Dashen Bank and iVeri introduce Mobile Commerce to Ethiopia
iVeri Payment Technologies, a provider of multi-channel e-payment solutions, has licensed its Payment Gateway and MiCard e-payment processing solution to Dashen Bank SC, a private commercial bank in Ethiopia. iVeri's Payment Gateway will help Dashen Bank to become the first bank in Ethiopia to acquire mCommerce, eCommerce and Mobile merchant transactions. The bank has also chosen iVeri's MiCard™ software which for the first time will enable Dashen Bank account holders to interact with the bank via SMS.
Dashen Bank will deploy the iVeri Payment Gateway software to all their Merchants to process Virtual and Point of Sale transactions. This project will be carried out with the assistance of SS Communications Plc, iVeri's partner in Ethiopia.
Dashen Bank is one of the first banks in Ethiopia to be appointed as a principal member of Visa and MasterCard. The bank's decision to select iVeri's technology is part of the next phase of meeting the need for a scalable solution to meet aggressive transaction growth objectives, support for multiple delivery channels and devices, and the ability to offer modern and world-class card payment services to cardholders in Ethiopia.
"We have a reputation for harnessing the advanced capabilities of IT to improve our service to customers and contribute to the bottom line," said Ato Lulseged Teferi, president of Dashen Bank. "Our decision to invest in iVeri technology is another example of this. iVeri is Africa's market leader in card acceptance software, and its multi-channel Payment Gateway meets our requirements to enhance our service offerings."
iVeri's technology will initially support Point of Sale terminals acceptance and introduce MiCard for cardholder interaction at Dashen Bank. Once these channels are established the Internet and mobile channels will be deployed. With iVeri's MiCard, Dashen Bank will now be able to allow their cardholders and account holders to top up their airtime, get an account balance and transfer value to another card, all using their mobile phone.
"iVeri's experience and tailor-made solutions can help banks deliver new and enhanced customer service while giving increased return on investment," said Barry Coetzee, Chief Executive Officer of iVeri. "With iVeri's technology in place, Dashen Bank can address a wide range of processing needs for its e-payment operation, including mobile payments and e-commerce, all on a certified PCI DSS platform (an international data protection standard mandated for Visa and MasterCard transactions) that delivers a secure, reliable and scalable transaction infrastructure."
"We are delighted to take the lead in providing Ethiopian cardholders with the convenience of interacting with their accounts via SMS," added Ato Lulseged Teferi. "This marks a significant move ahead in providing useful and time saving services to our customers.”