VeryPay is a white label, closed-loop mobile payment solution that can complement an existing payment system or provide a simple, straightforward, and easy to implement alternative.
VeryPay allows you to:
Earn more: For every transaction, you’ll earn a % of the fees and won’t pay service charges to card schemes like Visa and Mastercard.
Reduce costs: With minimal implementation costs, low transaction fees and simple, transparent pricing - running costs are much lower than with open-loop payment systems.
Increase loyalty and retain customers: Attach loyalty points to payments and enhance customer stickiness.
Your business will have more deployable cash sitting in its own ecosystem. Customer deposits sit within your own payment’s infrastructure giving you freedom to explore new financial opportunities for your customer community.
It also enables financial inclusion for your customer community. Verypay allows them to enter the financial system without the need for a bank account.
VeryPay System Features
VeryPay Mobile App:
The VeryPay mobile app allows end-users to access your closed-loop management system. The app is used to add a new payment card and link it to a user’s e-wallet.
Users can then:
Check an account balance
Lock, unlock, add, or delete cards
Receive payment notifications for card transactions
Show payment history of the connected wallet/e-banking account
Review/update personal information
Additional features may include (depending on your available services):
Peer to peer transactions.
VeryPay Mobile Payment Terminal App:
The approved merchants within your network will receive an Android application that runs on compatible NFC devices. The application can be customised with your own company design and published on the Google Play Store and transform any NFC phone into a mobile Point of Sale device. The Verypay app can run on any android POS system that has an NFC interface.
A merchant log’s in to the mPOS app with his credentials. When authorized, the payment terminal and the merchant can transact between its wallet and the wallet of any authorised end user.
VeryPay Payment Cards:
Our simple integration attaches a branded payment card to your existing e-wallet or via one of our e-wallet partners. Think of it as a simple add-on that gives you extra features and functionality.
The Verypay card utilises secure smart card technology to ensure the highest level of protection for payment transactions. This technology safeguards the exchange of data between the card reader, merchant application, user application and all integrated systems.
This technology is supported by contactless enabled payment terminals and is compatible with most of the payment acceptance devices deployed worldwide, and our merchant application running on any capable smartphone.
The chips embedded in our cards are transposable to wristbands and other wearable devices. This extends the capability of the Verypay solution to Event and Membership management Solutions, loyalty management, transportation, and ticketing.
VeryPay Back Office Administration:
The Verypay admin platform allows an assigned person, to perform various operations: (Create, Read, Update, Delete)
Manage the account profile
Manage administrators and end-users
Manage & monitor transaction amounts and limits
Analyze data within a dashboard
Read, write, filter, and export data relating to:
Transactions, cards usage, system users and payment terminals.