Verve, Alcineo Introduce SoftPOS for Contactless, Digital Payments

By Modupe Gbadeyanka

A cost-effective software point-of-sale (SoftPOS) SDK solution has been deployed by Verve and Alcineo to enable merchants to use mobile phones or mobile devices to accept contactless payments from customers without the need for additional hardware, thereby giving predominance to mobile channels.

The SoftPOS deployment in Nigeria is expected to further strengthen and contribute to the growth of digital payments in the country, across Africa and in other regions where the Verve card is accepted.

A statement from the leading payment cards and digital token brand in Africa explained that the SoftPOS solution would leverage its secure payments platform and Alcineo’s expertise in payment software development to provide a seamless and secure payment experience for both merchants and customers.

The solution is expected to be particularly beneficial to small and medium-sized enterprises (SMEs) often faced with the challenges of accessing traditional point-of-sale systems.

The solution has the potential to increase access to payment infrastructure and support the growth of the digital financial system.

Speaking on the partnership, the Managing Director of Verve International, Mr Vincent Ogbunude, noted that as the foremost indigenous payment card brand out of Africa, Verve continues to find innovative ways to ensure that Nigerians get access to easy and convenient payment options, adding that the partnership will significantly impact the growth of Nigeria’s digital payment ecosystem.

“We are excited to partner with Alcineo to deploy this innovative SoftPOS solution in Nigeria. Alcineo’s expertise in payment software development will be instrumental in ensuring that the solution is secure, reliable, and easy to use for both merchants and customers,” he remarked.

It was disclosed that this partnership represents an important development in the African payments landscape and a positive step towards increasing the accessibility and security of digital payments in Nigeria as it aligns with the country’s efforts to promote financial inclusion and increase the adoption of digital payments.

According to the Central Bank of Nigeria (CBN), only 36.8 per cent of Nigerian adults have access to formal financial services and initiatives like SoftPOS have the potential to increase access to payments infrastructure and support the growth of the digital economy.