E-Commerce is growing globally at an alarming rate. In Africa, e-commerce is growing by 26% every year but 50% of customers fear online credit card fraud. The sole dependence on credit cards excludes millions of people who are under-banked, explains mobile banking expert, Brian Richardson.
Virtual Card is a secure online alternative that opens the door for those with no access to credit cards. It generates temporary card details needed to complete digital transactions. The user can also set the amount and time validity and share the details with others to use. The card details self-destruct within a set time limit and each card generated can’t be reused.
This revolutionary WIZZIT innovation benefits customers across the board, from individuals who fear giving their card details on internet sites to students without credit cards to the under-banked masses. It is safe, efficient and convenient - a ground-breaking value-add that banks can offer their customers.
Of all the market segments, the least serviced is the SME market – despite small business being the backbone of any economy. WIZZIT has developed a new tailor-made solution to address this gap.
Introducing the WIZZIT International Smart ESB. Developed over the last 10 years, it’s the ultimate solution for seamless integration with all existing and third party banking systems while maintaining complete security.
We can now offer an exciting range of end-to-end technology products for banks to service retailers and merchants in new ways.