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Swish payment app12/31/2023 ![]() ![]() The company expounds on its value proposition and told ITWeb Africa: “Swish Pay is the only platform that is wallet agnostic in Zambia. ![]() This active and conscious continued drive will enable a larger part of the society to transact through technology thus making it easier and safer as opposed to traditional methods, developers say. This coupled with the ‘contactless’ nature of payment, supports in adhering/supporting the rules & restrictions during the virus outbreak. The solution enables merchants to push promotions on the platform which allows them to better target their consumers as well as increase daily business traffic. Street/market vendors who are enrolled can for the first time in the history of Zambia, can accept a VISA/MasterCard Payment that has helped them with more access to business opportunity. Swish Pay is an inclusive financial application that enables and includes everyone from organised larger retailers to informal market / street vendors. Mobile money boosts Zambia’s financial inclusivity strategy In April the solution was released commercially, however because the concept of no wallet is new in Zambia, the focus is now on provincial roll out and adoption. The pilot included closed user group testing from January to mid-April. Swish Pay, designed by NetOne and a designated payment system by Bank of Zambia, was piloted on 11 January 2021, after three years of development. ![]() NetOne Group CEO Bejoy Nettikadan says the intention is for the solution to work with existing wallet providers to ensure enhanced financial inclusion and the solution is aimed at any merchant, irrespective of size of operation.ĭevelopers say the platform is PCI DSS (Payment Card Industry Data Security Standard) compliant and allows a consumer to safely pay for goods and services from their VISA/MasterCard/ wallet of their choice by simply linking the mode of payment to the Swish Pay App. Cash is becoming a thing of the past among young Swedes, and Swish is the talk of the town.Swish Pay, touted as the first wallet-agnostic payment platform in Zambia, has been launched commercially by the NetOne Group after a successful pilot in January this year. Swish is a mobile finance success story that could grow beyond its Swedish roots. Swish users aren’t locked into mobile numbers, but there’s an effort required to change. There’s a notable grant here to mobile operators: Swedish banks are making mobile churn at least a little less likely by relying on phone numbers as identifiers. Swish’s cloud-based clearing house combines with a free app and a mobile data connection to create one of the smoother mobile payment systems to date. But part of Swish’s success lies in its software-based infrastructure, meaning that no new point-of-sale terminals are required. Swish’s success is happening as Apple, MasterCard, PayPal, Samsung, Square and Visa look to establish mobile payment ecosystems. Some stores say that up to half of their revenue now comes through the service. The service began as a way for individuals to send money to each other, but a growing number of small businesses are now accepting Swish as a debit or credit card substitute. The country has seen a Western mobile payment success story, with about one in three Swedes using Swish. A version of the app is available for Android, iOS and Windows Phone. They can then send or receive money in near-real time via the dedicated Swish app by using the phone number as the identifier, and both parties receive confirmation of payment. To begin using the service, new users first connect their mobile number to a bank account. It’s become a part of the Swedish economy. In a country of 9.5 million people, Swish has surpassed critical mass. Swish’s Web site states that the service now has almost 3.6 million users and, in October 2015, the equivalent of $515 million was sent via Swish. It’s been developed and supported by a consortium of about a dozen Swedish banks, and is used by both enterprises and consumers. Swish is a cleverly branded and astutely marketed mobile money transfer system. ![]() It’s the hottest new verb in the Swedish vocabulary. ![]()
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