EPG boosts money transfer options for countries in Africa
Euro Payment Group (EPG) has integrated a number of new payments solutions for emerging markets across Africa.
This is after EPG secured global partnerships which also enable the repatriation, or settlement of funds processed in South Africa, Nigeria, Kenya, Uganda, Rwanda and Ghana to a European bank account.
“Working with leading local partners is fundamental for us to facilitate domestic payment processing including fund repatriation whilst expanding with largely European oriented merchants into the African market,” said Tony Joeglal, VP of Global Business Development & Marketing at EPG.
The company has subsequently produced a list of new payment methods for the six African countries, starting with South Africa where customers will be able to redeem Discovery Miles – a ‘niche’ loyalty payment to support the core bank card (Visa, Mastercard and Amex) and Instant Bank Transfer (Ozow – formerly known as i-Pay) methods.
Next on the list is Kenya, where major operators had their digital payment processing channels suspended this summer as part of a tax dispute with the country’s revenue collection agency. Customers here can use the same core card payments alongside mobile-focused money transfer solutions mPesa, Equitel and Airtel.
Meanwhile, in Uganda – a country enduring a similarly turbulent time for sports betting since president Yoweri Museveni put a ban on the issue of new licences in February – is one of three countries where EPG clients will offer Airtel, Tigo Cash, MTN Mobile Money and Vodafone payment types. Those in Rwanda and Ghana can enjoy the same four methods.
Finally, EPG will mix bank card payments (Visa, Mastercard and Verve) in Nigeria by adding the account number-based solution developed by Nigeria’s inter-bank settlement system (NIBSS). Starting out with just two commercial banks in 2011, the NIBSS Instant Payments (NIP) service has grown to include all commercial banks, Micro-Finance banks (MFBs), and Mobile Money Operators (MMOs).
Source: SBC News