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.
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