Business News Tue, 15 May 2018

PaySwitch promises better payment solutions for financial institutions

Chief Technology Officer of PaySwitch Company Limited, Emmanuel Osei-Akoto has urged all financial institutions in the country and globally, to take advantage of some new payment solutions his outfit is introducing into the Ghanaian market, to facilitate safe, fast and secure business transactions.

The company, which was established in 2015 seeks to provide an integrated payment solution that will facilitate the circulation of money as well as the exchange of values between individuals, individuals and organizations, organizations and individuals and between organizations on a timely and consistent basis.

Speaking at a Digital Business Summit organized by the company in partnership with BPC Banking Technologies in Accra, Mr. Osei-Akoto said as an indigenous company, PaySwitch had more understanding of the needs of the people, the emerging market/banking trends, hence the ability to provide the relevant solutions to the business sector at a reduced cost.

“PaySwitch offers multiple but convergent payment solutions ranging from card issuance, hosting, fraud solution, payment aggregation and consultancy. Currently our target market includes commercial banks, non-banking financial institutions, telecommunication companies and other organizations within the payment space in Ghana and West Africa.

Relying on SmartVista, we provide you with a high performance and real time authorization switching service, and also provide our customers with a faster and multiple deployment options as well as optimized routing of your authorization requests. We can also detect and prevent fraud across all our payment channels making our clients feel safe and secured. While PaySwitch takes care of everything needed, our clients can focus specifically on their business cases,” he said.

Chief Executive Officer for GHIPSS, Archie Hesse, a guest speaker at the event called on the various stakeholders and industry players in the business sector to revolve and open up to new technologies so Ghana can join the global market and the increasing advancement in the world of technology.

“The way people use to bank then is different from how people are banking now. The internet has made things better and faster and people now expect better services which we should be able to provide. We must be open to new technologies and new ideas, some are already ahead of us, but it is possible to catch up.”

PaySwitch’s Chief Executive Officer, Kojo Choi added that, with “PaySwitch offering more for less, we are hopeful more people will join us on this journey. We know what we want to achieve and what our clients stand to gain. PaySwitch is here to stay and has a lot to offer.”

The summit was held on the theme, “A new day; A new way”, and paves way for the launch of the Company on May 16, 2018 at an event which will be graced by the vice president Dr. Mahamudu Bawumia and the Governor of Bank Of Ghana Dr. Ernest Addison.
Source: www.ghanaweb.com