The topic of e-commerce and merchant accounts in South Africa is still somewhat of a taboo. A friend of mine recently spent over a month trying to get a merchant account that would allow him to accept payments online in the manner he wanted. It was a slow and difficult process, one which he says he never wants to have to go through again.
I received a press release not too long ago about a service called evriPay, which essentially provides entrepreneurs and small businesses with e-commerce merchant accounts. It’s a new service based on some exciting technology that is designed to meet specific payment needs of interested parties. The service in South Africa is provided by evriPay under agreement with a major South African bank and includes internally recognised fraud management technology.
Here’s the press release:
In designing the business to meet the specific requirements for entrepreneurs, new and small businesses it became obvious that the fee structure had to be sustainable for cash strapped start-ups. evriPay’s fees structure has no monthly or start-up fees. Everything is “pay as you go”. This reduces the risks to the new business and assists them to get to market.
Currently there a two ecommerce products available, “Express” for use on websites, and “PayMi” (pronounced “pay me”) which is an electronic invoice. “Express” is easy to integrate into a website and has been designed to meet the requirements of new and start-up companies. Although not requiring great skills for implementation, the product meets all international security requirements. “PayMi” is a unique product that can be used for ecommerce payments without a website. Primarily designed for businesses and entrepreneurs that need to invoice customers, this product essentially creates a one time website with credit card payment facilities built in. Typical users include freelancers and tour operators.
Built into the evriPay products are two levels of security. Firstly is 3D Secure which is the international standard merchant protection from Visa and MasterCard. Secondly is an international fraud management service that is not currently available to entrepreneurs, new and small businesses in South Africa. This service performs over 200 checks on each transaction and is probably the most sophisticated system available.
“We fundamentally understand that entrepreneurs, new and small businesses are new at this game. They generally do not have a lot of experience in payments yet. To assist them we have a Support Team that can be contacted by phone, email, Skype and Twitter,” says CEO Barry Coetzee. “With the advent of m-commerce (commerce on mobile devices) and with ecommerce growing at 30% per year in South Africa, evriPay is really positioning itself to be the payment solution provider of choice for entrepreneurs, new and small businesses.”
Sounds like a step in the right direction to me. Head on over to evriPay to learn more, sign ups are open too!