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Kazang , the prepaid value-addedservices (VAS) and card acquiring business within JSE-listed fintech Lesaka Technologies, has launched its Kazang Pay card acceptance solution for merchants in Zambia. million debit, credit and ATM cards in issue and 41,000 point of sale (POS) terminals in place.
From independent sales organizations (ISOs) and payment facilitators (PayFacs) to acquirers, card associations, and beyond, each entity plays a unique role in shaping the payment industry. Acquiring Banks: Acquiring banks act as the conduit for funds to reach merchants, these banks provide the infrastructure for card payments.
It’s easy to forget that, a decade ago, more than 96 percent of retail sales happened in a physical store. The decision to acquire CyberSource was an investment in building value-addedservices around accepting cards and various forms of digital payments online.”.
Kazang , a prepaid value-addedservices (VAS) and card-acquiring business, has launched a new card acceptance solution in Zambia, making it more affordable for merchants to accept card payments. million debit, credit and ATM cards in issue and 41,000 point of sale (POS) terminals in place.
However, that also provides endless business opportunity for payment and commerce service providers, of course. The overreaching idea for this launch — and for new payments and commerce initiatives in general, especially those involving point-of-sale (POS) and checkout technology — is to provide frictionless experiences for customers.
You can’t blame hypocrisy for that – not when fresh data from PYMNTS, along with a new interview with Nicky Koopman, SVP of content and value-addedservices at AEVI , tells a much deeper story. Smart POS Knowledge. Acquirer Role. According to Koopman, it’s partly the merchant acquirers. Bridging the Gaps.
With the same solution, POPcodes also helps acquirer and ISOs better service and support their merchant community. So the company isn’t trying to sort out promo codes for online versus in-store (both work either place) or figure out how to let their loyal customers cash out their loyalty points at the point of sale (POS).
But as PYMNTS readers know, new technologies and ideals from the point-of-sale world are transforming the function and idea of the retail countertop. percent — are willing to switch payments service providers if offered a better deal. According to the Index, most businesses — specifically, 56.4
A Payment Gateway is the digital equivalent of a point-of-sale (POS) terminal in a physical store. A payment gateway is ideal for businesses that want to keep control over their payment stack and work with separate processors or acquiring banks. The issuing bank transfers funds to the acquiring bank.
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