Technology Archives - Wizzit

Wizzit: Always at the Forefront of Payment Innovation

Blessing — Thu, 19 Dec 2024 12:11:42 +0000

Looking back at Wizzit’s journey, it’s amazing to see how far we’ve come. From our beginnings as a small idea to a respected player in payment solutions, the journey has been full of milestones that have shaped our growth. Along the way, we’ve introduced groundbreaking technologies and formed valuable partnerships that have helped us empower businesses and individuals, creating a real impact in the world of payments.

2004 – A Bold Leap into Branchless Banking

It all started in 2004, when we took a bold step and launched South Africa’s first branchless banking solution. At a time when smartphones and digital wallets were still in the distant future, we used the USSD channel to bring financial services to townships. With this simple yet powerful technology, millions were able to access banking services directly from their mobile phones – no internet, no fancy devices, just straightforward mobile banking.

This innovative approach was a game-changer, giving people access to financial services they had never had before. It marked the beginning of our commitment to financial inclusion and it set the foundation for everything that followed.

2008 – Expanding Beyond Borders

By 2008, we were ready to think bigger. Our mobile payment platform expanded internationally to three continents, processing over 1 billion transactions. This was a significant milestone that validated our vision and proved that mobile payments could work on a global scale. We quickly moved from a local solution to a global one, bringing financial services to people across regions that had long been underserved.

Our expansion wasn’t just about business growth – it was about changing lives. Our platform enabled people in emerging markets to manage their finances in a way that was previously impossible and we couldn’t be prouder of that impact.

2018/19 – The Introduction of Tap-on-Phone

One of the most exciting developments in our history came in 2018/19, when we developed Tap-on-Phone technology. This allowed merchants to accept contactless payments using nothing more than a smartphone. No more expensive POS terminals, no more complicated systems – just a simple tap on the phone and businesses could process card payments securely and efficiently.

Developing was one thing, shepherding the solution through a brand-new certification process was something else. 2020 was spent ensuring that our solution met the requirements set by the card schemes.

2021 – Visa and Mastercard Certification and Rapid Growth

In 2021, after receiving pilot certification from Visa and Mastercard, we launched Tap-on-Phone. This certification marked a major milestone, confirming that our solution was secure, reliable and ready for widespread use. With Tap-on-Phone, businesses could accept payments directly from their smartphones, enabling small merchants, especially in markets with limited access to traditional payment systems, to thrive in the digital world.

It was clear that our technology was resonating with businesses around the world. The simplicity, security and cost-effectiveness of Tap-on-Phone made it the perfect solution for businesses large and small and we were thrilled to see how it was transforming the payment landscape.

2024 – A Year of Major Milestones

2024 has been a year of incredible growth and achievement for Wizzit. We now proudly serve 71 customers across 45 regions, a huge increase from just a few years ago. In under three years, our customer base has grown by an impressive 610%, a clear sign that we’re on the right track.

This year has also been marked by significant progress as we continue to push the boundaries of payment technology. One of the standout achievements has been working closely with our device partner MobiWire and with our existing and new clients like, Jazzcash, ABSA eCitizen, Unicre and NASS, to help them offer innovative solutions to their customers.

MobiWire and Littlefish: Empowering Our Clients with Innovative Solutions

Our work with MobiWire has been transformative. By integrating our SoftPOS technology with their reliable mobile devices – including feature phones, smartphones and IoT devices such as tablets and payment terminals with strong NFC. – we’ve enabled businesses to accept payments securely and efficiently – using nothing more than a smartphone or MobiWire device. This solution has made payment processing simpler, more cost-effective and accessible for businesses of all sizes.

We’re also proud to have Littlefish as one of our clients. This dynamic platform for Micro, Small and Medium Enterprises (MSMEs) is powered by Wizzit’s Tap-on-Phone technology, allowing businesses to accept payments, track transactions in real time and access funding – all directly from their smartphones. This integration is helping MSMEs thrive, expand and improve efficiency across multiple markets.

These clients, along with our MOU with KaiOS, position us to continue transforming the payments landscape across South Africa, Africa and beyond. Together, we’re making financial inclusion a reality for millions.

Why Our Clients Matter

The growth of Wizzit has always been driven by the success of our clients. Working closely with MobiWire, Littlefish, Old Mutual and others has allowed us to create payment solutions that solve real problems for businesses of all sizes. By integrating our technology into their platforms, we’ve enabled these businesses to accept payments more easily, reduce costs and improve efficiency. And in doing so, we’re not just helping them grow – we’re contributing to the broader mission of financial inclusion.

As we continue to innovate and develop new solutions, we remain focused on providing secure, scalable and affordable payment processing that empowers businesses, from small enterprises to large corporations, to succeed in an increasingly digital world.

Certification: A Commitment to Security

Security has always been at the heart of what we do. This year, we renewed PCI DSS to PCI 4.0 and PCI PIN certification. These certifications demonstrate our commitment to safeguarding our customers’ sensitive data and ensuring that our solutions meet the highest standards of security.

Our Tap-on-Phone technology is nearly through the Mobile Payments on COTS (MPOC) certification process, which ensures that payment acceptance via commercial off-the-shelf devices (like smartphones) meets stringent security standards. These certifications help us stay ahead in the fintech industry, giving our clients the peace of mind that their transactions are safe and secure.

What’s Next for Wizzit?

Looking ahead, we are more committed than ever to helping businesses grow and thrive. We’ve come a long way since our humble beginnings in 2004, but we know that there’s still much more to do. As we continue to innovate and develop new solutions, we are excited about the future and the opportunities that lie ahead.

From our early work with USSD banking to our pioneering Tap-on-Phone technology and the powerful partnerships we’ve formed, Wizzit is focused on one goal: to make payments simpler, more secure and more accessible for everyone.

Wrapping It Up: A Grateful Look Back and Excited for the Future

Reflecting on our journey so far, we can’t help but feel immense pride in everything we’ve achieved. But it also fuels our excitement for what’s next. We’re ready to take on the challenges ahead, continue building partnerships and push the boundaries of what’s possible in the world of digital payments.

We’re incredibly grateful for the support of our clients, partners and the amazing Wizzit team. Together, we’ll continue shaping the future of payments and creating a world where financial inclusion is a reality for all.

Thank you for being part of this incredible journey. We can’t wait to see where it takes us next.

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Celebrating the Tech-Savvy Women at Wizzit

Blessing — Wed, 23 Aug 2023 11:48:13 +0000

Welcome to a celebration of inspiration, innovation, and empowerment at Wizzit! As we raise our virtual glasses to commemorate the incredible Women at Wizzit, we are thrilled to introduce you to the brilliant minds and dynamic personalities that constitute the undeniable “better half” of our exceptional team.

These exceptional women have consistently shattered glass ceilings, defied conventions, and illuminated the path forward with their remarkable contributions. Join us in honouring their spirit and unwavering dedication of the ladies who play an integral role in shaping Wizzit’s success story.

Rudzani Matjuda

Rudzani Matjuda’s career had been predominantly within the banking sector, where she refined her skills. However, a new chapter unfolded when she was invited to join the IT team led by a respected IT Head of the Bank in 2014. This move led her to roles in Business Analysis and Project Management, fields often male-dominated. Undeterred, she embraced the opportunity, excited about the growth and change happening in the IT landscape.

Portia Mphothwana

Portia Mphothwana joined Wizzit in 2008, bringing with her a National Diploma in Accounting and a Bachelor of Accounting Sciences. Despite specialising in finance, she has made incredible efforts to integrate with developers and continues to learn more about the technology of Wizzit to this day.

Violet Modise

Violet Modise has worked her way up through the ranks, beginning her career as a call centre agent before being promoted to the IT Service Desk and eventually earning the role of software tester. With her keen eye for detail and a thirst for knowledge, she has become a valuable asset to the team as she pushes the company to the next level of quality.

Hlalala Isabel Sithole

Hlalala Isabel Sithole joined us five years ago and has been an invaluable member of every team she’s worked on. She understands the importance of a responsive design and the incorporation of flexible layouts in providing a well-optimised experience across all platforms. She prioritises user-friendliness, and her dedication has made a significant impact on the success of projects at Wizzit.

Mbuelo Ralubuvhi

Mbuelo Ralubuvhi joined Wizzit in 2017, bringing her enthusiasm and the motivation to elevate front-end development. Her priorities extend beyond the present as she participates in initiatives that provide underrepresented groups with the means and skills to take their talents into the future. She has gone above and beyond the standards held by Wizzit.

These Women at Wizzit are more than mere team members; they are trailblazers who continue to reshape norms and redefine possibilities. As we toast their achievements, let their journeys remind us that diversity fuels innovation and inclusion drives progress. In commemorating their outstanding contributions, we stand inspired and eager to witness the future these extraordinary women will undoubtedly shape.

Contact us today for more information on our secure and frictionless payment services.

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WIZZIT Tap-On-Phone offers a world of new eCommerce Opportunities

Blessing — Tue, 12 Apr 2022 14:30:24 +0000

As you may be aware, PSD2 is now a regulation for banks and payment services providers across the UK and the EU. Compliance with PSD2 has been one of the most important challenges for financial institutions and the time has come to be fully compliant.

Payment Services Directive Two (PSD2) is a piece of legislation designed to force providers of payment services to improve customer authentication processes around eCommerce transactions.

So, what does this look like in the real world? PSD2 is having a big impact on the way merchants take payments from their customers. It introduces a two-factor ID requirement for certain transactions, potentially creating additional friction at the checkout.

The payment process

In order to make a payment, customers will be required to provide two forms of ID from the following three options:

Knowledge: something only the customer knows, such as a PIN or password.

Possession: something only the customer has, such as a mobile phone or payment card.

Inherence: something unique to the customer, such as their fingerprint.

Many banks have to comply by introducing OTPs (One Time Pins) via email or SMS for payments online. This can have a major impact on the customer experience and it is too early to tell how these additional measures will affect customer conversion rates for online purchases.

The innovation of Tap-on-Phone technology

WIZZIT’s Tap-On-Phone solution is a technology we believe solves many of the challenges around PSD2. Customers using this as a checkout payment option will only require tapping their bank card to their mobile device, inputting their pin on the pin pad when it appears and the transaction is made.

There is no need for OTPs and there is no need for having to put card details onto the web to make the payment. We believe this is a more convenient, safer, and quicker solution for paying online.

Get in touch today for more information at www.wizzitdigital.com, through LinkedIn WIZZIT Digital or via info@wizzit.com

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Some (mis)perceptions – and the reality of Tap-on-Phone

Blessing — Sun, 10 Apr 2022 10:23:07 +0000

For those that are involved in the payments industry it is so easy to get lost in the technicalities of the solution that we forget some very basic principles:

Customers do not jump out of bed in the morning saying “goodie, goodie, I am going to make payments today!”
What they want is a frictionless hassle-free experience.
What they want is trust in the system that it is going to work.
They want protection that should someone get hold of their cards and or device, they cannot go on an unauthorised spending spree.

The added protection of PIN to authorise payments builds trust and confidence. It is only people in the payments /banking space that raise the question about customer reluctance to put their PIN on a merchant’s mobile device.

WIZZIT has been testing the Tap-on-Phone product for many months, getting data on customer experience, and we have not had a reported incidence of a single customer (not involved in the payments/banking space) who has as much as raised an eyebrow when asked to put in their PIN on the merchant’s device to approve and authorise a transaction.

One special occasion and events company reported that customers actually had fun using the Tap-on-Phone technology. The other frequently raised question is whether merchants will embrace the acceptance of digital payments.

Three critical factors here:

safety in a reduction of cash on-premise;
an ability to enter the eCommerce world;
and the ability to build a track record that will enable access to affordable loans to grow the merchant’s business.

The Key is the ease of merchant onboarding where speed and a hassle-free experience are key.

Visit us: https://wizzitdigital.com/

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Wizzit Tap-on-Phone can reduce Chargeback fraud

Blessing — Tue, 01 Mar 2022 09:31:56 +0000

According to Expert Market, the latest chargeback fraud statistics are as follows:

A customer who is successful in filing – and winning – a chargeback dispute is nine times as likely to initiate another one.
40% of consumers who file a chargeback will do it again within 60 days.
81% of customers admit to ‘convenience’ as their primary motivator when it comes to filing a chargeback.
Friendly fraud generally goes up at a rate of around 41% every couple of years…
Almost half (49%) of friendly fraud chargebacks occur as a result of a misunderstanding. The customer simply wasn’t aware they were filing a chargeback!
Each year, the global average cost of chargebacks is around 0.47% of total merchant revenue.
Online sales make up almost half (55%) of all fraud experienced by multi-channel merchants.

Furthermore, some of the classifications of chargebacks are;

1) 30% of chargebacks are made due to stolen cards

2) 26% initiated from a product never arriving

3) 15% from retailer shipping wrong product

4) 8% from products not meeting customer needs

5) 3% clerical errors

WIZZIT’s Tap On Phone solution is not only used for merchants looking to use their mobile phone as a POS (point of sale) device but now also allows online customers to use their own devices as a POS device to checkout.

What does this mean? It means that when a customer wants to pay for their goods online, they can now simply tap their bank card to the back of their mobile device, input their bank PIN when prompted and the payment is done. It would feel like an in-store experience, only using your own device as a payment terminal.

This would have a huge impact on chargeback fraud which occurs with stolen cards. Fraudsters would need to know the card’s PIN to complete an online transaction.

It also has massive benefits to the merchant. The cost of the transaction becomes substantially less with their customers using the Tap On Phone checkout. This is because the transaction is not classified as a Card Not Present transaction.

WIZZIT have been in discussions with both Visa and MasterCard for our eCommerce solution and now we are entering into pilot with some of our global partners. We are looking to expand on our pilot client base so please do get in touch with us if this is something you would like to explore in more detail. info@wizzit.com or find us through

LinkedIn https://www.linkedin.com/company/wizzitdigital/

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Apple entering the SoftPOS World

Blessing — Tue, 01 Mar 2022 09:00:20 +0000

We have recently heard the news about Apple entering the Tap-On-Phone market. As more and more merchants and SME’s move away from cash, the use case of utilising your phone as a POS (Point of sale) device becomes extremely relevant and valuable for these businesses.

We have been asked on many occasions, what do we think about Apple offering this technology? We believe it is simply a fantastic way to know that Tap-On-Phone as a technology is something that is needed across the globe and has been acknowledged by one of the world’s biggest technology provider.

It is an opportunity for banks and payment service providers across the globe to engage with this new avenue to offer to their customers a full software card acceptance capability.

According to Statistica, Android maintain its position as the leading mobile operating system worldwide in January 2022, controlling the mobile OS market with a close to 70 percent share, while iOS accounted for around 25 percent of the mobile operating system market.

Android is thus a key OS for WIZZIT and we are pleased that our solution has been fully certified with PIN for Android OS 7.0 and above. Our solution also comes with a fully built payment switch making the integration to our partners extremely efficient and timely.

We truly believe that over the coming years, software over hardware will be the preference for not only the micro and SME merchant market for all businesses, to accept card payments.

It is clear that the adoption of this fast and convenient technology is paving the way to become the norm in future transactions.

If you are a bank or payment service provider looking to offer Tap-On-Phone, please get in touch with Wizzit. info@wizzit.com or find us on LinkedIn https://www.linkedin.com/company/wizzitdigital/

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Who will dominate the $476 trillion payments market?

Blessing — Mon, 14 Feb 2022 07:51:52 +0000

According to Payments Cards and Mobile (1 Feb 2022), the digital payments industry will soon be worth a staggering $476,1 trillion. They further predict that 74% of this will be handled by non Financial Service Institutions (FSI).

Despite the fact that traditional FSI’s will double their spending on payments technology to $80,3 billion by 2030, (2020 this was $39,7 billion) it will not be enough to compete with the nimbler more efficient non-FSIs.This decrease in market share of payments will cost the traditional FSI’s a staggering $250 Billion in payments revenue.

Almost 10 years ago, delivering a keynote address at a global banking conference, I challenged the bankers in attendance to whether banks should be in the payments business. The reaction was almost unanimous – “what a stupid question!” Well, looking at the stats above, maybe the question wasn’t all that stupid.

If the Traditional FSIs want to play in the payment space and maintain their dominant position, they are going to have to take a more serious strategic position and be a lot more innovative in the solutions that they provide. The article goes on to say that 95% of all non-cash payments will be contactless.

We would like to think that there is still a role that innovative banks can play in the newly emerging payments space. One thing that they do have in their favour is the trust of the market – at least in many parts of the world.

However, they still carry an “elitist” image and as was put to me by a highly respected businessman – “they do not want the gumboots in their banking halls.” A harsh reality is that a very large percentage of the $476 trillion will form the “gumboots” and this in itself presents a massive opportunity to innovative forward-thinking banks who want a piece of this payments industry.

WIZZIT has a 20-year track record around the world of providing innovative payments technology to innovative banks making the world a better place for everyone.

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The use case for Mobile phones as POS

Blessing — Tue, 08 Feb 2022 12:42:09 +0000

According to a 2021 study by Juniper Research, the global number of smartphones being used for Soft POS payments will increase from 3.2 million in 2021 to almost 24 million in 2026.

Soft POS represents an incredible opportunity to connect increasing consumer demand for new payment choices with a growing number of merchants seeking a digital-first approach.

This recent headline attracted my attention.

I utilise the services of at least 4 SMME’s several times a month who deliver services to me. One is a physio, one a Pilates Instructor, one a garden service, a hairdresser, and multiple coffee shops/delis/restaurants.

I am sure that this is no different to most readers.I do not carry cash as a rule and for whatever reason, probably only the physio has a physical POS to accept payments. I have demonstrated the WIZZIT Tap-on-Phone solution and every one of them would jump at the opportunity to work with it – including the Physio, should it be available.

As a consumer, it solves a major problem for me. For the merchant, it solves a major problem in enabling them to accept digital payments. All of the service providers I have mentioned have a smartphone. Which means there is no investment in hardware, maintenance, or paper rolls.

As a consumer I can tap my card, my watch or my phone on the merchant’s smart phone AND have the added protection of putting in my PIN.

Safe, secure, convenient and cost effective.

Are you also interested in bringing such a solution to your customer base? Contact us on LinkedIn https://www.linkedin.com/company/wizzitdigital or email us at support@wizzitdigital.com

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Understanding a Merchant Account

Blessing — Tue, 21 Dec 2021 13:59:35 +0000

As a small business looking to accept card payments, it is crucial to understand what a merchant account is, why it is needed and how it works.

A merchant account is an account that holds the trader’s money from their card sales before it transfers to their business bank account. The movement of these funds are automatically transferred between the accounts and can typically take 2-3 business days to happen.

Why is this needed and why can’t we use a normal business account? The difference is a merchant account is there to store all card payments in one place and helps work out what the card fees are before it is transferred to the business bank account.

Merchant accounts and card payments go hand in hand. A Merchant account can be supplied directly from the bank or from a Payment Facilitator. A payment facilitator (like Square) will have a master merchant account with an acquiring bank and thus will be able to simply sign-up small merchants themselves.

This makes the signing up process for a small business extremely easy, quick, and convenient. Whereas the onboarding going directly to a bank can take a long time with stringent contact restrictions. Many acquiring banks work with facilitators.

Small businesses often benefit from very good payment technologies that payment facilitators offer once signing up. One of the new technologies for small businesses is TapOnPhone, often referred to as SoftPOS in the payment industry.

TapOnPhone is a new small business game changing technology which allows merchants to accept card payments directly off your mobile phone. WIZZIT Digital works with acquirers to enable this technology for small merchants.

With implementations touching several continents, we continue to look for acquirers to work with and provide the best in class technology to their merchant base.

Please get in touch to find out more about TapOnPhone and how WIZZIT can help small businesses and acquirers move to the next level of acquiring.

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Payment Trends to keep an eye for in 2022

Blessing — Tue, 07 Dec 2021 13:10:23 +0000

Over the past 2 years, we have seen an enormous amount of development in the payment sector. This has granted a strong boost to e-commerce payments but also new innovative ways to enhance customer checkouts on the ground.

Buy Now Pay Later (BNPL) has grown in popularity across the US and is making headway into the EU and other Western countries. This has recently become a $100b industry and will continue to grow as millions of shoppers across the world now use BNPL to finance their purchases.

This type of financing is a point-of-sale loan which lets shoppers pay for their items over a period of installments. This has been a big influence in online sales too where retailers are incentivised to offer this checkout capability to increase their conversion rates.

The advantage for shoppers is that it often enables them to buy a more expensive item.

Mobile Payments are not likely to slow down anytime soon

The increasing penetration of smartphones and high-speed internet has helped this payment method rocket, in combination with COVID 19. This sector can be classified into a few different categories, namely;

1) Mobile Wallet Payments

2) Apple Pay/Samsung Pay/Google Pay

3) QR code as a payment method

4) Cryptocurrency (blockchain wallet)

Mobile Commerce is expected to hold 80% of e-commerce transactional value by 2025. Looking at the UK, more than 50% of revenue of online shopping businesses was generated through mobile devices in 2020. We can expect this similar trend to follow in other markets as well as more payment methods needing to be offered by retailers to meet their payment needs.

In the developing markets, E-commerce and digital services continue to grow. Convenience and safety are likely to be the main questions asked by consumers who have not shopped online before. Their experiences will need to be positive for them to continue using the online channel. With the increase and adoption of the smartphone, we are seeing the transition slowly starting to take place.

As mobile phones are becoming the point of reference in the growing digital world, SoftPOS/ TapOnPhone technology is the latest addition and is predicted to grow rapidly amongst retailers and consumers.

Retailers may now simply accept payments through their smartphone by downloading an App. Customers will still be able to pay through their mobile wallets or physical contactless card.

In the e-commerce space, we expect 2022 will be the year of piloting the ability for a customer to make a purchase by simply tapping their card to their mobile device to complete an online purchase. This provides for greater security and convenience, where now a customer will never have to input their card details online.

WIZZIT Digital provides this technology with PIN entry and will be piloting the e-commerce solution soon. Please get in touch for more detail.

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