DataCash, a MasterCard company, has today announced a new partnership with Swiff, the flagship brand of SCCP Group, that delivers white-label mPOS solutions to bank partners, allowing them to add a further, 'quick to market' payment service to their portfolio for the burgeoning global SME market.
The Swiff Pay solution is comprised of a secure plug-in card reader dongle, which is compatible with smartphones and tablets including Android and iOS devices. Powered by a downloadable app, which connects the dongle and web-enabled device to the DataCash payment gateway, the solution facilitates card-based payment authentication on the move. SME merchants are then able to accept bank level secured transactions including MasterCard, Visa, American Express, Diners and JCB from their devices.
Banks can adopt this outsourced technology solution while retaining brand consistency. In turn, their SME clients can expand their payment acceptance options and generate cashless credit and debit card transactions in an affordable, safe and secure payment environment.
"We are delighted to be working with DataCash to be able to deliver innovative digital payments mechanism and ensure that the bank and their merchants benefit from a reliable, robust and secure payment experience." - Etienne van den Bogaert, Chief Technology Officer at Swiff.
The SME market continues to be an important growth segment for the world's economy, representing 350 Million businesses globally[1], with a market value of $698 Billion[2], annual growth on average at 13.8%[2] and a potential card based spend at $5.1 Trillion[3]. Ensuring SMEs have access to the most convenient, secure and practical payments instruments to maintain safe commerce and accelerate growth is instrumental in DataCash's strategy to promote a great digital payments experience for everyone, everywhere.
"As a MasterCard company, we are committed to delivering and supporting the most innovative payment technologies and our partnership with Swiff is testament to this. This new technology both strengthens our White Label Payment Gateway service for our global partners and furthers the adoption of digital payments in the important SME segment." - Ajay Bhalla, president at DataCash
White Label Payment Gateway services from DataCash?
Powered by DataCash, the white label offering enables global banks and processors to leverage the benefits of the DataCash Payment Gateway, currently used by some of the world's most recognisable brands in the gaming, travel, retail and finance sectors.
The White Label Service will allow banks and processors to retain greater control of the flow of the e/m-commerce value chain by offering merchants a range of capabilities.
Footnotes
[1] Moya Marsh, 2011
[2] Glenbrook 2011
[3] Kaiser Associates 2011