Africa’s leading payment cards and digital token brand, Verve, has partnered with Alcineo, a leading provider of payment software and services, to deploy a software point-of-sale (SoftPOS) SDK solution.
This cost-effective solution will enable merchants to use mobile phones or mobile devices to accept contactless payments from customers, without the need for additional hardware, thereby giving predominance to mobile channels.
The SoftPOS solution will leverage Verve’s secure payments platform and Alcineo’s expertise in payment software development to provide a seamless and secure payment experience for both merchants and customers. The solution is expected to be particularly beneficial to small and medium-sized enterprises (SMEs) often faced with the challenges of accessing traditional point-of-sale systems.
The SoftPOS deployment in Nigeria is expected to further strengthen and contribute to the growth of digital payments in the country, across Africa and other regions where the Verve card is accepted.
The partnership also aligns with Nigeria’s efforts to promote financial inclusion and increase the adoption of digital payments. According to the Central Bank of Nigeria, only 36.8% of Nigerian adults have access to formal financial services. SoftPOS solutions like the one being deployed by Verve and Alcineo have the potential to increase access to payments infrastructure and support the growth of digital economy.
Speaking on the partnership, Vincent Ogbunude, Managing Director of Verve International, noted that as the foremost indigenous payment card brand out of Africa, Verve continues to find innovative ways to ensure that Nigerians get access to easy and convenient payment options. He added that the partnership will significantly impact the growth of Nigeria’s digital payment ecosystem.
The SoftPOS SDK solution being deployed by Verve and Alcineo has the potential to increase access to payment infrastructure and support the growth of the digital financial system. This partnership represents an important development in the African payments landscape and a positive step towards increasing the accessibility and security of digital payments in Nigeria.