Private Payment Solutions for Telcos in emerging and developing markets
Telcos across the globe that operate in emerging markets and economies have been fighting to combat the effects of ‘Over The Top’ services such as Skype and WhatsApp, that have eroded core voice revenues. The response has been to focus on data services, diversify into apps, gaming, and entertainment, and to offer SaaS and unified comms solutions to bolster declining revenues with business customers.
These Telcos have launched successful e-money platforms that enable consumers and businesses in emerging economies to trade using simple SMS and Smartphone-based peer-to-peer technologies. This has disintermediated banks in a way that has to an extent accelerated financial and digital inclusion.
Specifically in these emerging markets, Telcos struggle to offset the heavy costs incurred by offering payment solutions in partnership with banks and the major schemes like Visa and MasterCard. Understandably these are often passed onto consumers, greatly affecting the adoption rates of mobile money solutions.
VeryPay is a private payment scheme that Telcos can deploy to their existing network with white-labelled apps. Without the need for scheme operators or banks, costs are vastly reduced, making the service more palatable for end users and small business customer alike.
With lower transaction fees, VeryPay drives usage of existing eMoney solutions and attracts new users to the payment scheme.
Telcos across the globe have been fighting to combat the effects of ‘Over The Top’ services such as Skype and WhatsApp, that have eroded core voice revenues. The response has been to focus on data services, diversify into apps, gaming, and entertainment, and to offer SaaS and unified comms solutions to bolster declining revenues with business customers.
Telcos have launched successful e-money platforms that enable consumers and businesses to trade using simple SMS and Smartphone-based peer-to-peer technologies. This has disintermediated banks in a way that has to an extent accelerated financial and digital inclusion.
Particularly in emerging markets, Telcos struggle to offset the heavy costs incurred by offering payment solutions in partnership with banks and the major schemes like Visa and MasterCard. Understandably these are often passed onto consumers, greatly affecting the adoption rates of mobile money solutions.
VeryPay is a private payment scheme that Telcos can deploy to their existing network with white-labelled apps. Without the need for scheme operators or banks, costs are vastly reduced, making the service more palatable for end users and small business customer alike.
With lower transaction fees, VeryPay drives usage of existing eMoney solutions and attracts new users to the payment scheme.
Closed Loop Payments for Telcos
VeryPay Benefits
More accessible
Lower fees make mobile money solutions more attractive to unbanked, digitally isolated communities.
More merchants
Micro and small business customers can turn a smartphone into a simple, low-cost payments acceptance terminal, with no rental fees. Large retailers are also supported.
More end customers
VeryPay’s family and friends sharing feature increases customer adoption by linking multiple contactless payment cards and wearables to a single mobile wallet account, all without the need for a smartphone.
Easy to use
Simple apps for both merchant and consumers make managing money and payments easier than ever before.