AFRISOFT Interactive has stated that the introduction of VoguePay into the online payment system will boost e-Commerce in the Nigerian cashless economy.
VoguePay is a unique online payment processor owned by AFRISOFT Interactive. It supports mobile payments via Text-Direct, a feature that works on any SMS-enabled mobile phone. It boosts online transactions without the need for internet connection. Merchants can transfer money, check balance, withdraw, request for payment, send invoice and perform a few other tasks by SMS.
The solution is designed to boost e-commerce transactions across Point of Sales (PoS) terminals and the web as well as other e-payment channels.
Announcing the introduction of VoguePay recently, Chief Executive Officer of AFRISOFT, Mr. Leke Ojikutu, said many experts have agreed that one of the ways to grow e-commerce in Nigeria was largely through online payment solution. Though several solutions have been proffered, yet none seem to have made online payments easier both for developers, merchants and individuals, he said, adding that VoguePay was designed to solve the challenge of web payment for SMEs in the country and provide more value to users at the lowest cost possible.
Ojikutu said “people can electronically pay for goods and services online and this will help business owners to accept payment from remote buyers without buyers going to pay cash into seller's bank account. With simple codes, a developer will setup a website to collect payment and expose consumers to e-payment channels.”
He explained that many businesses like online stores, book sellers, SMS companies, and brick and mortal businesses can actually increase their sales when they allow alternative payment options on their website or stores which, until now was a difficult and expense for business owners.
Unlike other providers that require business owners to pay between N6, 000 to N200, 000 as initial cost of integration to use their platform, VoguePay said its solution is free for anyone that wants to integrate with the platform.
The solution from VoguePay enjoys usage across a variety of market segments that includes online stores, booksellers, NGO, SMS companies, and brick and mortal businesses. Since its launch, it has processed over 9,000 transactions worth over N10.3 million for over 2700 merchants.
The CEO further explained that in order to provide the innovative solution that small businesses could rely on to receive online payment, each VoguePay account can be used to accept payments from an unlimited number of websites. The service also allows users without a website to accept payments from clients via an email invoice which would be made payable to their VoguePay wallet.