SME Online offers merchants a better way to receive web payments
LAGOS – April 29, 2013 – Leading global payment solutions company MasterCard, has a new addition to its existing internet payment gateway solution in Nigeria. Targeted at Small and Medium Enterprises (SMEs), the introduction of SME Online to the market further demonstrates the commitment of MasterCard to building a cashless ecosystem in Nigeria.
The MasterCard Internet Gateway Service (MiGS) provides a comprehensive internet payments solution which banks can offer to their merchant customers who seek to accept payments on their websites from cardholders of all major card schemes wherever they are.
The newest addition, “SME Online”, is a suite of value-added services that works seamlessly with MIGS and extends the benefits of online card acceptance to a broader merchant segment. The features include invoice payments, batch payments, reoccurring scheduled payments, virtual terminal and web shop. It’s a simple to implement, easy to use web-based payment solution that banks can offer to their SME merchants.
A key benefit for merchants is that the system can be self-managed. It is designed to enable SME merchants to establish an internet presence for their businesses, including website design and processing of batch and individual card payments.
SME Online allows merchants to build their own web shops, including shopping carts and online product catalogues .It also provides a custom branded e-commerce solution to manage and authorise online payment transactions in over 145 currencies. Once merchants create their own web shop, they can start accepting online shoppers on a simple platform that embeds lots of functionalities, and they can add new functionalities at any time.
According to Omokehinde Ojomuyide , Country Manager, MasterCard West Africa, “With the likes of Jumia.com, Nigeria’s No.1 Online Retailer, and wakanow.com, Nigeria’s No.1 Online Travel Website, already signed on to MIGS payment gateway solution, shoppers in Nigeria are already enjoying the benefits of convenient and seamless 24×7 online shopping. SME Online will extend these benefits to thousands of smaller merchants and open the world of online shopping to millions of Nigerians.”
Guaranty Trust Bank and Zenith Bank currently offer the MIGS services to their merchant customers, while SME Online is only available at Zenith Bank. Interested merchants and SMEs can now subscribe to the MasterCard’s internet payment gateway services via Zenith bank under the brand name GlobalPay and with Guaranty Trust Bank as GTPay Plus.
MiGS is the MasterCard Gateway Service, and is a high value-add Payment Gateway service from MasterCard to its Members designed to enhance Acquirer services and provide profitable payment processing for their merchants.
It provides an attractive outsourcing option to the Bank, to provide their Merchants with secure payment processing services for all major card brands across all channels including Call Centers, IVR, e-commerce, m-commerce and electronic bill payment.
MiGS can support payment instruments across the B2C spectrum and provides Merchants with administration tools to improve payments visibility, and reduce bank support.
MiGS is NOT just an internet gateway – MiGS uses the internet to provide merchant-to-MasterCard connectivity.
About SME Online:
SME Online is a white label suite of value added services that works seamlessly with MIGS.
SME Online provides acquirers with a wholesale, hosted card payments solution for their merchants
It’s a simple to implement, easy to use web-based payment solution.
The model has been successfully developed and deployed in Australia over the past four years and has over 11,000 merchants & processes over 2.5M transactions per month.
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.