VeryPay is an NFC based closed loop contactless payment system for mobile wallet operators. It acts as a complementary digital payment channel to increase the usage and adoption of mobile money solutions.
VeryPay integrates into the mobile wallet of a Mobile Network Operator, offering a ready-made closed loop contactless payment solution for use by its subscriber base of consumers and merchants
No, VeryPay is not a payment service provider. It is a technology provider that offers complementary payment technology for businesses that operate mobile money solutions.
VeryPay integrates directly with an e-wallet. Please get in touch with us at info@verypay.africa and we will arrange for our integration team to set up a call to discuss your existing e-wallet infrastructure.
The VeryPay system and technology service is available to wallet operators who are authorized in their region to operate electronic money services and e-wallets for their customers. Hence VeryPay provides services to licensed operators but is not required to hold licenses itself.
VeryPay allows customers to maintain complete control and branding over the entire payment experience. All elements of the VeryPay solution are branded to the customers own ‘look and feel’.
VeryPay is not a local payment method. VeryPay enables any mobile wallet operator anywhere, to offer its contactless payment solution to its subscriber base.
Yes, VeryPay is a complementary contactless payment solution. It offers an alternative to a Visa and MasterCard solution and enables digital payments to be available to subscribers who were previously restricted to just using cash.
No, a smartphone is not required to use VeryPay. Once an individual payment token (card or wearable device) is linked to a subscriber wallet account, they can be used to make a contactless payment at any VeryPay merchant enabled store.
VeryPay system was implemented with the top payment industry standards at its core. All data is encrypted while being transmitted, and all sensitive data is being stored in encrypted format. We utilize highly sophisticated payment industry certified HSM equipment to perform all security sensitive operations.
The tokens (cards and wearables) were designed to work at the highest level of security for any transaction. At the heart of a token is a secure chip, and a PIN is required for authorization before any transaction can be processed. This gives you full control over your funds and card. In case of a card loss, you can lock the card and get a replacement.
VeryPay is a closed loop payment solution that enables wallet operators to run contactless payments within their own subscriber network. Any subscriber can be set up as a merchant, without the need for a merchant account or bank account. Any subscriber can make a contactless payment at any VeryPay merchant enabled store.
With VeryPay, multiple payment tokens can be added to a single wallet, extending reach to those without a smartphone. Any subscriber can be set up as a merchant to accept digital payments, even those without a bank account.
QR code payments require the use of smartphones and network connectivity. The VeryPay solution extends payment acceptance to non-smartphone users. It’s payment tokens (cards or wearable bracelets) are linked to the users mobile money account and can be used without a smartphone and do not rely on network connectivity.
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