer’s goods in transit certainly prevents a blood vessel or two from popping (in the event that you cannot reach the driver.) As for Google Maps, it goes without saying, that this is the backbone of my interaction with these tracking platforms.

There are a bunch of other digital platforms such as Linebooker that I am still to explore as the business continues to grow. However, it’s been interesting to know that before we start thinking self-driven trucks (think of that one scene from Terminator, were the machine is operating the truck…but I digress) and other seemingly complex technological advancements aimed at this industry, there are still digital channels that make the day to day operations in logistics that much easier.

What other digital platforms are you using or have you heard off that have made a world of a difference in the logistics space?

Article by: Geraldine Mamburu, Founder & MD PDQ Logistics

Download BAO E-MAGAZINE

Continue Reading

Technology

Three African-American Female Engineers Who Changed Our World

Published

on

Image source: Pexels

The fields of science, technology, engineering, and mathematics (STEM) produce innovation that drives us forward as a species. Despite the fact that women and people of color have often been at the forefront of new discoveries, their representation within the STEM fields is historically low.

As culture progresses in understanding toward the value of a diverse workforce, those seeking out the future leaders of STEM are reaching out to underrepresented populations – specifically, women and people of color. One such outreach is ‘Introduce a Girl to Engineering Day’, a global campaign established by the National Society of Professional Engineers.

The event, which takes place this February 25, is run by teachers, volunteers, and STEM professionals, and includes engaging engineering-based learning activities that encourage young women to develop problem solving skills and indulge their interest in science and engineering.

The road to their future success was paved by the intrepid women who came before them, including these three remarkable African-American female engineers:

  • Kimberly Bryant: Seeking to create an inclusive technology learning space for young women of color, Ms. Bryant created the not-for-profit coding camp Black Girls Code. As of late 2019, the organization has 15 chapters, and Ms. Bryant has been recognized as a White House Champion of Change for Tech Inclusion as well as one of 2013’s 25 Most Influential African Americans in Technology.
  • Dr. Patricia Bath: An early pioneer of laser surgery for cataract treatment, Dr. Bath was the first female member of the Jules Stein Eye Institute, the first female African-American surgeon at UCLA Medical Center, and the first female leader of a postgraduate ophthalmology training program.
  • Alice Parker: A housewife from New Jersey, Mrs. Parker developed and filed a patent for a gas-powered central heating system inspired by cold coastal winters. Her filing came before both the Women’s Liberation Movement and the Civil Rights Movement, a remarkable achievement for an African-American woman during her time.

More stories of African-American female engineers and  female leadership in engineering can be seen here:

To discover more about Introduce a Girl to Engineering Day, visit NSPE online.

Download BAO E-MAGAZINE

Continue Reading

Press Release

North Ladder Secures $5 Million Series A Financing Round To Accelerate Global Expansion

Published

on

North Ladder Team (Source: Siddharth Sudhakar)

North Ladder (previously called BuyBack Bazaar), a UAE based secured trading platform for pre-owned luxury assets and electronics, today announced a $5 million Series A funding round led by regional venture capital firm BECO Capital. The new investment will help the company scale up its technology platform, enhance customer experience and pursue further geographic expansion.

The homegrown start-up also revealed that it will begin operating under the new brand name North Ladder effective immediately, representing the company’s strategy of charting new markets and supporting individuals across the globe in their endeavour to elevate their financial situation. The disruptive and innovative technology platform is the first of its kind, providing access to verified buyers of second-hand goods and instant cash. North Ladder currently enables users to sell electronics such as phones, laptops, tablets, and smart watches, as well as luxury assets including watches and cars, with a unique option of buying it back within a few months.

The Series A financing builds on an exceptional year for North Ladder which saw rapid growth of its clients, network of buyers and corporate partnerships. To date, the platform has witnessed over 15,000 transactions in the UAE, with over 85 different nationalities served while earning an impressive 4.9/5 customer satisfaction rating. In 2021, the start-up is looking to establish its presence in the Kingdom of Saudi Arabia and the United States, with a focus on scaling the platform significantly in the next 18 to 24 months.

“North Ladder has demonstrated tremendous success with its unique model of helping customers access immediate funds against their assets. The provision of a seamless and trusted digital platform for the sale of pre-owned goods has immense socially transformative potential at a global scale. We are excited about partnering with them to take their services to the next level,” said Dany Farha, CEO & Managing Partner, BECO Capital.

The company recently appointed Sandeep Shetty, former Managing Director of the core ride hailing business at Careem, as Cofounder and Chief Executive Officer of North Ladder. Prior to Careem he also led the digital transformation program at Emirates NBD and has held leadership positions at McKinsey & Company and GE Capital across India, the United States and the Middle East. Sandeep joins the leadership team of co-founders Pishu Ganglani and Ricky Husaini who together bring years of prior global start-up, financial services, technology and operations experience.

“Our exciting partnership with the region’s leading investor BECO Capital gives us the opportunity to scale operations in the UAE and expand to other strategic markets, with the mission of meaningfully impacting people across all strata of society,” said Sandeep Shetty of North Ladder. “Our global auction brings professional buyers from around the world to compete and provide local customers with the best prices and no hidden surprises.”

Since its launch in 2018, North Ladder has been recognized as one of the “Top 5 innovative start-ups in the MENA region” by PayPal backed accelerator, Village Capital and awarded as an Innovator by Entrepreneur Middle East.

 

Download BAO E-MAGAZINE

 

Continue Reading

Ads

Most Viewed