Verve, Alcineo launch SoftPOS to boost e-payment in Nigeria

Verve has partnered with Alcineo, a provider of payment software and services, to deploy a software point-of-sale (SoftPOS) SDK solution to ease e-payment in the country.

This cost-effective solution will enable merchants to use mobile phones or mobile devices to accept contactless payments from customers, without the need for additional hardware, thereby giving predominance to mobile channels.

The SoftPOS solution will leverage Verve’s secure payments platform and Alcineo’s expertise in payment software development to provide a seamless and secure payment experience for both merchants and customers.

The solution is expected to be particularly beneficial to small and medium-sized enterprises (SMEs) often faced with the challenges of accessing traditional point-of-sale systems.

The SoftPOS deployment in Nigeria is expected to further strengthen and contribute to the growth of digital payments in the country, across Africa and other regions where the Verve card is accepted.

Speaking on the partnership, Managing Director of Verve International, Vincent Ogbunude, noted that as the foremost indigenous payment card brand out of Africa, Verve continues to find innovative ways to ensure that Nigerians get access to easy and convenient payment options. He added that the partnership would significantly impact the growth of Nigeria’s digital payment ecosystem.

According to the Central Bank of Nigeria, only 36.8 per cent of Nigerian adults have access to formal financial services.

SoftPOS solutions like the one being deployed by Verve and Alcineo have the potential to increase access to payments infrastructure and support the growth of digital economy.