Oltio joins forces with PayU

Oltio, has partnered with PayU to introduce mobile payment solution, payD, to the local market.

PayD aims to remove obstacles to the mainstream adoption of e-commerce by transforming a user’s mobile phone into a remote point of sale (POS) device, using debit or credit cards for payments to be processed.

“This is a significant partnership for us because PayU currently processes 65% of all online payments in South Africa for brands such as Kalahari.com and Netflorist, which is at the moment, only available to customers with credit cards.  payD makes it possible for debit card users to also make the transition to mobile based e-commerce,” says Dave Parratt, Oltio’s head of new business development.

According to an e-commerce study conducted by Strategy Worx earlier this year, South Africans remain sceptical of online shopping, with only 2.7% of the more than 15% of consumers that have a fixed line Internet connection choosing to purchase goods online..

“We believe that by putting the power of the point of sale device in the hands of consumers, via their cellphone, linking their number with a debit or credit card and utilising a Bank or ATM PIN number to authorise a transaction, we will minimise some of the scepticism surrounding e-commerce in South Africa,” Parratt adds.

PayD technology is being used by Oltio parent company, MTN, for its Eazi recharge pre-paid airtime top-up service which already has nearly 130 000 users.

“Adding payD to the extensive payment methods at PayU is another significant milestone in enabling e-commerce in South Africa. With PayD we now open up opportunities for merchants to reach more consumers who were previously excluded from transacting online, some of them would probably be transacting online for the first time,” says Mark Chirnside, CEO at PayU MEA.

pf button big Oltio joins forces with PayU

Related News :

  • The product aims to take the hassle out of the complexities associated with online payments and grow e-commerce.

    Mobile payment service provider, PayU, has introd …

  • Emerging markets have graduated from the fringes of the online environment to the centre, says PayU. According to Mark Chirnside, CEO of the online and mobile payment service provider - consumers are steadily becoming savvy, globally focussed …

  • MTN has enhanced its Eazi Recharge airtime facility to now enable customers to purchase SMS and Internet bundles - in addition to being able to top up airtime from their handsets and other mobile devices - using their debit or credit cards anywhe …

  • Absa says it will continue to invest substantial human capital and finances into retail banking technology and innovation. “In line with customer expectations, we are committed to innovating on an on-going basis. This is significant as the way …

  • With 2011 drawing to a close, Absa has urged customers to exercise vigilance when transacting this festive season. Traditionally, banking fraud spikes over the holidays as more South Africans vacation and spend money. Customers need to be mind …

Comments are closed.

Download Subscription Form

Download Magazine Subscription Form

Sign up for SAITNEWS — Tracking ICT news in the public sector

SAITnews is an independent online ICT publishing service focusing on tracking ICT news and projects in the public sector.
* = required field

powered by MailChimp!