The Austrian start-up dedicated to mobile payments, Vienna Payment Solutions – vipaso – has launched a new end-to-end independent mobile payment innovation to facilitate mobile money payments in Africa and across the world.
Known as Horizon, vipaso’s state-of-the-art system is a complete end-to-end mobile payment solution based on Bluetooth Smart data transmission technology. Horizon consists of two apps – one for the consumer, and one for the merchant.
Horizon also features back-end solution-covering security technology that leverages tokenization, an onboarding function, transaction management interfaces to existing third party rails (issuers, acquirers, payment service providers, payment schemes) and convenience functions such as loyalty rewards, search facilitations and coupons.
The solution works with standard credit and debit cards and is available for either iOS or Android operating systems. The magic of Horizon is that it can be run by anyone independently and is on par with other top solutions in the industry.
“With Horizon, vipaso aims to provide a state-of-the-art payment solution on the world market, also fostering financial inclusion,” says Wolfgang Platz, President vipaso GmbH.
Around 57% of the total population of Africa – about 95-million people – do not have a traditional bank account, according to The Fintech Times. Disparities in finance such as these have fuelled what Forbes is calling a mobile payments “boom” in Africa, with sub-Saharan Africa alone accounting for 43% of all new accounts in 2020. As millions remain unbanked in Africa, mobile penetration and internet use continues to grow, especially in massive markets such as Nigeria, Kenya and South Africa.
Solutions such as Horizon are being adopted at a record pace with merchants, customers and other users turning to digital innovations to quickly process and make payments, further closing the digital divide and lessening the impact of financial exclusion.
There is no doubt that Africa’s future is fintech, and while the struggles of the past are still felt today one only has to look to the Horizon to see that the future, is not only bright, but well on its way.
vipaso is Looking for Partners
vipaso, the Vienna-based fintech startup, is looking for partners and license holders in the world of finance.
If your business is in finance, fintech, retail or is a public institution – contact vipaso here.
By Staff Writer.