ITEX SIGNS R37m M-COMMERCE DEAL NIGERIA’S CAPITAL PARTNER
South African mobile commerce solution provider ITEX has signed an m-commerce deal worth around R37 million over the next five years with Capital Partner Limited (CPL), a Nigerian strategy practice. ITEX says this is its first Nigerian deal, although it is already doing business in Senegal and Lesotho.
ITEX, a value-added reseller of the Lipman range of EMV-compliant EFT terminals, will provide CPL with an m-commerce solution to do electronic voucher distribution (EVD), third-party payments and process debit card transactions.
The solution consists of TAMS (ITEX's Terminal Application & Management Switch), VoucherVault (ITEX's virtual warehouse and stock management system) and GSM-enabled Lipman Terminals, which will be used to initially do EVD where CPL will distribute GSM prepaid vouchers using GSM-enabled terminals.
CPL plans to establish a card payment solution in Nigeria where there is no viable consumer or retail card payments solution. CPL's 12-month multi-phased strategy will include issuing debit cards to qualifying banking clients, establishing an EVD channel by rolling out 2,000 EMV-compliant GSM terminals to retailers, enabling acquiring on EMV compliant EFT terminals and enabling third-party payments on terminals for payment of utilities such as electricity, telephone bills or loans.As CPL's technology partner, ITEX will supply the technology and help integrate the card payment solution into the various banks.