Working in the online retail industry, I’ve been able to engage with new and exciting business. South Africa is the world leader in banking and banking and financial technology, we don’t realise in just what a unique position we’re in when it comes to online and digital payments and finance.
I’ve spoken to my friends at Snapscan and Zapper a few times about online and virtual integration into our websites, but I’ve never really understood the backbone of the payment systems that have been in place all this time to make businesses work.
Enter Sureswipe and Concorde
Sureswipe is South Africa’s leading Payment Service Provider. They continues to make strides in the local FinTech market with the acquisition of Concorde Solutions, a provider of integrated payment processing solutions for businesses and independent retailers. To retailers this will mean a single point of contract and contact for fully-integrated payments; a monumental move in the efficiency and effectiveness to facilitate payments.
This acquisition is the first step in a cutting-edge strategy that aims to provide merchants with a more streamlined process, and make the payment method far simpler for consumers, by allowing them to use any payment method via one pay-point, without the administrative hassle and crippling costs to the merchant.
“Internationally and locally, Fintech companies are disrupting the large traditional financial organisations. The opening of a previously protected market is allowing companies such as ourselves to solve real-life problems affecting independent retailers. Any time major changes occur in an industry, it creates an opportunity for innovated, flexible and agile companies. We are very enthusiastic about further establishing our position within the market.” says Paul Kent, Managing Director at Sureswipe
The acquisition of Concorde Solutions is an integral step to complete the Sureswipe product offering for “physical card acceptance”.
In other words, by adding a fully integrated payment solution to the product offering, the company is now able to offer independent retailers a range of products that includes integrated payments with point of sale software and that reduces errors and simplifies reconciliation and administration.
Combining the best of both organisations will elevate the product offering and improve the customer experience.
“Concorde is a great business with a focus on customer experience and quality service. The addition of the specific technology and skills that Concorde brings to Sureswipe will definitely strengthen the offering they bring to market and ensure greater ease of business for retailers.” says Elliot Bunney, Managing Director at Concorde.
“The technology, product, skills and client base that Concorde bring, is creating an opportunity for Sureswipe to be the first PSP in South Africa to offer a complete range of card acceptance products. Adding value, simplifying contracting and reducing in-store complexity. In a nutshell from an independent retailer to a sizeable client such as Burger King or Nando’s, retailers will simply do better business,” concludes Kent.
Companies like Sureswipe are the forms of businesses that will be ruling the online space in a few years, if not already. Everyone needs to pay for things, it’s a matter of who can do it better, affordably and more efficiently. The future for African fintechnology is strong, the only thing stronger is the indication that the retail and consumer sectors are mature enough to grow along with these kinds of companies to warrant these advancements.
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