Interswitch and Vienna Payment Solutions have announced a partnership to enhance payment solutions for banks, hospitality industry players, on-the-go services, financial institutions, and retailers.
According to the firms, the collaboration involves the introduction of VIPASO, which comprises two distinct applications.
In a statement, the partners explained that one of the features includes “a consumer app and a merchant app, on Interswitch’s platform, starting in Kenya, with progressively rapid regional adoption expected.
“The applications seamlessly operate between a smartphone/feature phone (consumer) and a smartphone/feature phone (merchant) or between a smartphone/feature phone (consumer) and an Android Point of Sale terminal (merchant),” it noted.
They stated that the solution would also utilise Bluetooth low-energy connectivity to offer an alternative payment method for consumers in scenarios where traditional card or mobile phone payments are inconvenient or hindered by unreliable internet connectivity.
Interswitch Country General Manager for Kenya, Romana Rajput, stated, “As a strategic response to evolving challenges, this collaboration not only fortifies the security of financial transactions but also underscores Interswitch’s commitment to fostering digitalisation and financial inclusion in Kenya.
“The VIPASO solution reflects Interswitch’s dedication to being a catalyst for industry innovation, adapting to changing trends, and meeting the evolving needs of customers in the pursuit of reliable solutions for financial inclusion.”
The Chief Executive Officer, VIPASO, Matthias Horvath, added, “We are honoured to partner with Interswitch in East Africa on our mission to make VIPASO technology available to everyone, everywhere. We started VIPASO with a goal to make POS (point of sale) payments simple, reliable, safe, and universal. The partnership with Interswitch marks significant progress towards achieving this goal.”
Recently, Interswitch noted that disruption and innovation could serve as avenues for growth for financial services.
At the time, the Managing Director of Payment Processing and Switching (Interswitch Purepay), Akeem Lawal, said, “To prosper, we must wholeheartedly embrace disruptive forces, infusing innovation into the very essence of our work. Our expedition toward scaling up and catalysing growth hinges upon our capability to conceive solutions that empower individuals and businesses.”