In furtherance of its commitment to ensuring the advancement of cutting-edge technology and security of data in Nigeria, a pan-African provider of ICT solution CWG Plc has struck a strategic alliance with Entersekt, a globally recognized innovator in mobile-first fintech solutions.
Through the partnership, CWG will provide Entersekt’s full suite of mobile-centered security and payments products to banks and other enterprises in Nigeria and beyond, either as a hosted solution or on-premise implementation.
CWG’s roll-out of Entersekt technology begins with Transakt, a sophisticated app-based mobile identity and authentication product. Available as a software development kit or standalone mobile app, Transakt is used by tens of millions of smartphone users around the world to safely log into their online and mobile banking, verify payments and other sensitive transactions, and communicate privately with their service providers. Users approve or reject in-app authentication prompts with one tap.
Speaking on the partnership, Executive Director – VP Sales and Marketing at CWG, Adewale Adeyipo, said: “This is a major step towards ensuring that our customers can operate in conformity to relevant global practices and regulations by rolling out market-leading online and mobile experiences at competitive prices, without exposing their users to fraud.”
Mobile payments are responding quickly to technological developments, and unpredictable changes in consumer preferences can be risky and expensive. Entersekt’s product, Connekt helps financial services providers launch new payment services within their existing banking apps quickly and seamlessly. Depending on the country, it can enable all major QR (Quick Response) -code-based mobile payment services; card issuer wallets for Mastercard, Visa, and American Express tap-to-pay purchases; a host of third-party wallets; Web payments; and 3-D Secure 1.0 and 3-D Secure 2.0 protected card-not-present payments.
Connekt does the work of bridging all of these disparate technologies. “It’s a converged payments platform that chimes perfectly with the Central Bank of Nigeria’s cashless policy, which aims to reduce the use of cash by significantly boosting mobile payments penetration; it makes mobile payments services easy to deploy and even easier to use,” explained Adeyipo.
Also speaking of the partnership, Senior Vice President, Middle East and Africa at Entersekt, Pattison Mutambiranwa said: “It pays to work with the best. Like Entersekt in South Africa, CWG counts up to 60 percent of domestic banks as customers. It is deeply knowledgeable of the financial sector’s needs, not only in Nigeria, but right across West, Central, and East Africa. We’ve enjoyed every minute working with such a dynamic and experienced team, and I’m confident our combined competencies will work wonders for organizations deploying our technology.”