Johannesburg, 27 February 2014: Setcom Payment Solutions has been a leading South African Payment Service Provider since 1998. Setcom is driven by an entrepreneurial spirit and a passion for e-commerce, which has inspired the development of four, innovative payment products. Each of their four products offers a unique value proposition to meet specific business needs.
“As a payment partner, Setcom’s philosophy is to provide clients with an opportunity to grow their businesses and revenue across multiple channels. Our 16 years of experience enables us to provide and deliver payment platforms that suit any client, from an SME venturing into the online environment to a Tier 1 client that processes high transaction volumes.” said Setcom Payment Solutions CEO, Kumalan Naidoo.
Setcom Payment Gateway:
The first of Setcom’s product offerings is the Setcom Payment Gateway, which is ideal for merchants who wish to accept secure online and mobile credit card payments directly into their e-commerce merchant accounts. Other services offered by the Setcom Payment Gateway include fraud screening and risk management, secure voice transactions, as well as recurring and bulk payments.
SID Instant EFT:
SID Instant EFT is another unique product developed by Setcom Payment Solutions. SID is recognised as the most popular online payment alternative to credit card in South Africa. It’s ideal for merchants who aim to increase their online and mobile sales by offering their customers an additional payment option to credit card. Many South African consumers prefer SID to credit card because it allows them to complete their online purchases without drawing on credit; others have security concerns about paying by credit card, or find the newly imposed 3D secure authentication cumbersome; and many don’t even have credit cards. In order to avoid lost sales and to ensure optimal ease of payment across all devices, SID comes highly recommended to South African merchants.
The third product offered by Setcom Payment Solutions is called MonsterPay, which is the ideal Payment Gateway for budding South African entrepreneurs looking for a quick, easy and affordable way to grow their businesses online. With MonsterPay, there are no setup fees or monthly fees and merchants don’t require an e-commerce merchant account to start selling. MonsterPay offers secure credit card processing, as well as SID Instant EFT.
The final product in the Setcom portfolio is named Swish, which offers a complete mobile point-of-sale (mPOS) solution. When using a Swish card reader in conjunction with the free mobile payment app, a merchant’s Android- or iOS-powered smartphone or tablet is effectively converted into a secure point-of-sale card terminal. Swish is unfortunately not yet available in South Africa, but Setcom intends to bring this exciting solution to the SA market in July 2014.